Anyone applied to this year's Credit Suisse Compliance Academy and got a chance to interview?

Haven't...

did the panel interview last week, still waiting for them to get back :(

My status' been stuck at 'initial review' since a month ago... Hope they get back to you soon with a positive outcome!

Do you know when will the program start? Thanks!

Likely late Aug / early Sept.

Credit Suisse is in deep **** now bad time to join.
Their risk and compliance head got fired after years and years of repeated losses.
Expect kosong bonus for the next few years esp for BO roles like compliance

"after years and years of repeated losses".... which year is it? You sniffing glue very high ah?

Lol.. i think you are not aware on how many scandals Credit Suisse involved recently. From wirecard, archegos, greenhill capital, all those are big scandals.

They are actually small in terms of market cap. You are talking about 22B. Amazon, Microsoft, Apple market cap is around 2T. Their size is 90x of credit suisse.

+ spygate & luckin coffee. Archegos losses > 2020 annual net income. 2bn fund raising in the works.

kudos to you for even bothering to reply to that dude whose comments speak volume of his intellect.

Applied this program in Feb and has been stuck "initial review" since March.

Anyone know if it is still possible to get called for interview?

Just some advice from my perspective

- Credit Suisse has been doing very well in APAC both in private banking and investment banking sector
- for those joining the program, I would say this is a good start for a compliance career
a. 2 years of job security, and after program ended, there are still internal mobility opportunities. Conversion depends on headcount and budget
b. good exposure to compliance roles and knowledge, hard to start off in compliance roles in banking sector especially for fresh grads (usually start off as KYC or smthing)
- The scandals are definitely huge but not much impact to lower levels compliance positions (business as usual)
- there is no bonus for 2 years anyway and pay is fixed

I can also answer anything related to compliance academy to my best knowledge :)

Same here, feel free to enquire!

For the previous batches, when did you get your offers? If its been a month since the 2nd interview, does that mean I'm no longer considered? Deciding between holding out for this and an offer that I recently received.

whats the offer that you have @ hand now?

What offer is this so we can compare with this BB MO/BO!

Should be 4-5k. GIC is the pay master at 5k ish for their investment services gpp

decided to take the other offer in the end, thks

Signed an offer with CS CA but having cold feet right now as other companies are still reaching out to me. Would like to enquire how much would the increment be once converted after the 2 yrs? When are the professional papers period? And where would the office be at?

Do u know how much is the pay increment once u get converted to permanent employee after 2 yrs??

Hi, heard they are offering 4k?

Hi, heard that they are offering 4.2k could you confirm? Heard that the professional papers will be held throughout the 2 years and believe at their changi branch

Heard they are offering 4.2 right? Anyways the HR said that the professional papers are held throughout the 2 years and office will largely be at their Changi office (but rare exceptional cases could be at suntec.

Heard the pay is 4.2k yeah?? Anyways HR said professional papers are taken over the course of the 2 years. Workplace may be either changi or suntec there, bust mostly changi

5k after 2 years. Conversion depends on headcount so not guaranteed

May i ask how your experience has been? What is the conversion rate of the past batches? How is progression after graduating?

- Experience depends on the teams you are in, some might like the nature of work, some might feel that it does not suit them
- Conversion rate is around 80% for past 3 years
- I would say there is good progression even if you choose not to stay in compliance roles, you can opt for front office or more operational roles if there are internal roles and opportunities

I would say it's a steep uphill battle to go from compliance to front office role right away. In order of hierarchy, the front office hires from the front office, followed by middle office (eg risk, transaction roles) followed lastly by back office roles such as compliance because there is hardly any skill transfer that you can bring from the back office to the front office. Depending on the front office function, that would probably mean markets knowledge, financial modelling skills or firm and industrial analytical skills.

To add on, it's probably more realistic to aim for middle office functions from compliance first. Everyone in the local unis' finance courses pretty much aims for a front office role. That gives us a number of probably 500-600 people every year even without considering those coming from UK or US unis.

Being 1 of the local uni students, I can say that students aiming for front office roles would probably have 3-5 finance internships (mixture of PT and FT roles) by the time they graduate and the number of internships seems to be rising with every new uni batch. In total, these people would have approximately 1 year of front office experience by the time they graduate.

Put yourself in the shoes of the hirer, would you hire someone who has compliance experience but with 0 front office experience or someone with front office experience?

Bump thread ..

Does anyone know the market rate for mo/bo officers with 5 yoe? Glassdoor and mycareersfuture seems to give a huge range.

$5500-$6500 depending on your role for direct hiring. For those on program can go as high as $7700 for AVP.

That's very helpful! May I ask whether you know this because you've worked there before?

I'm curious as glassdoor and mycareersfuture seems to paint a different picture, with 5yoe's pay range at upwards of 8k-10k+. Which is really mind blowing.

Credit suisse is in financial trouble given the recent fallout. Hence, you have to be realistic about the comp package for junior levels.

Been in CS for 5 years since grad. Currently at 7.4k. So this range is somewhat accurate. But someone jumping in from another bank would probably be able to command more.

Any rumors of layoffs or cost cutting given the recent fallout?

There's been loads of leavers, but also plenty of hiring going on as well.

In terms of cost cutting, I guess the general sentiment is next March's increment and bonus will be mediocre, if any at all.

Thanks for sharing - which aspect of MO/BO are you in?

Wow... I have been in CS for more than 5 years now.
And I am with their Digital team.
Average bonus is 3-4 mths.
Best was 2017 at 6 mths
2020 was ok at 3 mths