Head of Custody Operations - KSA

The role

The Head of Custody Operations will set up and run trading, settlement, custody, and funding operations in Saudi. This person will collaborate with Tadawul, Edaa, Muqassa, and other stakeholders while being registered with the CMA.

What you will do

• Oversee all aspects of trade settlement and custody operations.
• Manage the full trade life cycle, from execution to final settlement.
• Safeguard client assets and client money in line with CMA requirements.
• Run robust daily reconciliations with Edaa, Muqassa, custodian and bank records.
• Build reliable operations that can scale with Thndr's growth.
• Develop and implement operational policies and procedures.
• Automate processes to reduce manual errors.
• Keep up with market practice and regulation to ensure operations stay compliant.
• Identify and assess operational risks and put controls in place.

Required qualifications

• 5+ years in securities operations, with a focus on custody and post-trade.
• Experience in the Saudi market, with hands-on knowledge of Tadawul, Edaa and Muqassa processes.
• Experience leading an operations team at a CMA-licensed Capital Market Institution or custodian.
• Passed the CMA's general qualification route: CME-1A and CME-1B, or an exemption granted by the CMA.
• Both CME-1A and CME-1B must be passed before CMA registration.
• Eligible for registration with the CMA as a Registered Person under the Capital Market Institutions Regulations.
• Meet the CMA's fit-and-proper criteria (skills, experience, competence and integrity).
• Resident in the Kingdom of Saudi Arabia, or willing to relocate.
• Analytical mindset with the ability to identify and resolve complex issues.
• Exceptional attention to detail.
• Strong communication and team coordination skills.
• Fluent in English.

Nice to have

• Arabic strongly preferred

About the company

Thndr is an investment broker aiming to democratize investing across the MENA region. The company offers access to local and US stocks, funds, and an institutional-grade trading platform called ThndrX.