Core Operations

State Street

1) Clearing & settlement operations (Cash Market Equities / ETFs / Sukuk & Bonds as applicable)

• Manage settlement processing for Saudi Exchange transactions settling at Edaa, ensuring accurate, timely completion across relevant cycles (e.g., T+2 for normal exchange trades; negotiated deals T+0 T+5; buy ins T+0, as applicable).

• Reconcile and validate trade/settlement obligations by aligning client instructions and broker confirmations with clearing outcomes (Muqassa) and settlement processing (Edaa); investigate and resolve exceptions promptly.

• Monitor settlement status proactively, manage potential fails, and follow KSA fails workflows noting that fails management procedures are defined and conducted by Muqassa, with Edaa rollover/cancellation and market-claim handling where applicable.

• Manage lifecycle of settlement instructions (including amendments/cancellations/partial settlement where permitted) in line with Edaa procedures and local cut offs.

2) Cash settlement & funding (SAMA)

• Ensure funding readiness for DvP settlement, understanding that KSA settlement is gross on the securities leg and netted on the cash leg, with cash settlement executed via SAMA settlement member accounts.

• Perform cash reconciliations linked to settlement activity; investigate breaks and drive timely resolution within cut offs.

3) FX operations (operational support)

• Process FX-related operational activities supporting settlement and client cash requirements (settlement-linked and standalone requests per operating model), validating confirmations and ensuring correct value dating and SSI usage.

4) Corporate actions, dividends & income

• Manage corporate actions and income events, ensuring accurate entitlements, timely postings, and robust reconciliations; coordinate vendor feeds and security setup with internal market data/static data teams as required.

5) Client onboarding & investor identification

• Support onboarding/account setup and documentation in line with Edaa account structures and membership rules; ensure correct capture/validation of investor identification in Edaa s framework (Investor Identification Number / Investor ID).

• Support QFI onboarding requirements within the local custody/account operating model to ensure settlement readiness.

6) Messaging, controls & stakeholder management

• Use SWIFT ISO 15022 (MT) and exposure to ISO 20022 (MX) standards for settlement/reconciliation/corporate actions messaging with clients/custodians and market counterparts, supporting high STP and clean exception handling.

• Execute daily controls and checklists on time; ensure adherence to local cut offs and internal policies; escalate high risk/time sensitive issues with clear impact articulation.

• Partner with internal teams (Operations, Risk, Client Services) and external stakeholders (brokers, clearing/settlement participants, custodians, relevant market entities) to resolve issues and improve outcomes.