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AML/Compliance/KYC professionals come in!

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  #1791 (permalink)  
Old 02-06-2023, 08:09 PM
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How is IT audit like nowadays? Heard it's not a very popular role despite the decent pay as it's deadend and boring.
Canít expect much from an audit role, naturally theyíd be boring. But should pay pretty well especially when it concerns IT.

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  #1792 (permalink)  
Old 04-06-2023, 10:17 AM
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Hello dear compliance folks and peers, I graduated in 2017 and have close to 6 years of working experience in the compliance space till date in 2 large banks.

Currently drawing ~ $7.5k p.m. Is this reasonable for my years of experience? If not, what is a good ballpark figure that I should be expecting?

Thank you

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  #1793 (permalink)  
Old 06-06-2023, 08:19 AM
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Hello dear compliance folks and peers, I graduated in 2017 and have close to 6 years of working experience in the compliance space till date in 2 large banks.

Currently drawing ~ $7.5k p.m. Is this reasonable for my years of experience? If not, what is a good ballpark figure that I should be expecting?

Thank you
Came here for a similar query. I graduated in 2017 too and currently drawing 7.8k. Been looking around these few months and was recently offered a role at 9.3k. Was wondering if this offer was in line with current compliance market averages.

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  #1794 (permalink)  
Old 06-06-2023, 10:31 AM
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Came here for a similar query. I graduated in 2017 too and currently drawing 7.8k. Been looking around these few months and was recently offered a role at 9.3k. Was wondering if this offer was in line with current compliance market averages.
Although there are many variables such as the type of compliance department you are in (compliance advisory or compliance operations), local or int bank etc., 8-10k seems about right. Bonus should be 20-25% on avg.
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  #1795 (permalink)  
Old 06-06-2023, 10:33 AM
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hello folks. hope to seek some advice on how to kickstart my compliance journey, current doing audit and graduated from a local university 1 year back ó with pretty not so fantastic grades :/.

salary is one of my priority but Iíve heard itís difficult to get into foreign banks.

I aim to leave by EOY and would be drawing abt 4k/mnth.

Also, is compliance a fulfilling career to pursue? What sort of roles should I go for (KYC/AML.. etc)

thanks a lot! ☺️
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  #1796 (permalink)  
Old 06-06-2023, 01:01 PM
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Although there are many variables such as the type of compliance department you are in (compliance advisory or compliance operations), local or int bank etc., 8-10k seems about right. Bonus should be 20-25% on avg.
Thanks for the insight! Do you think there is a distinct difference in pay for different teams / LoD, for e.g. a KYC/onboarding/1.5 role vs a FCC/Reg Com/2.0 role?
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  #1797 (permalink)  
Old 06-06-2023, 01:07 PM
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hello folks. hope to seek some advice on how to kickstart my compliance journey, current doing audit and graduated from a local university 1 year back ó with pretty not so fantastic grades :/.

salary is one of my priority but Iíve heard itís difficult to get into foreign banks.

I aim to leave by EOY and would be drawing abt 4k/mnth.

Also, is compliance a fulfilling career to pursue? What sort of roles should I go for (KYC/AML.. etc)

thanks a lot! ☺️
By compliance, presuming you mean 2nd LoD roles such as compliance testing / assurance; reg compliance; aml reviews of high risk clients, etc? Such roles are very competitve and hard to come by. You could increase your chances by exploring relevant 1.5 roles such as KYC ops and hopefully do well enough to find a compliance placement internally. Audit background is highly sought after for testing / assurance roles though, you may consider!
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  #1798 (permalink)  
Old 07-06-2023, 08:45 AM
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Hi guys, I would like to move to an AML position, unfortunately my current work experience (public sector) is not relevant. Would like to ask if no experience + ICA Cert in AML + CAMS is good enough to get associate level. Thanks!
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  #1799 (permalink)  
Old 07-06-2023, 10:54 AM
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Hi guys, I would like to move to an AML position, unfortunately my current work experience (public sector) is not relevant. Would like to ask if no experience + ICA Cert in AML + CAMS is good enough to get associate level. Thanks!
Frankly speaking, certificates may help in showing your interest in the field. However, it largely depends on the role youíre applying for, how the managers/interviewers feel about you, your transferrable skillset and attitude etc. Unless you have technical AML knowledge and actual working contributions in that field, do be prepared to settle for even a junior role.

Why have you decided to move to AML? Why specifically AML?
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  #1800 (permalink)  
Old 07-06-2023, 12:30 PM
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Frankly speaking, certificates may help in showing your interest in the field. However, it largely depends on the role youíre applying for, how the managers/interviewers feel about you, your transferrable skillset and attitude etc. Unless you have technical AML knowledge and actual working contributions in that field, do be prepared to settle for even a junior role.

Why have you decided to move to AML? Why specifically AML?
Felt that the public sector just wasnt a right fit. Would like to try the finance industry and thought that other roles such as banking ops would be difficult to get a foot in as there are not really much certs that can help jump start, unlike AML.

Would eventually want to get into FCC though.
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