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Originally Posted by Unregistered
Hi, fresh grad here. Have been looking to land a job before I graduated but to no avail. As the window for companies hiring is over, I would think that my best bet now would be to find a contract role. Would like to get some insight on 2 things, mainly recruiters and compliance as a career.
What are the main types of contract positions available at recruitment agencies for fresh grads, and is experience absolutely necessary for entry level positions? Also, which recruiters would you guys recommend? RE? Randstad?
There seems to be some conflicting opinions on this thread about the future of compliance related roles - some have said it's a matter of time before it's outsourced while some say that there is demand and that the market is hot right now. As a fresh grad, I'm looking for a career with Long term prospects rather than starting pay.
Thanks in advance.
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Compliance and AML are still good for another 5 years or so. There will still be demand but most banks prefer to hire experienced individuals. If contracting is the way to go for you to gain more experience, then you can try that option.
At this time and age, Compliance and AML are meant for people who constantly wants to strive for a difference and be ambitious. In fact, the whole working environment has evolved and changed.
MAS is currently looking outside of Singapore, to digitize surveillance work. Basic typology will no longer be effective in 5 years time as crooks are getting smarter. Data analysis will be the new trend to identify gaps within the bank. This is also the only reason why banks will continue to hire Compliance and AML expertise in Singapore rather than outsourcing work to lower cost locations. If you wants a stable job and is resistant to changes, Compliance and AML will not be suitable. With the world evolving and becoming more digitized, all industry must evolved to catch up. This is the same reason why you are not using iphone 1 anymore.
There are talks that in 10 years time, brick and mortar banks will cease to exist. Everyone will do their banking needs online and the whole banking environment will change.