Hey guys,
I understood that most of the AML/KYC/Compliance related positions are filled by fresh degree holders, be it local or private. May I ask if there are lower level positions for diploma business graduates? I intend to find positions for entry-level diploma positions in these field, while pursuing part time degree at SIM (UOL B&F). So, may I understand if there are any positions for diploma at all? Or is it strictly degree level only? |
Quote:
As a diploma holder, be prepared to accept a contractual role in this field until you get your degree. |
Quote:
On a side note, regarding the questions about when to jump etc. From my personal experience, fresh out of university I got a permanent role at a investment research firm which was a glorified date entry role at a salary of 2.9k. Left after 6 months and joined an American bank's KYC team as a contractor at 3k. Left after 7 months and joined a offshore bank at 3.75k. Jumped to my current bank when my ex manager at the American Bank called me up. 10% base increment and also AWS. Hence, effectively 19.2% increment. Dont be afraid to jump, do it early on in your career when you're young and relatively junior. Staying stagnant and comfortable will not get you far in terms of salary. |
I'm an undergrad due for completion of studies in March, and im interested in entering compliance. What would be the best method or channels to get into this industry (apart from knowing someone of course)?
I have tried looking at some of the job portals (jobstreet, jobsDB) but its kind of frustrating when you're searching for an entry level job and these jobs appear as your search results but requires 2-3 years experience :( |
Quote:
I am thinking of entering into compliance as well, but having an engrg degree just like u. I plan to sign up for the ICA dip in AML to increase my chances. But not sure whether it will help...Any advice are appreciated. |
Quote:
And yes, the ICA dip did help as according to my boss, they hoping to equip employees with at least an aml dip. Coincidentally, I manage to arm myself with that. There's also project management experience that I did previously that sort of help. |
got an offer from a jap bank at 2.9k perm role... i have 7 months of working experience in kyc role at a european bank contract role.. wonder if 2.9k is too low?
|
currently work as KYC/Client onboarding in a local FI, 2 years exp.
Plan to shift to compliance, can anyone advice will it be difficult for the switch ? |
Running the Compliance function at a small foreign bank here, so perhaps I get give a little inside track here.
Compliance is one of the few sub-sectors in banking that has been doing exceptionally well these past few years. This is probably down to global clampdown by regulators post-crisis, amplified by the fact that most banks (especially foreign ones) would prefer to hire people with relevant experience who can hit the ground running. You don't need a law degree to enter Compliance, although it does come in handy. Many of my fellow practitioners are in fact accounting trained. It would certainly help if you have an ICA diploma or ACAMS though. Every bit of advantage helps. I would say generally speaking this is how it works: Background - MAS/Industry > CAD/CPIB > ICA/ACAMS Prospects - Compliance > AML/KYC While a career in Compliance offers decent pay and relative job stability, fresh entrants should ponder if this is really where their passion lies. For most part, Compliance is not a very sexy or glam job, and chances are you won't be the most popular guy in office. Money can only motivate a person so much. Some food for thought. Happy to offer my 2 cents if there are any questions. :) |
better to quick, window of opportunity is closing soon as many banks have beefed up their compliance function and is currently reaching steady state, not expansionist state
for those who enter compliance, used to the least glamorous function, 10yrs ago, many of them are already at MD level now getting base 600k upwards. Some did better than the FO traders who are joblesss due to implications from libor/fx fixing scandals Quote:
|
All times are GMT +8. The time now is 02:05 PM. |
Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2