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

Unregistered 20-01-2019 12:18 AM

Quote:

Originally Posted by Unregistered (Post 113168)
Hey guys, worked for 2.5 years in a foreign bank AML role. Looking to move to MAS similar AML role. Will it be easy for me to move bank to foreign bank after working for 3-5 years in MAS?

Thanks guys

I'm currently working in MAS. Can confirm that it's pretty easy to move to banks as long as you work in a regulatory function.

Whether or not you can move to MAS, that would depend on quite a few things.

Unregistered 21-01-2019 07:20 PM

How is worklife balance at MAS? Need to work overtime? What is their official working hours?

Unregistered 07-02-2019 01:28 AM

Hi I would like to seek some advice.
I have 3 offers pending but i am in dilemma.

1. Big 4 compliance advisory for FI, perm role, x salary
2. International bank, ops risk management, perm role, 1.2x salary
3. Fund management firm, ops regulatory reporting, contract role, 1.4x salary

Which one should I go for?

Thanks!

Lionny 08-02-2019 09:25 PM

Quote:

Originally Posted by Unregistered (Post 113660)
Hi I would like to seek some advice.
I have 3 offers pending but i am in dilemma.

1. Big 4 compliance advisory for FI, perm role, x salary
2. International bank, ops risk management, perm role, 1.2x salary
3. Fund management firm, ops regulatory reporting, contract role, 1.4x salary

Which one should I go for?

Thanks!

What was your experience in? Based on the info you have provided, I'll go for 1st or 3rd only. Most likely 3rd for the salary sake, esp if I am young, and get another increment after contract ends (provided you have not been a job hopper)

1st for the credential and stability plus compliance advisory is a gd field to start/grow your career in. But I have friends' friends who works crazy long hours doing similar in a big 4.

For the 2nd, if it's just ops risk, not very keen. But depends on which bank it is ofcourse.

Have done ops risk as well as compliance advisory. First is alot of ****. Advisory is quite good and I enjoyed. You do have to know your stuff well though.

Unregistered 19-02-2019 06:24 PM

Anyone from citibank etc willing to provide job application referral for someone with 1.5 years of aml investigations experience?

newbie94 20-02-2019 11:47 PM

Seeking advice on how to enter as a fresh grad
 
Hi all, I'm a 25yo male who'll be graduating this May. 2nd lower Econs major. Did a 3-month temp job at $8/hour doing AML screening after my ORD :o and found the world of compliance quite fascinating as I know there's so much more to compliance than just screening. I'd like to ask a few questions here that may have already been asked.


1) What computer skills are needed to enter this field? What Excel functions do you use most in your job (e.g. Pivot table, Vlookup, Match, Index)? Is VBA necessary?
2) Is ACAMS really more recognised than ICA Diploma? If yes, is it worth spending money out of my own pocket (i.e. not company-sponsored) to try and attend seminars in order to gain the 40 credits sooner?
3) Is it likely to earn $10k per month before reaching 35yo? What's the typical progression?
4) What should I use my Skillsfuture credits on? (adding on to qn 1)


Hope some compliance professionals can help :)

Unregistered 25-02-2019 10:39 PM

Quote:

Originally Posted by newbie94 (Post 113955)
Hi all, I'm a 25yo male who'll be graduating this May. 2nd lower Econs major. Did a 3-month temp job at $8/hour doing AML screening after my ORD and found the world of compliance quite fascinating as I know there's so much more to compliance than just screening. I'd like to ask a few questions here that may have already been asked.


1) What computer skills are needed to enter this field? What Excel functions do you use most in your job (e.g. Pivot table, Vlookup, Match, Index)? Is VBA necessary?
2) Is ACAMS really more recognised than ICA Diploma? If yes, is it worth spending money out of my own pocket (i.e. not company-sponsored) to try and attend seminars in order to gain the 40 credits sooner?
3) Is it likely to earn $10k per month before reaching 35yo? What's the typical progression?
4) What should I use my Skillsfuture credits on? (adding on to qn 1)


Hope some compliance professionals can help

Hi all, I'm a 25yo male who'll be graduating this May. 2nd lower Econs major. Did a 3-month temp job at $8/hour doing AML screening after my ORD :o and found the world of compliance quite fascinating as I know there's so much more to compliance than just screening. I'd like to ask a few questions here that may have already been asked.


1) What computer skills are needed to enter this field? What Excel functions do you use most in your job (e.g. Pivot table, Vlookup, Match, Index)? Is VBA necessary?
Ans: generally peeps in kyc/cdd function uses excel at minimal complexity(no data crunching/financial modeling), simply updating/tracking of individual cases. VBA is not necessary but definitely good to have as people in this function are not really "excel geeks/savvy"

2) Is ACAMS really more recognised than ICA Diploma? If yes, is it worth spending money out of my own pocket (i.e. not company-sponsored) to try and attend seminars in order to gain the 40 credits sooner?
Ans: u were to get into kyc/cdd for start, i would say the cert is not really necessary.

3) Is it likely to earn $10k per month before reaching 35yo? What's the typical progression?
Ans: yes, with some luck + job hop within the umbrella

4) What should I use my Skillsfuture credits on? (adding on to qn 1)
Ans: anything that interest you :)

Hope some compliance professionals can help :)

Unregistered 01-03-2019 05:11 PM

Quote:

Originally Posted by newbie94 (Post 113955)
Hi all, I'm a 25yo male who'll be graduating this May. 2nd lower Econs major. Did a 3-month temp job at $8/hour doing AML screening after my ORD :o and found the world of compliance quite fascinating as I know there's so much more to compliance than just screening. I'd like to ask a few questions here that may have already been asked.


1) What computer skills are needed to enter this field? What Excel functions do you use most in your job (e.g. Pivot table, Vlookup, Match, Index)? Is VBA necessary?
2) Is ACAMS really more recognised than ICA Diploma? If yes, is it worth spending money out of my own pocket (i.e. not company-sponsored) to try and attend seminars in order to gain the 40 credits sooner?
3) Is it likely to earn $10k per month before reaching 35yo? What's the typical progression?
4) What should I use my Skillsfuture credits on? (adding on to qn 1)


Hope some compliance professionals can help :)

AML professional here with 5+ years of experience. Answering some of your questions as I enjoy helping young graduates understand about the world of Compliance/AML and get some basic knowledge under their belt.

1) Almost none required. Basic MS Office skills. From my experience, it's actually more advantageous NOT to possess the deeper Excel skillset, as anyone identified to have such skills will be pin pointed or worse, moved into a pure reporting/management information role, away from the technical aspects of AML.

2) ACAMS are geared for graduates/professionals with experience in the AML field under their belt, and looking for a physical cert that has a certain standing and recognition within the industry. ICA is mostly for individuals who do not have a degree, as it is usually recognised to be the equivalent of one in the AML world. In terms of recognition, both is deemed on par by recruiters and hiring managers.

I wouldn't advise you to shell out of your own pocket in order to get the ACAMS accreditation even before you have actual experience. Firstly, you don't even know if this is really something you will enjoy or that you wanna develop your career in. Secondly, there are many avenues to get sponsorship, the MAS Skillsfuture Study Grant is one, and company sponsorship is another.

3) It's possible but given that you will be 25/26, you will either have to be good enough that you get promoted every 1-2 years, otherwise you have to job hop. I started out when i was 26 and im 32 this year, at my 5th bank in the Financial Crime Compliance space, drawing $8250. My next jump possibly next year will put me close to the 10k range at the age of 33. For reference, I have a private degree (no honours) and hold the CAMS accreditation.

4) No idea, never used mine before.

Unregistered 01-03-2019 05:15 PM

Quote:

Originally Posted by Unregistered (Post 114142)
Hi all, I'm a 25yo male who'll be graduating this May. 2nd lower Econs major. Did a 3-month temp job at $8/hour doing AML screening after my ORD :o and found the world of compliance quite fascinating as I know there's so much more to compliance than just screening. I'd like to ask a few questions here that may have already been asked.


1) What computer skills are needed to enter this field? What Excel functions do you use most in your job (e.g. Pivot table, Vlookup, Match, Index)? Is VBA necessary?
Ans: generally peeps in kyc/cdd function uses excel at minimal complexity(no data crunching/financial modeling), simply updating/tracking of individual cases. VBA is not necessary but definitely good to have as people in this function are not really "excel geeks/savvy"

2) Is ACAMS really more recognised than ICA Diploma? If yes, is it worth spending money out of my own pocket (i.e. not company-sponsored) to try and attend seminars in order to gain the 40 credits sooner?
Ans: u were to get into kyc/cdd for start, i would say the cert is not really necessary.

3) Is it likely to earn $10k per month before reaching 35yo? What's the typical progression?
Ans: yes, with some luck + job hop within the umbrella

4) What should I use my Skillsfuture credits on? (adding on to qn 1)
Ans: anything that interest you :)

Hope some compliance professionals can help :)

AML professional here with 5+ years of experience. Answering some of your questions as I enjoy helping young graduates understand about the world of Compliance/AML and get some basic knowledge under their belt.

1) Almost none required. Basic MS Office skills. From my experience, it's actually more advantageous NOT to possess the deeper Excel skillset, as anyone identified to have such skills will be pin pointed or worse, moved into a pure reporting/management information role, away from the technical aspects of AML.

2) ACAMS are geared for graduates/professionals with experience in the AML field under their belt, and looking for a physical cert that has a certain standing and recognition within the industry. ICA is mostly for individuals who do not have a degree, as it is usually recognised to be the equivalent of one in the AML world. In terms of recognition, both is deemed on par by recruiters and hiring managers.

I wouldn't advise you to shell out of your own pocket in order to get the ACAMS accreditation even before you have actual experience. Firstly, you don't even know if this is really something you will enjoy or that you wanna develop your career in. Secondly, there are many avenues to get sponsorship, the MAS Skillsfuture Study Grant is one, and company sponsorship is another.

3) It's possible but given that you will be 25/26, you will either have to be good enough that you get promoted every 1-2 years, otherwise you have to job hop. I started out when i was 26 and im 32 this year, at my 5th bank in the Financial Crime Compliance space, drawing $8250. My next jump possibly next year will put me close to the 10k range at the age of 33. For reference, I have a private degree (no honours) and hold the CAMS accreditation.

4) No idea, never used mine before.

Unregistered 01-03-2019 06:17 PM

Quote:

Originally Posted by Unregistered (Post 114302)
AML professional here with 5+ years of experience. Answering some of your questions as I enjoy helping young graduates understand about the world of Compliance/AML and get some basic knowledge under their belt.

1) Almost none required. Basic MS Office skills. From my experience, it's actually more advantageous NOT to possess the deeper Excel skillset, as anyone identified to have such skills will be pin pointed or worse, moved into a pure reporting/management information role, away from the technical aspects of AML.

2) ACAMS are geared for graduates/professionals with experience in the AML field under their belt, and looking for a physical cert that has a certain standing and recognition within the industry. ICA is mostly for individuals who do not have a degree, as it is usually recognised to be the equivalent of one in the AML world. In terms of recognition, both is deemed on par by recruiters and hiring managers.

I wouldn't advise you to shell out of your own pocket in order to get the ACAMS accreditation even before you have actual experience. Firstly, you don't even know if this is really something you will enjoy or that you wanna develop your career in. Secondly, there are many avenues to get sponsorship, the MAS Skillsfuture Study Grant is one, and company sponsorship is another.

3) It's possible but given that you will be 25/26, you will either have to be good enough that you get promoted every 1-2 years, otherwise you have to job hop. I started out when i was 26 and im 32 this year, at my 5th bank in the Financial Crime Compliance space, drawing $8250. My next jump possibly next year will put me close to the 10k range at the age of 33. For reference, I have a private degree (no honours) and hold the CAMS accreditation.

4) No idea, never used mine before.

$8250 is impressive! How many months is the bonus? 3 months ?


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