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Home UAE KYC Analyst

KYC Analyst

Full time at Arab Monetary Fund in UAE
Posted on October 19, 2020

Job details

This position will report to the Chief Risk & Compliance Officer. In this context, the following sections detail the main job responsibilities, qualifications and skills related to the KYC Analyst position: Job Responsibilities KYC Program

  • Support the design of Buna's KYC program and the development of its strategy spanning Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) and ongoing monitoring of Buna's participants
  • Support the design of Buna's KYC standards and processes utilizing a risk-based approach
  • Ensure the KYC programs and processes are in line with Buna's compliance program and processes as well as in adherence with global KYC regulations
  • Perform quality reviews of Buna's KYC program and processes, and identify improvement opportunities to reduce exposure and increase processing efficiency
  • Stay abreast of industry trends and regulatory changes related to KYC at a global and regional levels
Day-To-Day Operations
  • Perform Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) as part of the KYC/AML program involving research, analysis, reviews and verification of periodic files
  • Support onboarding, offboarding and periodic reviews of customers, ensuring KYC requirements are met
  • Perform background checks, sanctions and negative news searches as well as PEP screening to complete the KYC checks
  • Research and validate customer identification data/evidence using appropriate internal and external data sources
  • Perform ongoing maintenance/ refresh of existing customer data
  • Perform analysis on potentially suspicious findings or transactions
  • Manage and mitigate the risk of being involved in money laundering, financing terrorism or other illegal activities
  • Work closely and collaboratively with the operational teams across all channels in order to provide a better and safer environment for customers
  • Partner with internal teams, such as Business Services and Technology Divisions, to develop compliance tools and workflows for KYC and ensure adequate software is in place to support the program
Risk Management
  • Support the development of the risk assessment methodology for stratifying participants, and determine appropriate risk responses to each category
  • Consistently apply risk and control mitigation processes
  • Provide guidance on key AML risks identified through enhanced due diligence reviews, including reputational risks and politically exposed persons
  • Participate in the implementation of operational risk policies, technology and tools, to enhance KYC solutions and minimize failed internal processes, inadequate controls, and emerging risks
  • Carry out regular risk assessments of the adequacy of KYC systems and controls to ensure that risks are managed effectively
  • Contribute to risk assessments and drive actions to address the root causes
  • Participate in risk assessment training workshops
Monitoring and Reporting
  • Perform the ongoing monitoring of key controls to measure the overall health and effectiveness of the KYC program
  • Effectively communicate and report plans, status, issues, risks and requirements to all levels of stakeholders
  • Prepare reports on customers 'at risk'
Qualifications and Skills Experience & Education
  • 4+ years of experience in financial compliance and regulations preferably within the Financial Services industry
  • Prior experience within KYC or Anti Money Laundering or similar KYC position
  • Bachelor's degree from a reputable university preferably in finance, legal, criminal justice or any relevant field
  • Attainment of relevant certifications (Certified Anti-Money Laundering Specialist [CAMS], Certified Fraud Examiner [CFE], Certified AML and Fraud Professional [CAFP]) is preferred
  • Knowledge of KYC process, due diligence, background checks, sanctions and Negative News searches, PEP screening, and risk management
  • Knowledge of Financial Services and other related financial regulations in the Payments industry (e.g. BSA/AML)
  • Hands-on experience with developing CDD requirements and executing KYC programs
  • Strong analytical and critical reasoning skills
  • Excellent communication skills (oral and written) with ability to effectively communicate by telephone, face to face, email and written
  • Proficiency in Microsoft Office (Outlook, Word, Excel and PowerPoint)
  • Excellent organization and time management skills, and ability to work on own initiative, accurately to tight deadlines, and to prioritize between conflicting demands
  • Ability to handle multiple tasks with tight deadlines simultaneously
  • Effective teamwork and relationship building skills with ability to demonstrate a high level of discretion and positive attitude with all internal and external stakeholders
  • Ability to maintain the highest level of confidential/sensitive information and professionalism
  • Flexibility and readiness to work beyond regular working hours and as required
  • Fluent in English
  • Knowledge of Arabic and French is a plus
The successful candidate will be offered competitive terms of service in accordance with the applicable employment policy, which includes tax free salary, housing allowance, furniture allowance, air tickets, education allowance, and life & medical insurance. Compliance/Legal

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