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AML/Compliance/KYC professionals come in!

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  #1751 (permalink)  
Old 20-02-2023, 12:22 AM
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compliance role easy to join too... pretty much useless and brain dead job.. don't go into support non rev generating roles
Categorically false and clearly coming from an ignoramus. The fact that the role is not directly revenue generating does not render it a dead-end role. Compliance professionals have better career prospects than ARMs in PBs. Compliance VPs and directors, MLROs in bulge brackets make upwards of 15-20k+. These are ranks that most FO staff won't be able to attain.

Compliance teams are super lean and tough to get in. You should know this since you're clearly not in one.

By definition, compliance deals with complex, high risk cases, in other words, non braindead cases which would be handled by first line ops.

The importance of compliance should be self-evident. Given the increasingly complex regulatory landscape and greater fines for non-compliance, compliance professionals are integral in managing risks that could otherwise cost a bank millions in punitive fines, remediation exercises and reputational damages.

Its clear you know nothing about the industry, but as usual, empty vessels make the most noise.

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  #1752 (permalink)  
Old 20-02-2023, 09:36 PM
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Categorically false and clearly coming from an ignoramus. The fact that the role is not directly revenue generating does not render it a dead-end role. Compliance professionals have better career prospects than ARMs in PBs. Compliance VPs and directors, MLROs in bulge brackets make upwards of 15-20k+. These are ranks that most FO staff won't be able to attain.

Compliance teams are super lean and tough to get in. You should know this since you're clearly not in one.

By definition, compliance deals with complex, high risk cases, in other words, non braindead cases which would be handled by first line ops.

The importance of compliance should be self-evident. Given the increasingly complex regulatory landscape and greater fines for non-compliance, compliance professionals are integral in managing risks that could otherwise cost a bank millions in punitive fines, remediation exercises and reputational damages.

Its clear you know nothing about the industry, but as usual, empty vessels make the most noise.
man getting so butthurt that u have u try to justify compliance earn more than FO? lololol try harder

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  #1753 (permalink)  
Old 22-02-2023, 01:20 AM
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man getting so butthurt that u have u try to justify compliance earn more than FO? lololol try harder
Justification is a valued competency in regulator liaison. Please go get your next order in Grabfood and stop bothering us thanks.

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  #1754 (permalink)  
Old 22-02-2023, 01:25 AM
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Salary is higher as I progress along.
Average HR manager salary range is 5 to 6k in Singapore.
For compliance 5 to 6k is mid-senior level, which means the salary range is wider than HR.
Of course, all these i based it from job portals, might not be accurate, so came here to get advise.
Sorry, 5 to 6k is a junior Compliance role. Senior Compliance roles earn much more than that.

If you claim to work in HR for 10 years but still don't know what mid-senior compliance folks are getting I don't know wtf you have been doing all this time.

Maybe you can start by learning the difference between advise vs advice
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  #1755 (permalink)  
Old 22-02-2023, 11:19 AM
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man getting so butthurt that u have u try to justify compliance earn more than FO? lololol try harder
I didn't generalize that compliance professionals outearn FO professionals, work on your comprehension skills instead of embarrassing yourself.

Two things - there are various roles in the front office, not all FO roles are high paid with stellar progression. People who generalize about FOs typically have no idea what they're referring to, they're just operating under some vague assumption that client facing = good. ARMs for instance, are part of FO but their pay and progression is not great.

The fact that you think FO is by default superior to other roles within a bank is a sign that you don't have much work experience. I myself know several seasoned compliance professionals who outearn FO staff with similar experience. FO staff is viewed as highly expendable and don't command the sort of salary that you think they do.
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  #1756 (permalink)  
Old 22-02-2023, 11:31 PM
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I didn't generalize that compliance professionals outearn FO professionals, work on your comprehension skills instead of embarrassing yourself.

Two things - there are various roles in the front office, not all FO roles are high paid with stellar progression. People who generalize about FOs typically have no idea what they're referring to, they're just operating under some vague assumption that client facing = good. ARMs for instance, are part of FO but their pay and progression is not great.

The fact that you think FO is by default superior to other roles within a bank is a sign that you don't have much work experience. I myself know several seasoned compliance professionals who outearn FO staff with similar experience. FO staff is viewed as highly expendable and don't command the sort of salary that you think they do.
That's 100% accurate. I'm in a local bank with 3 years of compliance experience and drawing 120k annual base salary. My VP base for last year was more than 250k. Compliance is the best department, screw FO.
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  #1757 (permalink)  
Old 23-02-2023, 10:07 PM
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That's 100% accurate. I'm in a local bank with 3 years of compliance experience and drawing 120k annual base salary. My VP base for last year was more than 250k. Compliance is the best department, screw FO.
3 years at local bank earning 120k? continue your bs dude... this is why compliance or any back office is useless... all u do is to come here and troll with inflated numbers...
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  #1758 (permalink)  
Old 23-02-2023, 11:04 PM
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3 years at local bank earning 120k? continue your bs dude... this is why compliance or any back office is useless... all u do is to come here and troll with inflated numbers...
It's the truth. I'm an associate at a US bank doing purely compliance, no operations, and taking home close to 15k per month. This is the hard truth.
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  #1759 (permalink)  
Old 25-02-2023, 03:23 PM
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It's the truth. I'm an associate at a US bank doing purely compliance, no operations, and taking home close to 15k per month. This is the hard truth.
Obviously you won't make 15k pm doing compliance with 3YOE. That sort of salary is reserved for VPs with well over 8 YOE.
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  #1760 (permalink)  
Old 25-02-2023, 04:21 PM
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It's the truth. I'm an associate at a US bank doing purely compliance, no operations, and taking home close to 15k per month. This is the hard truth.
Do you think that everyone else on the forum is stupid? It takes just 10 seconds to go to MyCareersFuture and see the real salary range
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