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Unregistered 02-02-2018 12:48 AM

i was the one who posted about am compliance above.

yes agree AM life generally is good

for career progression:
since this is your 1st AM compliance, please stay for min total 2-3 years to avoid being seen as job hopper by next hire (AMs especially love to see stability in career - i guess due to nature of industry)

also, 2-3 yrs will be sufficient for you to pick up hands on compliance work (sfa/faa/outsourcing/aml/marketing materials/licensing/code of ethics)

the question to ask yourself before moving is, have i learnt sufficient so that in my next job, i am fairly confident of advising on the above topics when being asked by business

if not, try to get as much exposure.
also, build industry network at the same time.
when you work in big AM, snr management love to do benchmarking (what are other houses doing in terms of this policy/regulation??)

if you feel due to nature of your current business/setup, you really cant accelerate learning anymore, then you may leave after 2 yrs (this will be your reason for your headhunter. it is a compelling reason if it is true)

to help you in visualising ahead.
when you work in big/global AM, there are many projects. (may need to work with regional/global compliance teams; but usually dont need travel. do phone calls instead.)

gain your manager and snr management trust with your attitude , passion and reliability (i assume you love this line of work) to work in such projects. raise your hand if have to. the more responsibility you take, the higher you are giving your company chance to promote you or give you higher than average team member's increment.

when you work in big AM, other than the sound local compliance knowledge you should already have (which i commented above you should try and get as much in your current job as possible), you will now be dealing in global regs and policies.

for example fatca, crs, mifid, gdpr, form adv (US SEC), being part of global aml/sanction/code of ethics/etc committee. also certain aspects of hk/tw/SEA/australia/etc regulations (of course you not expected to know everything / usually you may have external counsel to help / and its pick up along the way kind of stuff). basically alot of stuff to keep learning and doing. the specifics, however, really depend on your company and team setup.

after you gain such local and regional exposure.
generally you have to ask yourself if u want to specialize in local or regional compliance.
personally i feel local is more fun
get to interact with business, decide on grey areas, and help drive the business

regional is alot of coordination work without getting too hands on in local jurisdiction matter

pay will take care of itself if you naturally show passion and aptitude and if you are willing and able.

if for what ever reason after your company cant pay you market rate after a certain point in time (dont grumble, because there's many factors why a company may not be able to pay you even though it wishes to), with the above experience, generally, another AM will be happy to take you in and pay you the market rate.

there are many AM compliance specialists recruiter on linkedin
go look for them to understand pay and prospect
they are more than happy to help

lastly, in 10 yrs u must aim to be head of compliance
else you are at higher risk of retrenchment when you reach 40s.



Quote:

Originally Posted by Unregistered (Post 104310)
I am working in a local asset mgt company as compliance mgr (only me in the compliance team) and mainly report to Director of Ops. 1 yr compliance exp + 5 yrs big4 Am audit exp.

Monthly salary $7+k And roughly 2 Mths bonuses.

After 1 yr working here, although the life is really good, it seems kinda settled down and no more opportunity to progress further.

Can anyone with AM compliance background advise if there is other opportunity out there that I can consider? Says to other bigger AM firm. What is the possible level I could achieve in next 5/10yrs and the salary range? 27 yrs old now but don't think can achieve higher position like director/chief compliance in future.


Unregistered 02-02-2018 09:29 AM

Quote:

Originally Posted by Unregistered (Post 104310)
I am working in a local asset mgt company as compliance mgr (only me in the compliance team) and mainly report to Director of Ops. 1 yr compliance exp + 5 yrs big4 Am audit exp.

Monthly salary $7+k And roughly 2 Mths bonuses.

After 1 yr working here, although the life is really good, it seems kinda settled down and no more opportunity to progress further.

Can anyone with AM compliance background advise if there is other opportunity out there that I can consider? Says to other bigger AM firm. What is the possible level I could achieve in next 5/10yrs and the salary range? 27 yrs old now but don't think can achieve higher position like director/chief compliance in future.

I work in a local asset management company as a compliance manager too. I'm a stand alone compliance reporting directly to management. Life is really good, but same as you, unless we move out to a bigger financial institution and manage compliance teams, there wont be much career progression.

I got about 10 years compliance experience, drawing 13k+ with around 6 months bonus annually.

Unregistered 02-02-2018 01:24 PM

a lot of compliance jobs in banks are going to take over by AI and machine learning, what is left are those advisory and MAS-facing roles which continue to be lucrative.
For those in asset management, better stay put and carry on clocking the hours. This is the best carry trade (low volatility, high returns, low stress but with low capital appreciation) in the current market environment - take it from someone from the dark side

Unregistered 02-02-2018 02:05 PM

Quote:

Originally Posted by Unregistered (Post 104315)
I work in a local asset management company as a compliance manager too. I'm a stand alone compliance reporting directly to management. Life is really good, but same as you, unless we move out to a bigger financial institution and manage compliance teams, there wont be much career progression.

I got about 10 years compliance experience, drawing 13k+ with around 6 months bonus annually.

Do you stay in the same firm or been changing company for salary jump? I also hope that can get salary level likes yours in future

Unregistered 02-02-2018 02:10 PM

Quote:

Originally Posted by Unregistered (Post 104324)
Do you stay in the same firm or been changing company for salary jump? I also hope that can get salary level likes yours in future

Most of the increase came from negotiating a good increment from changing company. I stayed about 3-4 years in each company, then negotiated about 30-40% increment each time i jumped.

Unregistered 02-02-2018 02:31 PM

Quote:

Originally Posted by Unregistered (Post 104325)
Most of the increase came from negotiating a good increment from changing company. I stayed about 3-4 years in each company, then negotiated about 30-40% increment each time i jumped.

Good strategy. Stress level is also much much lower than those working in big Financial institution.

Unregistered 02-02-2018 03:04 PM

Quote:

Originally Posted by Unregistered (Post 104275)
Anyone from or anyone knows does DBS transaction surveillance work OT a lot? If yes, usually until how late?

does anyone knows or from there? Can advise? Need to know how is it like

Unregistered 02-02-2018 03:56 PM

I typed a long response to this last night but seems it didn't get posted.

I will re-post it tonight.

Quote:

Originally Posted by Unregistered (Post 104310)
I am working in a local asset mgt company as compliance mgr (only me in the compliance team) and mainly report to Director of Ops. 1 yr compliance exp + 5 yrs big4 Am audit exp.

Monthly salary $7+k And roughly 2 Mths bonuses.

After 1 yr working here, although the life is really good, it seems kinda settled down and no more opportunity to progress further.

Can anyone with AM compliance background advise if there is other opportunity out there that I can consider? Says to other bigger AM firm. What is the possible level I could achieve in next 5/10yrs and the salary range? 27 yrs old now but don't think can achieve higher position like director/chief compliance in future.


Unregistered 02-02-2018 10:18 PM

PART 1

yes agree AM life generally is good

for career progression:
since this is your 1st AM compliance, please stay for min total 2-3 years to avoid being seen as job hopper by next hire (AMs especially love to see stability in career - i guess due to nature of industry)

also, 2-3 yrs will be sufficient for you to pick up hands on compliance work (sfa/faa/outsourcing/aml/marketing materials/licensing/code of ethics)

the question to ask yourself before moving is, have i learnt sufficient so that in my next job, i am fairly confident of advising on the above topics when being asked by business

if not, try to get as much exposure.
also, build industry network at the same time.
when you work in big AM, snr management love to do benchmarking (what are other houses doing in terms of this policy/regulation??)

if you feel due to nature of your current business/setup, you really cant accelerate learning anymore, then you may leave after 2 yrs (this will be your reason for your headhunter. it is a compelling reason if it is true)

to help you in visualising ahead.
when you work in big/global AM, there are many projects. (may need to work with regional/global compliance teams; but usually dont need travel. do phone calls instead.)

gain your manager and snr management trust with your attitude , passion and reliability (i assume you love this line of work) to work in such projects. raise your hand if have to. the more responsibility you take, the higher you are giving your company chance to promote you or give you higher than average team member's increment.



Quote:

Originally Posted by Unregistered (Post 104328)
I typed a long response to this last night but seems it didn't get posted.

I will re-post it tonight.


Unregistered 02-02-2018 10:21 PM

PART 2

when you work in big AM, other than the sound local compliance knowledge you should already have (which i commented above you should try and get as much in your current job as possible), you will now be dealing in global regs and policies.

for example fatca, crs, mifid, gdpr, form adv (US SEC), being part of global aml/sanction/code of ethics/etc committee. also certain aspects of hk/tw/SEA/australia/etc regulations (of course you not expected to know everything / usually you may have external counsel to help / and its pick up along the way kind of stuff). basically alot of stuff to keep learning and doing. the specifics, however, really depend on your company and team setup.

after you gain such local and regional exposure.
generally you have to ask yourself if u want to specialize in local or regional compliance.
personally i feel local is more fun
get to interact with business, decide on grey areas, and help drive the business

regional is alot of coordination work without getting too hands on in local jurisdiction matter

pay will take care of itself if you naturally show passion and aptitude and if you are willing and able.

if for what ever reason after your company cant pay you market rate after a certain point in time (dont grumble, because there's many factors why a company may not be able to pay you even though it wishes to), with the above experience, generally, another AM will be happy to take you in and pay you the market rate.

there are many AM compliance specialists recruiter on linkedin
go look for them to understand pay and prospect
they are more than happy to help

lastly, in 10 yrs u must aim to be head of compliance
else you are at higher risk of retrenchment when you reach 40s.


Quote:

Originally Posted by Unregistered (Post 104328)
I typed a long response to this last night but seems it didn't get posted.

I will re-post it tonight.



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