AML/Compliance/KYC professionals come in! - Page 126 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




AML/Compliance/KYC professionals come in!

Reply
 
Thread Tools
  #1251 (permalink)  
Old 20-01-2019, 12:18 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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.

Reply With Quote
  #1252 (permalink)  
Old 21-01-2019, 07:20 PM
Unregistered
Guest
 
Posts: n/a
Default

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

Reply With Quote
  #1253 (permalink)  
Old 07-02-2019, 01:28 AM
Unregistered
Guest
 
Posts: n/a
Default

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!

Reply With Quote
  #1254 (permalink)  
Old 08-02-2019, 09:25 PM
Junior Member
 
Join Date: Feb 2019
Posts: 4
Lionny is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
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.

Last edited by Lionny; 08-02-2019 at 09:29 PM.
Reply With Quote
  #1255 (permalink)  
Old 19-02-2019, 06:24 PM
Unregistered
Guest
 
Posts: n/a
Default

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


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #1256 (permalink)  
Old 20-02-2019, 11:47 PM
Junior Member
 
Join Date: Feb 2019
Posts: 3
newbie94 is on a distinguished road
Question 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 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
Reply With Quote

  #1257 (permalink)  
Old 25-02-2019, 10:39 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by newbie94 View Post
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 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
Reply With Quote
  #1258 (permalink)  
Old 01-03-2019, 05:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by newbie94 View Post
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
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.
Reply With Quote
  #1259 (permalink)  
Old 01-03-2019, 05:15 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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?
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.
Reply With Quote
  #1260 (permalink)  
Old 01-03-2019, 06:17 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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 ?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
MAS for Mid Career Professionals Soul Companies 1801 Today 12:51 AM
How to enter middle office (KYC, Compliance, Risk Management) in bank ? ZoOq Income and Jobs 17 04-10-2017 09:56 AM
Income for IT Professionals sudoku Income and Jobs 10 24-10-2014 07:20 PM
what does corporate hr executives/professionals do? lmaohaha Income and Jobs 2 12-05-2012 06:03 PM
Professionals and Managers - Is Your Pay above the Median? Salary.sg Income and Jobs 174 04-10-2009 07:42 PM

» 30 Recent Threads
Is getting a PMP worth it ?
4 Replies, 7,062 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,309 Replies, 4,983,264 Views
Lawyer Salary ( 1 2 3... Last Page)
21,014 Replies, 10,329,157 Views
GovTech ( 1 2 3... Last Page)
5,161 Replies, 2,163,525 Views
Career as Teacher ( 1 2 3... Last Page)
10,833 Replies, 6,665,997 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,801 Replies, 1,044,019 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
679 Replies, 388,346 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,573 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,620 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,413 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,371 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,773 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,015 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,770,313 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,455,133 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 309,126 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,918 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,805 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,130 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,407 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,560 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,205 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,502 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,575 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,495 Views
MX12 reappointed at MX11
8 Replies, 813 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,522 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,142,091 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,968 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,594 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:51 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2