Quote:
Originally Posted by Unregistered
Hi, just wondering anyone here has experience working in a compliance role in a bank. Just exploring my career options and I'm wondering if this could be a possible career route.
I've heard of aml, kyc etc etc but just wondering on a daily basis is it a very repeititive work, what are the prospects and working hours like? ( must work on weekends??) is it also very stressful to the point u have no life outside of work?
Thanks in advance  |
Hi !
Graduated last yr May and gotten a compliance role with a european bank specializing in the area of aml risk n controls.
At entry levels, AML/kyc roles r paid lower than their middle/front office counterparts. You don't really have to work late / OT over the wkends becoz workloads r generally manageable. But of coz there r days u have to come back during wkends for UAT testing, etc. And , u will have plenty of "life" outside. It all comes down to how u manage your work. Every tasks that you're given with r tagged with a deadline. U screw it up, u stay back n finish it. Some banks separate AML/KYC with compliance coz at low lvls things r generally quite mundane. But as u progresses up, to somebody that provides advisory, yr pay increases exponentially. At AVP level, you can expect around 5-7k basic depending on which part of the bank u serve. From what i know, private banking pays much more to their AML executives... As you clock the hours, you might wanna explore different other compliance functions. There r specific areas within compliance that pays very well
Unfortunately, they dont just accept any fresh grad with no prior exp in regulatory roles, you gotta work your way up there. There r also professional certs (subsidized by
MAS) which banks favor it a lot.
P.S: graduated with FCH and drawing just abit below mid 3s.