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AML/Compliance/KYC professionals come in!

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  #1341 (permalink)  
Old 11-07-2019, 08:26 PM
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hey guys! for the ACAM cert, anyone know how much will it cost ?? can't seem to find the price list and etc in their website.

thanks

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  #1342 (permalink)  
Old 14-07-2019, 11:12 PM
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Originally Posted by kenalowballed View Post
Anyone can advice?
I am diploma holder and have been doing credit admin for about a year now
Currently drawing $2250 and I want to do Compliance but most of these roles are for degree holders only.

I tried applying for KYC/CDD roles but most of these are just the outsourced name screening functions and only offer me 1.8k-2k citing that my experience is not relevant. Is it worth taking these roles if I want to go into compliance?
I am intending to quit my job too because I have to frequently OT and it's not suitable for me when I am studying part time.
Which role in the Compliance do you wish to enter? Regulatory/Financial crime? If you wish to enter financial crime compliance("FCC"), you could learn some basic in KYC/CDD since this role has interaction with FCC. Go for the role which do the full process(client outreach to operations). After a few years and with some luck(in your networking), you may enter the FCC. Do note you will need a degree i believe.

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  #1343 (permalink)  
Old 16-07-2019, 12:07 AM
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how to become a compliance officer? AML/KYC?
i have a degree but not relevant. advice?

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  #1344 (permalink)  
Old 16-07-2019, 10:22 PM
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Originally Posted by Unregistered View Post
how to become a compliance officer? AML/KYC?
i have a degree but not relevant. advice?
an honest response to your question: firstly, you need to go through the interview process and get hired. thank you
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  #1345 (permalink)  
Old 16-07-2019, 10:44 PM
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Originally Posted by youdontknowme View Post
hey guys! for the ACAM cert, anyone know how much will it cost ?? can't seem to find the price list and etc in their website.

thanks
About 3k SGD (converted via USD) all in for 1 year CAMS membership (compulsory), SG AML Regime Exam & Certification Course itself.

If you are a Singaporean below 40 or PR, you will be eligible for 70% IBF Funding provided that you pass both papers.

Singaporean above 40, it will be 90%.
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  #1346 (permalink)  
Old 16-07-2019, 10:50 PM
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Originally Posted by Unregistered View Post
how to become a compliance officer? AML/KYC?
i have a degree but not relevant. advice?
Start off with contract roles that are more lenient in the requirements and learn the foundation work of compliance function - name screening, transaction alerts clearance, KYC documentations & operations related work.

From there, ask for internal transfer or look for other opportunities elsewhere where you can both value-add the company and yourself.
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  #1347 (permalink)  
Old 16-07-2019, 10:56 PM
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Originally Posted by Unregistered View Post
I would like to do compliance eventually but I am still a diploma holder and most positions I see that are not name screening or alerts disposition are only available to degree holders.
To be honest, you are mostly constricted to those roles unless you finish a degree course. No two way about it. However, do take in comfort that there are still companies out there which take in diploma holders that are hardworking and show commitment to pursue their interests in this area.
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  #1348 (permalink)  
Old 16-07-2019, 11:10 PM
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Originally Posted by FATFMember View Post
About 3k SGD (converted via USD) all in for 1 year CAMS membership (compulsory), SG AML Regime Exam & Certification Course itself.

If you are a Singaporean below 40 or PR, you will be eligible for 70% IBF Funding provided that you pass both papers.

Singaporean above 40, it will be 90%.
New to this field...What’s the difference between ICA and ACAMS?
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  #1349 (permalink)  
Old 16-07-2019, 11:28 PM
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Originally Posted by Unregistered View Post
New to this field...What’s the difference between ICA and ACAMS?
Different professional bodies awarding their own certification in compliance function. ACAMS is pure learning via study guide and e-learning while ICA has classes and presentations.
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  #1350 (permalink)  
Old 17-07-2019, 09:03 AM
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"Many banks have sugar coated this cheap labour as "graduate program". Think of Credit Suisse, BNP Paribas etc. This type of contract job or compliance graduate program, is not even remotely close to the Management Associate Program or Graduate Program in various other banks (i.e. you will not be treated as a superstar with star rotations and star promotion paths)"

Quoted the above portion from a reply way back.

Should one then have chosen the Credit Suisse/BNP programme or a local bank graduate programme with a compliance rotation amongst others?

Thank you!
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