Custody Manager

Who We Are: Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more. Our recent Series D funding round brought our total investment to over $320 million, fueling our ambitious vision. Amongst our subsidiaries, Alpaca is a licensed financial services company, serving hundreds of financial institutions across 40 countries with our institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totalling over 9 million brokerage accounts. Our global team is a diverse group of experienced engineers, traders, and brokerage professionals who are working to achieve our mission of opening financial services to everyone on the planet. We're deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing our award-winning, developer-friendly API and the robust infrastructure behind it. Alpaca is proudly backed by top-tier global investors, including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator. Our Team Members: We're a dynamic team of 230+ globally distributed members who thrive working from our favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond! We're searching for passionate individuals eager to contribute to Alpaca's rapid growth. If you align with our core values—Stay Curious, Have Empathy, and Be Accountable—and are ready to make a significant impact, we encourage you to apply. Your Role As a Custody Manager, you will be responsible for overseeing the safekeeping, settlement, and administration of client securities assets at Alpaca, ensuring the safety and integrity of billions of Saudi Riyals in customer holdings within the Kingdom of Saudi Arabia’s capital markets. As part of the Operations team, you will manage the end-to-end custody lifecycle for Alpaca’s brokerage and Trading API customers, encompassing asset safekeeping, trade settlement, corporate actions processing, reconciliation, and regulatory reporting. Working closely with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), custodian banks, and internal stakeholders, you will ensure that custody operations run seamlessly and in full compliance with the Capital Market Authority (CMA) regulations and other applicable Saudi financial laws. We’re looking for someone who brings deep securities operations expertise within the Saudi or GCC market, enjoys building scalable processes, and thrives in a fast-paced, detail-driven environment. Working collaboratively across compliance, engineering, and product teams, you’ll ensure the operational backbone of Alpaca’s platform is reliable, compliant, and built to scale in line with Saudi Vision 2030 and the Kingdom’s evolving capital markets landscape. Things You Get To Do Own and manage the daily custody operations workflow, including trade settlement (T+2), asset transfers, and position reconciliation across Saudi-listed equities, Sukuk, and fixed-income instruments Serve as the primary point of contact with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), custodian banks, and clearing entities Design and improve operational processes to increase efficiency, reduce risk, and support business growth in alignment with CMA requirements Lead corporate actions processing, including dividends, rights issues, stock splits, mergers, and Zatka-related distributions Collaborate with engineering and product teams to automate custody workflows and reduce manual touchpoints Ensure compliance with CMA regulations, including the Securities Business Regulations, the Investment Funds Regulations, and client asset segregation requirements Liaise with the CMA and other Saudi regulatory bodies during audits, inspections, and reporting cycles Manage, mentor, and develop a team of custody operations professionals Who You Are (Must-Haves) 7+ years of experience in securities custody, clearing, or brokerage operations, preferably within the Saudi or GCC capital markets Strong knowledge of Edaa depository services, Tadawul settlement processes, and the Saudi securities lifecycle Deep understanding of CMA regulations, including the Securities Business Regulations, Anti-Money Laundering (AML) rules, and client asset protection requirements Familiarity with Saudi-listed asset classes including equities, Sukuk, ETFs, REITs, and government bonds Excellent communication and collaboration skills in both Arabic and English, with the ability to work across technical and non-technical teams Experience managing reconciliation processes and investigating and resolving settlement breaks Proven ability to build, document, and improve operational procedures in a regulated environment Strong attention to detail and a risk-aware mindset Experience managing or mentoring a team Who You Might Be (Nice-to-Haves) CME-1 (Certified Market Expert) or other CMA-recognized professional certifications Experience working with Qualified Foreign Investor (QFI) programs or Swap arrangements on Tadawul Experience working at a fintech, startup, or CMA-authorized institution Familiarity with APIs, automation tooling, or working closely with engineering teams to modernize custody operations Experience or understanding of digital asset custody and blockchain-based securities Knowledge of Saudi Vision 2030 financial sector development initiatives and CSDI reforms Experience working remotely or in a hybrid environment How We Take Care of You: Competitive Salary & Stock Options Health Benefits New Hire Home-Office Setup: One-time USD $500 Monthly Stipend: USD $150 per month via a Brex Card Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce. 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