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Old 15-07-2023, 11:35 PM
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I am a recent grad and am interested in a career in compliance. I read that there is quite a distinction between front line KYC roles where the salary/progression is relatively stagnant vs compliance analyst roles where there will be a steady increase in pay. When looking at a job listing, how do I tell which is which? And for compliance analyst roles with steady increments in pay, do I have to get into a management associate scheme right out of uni, or are there other entrypoints into such roles?
Not straightforward especially if you are new to the field or banking in general. First line KYC roles are generally front-facing, working with RMs directly to put up account opening files, collate documents, ensure formalities, conduct name screening checks, etc. Second line FCC/AML compliance roles then to be more on checks and reviews particularly on higher-risk cases, approving deviations/exceptions, investigations on transactions, filing of STR/SAR, testing and assurance, etc.

Naturally 2nd line compliance roles are harder and extremely competitive to enter - think legal and audit folks (who want to jump in for better wlb) and 1st line kyc folks (who want better pay, progression and exposure). If you canít secure a spot in compliance graduate prog, ur next best bet is big 4 advisory (forensics / AML) or compliance consulting just to name a few
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