Originally Posted by Unregistered (Post 168138)

I’m currently drawing around $4200 in a regional bank doing perm CDD/KYC work.

Abit of my background, I have stayed with this bank for more than 6 years, armed with local uni degree (hons) cert in Mathematics.

I started looking out for jobs recently as my pay has been quite stagnant since 2019.

After going for quite a few interviews, I settled for a 2-year contract offer from a foreign CIB as a KYC Analyst. They are giving me $5100. They told me that this’s a long term contract and after the contract has ended, many staff usually just renew the contract unless they’re really CMI. It was even stated in the offer letter that “At the end of the contract, it will be renewable given the mutual agreement between the employer and the staff.” Notice period is 2 months if I want to resign.

Actually, that bank is my second choice as my aspiration is to join JPMC. However, the competition at JPMC is really stiff and I cannot even get past the first interview even when my friend had referred me for the role.

A few questions for the bros here,

1) Based on my description above, do you think that I’ve made a right choice in the move? From perm to contract.

2) Should I just settle for this bank and work hard to try to transfer to their perm position? Or should I just continue to try JPMC? Honestly, I’m really disheartened with JPMC even though I’ve put in so much effort to prepare for the interview and make use of all my connections to get the interview opportunity.

Originally Posted by Unregistered (Post 168138)

I’m currently drawing around $4200 in a regional bank doing perm CDD/KYC work.

Abit of my background, I have stayed with this bank for more than 6 years, armed with local uni degree (hons) cert in Mathematics.

I started looking out for jobs recently as my pay has been quite stagnant since 2019.

After going for quite a few interviews, I settled for a 2-year contract offer from a foreign CIB as a KYC Analyst. They are giving me $5100. They told me that this’s a long term contract and after the contract has ended, many staff usually just renew the contract unless they’re really CMI. It was even stated in the offer letter that “At the end of the contract, it will be renewable given the mutual agreement between the employer and the staff.” Notice period is 2 months if I want to resign.

Actually, that bank is my second choice as my aspiration is to join JPMC. However, the competition at JPMC is really stiff and I cannot even get past the first interview even when my friend had referred me for the role.

A few questions for the bros here,

1) Based on my description above, do you think that I’ve made a right choice in the move? From perm to contract.

2) Should I just settle for this bank and work hard to try to transfer to their perm position? Or should I just continue to try JPMC? Honestly, I’m really disheartened with JPMC even though I’ve put in so much effort to prepare for the interview and make use of all my connections to get the interview opportunity.

Originally Posted by Unregistered (Post 168316)

Depends on what you are looking for in a role. Contracts are paid higher in general to compensate for the poor intangible benefits/bonus.

Not sure why like JPMC so much. KYC in banking has high volume and manual in general.

Have an open mind to explore your options. There is only so much a KYC analyst can earn.

With your years of experience, you should be looking at a more senior or managerial role.

Originally Posted by Unregistered (Post 168990)

To AML/FCC/KYC professionals out there, what is an expected/market salary (base pay + bonus combined if any) for the following experience level? You could share your actual package as well if you have actually gone through these.

0 - 2 years experience?
2 - 4 years experience?
4 - 6 years experience?

Fully aware the salary varies based on a plethora of considerations/factors/qualifications so feel free to include and list them down to support the salary figures!

Originally Posted by Unregistered (Post 169029)

local bank, local finance grad, 2 years experience in AML, drawing 4.1k before bonus which is ard ~2ish mths.

Originally Posted by Unregistered (Post 169029)

local bank, local finance grad, 2 years experience in AML, drawing 4.1k before bonus which is ard ~2ish mths.

Originally Posted by aneano (Post 169680)

kyc (know your customer) is an essential element in the fight against financial crime and money laundering today. Customer identification is the most important aspect, as it's the first step to improving efficiency at other stages of the process.
The global anti-money laundering and counter-terrorism financing landscape raise huge stakes for financial institutions.
International rules, which are influenced by standards such as the financial events working group (fatf), are now applied in national laws, covering strict guidelines such as 4 and 5, and preventive measures such as "kyc" for customer identification.
You can check out users on automated [url="s://covery.ai/products/kyc"]kyc aml software[/ now.

Originally Posted by Unregistered (Post 168990)

To AML/FCC/KYC professionals out there, what is an expected/market salary (base pay + bonus combined if any) for the following experience level? You could share your actual package as well if you have actually gone through these.

0 - 2 years experience?
2 - 4 years experience?
4 - 6 years experience?

Fully aware the salary varies based on a plethora of considerations/factors/qualifications so feel free to include and list them down to support the salary figures!

Originally Posted by Unregistered (Post 171047)

UK bank. 6 years experience. 80k base, ~1 month bonus