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AML/Compliance/KYC professionals come in!

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  #1671 (permalink)  
Old 24-09-2022, 10:34 PM
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Hi ,
Wanted to know if a Malaysian with good degree & working with SG bank's AML hub. (based in Malaysia)
2 year exp in L1 FCC TM (covering consumer and corporate banking)
Not bad performance (overall KPI>120% with minimal QA finding).
Current salary below RM 4K (~SGD 1.3k) ; performance bonus around 3 months

Should i consider move to SG next year ? What salary range should i expect ?
Should i continue working under TM team or moving to other AML ascpect (e.g. KYC, CDD, ECDD, Sanction and etc) to expand my profile?
yes you can definitely considering moving to SG if your situation allows. hard to say what pay you should be expecting since i'm not familiar with foreign hires, but i'd say they shouldn't be offering less than SGD 3k.

L1 TM is at risk of being offshored. If can, consider L2 (investigations) or advisory roles or more generalist role covering end-to-end like onboarding, PR, AML, etc.

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  #1672 (permalink)  
Old 24-09-2022, 10:43 PM
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well done for picking the right field! 100k (8+k) is quite the abnormally for 3 yrs of exp. banking should be around 5-6k
started off drawing 4.5 as a fresh grad. did extremely well on first year and got more than 20% bump to 5.5. promoted to associate thereafter, top performer, and bumped to 7.8 and recently just re-nego my compensation to 8.3.

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  #1673 (permalink)  
Old 24-09-2022, 10:46 PM
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started off drawing 4.5 as a fresh grad. did extremely well on first year and got more than 20% bump to 5.5. promoted to associate thereafter, top performer, and bumped to 7.8 and recently just re-nego my compensation to 8.3.
42% pay bump from 5.5 to 7.8?

you reached 7.8 just after 2 years?

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  #1674 (permalink)  
Old 24-09-2022, 11:09 PM
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42% pay bump from 5.5 to 7.8?

you reached 7.8 just after 2 years?
no, close to 3 years
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  #1675 (permalink)  
Old 24-09-2022, 11:12 PM
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yes you can definitely considering moving to SG if your situation allows. hard to say what pay you should be expecting since i'm not familiar with foreign hires, but i'd say they shouldn't be offering less than SGD 3k.

L1 TM is at risk of being offshored. If can, consider L2 (investigations) or advisory roles or more generalist role covering end-to-end like onboarding, PR, AML, etc.

Thanks for your suggestion !
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  #1676 (permalink)  
Old 25-09-2022, 09:34 AM
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no, close to 3 years
mind sharing more about how you land yourself in this AM compliance role to begin with? local u grad? did prior internship with the firm?
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  #1677 (permalink)  
Old 16-11-2022, 07:34 AM
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Any Compliance / Risk / AML / KYC professionals with 3-7 years of exp here? What salary are you drawing now and do you think it is reasonable compared to market? Any plans to move to other fields / industry (e.g. digital banking, crypto, etc)?
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  #1678 (permalink)  
Old 16-11-2022, 09:15 PM
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Any Compliance / Risk / AML / KYC professionals with 3-7 years of exp here? What salary are you drawing now and do you think it is reasonable compared to market? Any plans to move to other fields / industry (e.g. digital banking, crypto, etc)?
AML for 4 years in BB, drawing 6.2k/month. Looking to switch to Compliance role asap due to poor growth opportunity.
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  #1679 (permalink)  
Old 16-11-2022, 09:49 PM
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Any Compliance / Risk / AML / KYC professionals with 3-7 years of exp here? What salary are you drawing now and do you think it is reasonable compared to market? Any plans to move to other fields / industry (e.g. digital banking, crypto, etc)?
Not a good time to move out to other fields/industry, esp tech or fintechs. Increment may be good but whether sustainable is another issue. 7 years can get above 10k in most areas of work.
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  #1680 (permalink)  
Old 16-11-2022, 10:35 PM
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Not a good time to move out to other fields/industry, esp tech or fintechs. Increment may be good but whether sustainable is another issue. 7 years can get above 10k in most areas of work.
Absolutely disagree. DO NOT stay in AML for long. There is no prospect and your market value quickly diminishes the longer you stay in this industry. Jump out the moment an opportunity comes, be it fintech or not, your main priority should be to move out of AML roles.
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