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-   -   AML/Compliance/KYC professionals come in! (https://forums.salary.sg/income-jobs/3243-aml-compliance-kyc-professionals-come.html)

Unregistered 10-05-2018 07:17 PM

Quote:

Originally Posted by Unregistered (Post 107181)
Hey guys, fresh grad here and im particularly interested in the field of AML/compliance & was offered this position.

May i know which is a better choice ?
salary is not my main focus but experience and skills is what im looking after.


Company A (insurance coy)
-do ppt for training, getting documents from other departments and reporting to regulators, doing research for regulatory updates and fieldwork


Company B (global bank)
-getting documents from clients, kyc and to pass on to cdd stage

To be honest, both roles are administrative in nature. Compliance is more towards advisory n policy.

Even for ur kyc role, it is the document collection work. The real kyc work comes at the cdd stage.

Unregistered 10-05-2018 07:23 PM

Quote:

Originally Posted by Unregistered (Post 107182)
To be honest, both roles are administrative in nature. Compliance is more towards advisory n policy.

Even for ur kyc role, it is the document collection work. The real kyc work comes at the cdd stage.

thanks, you're right. but i believe i do need to start somewhere as a fresh grad without any prior experience. so am i right to say company b will be a better place to start and progress to cdd stage in the future ?

Unregistered 10-05-2018 08:17 PM

Quote:

Originally Posted by Unregistered (Post 107183)
thanks, you're right. but i believe i do need to start somewhere as a fresh grad without any prior experience. so am i right to say company b will be a better place to start and progress to cdd stage in the future ?


From the description, yes B seems like a better choice. You wont learn much from doing ppt slides or research for regulatory updates etc.

You need to have a good mentor at work. For KYC, if you are lucky enough, you may deal with auditors and regulator. You may also assist in drafting policies and implementing it.

Unregistered 18-05-2018 08:02 AM

Hi everyone, keen to get a general consensus on perm vs contract job. Currently am in a back office role, which is a perm job. I have been offered a middle office role which is a 1 year contract. Not sure if I should take it up, as I may be out of a job in a year again. However I am keen to move out of the back office, but not sure if it's a worthwhile risk to take.

Also, how many % increment in my current salary can I ask for if I move from a perm to a contract role? Thanks.

Passerby A 18-05-2018 09:26 AM

Quote:

Originally Posted by Unregistered (Post 107321)
Hi everyone, keen to get a general consensus on perm vs contract job. Currently am in a back office role, which is a perm job. I have been offered a middle office role which is a 1 year contract. Not sure if I should take it up, as I may be out of a job in a year again. However I am keen to move out of the back office, but not sure if it's a worthwhile risk to take.

Also, how many % increment in my current salary can I ask for if I move from a perm to a contract role? Thanks.

Contractual roles mean the risks are on you. Typical budget of any company is to pay 20% more than the said perm role. So look at 15-20% on top of the expected pay of such a perm role rather than to benchmark against your current salary.

Random Stranger 18-05-2018 08:35 PM

i'm currently working as CDDKYC analyst and accumulated 4.5 years experience, drawing $5k/mth currently.

should i be happy?

should i study for CAMS/ICA? will it help?

thank you for advice...

Unregistered 18-05-2018 11:00 PM

Quote:

Originally Posted by Random Stranger (Post 107334)
i'm currently working as CDDKYC analyst and accumulated 4.5 years experience, drawing $5k/mth currently.

should i be happy?

should i study for CAMS/ICA? will it help?

thank you for advice...

Are you from a bank? How many months of bonus are you getting?

ACAMS does help in your work. Pay wise may not.

Unregistered 19-05-2018 06:01 PM

Quote:

Originally Posted by Unregistered (Post 107336)
Are you from a bank? How many months of bonus are you getting?

ACAMS does help in your work. Pay wise may not.

thanks for answering. yes iím in an international bank.

Unregistered 19-05-2018 06:03 PM

Quote:

Originally Posted by Unregistered (Post 107342)
thanks for answering. yes iím in an international bank.

sorry post too fast. iím in international bank, bonus about 1.5 to 2 months. my key aim is to find ways to earn higher salary

Unregistered 19-05-2018 07:19 PM

Quote:

Originally Posted by Unregistered (Post 107343)
sorry post too fast. iím in international bank, bonus about 1.5 to 2 months. my key aim is to find ways to earn higher salary

Thanks for the reply. acams can help you to understand your work better. Perhaps you can apply for more senior roles or companies that can pay well.

I am in kyc for 4 years plus 1 year in operations. I am getting abt 6.2k/month with Aws. Bonus is average 2 months. I switched to a well known MNC in payments industry from banking.

I had acams as well but it does not equate to higher pay.


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