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Home Saudi Arabia Head of Brokerage - KSA

Head of Brokerage - KSA

Full time at Thndr in Saudi Arabia
Posted on January 24, 2025

Job details

Head of Brokerage - KSA

Who Are We? Thndr was founded with a dream to democratize investing. We wanted to give anyone with a smartphone the ability to grow and preserve their wealth. What access and knowledge only few had, we wanted to extend to many. This, we believe, can only be achieved by increasing (and deepening) participation in local capital markets. History has shown that investing is the single greatest way to build & maintain wealth long-term. And yet there are many barriers that prevent everyday citizens and residents from investing and saving. Low financial literacy is the biggest of these barriers. Survey homes and schools around Saudi and you will find that personal finance and investing are massively unaddressed subjects. Six million of Saudi's 30 million population own stocks, and very few of those are habitual investors. The rest remain uninvested. And so as the young Saudi population grows, and the middle class expands and prospers, many of these Saudis will find themselves with money but still locked out of this wealth club that investing unlocks. It's no longer a matter of means; it's a matter of knowledge... and approachability. Enter Thndr. Our motivation at Thndr is much larger than brokerage market share. Our motivation is to solve this huge societal problem, helping more Arabs save, invest, and take agency of their financial futures. If we do that right - and we've already proven we can do it in Egypt - then the market share that many brokerages seek will be a delightful byproduct for us inshaAllah. The journey so far Thndr launched in Egypt in 2020 and in less than four years, we've introduced 296K first-time investors to the Egyptian Stock Exchange. That's 66% of all investors on the EGX. Thndr's app is sleek and easy to use, but that alone doesn't explain why users felt confident to start their investing journey with us. We attribute much of that result to our commitment to educational content, be it easy-to-understand articles or accessible videos on social media. Our KSA vision We're coming to Saudi with the same mindset. Similar to Egypt, Saudi society struggles with low rates of financial literacy. This problem has been identified by the Saudi Ministry of Finance and is best quantified by the household savings rate, which currently stands at 1.6% of total household income. Saudi's Vision 2030 National Savings and Financial Literacy Strategy has set a target of increasing this to 10% by 2030. Through code and content - our bread and butter - we will help achieve this goal inshaAllah. Thndr in Numbers On our short journey we've validated that there is a need for our solution, as illustrated by these key figures in Egypt:
  1. 3 million app downloads
  2. 84% of users are first time investors
  3. 65% of users live outside Cairo, Giza and Alex
  4. Grew from 8 to 250 employees in 4 years across Egypt and UAE
  5. Became Egypt's largest retail broker: $8.8bn in annualized traded value
  6. Raised $20M Series A from Beco Capital, Prosus Ventures, Tiger Global ++
  7. Built a sustainable business with sound unit economics and an accelerating user acquisition rate: acquired 31K users in Q1'23 vs 73K in Q1'24 (235% growth)
Role in A Nutshell Talent density is our North Star when it comes to hiring. We are looking for a Head of Brokerage in Saudi. This person will be building and managing Thndr's brokerage capabilities in Saudi. What You'll Do
  1. Design and lead Thndr's Core Brokerage function in KSA
  2. Manage Thndr's relationship with Tadawul & CMA - collect and act on insights about innovative brokerage solutions to be introduced to the Saudi market.
  3. Assess, manage, and resolve problematic developments and situations
  4. Understand the market practice and regulations and their impact on Thndr
  5. Collaborate with the product team to enhance brokerage services
  6. Collaborate with Thndr's leadership to craft and implement the strategy for brokerage in KSA
What We're Looking For?
  1. Be certified in CME3A & CME3B or be willing to take those exams, or as an alternative passed Securities Industry Essentials (FINRA)/ Series 7
  2. High agency, self-motivation, and strong sense of ownership
  3. Working knowledge of the Saudi brokerage ecosystem (from order submission to trade settlement)
  4. Operational experience in the brokerage value chain at a reputable financial services company
  5. Excellent communication, negotiation, and presentation skills along with strong analytical, critical thinking, and problem-solving skills
  6. Ability to excel under pressure with strong organizational skills
  7. Proficient in budgeting and business planning
  8. Uncompromising integrity and strong dedication to professionalism
Fortune favors the bold... Thndr's culture rewards competence, resourcefulness, and self-initiative. If that sounds like an environment you'd like to work in - and if you're passionate about our mission to democratize investing, we would love to hear from you. Job ID HgQQGHaLTSNw #J-18808-Ljbffr

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