AML/Compliance/KYC professionals come in!

Hi Guys,

May know how is the KYC/AML/Compliance working life or culture in big firm like UBS, credit suisse, JP Morgan?

Need some serious advice here...

I am 28 years old this year and I have been working for almost 3 years in the operations in a foreign bank. Though my current role does not require me to work late like most operations roles, I do not see any career progression in it and I feel that there is nothing much more I can learn.

I wish to enter the AML/Compliance/KYC functions as I can see clearly the progresssion in it and I feel that there is alot I can learn. Initially I wanted to ask for an internal transfer to the KYC team in the bank I am working for but unfortunately the bank has announced a major restructuring and so I have to dismissed the intention of moving there. Therefore there are some questions I will like to ask from all of you here.

1) Is it too late to enter into AML/Compliance/KYC functions now?
2) Where can i start to look for such roles as I notice even the most basic roles such as KYC / AML officer requires some relevant experience.
3) How can I leverage on my 3 years' experience working in other operations functions?
4) Will I need to take a pay cut?

Would really appreciate all the kind advices here..

Originally Posted by Unregistered

Need some serious advice here...

I am 28 years old this year and I have been working for almost 3 years in the operations in a foreign bank. Though my current role does not require me to work late like most operations roles, I do not see any career progression in it and I feel that there is nothing much more I can learn.

I wish to enter the AML/Compliance/KYC functions as I can see clearly the progresssion in it and I feel that there is alot I can learn. Initially I wanted to ask for an internal transfer to the KYC team in the bank I am working for but unfortunately the bank has announced a major restructuring and so I have to dismissed the intention of moving there. Therefore there are some questions I will like to ask from all of you here.

1) Is it too late to enter into AML/Compliance/KYC functions now?
2) Where can i start to look for such roles as I notice even the most basic roles such as KYC / AML officer requires some relevant experience.
3) How can I leverage on my 3 years' experience working in other operations functions?
4) Will I need to take a pay cut?

Would really appreciate all the kind advices here..

Share more about yourself? What degree U have? How much are you making now?


The easier way without prior exp
If you have a good honors from local University at least,
U can considering join the ministry of home affairs under CAO (Commercial Affairs Officer) scheme.Work a few years there, and gain the relevant experience.

Originally Posted by Unregistered

Share more about yourself? What degree U have? How much are you making now?


The easier way without prior exp
If you have a good honors from local University at least,
U can considering join the ministry of home affairs under CAO (Commercial Affairs Officer) scheme.Work a few years there, and gain the relevant experience.

Unfortunately I only have a Bachelor of Science degree from NUS (no honours). I am making close to 4k per month right now.

I did consider the Commercial Affairs Department (CAD) but i guess with just a general degree and no honours, there is no chance for me to join the department. Moreover, I understand that the civil service still favours people with a better degree.

Therefore is there any way I can start to get into the compliance functions without any relevant experience?

hi, anyone here is from Compliance Professional Practicum offered by CS? i am aware that the job has no guaranteed job placement after the 2 years, where do people usually end up with after the program?

and how much salary to expect from your new employer after you have finished the program?

Burning question:

How much to expect for a bank compliance officer

Profile: Singaporean, male, local uni

Fresh grad @ 25: 4K ?
3 years exp @ 28:
5 years exp @ 30:
10 years exp @ 35:

Thanks !!

Originally Posted by Unregistered

Need some serious advice here...

I am 28 years old this year and I have been working for almost 3 years in the operations in a foreign bank. Though my current role does not require me to work late like most operations roles, I do not see any career progression in it and I feel that there is nothing much more I can learn.

I wish to enter the AML/Compliance/KYC functions as I can see clearly the progresssion in it and I feel that there is alot I can learn. Initially I wanted to ask for an internal transfer to the KYC team in the bank I am working for but unfortunately the bank has announced a major restructuring and so I have to dismissed the intention of moving there. Therefore there are some questions I will like to ask from all of you here.

1) Is it too late to enter into AML/Compliance/KYC functions now?
2) Where can i start to look for such roles as I notice even the most basic roles such as KYC / AML officer requires some relevant experience.
3) How can I leverage on my 3 years' experience working in other operations functions?
4) Will I need to take a pay cut?

Would really appreciate all the kind advices here..

I am 30 this yr and just joined the compliance dept late last year.
Prior to that was working in a foreign bank 3 yrs ago, supporting the biz development team to check the account opening docs for customer, e.g. kyc related.
Jumped to a asia bank in deposit dept mid last year and handled kyc checks for new accounts opened.

What i can say is IMO I find it really hard to get into this role if you do not have any prior experience.
Joining the foreign bank was because it has kyc related job scope which i felt could help me in securing a future role in compliance dept or a kyc related dept.
It helped as i managed to secure the position in the asian bank to do kyc checks.
Thereafter I managed to join the FI in the compliance dept doing all AML/ regulation and policy related job scope.

1) It is still possible to join, as long as you show the correct attitude and have the believe to learn.
2) Just look through recruitment website or apply through the bank's recruitment link.
3)Focus and emphasize on your job scope that is kyc or aml related that will help you in your role in a compliance dept or kyc dept.
4)Probably you will as they may take you as a fresh kyc analyst. Furthermore you are going into a totally different dept with no relevant exp. Same as if you are jumping from e.g. ops to trade finance etc.
hope this helps.

Originally Posted by Unregistered

Burning question:

How much to expect for a bank compliance officer

Profile: Singaporean, male, local uni

Fresh grad @ 25: 4K ?
3 years exp @ 28:
5 years exp @ 30:
10 years exp @ 35:

Thanks !!

IMO less than 4k for freshie. Banks usually take in ppl with exp.
Hard to get in for fresh grads with no relevant exp at all.



Anyone has same thoughts?

Originally Posted by Unregistered

Unfortunately I only have a Bachelor of Science degree from NUS (no honours). I am making close to 4k per month right now.

I did consider the Commercial Affairs Department (CAD) but i guess with just a general degree and no honours, there is no chance for me to join the department. Moreover, I understand that the civil service still favours people with a better degree.

Therefore is there any way I can start to get into the compliance functions without any relevant experience?

refer to post 137.
Start somewhere with KYC related job scope. You need to start somewhere in order to make your way into the dept. Like i said, best chance is KYC dept, but probably a pay cut.

Whats with the sudden influx of ppl wanting to join compliance?

I am in the compliance function (not solely kyc / cdd / aml desks) but the actual compliance advisory team itself. For most big banks, these kyc/cdd/aml functions r done by the ops team and they will only escalate cases to us when it is potentially in violation of our policies.

Well my point is, like almost 95% of the freshies u will not be joining the "decision making" team...(or maybe remaining 5% of you would make it there but definitely not the ones making decisions). Market pays well for ppl who have direct experience in handling regulators, projects, advising and developing framework/SOPs/guidelines, etc but not any better for those at jr level...

Sure u can gain exp n try to move on nxt time .. but can u endure for that 1st few yrs before having a "chance" to move up the ladder? I've seen many ppl giving up halfway through because the work is just too boring / dull and mundane at the lower levels..