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Career prospect/advancement for Banking sales roles vs Banking "back end" roles

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  #131 (permalink)  
Old 30-08-2014, 04:06 PM
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What does sales n trading do?equity sales sounds interesting. Up till now I still for understand the diff between trader n dealer. Does dealer do market making? For trader trade and if one keep making losses, they get fired? And broker should be the ones we call to make trades for us common folks and rich fellows.

I did before aml/ kyc and now I'm doing credit analyst for FI, feel free to shoot any qns regarding these roles.
Does doing KYC role in a big bank have the same prospect as doing compliance in a smaller establishment FI? Which has better prospect and progression? Are you able to move from that KYC role to compliance afterwards?

What i feel is there are more opportunities to grow in a big corporation, but high competitiveness.

Whereas smaller establishment you have more exposure to everything and are able to learn more.

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  #132 (permalink)  
Old 30-08-2014, 11:30 PM
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for a local uni fresh grad who have no experience in kyc/aml aka client onboarding,

how much should he be looking at for expected salary for

1) Perm Role in Foreign Banks
2) Perm Role in Local Banks
3) Perm Role in Jap Banks

4) Contract Role in Foreign Banks
5) Contract Role in Local Banks
6) Contract Role in Jap Banks

kindly please share?

how much salary should this person be expecting after a year or 2 years of exp?

Thank you

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  #133 (permalink)  
Old 31-08-2014, 10:46 AM
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Kyc in pb and high net worth consumers going into bank products, the job scope will involve screening the individual. For corporates and FI, will be screening directors. Diff banks use diff screening programs.
Best route for most kyc personnel is to then get into general compliance. As that deals more with MAS new regulations
For entry lvl perm, local gives low 3, foreign bank gives high 3
Not only kyc, there's fatca and so on these days which they employ quite alot

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  #134 (permalink)  
Old 31-08-2014, 10:54 AM
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research analyst in bank front office(non IB) vs sales in banking

Which would be higher paid in short run n long run
For what we know salesman earn quite good if hit sales target
But in FO, bonus can pull up overall remuneration

Short run/long run. Which area outperform the other?
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  #135 (permalink)  
Old 07-10-2014, 01:50 AM
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Kyc in pb and high net worth consumers going into bank products, the job scope will involve screening the individual. For corporates and FI, will be screening directors. Diff banks use diff screening programs.
Best route for most kyc personnel is to then get into general compliance. As that deals more with MAS new regulations
For entry lvl perm, local gives low 3, foreign bank gives high 3
Not only kyc, there's fatca and so on these days which they employ quite alot
Hi, u mentioned that for fatca, kyc- they employ quite alot. By that, do you include fresh graduate with no relevant experience or one with minimum 1 year experience?

Do anyone know if there is any way to progress from PFC (bank sales role) into compliance related position?
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  #136 (permalink)  
Old 07-10-2014, 05:42 PM
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My advice to you is to take the front office sales role.
Doing sales, although is high pressured, will get you further than being in a back office will ever get you.

In the back office, like an operations role, you are just like a COMPUTER PROCESSOR, you only act based on instructions given to you.

Operations is like the backbone. sales is like the glamorous part.
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  #137 (permalink)  
Old 09-10-2014, 02:35 PM
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back office = OT for life

Sales depend if you are doing PB, like you stand at the branches and approach potential customers. That, is ****. Any tom dick can get in.

Sales on the investment banking side, is a different world. Top class, top notch, top guns.
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  #138 (permalink)  
Old 11-10-2014, 10:32 AM
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Hi, u mentioned that for fatca, kyc- they employ quite alot. By that, do you include fresh graduate with no relevant experience or one with minimum 1 year experience?

Do anyone know if there is any way to progress from PFC (bank sales role) into compliance related position?
As fatca is considerably new, banks employ people to do projects on fatca. New projects will have some mundane tasks to deal with. I believe those guys leading the projects may be able to use some help from fresh grads
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  #139 (permalink)  
Old 11-10-2014, 10:39 AM
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Does doing KYC role in a big bank have the same prospect as doing compliance in a smaller establishment FI? Which has better prospect and progression? Are you able to move from that KYC role to compliance afterwards?

What i feel is there are more opportunities to grow in a big corporation, but high competitiveness.

Whereas smaller establishment you have more exposure to everything and are able to learn more.
Since you are looking into prospects, it will depends on how much learning opportunities you get on the job.
You are very confused and pls understand that kyc and compliance can be two totally different job.
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  #140 (permalink)  
Old 02-07-2015, 09:55 PM
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Thanks for the info guys.
Guess I will be accepting the KYC Job.
Hope I can transfer to AML or GC after 2 years.
Hi

Any updates after two years ?
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