| Unregistered |
21-04-2022 10:31 PM |
Quote:
Originally Posted by Unregistered
(Post 214964)
Risk management > Operations > Compliance > Legal
|
Any clown who puts Operations above Compliance and Legal probably never worked in Operations before.
The ranking should go like this.
Compliance = Legal > Risk Management > Operations
I would put Legal and Compliance together. In many large banks, both functions are in the same department and many of the top compliance officers are former lawyers themselves. The future of Legal/Compliance is bright as many fintech firms wishing to make their product offerings mainstream will find themselves coming under regulation. They will hire Compliance staff to meet regulatory demands or risk getting fined. The rise of crypto as an alternative asset class also means the space of Compliance will only grow over time.
Prospects are more limited for Risk Management as many things are filtered/flagged by pre-determined system rules.
The worst progression is in Operations. Not only is your job mind-numbingly mundane and very process-driven, your progression will be very slow compared to the front and middle office. To make things worse, your job is vulnerable to offshoring/outsourcing. Many banks and FIs are moving their Operations over to India. To add insult to injury you may even be asked to train your replacement overseas before being made redundant. |
