KYC ANALYST – Arab Monetary Fund – Dubai, United Arab Emirates

Buna, the Arab Payment Platform, is looking for a responsible KYC Analyst to join our founding team. The KYC Analyst is a member of our Risk and Compliance Division and focuses on the implementation of Buna’s KYC program and on ensuring the compliance of Buna’s customers (i.e., participants) to KYC requirements.


The job holder is also responsible for conducting day-to-day KYC operations, reviewing and maintaining documentation for participant accounts, evaluating high-risk accounts and supporting the development of Buna’s KYC strategy.

This position will report to the Chief Risk & Compliance Officer.

In this context, the following sections detail the main qualifications, skills and responsibilities related to this 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’

Job Details

Posted Date: 2020-07-20
Job Location: Abu Dhabi, United Arab Emirates
Job Role: Finance and Investment
Company Industry: Financial Services

Preferred Candidate

Career Level: Mid Career

Apply Now

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