The KYC Specialist is responsible for ensuring robust compliance with Know Your Customer (KYC), Customer Due Diligence (CDD), and Anti-Money Laundering (AML) regulations for UAE Central Bank . The role focuses on conducting thorough due diligence for onboarding new clients, particularly high-risk customers, monitoring existing relationships, and mitigating risks related to money laundering, terrorist financing, and sanctions. The specialist will leverage digital tools and technologies to streamline onboarding processes while ensuring adherence to UAE Central Bank regulations and best international practices.

Main Duties and Responsibilities:

Customer Onboarding and KYC Compliance:

• Perform KYC reviews for new-to-bank clients, including individuals, corporates, and high-risk entities such as Politically Exposed Persons (PEPs) or clients from high-risk jurisdictions.
• Verify customer identities, beneficial ownership, and source of funds/wealth using reliable documentation and digital verification tools.
• Ensure all KYC documentation complies with UAE Central Bank guidelines, Financial Action Task Force (FATF) standards, and internal policies.
• Review & approve account opening requests, ensuring completeness of KYC forms and adherence to AML/Counter-Terrorist Financing (CFT) requirements.

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD):

• Conduct CDD and EDD for high-risk clients, including those in industries prone to financial crime (e.g., cryptocurrency, international trade) or with complex ownership structures.
• Analyze customer risk profiles, assess sanctions/PEP screening results, and escalate high-risk cases to senior management or the Money Laundering Reporting Officer (MLRO).
• Perform ongoing monitoring of client accounts to detect suspicious activities or changes in risk profiles, ensuring compliance with perpetual KYC frameworks.

High-Risk Onboarding:

• Act as the point of escalation for high-risk client onboarding, providing advisory support to relationship managers and the onboarding team.
• Conduct in-depth investigations using advanced research tools, public records, and global sanctions lists to assess risks associated with high-risk clients.
• Develop and implement risk-based strategies for onboarding high-risk clients, including determining acceptable risk levels and mitigation measures.

Regulatory Reporting and Risk Mitigation:

• Investigate and document suspicious transactions, preparing Suspicious Transaction Reports (STRs) for submission to the UAE Central Bank via the MLRO.
• Respond to Requests for Information (RFIs) from correspondent banks and address queries related to AML, KYC, and sanctions.
• Recommend and execute de-risking strategies, including account closures or fund freezes, for clients flagged for AML/KYC violations.

Process Optimization and Digital Integration:

• Leverage digital banking platforms and KYC/AML technologies (e.g., AI-driven screening tools, blockchain analytics) to streamline onboarding and monitoring processes.
• Collaborate with IT and operations teams to perform system testing and maintenance for KYC/AML systems, ensuring seamless integration with digital banking workflows.
• Contribute to the development and enhancement of CDD frameworks, policies, and risk assessment models tailored to a digital banking environment.

Stakeholder Collaboration and Advisory:

• Provide strategic guidance on KYC/AML policies, account opening procedures, and regulatory requirements to internal stakeholders.
• Participate in compliance forums and training sessions to stay updated on regulatory changes and emerging AML/CDD risks in the UAE and globally.

Record Keeping and Reporting:

• Maintain accurate and up-to-date records of KYC/CDD processes, risk assessments, and onboarding decisions in compliance with regulatory and internal standards.
• Update Management Information Systems (MIS) and dashboards for tracking onboarding statuses, risk ratings, and compliance metrics.
• Support audits and regulatory inspections by providing comprehensive documentation and reports

Job Requirements

• 5-8 years of experience in KYC, AML, or compliance roles within banking or financial services, preferably in a digital banking or fintech environment.
• Bachelor’s degree in finance, Business, Law, or a related field. Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) or ICA Diploma in AML/KYC are highly desirable.
• Strong background in onboarding high-risk clients, including PEPs, correspondent banking, MSBs, crypto, and complex corporate structures.
• Experience dealing with regulatory bodies such as CBUAE, SCA & other UAE regulatory bodies.
• Strong knowledge of UAE AML/CFT laws, FATF recommendations, and international compliance standards.
• Proficiency in using KYC/CDD software, screening tools (e.g., World-Check, Refinitiv, LexisNexis), and transaction monitoring systems.
• Ability to analyze complex ownership structures and beneficial ownership details.
• Strong analytical and problem-solving skills.
• Excellent communication and stakeholder management abilities.
• Detail-oriented, proactive, and capable of handling high-pressure situations.
• Ability to work independently while ensuring collaboration across teams.
• Proficiency in English. Arabic as a strong advantage