Sounds like BAML to me haha. Or maybe SCB.

Go for it, you have nothing to lose. What did they offer you btw?

neither. its RBC. why BAML or SCB? 50k with no bonus. I read/heard COB can be onerous and long hours.

lol why BAML? I am taking up their offer for ops role.

Ah yes, RBC. I think I saw that role on LinkedIn a month or so ago. That is a very good basic to start off your banking career. I wouldn't think twice if I were you, unless u are from a reputable uni with remarkable results. Many fresh banking grads would love to be in your shoes.

COB isn't the most glamorous of roles, but in the Ops space it's probably the least Ops-like in it's coverage.

5748
 

Thanks! I am from SMU but with normal results lol. 1 yr work exp, opted to RBC.

GL buddy. Remember, jump around while this sector is still hot, no value in staying put in the same place for an extended period of time for now.

All the best in your career.

2031
 

Thanks bro. extended period is say 2-3 years? =D now with the rise of blockchain, banking infrastructure might change..maybe not now..in 10 years?

I meant more like 1 year. After that maybe 1.5 - 2 years then jump again.

Nobody knows... maybe in 15 years time, banks wont even exist anymore?

lucky you. I got rejected after second round. All the best in Ops! try to make the jump after 1 year to other departments.

The closure of BSI Bank in Singapore shows how important the Ops role are. The lack of proper management of ops people has partially led to their downfall. Ops in bank is a huge vacuum now and alot to learn. take pride in it! The future is bright if you play your cards well

Actually, it highlights the importance of Compliance. But certain Ops roles will benefit from this trend as well.

Double-edged sword... I would hate to be part of the Compliance team from BSI. Will be a permanent black stain on my CV.

Agreed. MAS indeed are sending some strong signals to private banks/bankers. Huge market to be in now. on the hindsight due to china crash and weak asian markets, Investment banks/bank are quite down now. if your banks focus alot on IB, it can be worrying. Private banking is lucrative industry in asia, because of high net worth individuals here.

Hi, I'm a fresh grad from NUS (non-business/finance related course), 2:1 with no prior experience in compliance or banking. How likely is it to get an entry level analyst job in compliance in a bank/FI? Thanks in advance!

Pretty likely. The compliance field is opening up their junior positions and i see many fresh grads coming in. This is unlike the past where the compliance field generally consisted of experienced banking professionals.

Hi thank you for the reply really appreciate it!

I have searched several bank websites for openings as a compliance officer and most of them require at least a relevant finance/econs degree and 2-3 years experience in a similar function. Same goes with many other recruitment agencies' ads. My question therefore is how and where do I start? Would it be wiser to apply to banks directly (well knowing that they might trash my resume upon seeing my unrelated discipline of study) or should I turn to recruitment agencies instead?

Hi, I am another poster. You can apply through all sources you have mentioned. Your discipline doesnt matter. I have an econs degree and been in the field for 2 years. Prior to joining this field, I was from banking operations. To be honest, there are many contract roles out there and I know of many people going from contract to contract, from perm to contract etc. There are still perm roles out there, but you need to apply to the right company. Apply to the perm roles. Contract roles wont provide you with the career progression.

There are many instances of contracts being converted to perm, but obviously your performance and attitude must impress the hiring manager, there must be a available perm headcount, in order for that to happen.

And as what the reply stated, apply through all available sources. Positions in Compliance that accept fresh grads are much fewer than compared to Operations and Settlements for example. But don't give up, keep looking.

749
 

Yes this is provided there is a headcount. And you are competing against other contractors.
There is a reason why there are many contract roles in the first place. Lesson has taught me not to ever get a contract role (Unless you really cannot find a perm role). Why shortchange yourself by going for a contract role?

Obviously contract roles are a last resort. I'm just stating that it's not the end of the world to accept a contractual role.

On the flip side, I have seen perms jumping over to contractual roles, for a pretty substantial pay increment. I'm talking about 30-40%. So yes, it happens.

Yes you have pointed out the truth. Those who go from perm to contract mainly do so for the increment.
I am not against them from doing so but personally I am not for it. I was asked to go for a 6 month contract and the company can pay me 30% at least of my whole package.

for a start you can do contract job or join Credit suisse compliance prog. I have friends who endured 2 years of low pay but had 40-50% increment once they were confirmed. I think BAML is hiring intensively but need least 2 year experience.

I am sure ppl here have advice that jumping from ops to compliance is tough but not impossible. what i suggest is take up ops role as they are many now, learn the skills take the courses like acams ica etc then move on to compliance.

Estimate
 

Hi all,

May I know roughly what is the market starting pay for a transaction monitoring analyst?

Thanks guys

my guess is:

local bank (3100 - 3800) foreign bank

Need some advice. Understand that most post here focus mainly on AML.. but what about regulatory compliance? meaning all other regulations excluding 626. Any advice on that?

Which is more interesting? AML or Compliance?

Regulatory compliance is incredibly dry but it's very very stable and quite in-demand. It's not as hot as AML/KYC at the moment but it's something that I am looking to move into eventually as well.

Is it easier to get into regulatory compliance?

Typically how to get such a role?

How is the salary compared to other compliance?

Unregistered
 

How high is the probability of jumping from due diligence to monitoring & surveillance?

Hi, can someone please share whats the pay for

Credit Suisse Compliance Programme
VS
BNP Compliance Programme?

Thanks

Credit Suisse is for university graduates. BNP is for mostly poly graduates.

Pay is obviously different

Hi guys,

How bout roles like trade/market surveillance? How can I find an entry level role in that position and if there is prospect in that career path?

RBC periodic review? Heard they have to clear some 1.3k reviews by Jul 17, and with like 3 headcounts...gd luck

U mean ur in front office doing DD and want to go to compliance for monitoring and surveillance? Then it's possible but hire u as almost fresh grad equivalent.

If ur in aml, Usually it's the other way round. We want to join due di advisory from monitoring and surveillance.

Start by taking contract roles in compliance. Then work hard and smart and people will want to convert u to perm.

Regulatory compliance or AML also same way in as above.

HAHA. I hope you were attempting to troll, because if that's what you really know of the industry, you are never getting far.

It is not easy. Typically they only look at experienced personnel within the Compliance space, not restricted to Regulatory. I have seen the one or two fresh grads that managed to get into Reg Compliance but they have stellar results and internships.

Hi guys,

How bout roles like trade/market surveillance? How can I find an entry level role in that position and if there is prospect in that career path? what kind of compliance is that classified as?

I'm assuming you are leaning towards the track of transactions monitoring. Some banks call it the Surveillance team, some simply call it Transactions Monitoring, some have fancy acronyms for it, but it's all referring to the same thing, and yes it sits within Compliance.

This function do look at fresh grad applicants, shop around the banks websites and job portals, you might get lucky. I think there's definitely prospects within Compliance right now, the money is higher than an average back office role and there's security as well.

Can a person with no relevant experience, other than difficult, get into compliance?
Or does he at least need to have compliance certification, before he can do compliance?