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AML/Compliance/KYC professionals come in!

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  #501 (permalink)  
Old 14-09-2016, 09:35 AM
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Hi all, I'm currently doing compliance in the stockbroking industry. Have been here for about 5 years and I find it very difficult to move to a bank. There's not much specialisation for my role cos I do everything from advisory to TM to AML. But it seems like experience in a non bank FI is not considered relevant. The pay is much much lower than market rate (currently only low 3s) and that's why I'm looking to move. Having been trying to look for quite a while but only contract positions available. Not sure if it's worth giving up a perm position here for a contract one in a bank.
Not easy but try looking for a regional position. Regional roles generally prefer individuals who are familiar in all aspects rather than specializing. There are more junior regional positions as well. Be prepared to travel for work as well.

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  #502 (permalink)  
Old 14-09-2016, 05:44 PM
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Not easy but try looking for a regional position. Regional roles generally prefer individuals who are familiar in all aspects rather than specializing. There are more junior regional positions as well. Be prepared to travel for work as well.
Thanks for the advice! What about compliance role in a boutique fund management company? Basically a one man show for compliance. Are the prospects good for such a direction?

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  #503 (permalink)  
Old 14-09-2016, 06:41 PM
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Hi all, i am wondering what are the potential pathways from compliance trade monitoring to move towards compliance advisory. Would appreciate any advice.

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  #504 (permalink)  
Old 16-09-2016, 04:34 PM
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Hi, I was recently interviewed about a consultancy role consisting of on-site aml/kyc document checks etc for clients. I was told this was not much about advising although it was noted as a consultancy job.

What are the career progression in this field? Is this job considered a generic compliance?
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  #505 (permalink)  
Old 19-09-2016, 03:01 PM
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Thanks for the advice! What about compliance role in a boutique fund management company? Basically a one man show for compliance. Are the prospects good for such a direction?
Personally, I do not like a standalone position. Compliance is a complex topic with evolving standards and regulatory expectations. If you only have a few years of experience, you would not have sufficient knowledge and experience to properly advice the business, and you will be limiting your personal knowledge and growth. The risk of non-compliance is high, and Singapore is a very small market. If you messed up in a company, words spread fairly quickly and your future career path is down the toilet. You should only take on the role if you have a very strong network of individuals doing similar roles as you, so that you can discuss issues and bounce concerns with each other.
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  #506 (permalink)  
Old 20-09-2016, 02:35 PM
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Is it too soon to quit after 8 months of doing AML ops? I dun see any possibility of promoting and ppl here say it's best to jump around, just dun want to appear like a job hopper but I dun wanna get stuck here any longer also


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  #507 (permalink)  
Old 20-09-2016, 03:22 PM
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Is it too soon to quit after 8 months of doing AML ops? I dun see any possibility of promoting and ppl here say it's best to jump around, just dun want to appear like a job hopper but I dun wanna get stuck here any longer also
Are you a contract or a perm? If you're a contract, feel free to jump anytime, you have a ready-made reason to leave. Perm, better think of something that sounds good.
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  #508 (permalink)  
Old 20-09-2016, 04:42 PM
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Default Big 4 Compliance

Have an interview lined up at one of the B4 for a role in compliance (regulatory). Just wondering what the prospects are for this job, whether I can eventually jump to a MO position like risk at a bank with a few years of experience, and what kind of salary I should be expecting. Thanks!
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  #509 (permalink)  
Old 20-09-2016, 07:08 PM
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Are you a contract or a perm? If you're a contract, feel free to jump anytime, you have a ready-made reason to leave. Perm, better think of something that sounds good.
I'm perm ah. The real reason is cause I'm being forced to learn at the same pace as others but I feel I'm ready to learn more. If I show signs of wanting to take more responsibility or more work some ppl may not be happy. N if I jump can get higher pay also... Just that 8 months doesn't look gd on resume so quite conflicted. Any advice from seniors from compliance here?
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  #510 (permalink)  
Old 20-09-2016, 09:23 PM
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[QUOTE=Unregistered;90553]Is it too soon to quit after 8 months of doing AML ops? I dun see any possibility of promoting and ppl here say it's best to jump around, just dun want to appear like a job hopper but I dun wanna get stuck here any longer also[/QUOTE

Actually, nobody is stopping you from leaving. But 8 months is too short a tenure, reflects alot about you as a person. Job hopping is definitely no good, because you will see the effect in the long run. Your reason of no promotion possibility is not valid. What makes you think your new workplace promotes you fast?

I know in this forum alot of people talk about job hopping. You got to play your game well. Ask yourself: Why do you want to leave after 8 months, is it a valid reason? What will employers think of you. Is 8 months too short a tenure to learn anything? Job hop is possibility if there is a strategic reason. But then after 2 to 3 hops, you will see that your credentials really looks bad. 3 companies in 3 years vs 3 years solid experience in one company. Think about it yourself.


I am not saying you should be loyal to one company. But after 3 years in a company, perhaps your reason for leaving is more substantial. Change of environment? Time to move on to learning other things? Challenge yourself in new area?
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