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AML/Compliance/KYC professionals come in!

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  #1001 (permalink)  
Old 02-11-2017, 03:24 PM
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Hi!

I have 3 years experience in aml and have completed the Adv Cert in GRC from ICA. I have a masters degree but not related to finance (did msc in a science subject). Am looking for a job in aml. How much can I expect for base pay?

Thanks in advance.
If you already have 3 years experience in AML, it will just depend on your last drawn pay. How much increment you will get depends on how well you do during the interview and how far you are from market pay.

Why dont you share how much are you getting now.

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  #1002 (permalink)  
Old 02-11-2017, 03:42 PM
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If you already have 3 years experience in AML, it will just depend on your last drawn pay. How much increment you will get depends on how well you do during the interview and how far you are from market pay.

Why dont you share how much are you getting now.
Have not been working since 2009. Back in 2009 my last drawn pay was around 4500.

I understand from a headhunter that organizations have a fixed budget to pay for a position. So, no matter how well one did in an interview they are not going to pay more.

I would like to know what is the current pay scale (approximately) in foreign banks, local banks and other FIs for candidates with 3 years experience and an advanced cert in grc.

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  #1003 (permalink)  
Old 02-11-2017, 07:45 PM
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Originally Posted by ocp View Post
Have not been working since 2009. Back in 2009 my last drawn pay was around 4500.

I understand from a headhunter that organizations have a fixed budget to pay for a position. So, no matter how well one did in an interview they are not going to pay more.

I would like to know what is the current pay scale (approximately) in foreign banks, local banks and other FIs for candidates with 3 years experience and an advanced cert in grc.
I am another poster. It depends on the seniority of the role you apply. As you have not been working in this field, I am not too sure if you can ask for a higher increment.

I am in kyc for around 3.5 years. Has acams n post graduate cert. Drawing close to 6k.

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  #1004 (permalink)  
Old 03-11-2017, 10:11 AM
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Originally Posted by ocp View Post
Have not been working since 2009. Back in 2009 my last drawn pay was around 4500.

I understand from a headhunter that organizations have a fixed budget to pay for a position. So, no matter how well one did in an interview they are not going to pay more.

I would like to know what is the current pay scale (approximately) in foreign banks, local banks and other FIs for candidates with 3 years experience and an advanced cert in grc.
i think 4500 is well within the budget for roles that require 3 years AML experience. Your harder task to to convince your interviewer that your experience from 2009 is still relevant now, especially there are so many changes in AML regulations.

If successful, you can possibly ask for around 20% increment realistically?


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  #1005 (permalink)  
Old 03-11-2017, 12:50 PM
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I am another poster. It depends on the seniority of the role you apply. As you have not been working in this field, I am not too sure if you can ask for a higher increment.

I am in kyc for around 3.5 years. Has acams n post graduate cert. Drawing close to 6k.
Thank you for the feedback. I guess 6k is an ideal figure after 3 years work experience. It would be the equivalent value of 4500 about 8 years back.

Would you mind sharing the requirements / functions which you fulfill in your work?

Thank you.

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Originally Posted by Unregistered View Post
i think 4500 is well within the budget for roles that require 3 years AML experience. Your harder task to to convince your interviewer that your experience from 2009 is still relevant now, especially there are so many changes in AML regulations.

If successful, you can possibly ask for around 20% increment realistically?
Thank you for the response. The experience is no doubt relevant. More so since laws, regulations and requirements are continuously upgraded. They haven't really changed, they have just upgraded to cover more ground and involve more functions. Yet, 10 years later fewer compliance officers will be required as many scopes of his work will get redundant because of better technology. Therefore, it is all about upgrading one's skills constantly with newer certifications and having the initiative to learn what else can be done out there with fintech, which have been doing. Anyways, I was told by a headhunter that the pay scale depends on market conditions. Currently the economy is not doing too well. But it really depends on the organization, in what they want to invest. I was also told that the salaries vary a lot, from as low as 2500 a month to 9000 a month from within the range of 1 to 5 years experience. Hence, wanted to know what is the average pay employees in foreign and local banks and other FIs are getting considering the work requirements they fulfill. Thank you.
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  #1006 (permalink)  
Old 03-11-2017, 01:04 PM
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Originally Posted by ocp View Post
Thank you for the feedback. I guess 6k is an ideal figure after 3 years work experience. It would be the equivalent value of 4500 about 8 years back.

Would you mind sharing the requirements / functions which you fulfill in your work?

Thank you.


Thank you for the response. The experience is no doubt relevant. More so since laws, regulations and requirements are continuously upgraded. They haven't really changed, they have just upgraded to cover more ground and involve more functions. Yet, 10 years later fewer compliance officers will be required as many scopes of his work will get redundant because of better technology. Therefore, it is all about upgrading one's skills constantly with newer certifications and having the initiative to learn what else can be done out there with fintech, which have been doing. Anyways, I was told by a headhunter that the pay scale depends on market conditions. Currently the economy is not doing too well. But it really depends on the organization, in what they want to invest. I was also told that the salaries vary a lot, from as low as 2500 a month to 9000 a month from within the range of 1 to 5 years experience. Hence, wanted to know what is the average pay employees in foreign and local banks and other FIs are getting considering the work requirements they fulfill. Thank you.
I am the kyc poster. Basically I do kyc for new customers. Hard to explain here. I think its not too difficult to do kyc but many people classify this as ops.
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  #1007 (permalink)  
Old 03-11-2017, 03:59 PM
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I am the kyc poster. Basically I do kyc for new customers. Hard to explain here. I think its not too difficult to do kyc but many people classify this as ops.
If you are purely just doing the KYC, then maybe people will classify this as ops. But if you are the one writing the AML Policy and where complex / higher risk cases are escalated to, then you definitely wont be classified as ops. Its the direction that you should be aiming for too
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  #1008 (permalink)  
Old 03-11-2017, 04:01 PM
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Default Reunion5150

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Originally Posted by ocp View Post
Thank you for the feedback. I guess 6k is an ideal figure after 3 years work experience. It would be the equivalent value of 4500 about 8 years back.

Would you mind sharing the requirements / functions which you fulfill in your work?

Thank you.


Thank you for the response. The experience is no doubt relevant. More so since laws, regulations and requirements are continuously upgraded. They haven't really changed, they have just upgraded to cover more ground and involve more functions. Yet, 10 years later fewer compliance officers will be required as many scopes of his work will get redundant because of better technology. Therefore, it is all about upgrading one's skills constantly with newer certifications and having the initiative to learn what else can be done out there with fintech, which have been doing. Anyways, I was told by a headhunter that the pay scale depends on market conditions. Currently the economy is not doing too well. But it really depends on the organization, in what they want to invest. I was also told that the salaries vary a lot, from as low as 2500 a month to 9000 a month from within the range of 1 to 5 years experience. Hence, wanted to know what is the average pay employees in foreign and local banks and other FIs are getting considering the work requirements they fulfill. Thank you.
I think you have already answered your own question already. Since the headhunter already told you that there is such a huge range, knowing the average doesnt really help you also. It really depends on the company that is hiring and what is the volume and complexity of the clients that are onboarded.
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  #1009 (permalink)  
Old 11-11-2017, 11:44 AM
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Hi all, I am a fresh graduate and recently I got an offer (3 months contract) from a bank doing FATCA/CRS. May I know if fatca/crs is considered compliance? What do you guys think of the career prospect for FATCA/CRS? Is it as good as aml/kyc?
They offered me $2.5k and said to be highly non renewable. Should I accept this contract? Thank you
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  #1010 (permalink)  
Old 11-11-2017, 11:46 AM
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Hi all, I am a fresh graduate and recently I got an offer (3 months contract) from a bank doing FATCA/CRS. May I know if fatca/crs is considered compliance? What do you guys think of the career prospect for FATCA/CRS? Is it as good as aml/kyc?
They offered me $2.5k and said to be highly non renewable. Should I accept this contract? Thank you
And there are not a lot informations about FATCA/CRA online as it is relatively new.
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