Standard Chartered Bank Back Office - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Standard Chartered Bank Back Office

Reply
 
Thread Tools
  #1 (permalink)  
Old 12-11-2012, 05:25 PM
Junior Member
 
Join Date: Sep 2011
Posts: 7
brandon is on a distinguished road
Default Standard Chartered Bank Back Office

Hi, anyone have any comments on the working life and culture for SCB? Are the people generally nice?

Reply With Quote
  #2 (permalink)  
Old 12-11-2012, 07:22 PM
Unregistered
Guest
 
Posts: n/a
Default

It's like any bank. Depends on the team. As someone who has worked for a long time in financial services, I generally think most people working in the field started out as nice people. Life and competition then happens and takes care of the rest. By the end unless you have very strong principles, you'll end up with a ton of money but you'll be a cynic the rest of your life.

Reply With Quote
  #3 (permalink)  
Old 12-11-2012, 07:28 PM
Senior Member
 
Join Date: Nov 2012
Posts: 39
Tracker is on a distinguished road
Default

Really depends on which area are you looking at and whats the job role, from what I know SCB systems generally are quite antiquated which means more manual effort hence longer working hours. Can be from 9 or 10 am to 9 - 10pm.

Also are you talking about Operations servicing the international desk, or brokerage team etc Every area has different demands.

All in all most banks are more or less the same for Ops, if this is your first job in Ops then I suggest you bite the bullet and just go into it. No pain no gain.

But don't have the idea of starting in Ops and moving to the front desk, its possible but slim chance. Most ppl end up disappointed

Reply With Quote
  #4 (permalink)  
Old 12-11-2012, 10:01 PM
Unregistered
Guest
 
Posts: n/a
Default

left the bank after working in scb ops for a year, didnt like the new location at changi biz park and well work gets pretty boring and routine after a while and if you look at your avps or assistant managers and figure out thats whats your life is going in to be in the next 5-10 years, you will feel like getting out doing something more meaningful in your life - operations is simply not worth the time as its not a skill like law, accountancy, medicine or heck even teaching. Understand you are getting paid to basically endure repetitiveness, and do stuff that the front office do not want to do. Unless you are getting into middle office or front office, dont waste your youth in the backoffice as you will just regret it when you hit your 40s and your work gets outsourced to india or philippines.

From someone who left banking ops
Reply With Quote
  #5 (permalink)  
Old 12-11-2012, 11:55 PM
Junior Member
 
Join Date: Sep 2011
Posts: 7
brandon is on a distinguished road
Default

nice advice guys. actually i was referring to their accounting/controlling function. Believe this should be under Group Support or something like that. I assumed that this is also classified as back office (apparently I've never been in a bank).
Reply With Quote
  #6 (permalink)  
Old 13-11-2012, 10:13 PM
Senior Member
 
Join Date: Nov 2012
Posts: 39
Tracker is on a distinguished road
Default

Almost any dept within the bank's ops area will be quite mundane and boring. The areas you mentioned are maybe in the risk and control or compliance dept or internal audit (too many to list)

What the above chap said is correct, most ops jobs are pretty dead boring and its hardly a skilled job. The company may be fancy but the work is created purely because the systems are too manual to handle something, it can literally be something as silly as copying data from the bloomberg system and copying back to the banks systems.

That said money in the bank is usually quite good (starting 3.5 - 4K?) and also you get better benefits then working for a local MNC (20 plus days leave, insurance cover etc).

If you intend to come down this path (ops) be prepared to find a way out instead of being stuck trying to make it up the ranks. I laugh internally when I see Avp's (Assc Vice President) put in 14 hours a day and work on weekend etc, honestly is it really worth it especially when one day the jobs (Operations) will just get outsourced?

Try it for a taster, its always a good experience working in a major corporate. Just set your goals straight.
Reply With Quote

  #7 (permalink)  
Old 13-11-2012, 10:48 PM
Unregistered
Guest
 
Posts: n/a
Default

true, seriously if you are intending to go into banking operations, you might as well try out in the civil service as the pay is comparable. Only if you have a shot in front office or middle office will your salary and career prospects escalate faster than if you are in civil service as the experience you have gained in those fields would be much more valuable in later years. Other than that, just use treat bank ops jobs as a 'job' not a 'career', as a means to accumalate some money to buy a car or hdb, after that try to move on and establish a career somewhere else.
Reply With Quote
  #8 (permalink)  
Old 16-11-2012, 09:51 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
true, seriously if you are intending to go into banking operations, you might as well try out in the civil service as the pay is comparable. Only if you have a shot in front office or middle office will your salary and career prospects escalate faster than if you are in civil service as the experience you have gained in those fields would be much more valuable in later years. Other than that, just use treat bank ops jobs as a 'job' not a 'career', as a means to accumalate some money to buy a car or hdb, after that try to move on and establish a career somewhere else.
bank ops > civil service.

ops people make good salary too, and contrary to what you said, there are career paths within ops.

on the other hand CS is a dead end unless you're a scholar -- dead because it's impossible to hop from CS to private sector once you're in. dunno why, but the people in private sector simply don't like to hire ex-CS.
Reply With Quote
  #9 (permalink)  
Old 29-11-2012, 02:16 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by brandon View Post
nice advice guys. actually i was referring to their accounting/controlling function. Believe this should be under Group Support or something like that. I assumed that this is also classified as back office (apparently I've never been in a bank).
I am in the accounting/controlling department of a small foreign bank.

For accounting area, i do MAS regulatory reporting which includes, daily monitoring, weekly, fortnightly, monthly, quarterly, half yearly reports.

I also do AP/AR for subsidiary and close their monthly accounts.

For controlling, it's more like management accounting, doing up PnL for the various departments in the bank.
Reply With Quote
  #10 (permalink)  
Old 29-11-2012, 02:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I am in the accounting/controlling department of a small foreign bank.

For accounting area, i do MAS regulatory reporting which includes, daily monitoring, weekly, fortnightly, monthly, quarterly, half yearly reports.

I also do AP/AR for subsidiary and close their monthly accounts.

For controlling, it's more like management accounting, doing up PnL for the various departments in the bank.

Mind disclosing how many yrrs of working exp and salary range?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »

Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Banking - Back Office fishball Income and Jobs 236 27-01-2016 10:03 PM
What is the standard/average salary I can claim as a Senior Software Engineer pdhoot Income and Jobs 12 19-06-2013 01:06 PM
Should I call back after 2nd round of interview? xelon Income and Jobs 5 25-07-2012 11:37 PM
Back-up Career JeffLKS Income and Jobs 3 26-09-2011 12:26 AM
Network Engineer - Joo Koon, office hours jonkuek Marketplace and Find Work 0 21-06-2011 03:43 AM

» 30 Recent Threads
How is life as a doctor in... ( 1 2 3... Last Page)
511 Replies, 601,535 Views
Compare civil service salary ( 1 2 3... Last Page)
7,448 Replies, 4,311,427 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
952 Replies, 757,948 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
206 Replies, 66,332 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,245 Replies, 1,070,349 Views
Associate in DBS ( 1 2 3... Last Page)
145 Replies, 189,809 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
1,907 Replies, 723,965 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
497 Replies, 244,892 Views
Salaries of Professors in SG ( 1 2 3... Last Page)
127 Replies, 193,405 Views
Constituency Manager (People... ( 1 2 3... Last Page)
679 Replies, 330,385 Views
Top paying companies in SG for... ( 1 2 3... Last Page)
70 Replies, 56,357 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,077 Replies, 1,352,233 Views
UOB Management Associate Program ( 1 2 3... Last Page)
190 Replies, 106,990 Views
Queries about Cpib application ( 1 2 3... Last Page)
915 Replies, 366,452 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,400 Replies, 353,955 Views
Really that bad for engineers? ( 1 2 3... Last Page)
1,213 Replies, 797,484 Views
Lawyer Salary ( 1 2 3... Last Page)
4,069 Replies, 1,397,042 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,255 Replies, 430,869 Views
Exxonmobil ( 1 2)
14 Replies, 11,627 Views
GIC career ( 1 2 3... Last Page)
185 Replies, 242,539 Views
Commercial Affairs Officer ( 1 2 3... Last Page)
79 Replies, 46,204 Views
Foreigner in Banking Industry
4 Replies, 439 Views
Govtech bonus ( 1 2 3)
22 Replies, 2,622 Views
Enterprise Singapore hiriing... ( 1 2)
15 Replies, 3,604 Views
Asset Management Salary and... ( 1 2 3)
20 Replies, 6,564 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,170 Replies, 570,494 Views
anyone working at NCS ? ( 1 2 3... Last Page)
269 Replies, 202,361 Views
Salary Calculation
3 Replies, 478 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
781 Replies, 556,305 Views
OCBC Graduate Talent Programme... ( 1 2)
15 Replies, 4,372 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:10 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2