Work in KYC or transaction monitoring, which is better?

[dreamzknight]

anyone can advise????

if its your first job or first 1-2 years in this field of work, honestly i don't think it matters.

Assuming you want to embark on this career path, your end game is to be familiarize with all the topics within the FCC sphere.

Depends. But I will choose KYC. Been in this area for 4 years. Good pay also. I dont really like transaction monitoring.

[dreamzknight]

Originally Posted by Unregistered

Depends. But I will choose KYC. Been in this area for 4 years. Good pay also. I dont really like transaction monitoring.

why???????/

Originally Posted by dreamzknight

why???????/

I just dont like to monitor transactions.

For kyc, there are sayings that it will be outsourced but regulators want it to be located within the company.

Maybe the process will be streamlined to make it more efficient.

[dreamzknight]

Originally Posted by Unregistered

I just dont like to monitor transactions.

For kyc, there are sayings that it will be outsourced but regulators want it to be located within the company.

Maybe the process will be streamlined to make it more efficient.

let me ask another qns, if a person is doing Retail CDD for 5 years and is his only job, is it good? Wouldnt employers think this person is a committed person?

Originally Posted by dreamzknight

let me ask another qns, if a person is doing Retail CDD for 5 years and is his only job, is it good? Wouldnt employers think this person is a committed person?

committed in what?

longevity in job tenure is one thing, but having relevant skillsets / knowledge for the advertised role supersedes all.

From the way you asked, i presume you're fishing for opinions on whether being in the same job for a reasonable amount of years = comparative advantage to other candidates who may not have the same... well it depends.

There are a dozens of other factors to consider as well.... it is certainly something "good to have"... but honestly, it's not going to be a deal-breaker for as long my candidate has the pre-requisite skills / knowledge.

Originally Posted by Unregistered

committed in what?

longevity in job tenure is one thing, but having relevant skillsets / knowledge for the advertised role supersedes all.

From the way you asked, i presume you're fishing for opinions on whether being in the same job for a reasonable amount of years = comparative advantage to other candidates who may not have the same... well it depends.

There are a dozens of other factors to consider as well.... it is certainly something "good to have"... but honestly, it's not going to be a deal-breaker for as long my candidate has the pre-requisite skills / knowledge.

Having the pre-requisite skills/knowledge is subjective for different managers isnt it?

Originally Posted by Unregistered

Having the pre-requisite skills/knowledge is subjective for different managers isnt it?

It is, but the same can be said for other conditions isn't it? My earlier response was targeted at TS' post.. I presume he will be applying for a experienced role given his background. In all honesty, which manager would hire someone who knows nuts regarding the nature of the scope for an experienced post that you're trying to fill?

At least for all the candidates I've interviewed for (i'm not the final decision maker btw) before filtering them out for my boss, the very first indications that i will be looking for is to validate their experiences / knowledge... based on what they've claimed in their CV / the cv sent by the recruiter or my HR... then followed up by all other contributing factors.

I'm not saying this is the only way of doing it which I've indicated clearly in my previous post... each FIs have their own way of measuring suitability

Originally Posted by Unregistered

Depends. But I will choose KYC. Been in this area for 4 years. Good pay also. I dont really like transaction monitoring.

Hey there! Since you mentioned that you have been working in kyc for 4years, may I seek your advice on my current situation? I was being offered a kyc role in a bank doing name matching, cdd, etc and was offered a 20% increment to join a UK mnc, however I wasn't sure of which offer should I take.

Would you recommend me to step my foot into the banking industry given that the prospect and learning curve is much better than non banking industry? (can eventually move from kyc to aml)


Please advise, thanks thanks!