There's a difference... but usually companies call onboarding roles as AML/KYC in general because it's part of the AML process when u onboard a new client.

AML analysts are usually your transaction monitoring/reviews guys, AML officers are usually those who provide advisory or file suspicious reports.

KYC remediation, as the name suggests, refers to redoing/refreshing KYCs... Usually there are contract roles and u will be kick out after the project ends.

KYC for corporate and private banking is very different. They types of documents required and the level of depth differs greatly. Corporates you need to identify the directors who are empowered to operate the accounts, while private banking u need to dig deeper (i.e. trust structures)... identify their source of wealth etc etc.

sorry bro... it has gotta be connections or internal transfers who will most likely give you a shot at an interview

no, i just banking straight after grad

not really sure on this... but hould be KYC analyst -> team leader -> team manager :o

Just wondering, what is the average pay for a team lead with the responsibility of leading and expanding the team including interviewing/hiring new members? (leading around 5-8 member of staff)

I was offered at 4.5k sgd a couple of weeks ago from a very large MNC and I felt that the pay was way too low for the industry average.

What's your thought about this?

I heard one of my friend got 5k and above for experienced kyc analyst position.

For an average performer, how many years to move on the ranks?
Maybe how much to expect at 5 year mark? 10 year mark?

Bonus included?

Up for replies

Wanna know if a job in KYC ( e.g. kyc analyst ) or Compliance (e.g. Compliance AM ), which has better prospect?

Seems that KYC is also in compliance, just that it is more specialized.

guys, anyone here has contact to a headhunter who provides candidates to uob private bank? can please email me the contact of the headhunter? thank you... [email protected]

headhunt for uob pb aml/kyc?

well. not just aml/kyc role, could be other roles as well... if you do, kindly email me the contact. tia.

In compliance department, what direction will be more sought after by companies with better salary package?

Sorry to butt in this thread. I'm a fresh grad just gotten a financial crime compliance role with a foreign bank drawing very near to 4s. (in my 6th month now)

Just wondering where and when should i make the move? I've talked to some recruiters and the roles that they have on hand doesnt give me a very big pay jump ( looking at 15 - 20%) and still doing the same thing...

So i'm pretty much stuck here, not able to move for a higher pay or a supervisory position cos of the lack in exp. I'm taking my professional certs next yr but i'm just wondering when can I make the move, and how much / how big of a jump am i looking at?

My goal is to move out of financial crime eventually, which part of compliance is feasible for me to go, lets say in 5 years time.

just started 6 month and fresh grad, already think of moving? stay on for 2 full years first, then jump to KYC.

Nearly 4k for fresh grad already good

Yes i know.. I guess I'm too anxious bout it. Reason being - my chances of getting promoted in the near future ( say 2 to 3 yrs) seems very low because there r already few "old birds" in the dept waiting in the queue plus they are the "pak si beh zao" kind (= won't leave no matter what)... And the bank.. well.. probably wouldn't give any yearly increments or at most 1-2%...

I'm exposed to many areas from reviewing transactions, investigation and advisory for sanction related matters, bits of here and there for KYC. Haven't got the chance to be exposed to onboarding work at all. Say, armed with CAMS and maybe a compliance diploma from ICTA with 2 years of relevant investigation / advisory work in AML/CFT, what is the range of pay should I be looking at?

Why to KYC? Doesn't staying in compliance provide a better career path for him?

Or is onboarding KYC a better deal nowadays?

Kyc is under FCC technically. Some banks separate them / some banks lump all togt n calls them aml compliance. Regardless, the work mostly r quite similar.

Unless he is referring to those kyc ops guys i.e scanning docs and updating the database n such.

I don't think he is referring to those KYC Ops guys though, as its just updating and scanning of docs, which does not seem to have a bright future.

Like to know your view on why will it be better to jump to KYC when he is in compliance.

All along I feel that compliance provides a better exposure platform and progression chance.

sounds like you are based in changi... only that particular place is paying that high for fresh grad i suppose?

Nope. Im not in jpm sadly. I've been approached by them previously but i turned them down. My office is situated in raffles place.. sucky place in terms of commuting in public transport.

How much can 5 years exp in
1. AML
2. Advisory
Be expecting?

who is hiring compliance trainers in Singapore?
 

Hi,
There appears to be demand for compliance trainers in Singapore. Look at this ad.

-------------
VP –compliance Trainer Jobs In Singapore

A strong European Bank who has been known for their financial stability, diversity, sustainability and internal mobility is seeking a Compliance Trainer.

Reporting directly to the Head of Learning & Development, the key responsibilities for this role includes:

• Working closely with business unit management and the respective compliance policy owners, to provide training, advice and support to the business on compliance related topics
• Conduct stand up training and education on compliance awareness in terms of a) all regulatory compliance requirements; and b) all Bank’s Group Policies & Procedures

Requirements:
• Minimum of 10 years relevant experience with well-rounded compliance experience (KYC, AML, Regulatory ) are preferred
• Candidates with strong regulatory compliance with CIB are welcome
• Strong communication, presentation and interpersonal skills
• Willingness to work in the East
------------------

Looks like many banks are looking big way for compliance professionals.

Does anyone know how to bag this job? Which bank is this - UBS, SCB, BJB, BNP, HSBC, Barclays ,...

Thsi mustbe UBS. They just establishied a Uni in Singapore.

Ups for replies

Starting 2.5k -3k

Analyst 3.8k to 4.5k

Senior Analyst 7.5k to 8.5k

Manager Above 12k

Starting not at analyst rank?

different bank, different hierarchy. Could also be in this manner :

Analyst = 2.5 to 3.2K++
Senior analyst = 3.4 to 3.7++
Associate / asst mgr = 4.5 to 5.2++
Senior associate / AVP = 5.8 to 6.8++
AVP / jr VPs = 6.5 to 8++
VP = at the bare minimum the basic would touch 9s range. Normally, a seasoned VP (i.e with around 10years of exp) would take 5 digits monthly.

The figures are based on what i know from headhunters / ex colleagues in similar capacity. There's a blurred line drawn between assoc / snr assoc and AVPs. As far as i know, some banks used them interchangeably, meaning they inflate job titles to boost the "feel-good" factor but pay wise it is not even on the correct scale yet.

VP gets 12,500 pm
 

Look at this job posting. VP Compliance in Singapore gets 12,500 pm.

VP –Compliance Trainer
Salary: up to $150K
Location: Singapore
Job Type: Permanent, Full time
Company: Kerry Consulting Pte Ltd , EA Licence No: 03C4828
Updated on: 13 Aug 14

(taken from efinancialcareers.sg)

i used to work in bank HR. the salary for lower rank is accurate. However, the salary for higher rank.. you just add 1k more from senior associate onwards. By right VP shd reach 12k and AVP reach 10k.

No. of years exp
 

Hi all,

Just wanted to ask about the no. of years experience needed to "climb the ladder". Any input will be much appreciated. Below is my rough guess (not in banks currently)

Analyst = 0-1 years exp
Senior analyst = 2-3 years exp
Associate / asst mgr = 4-5 years exp
Senior associate / mgr / jr AVP = 6-7 years exp
AVP / jr VP = 8-9 years exp
VP = 10+ years exp

Also, does one usually go up the next grade by jumping banks or staying put?

All depends . But can be sure, different bank has different corporate ladder. Depending on which department. For my case, I am an asst mger after 1 yr of exp.

ANYONE knows much abt the role of customer due diligence analyst in jp morgan?

how is the working hours, intensity of work, prospects like?

Roughly but different banks different route meaning different timeline needed for progression. But one thing is for sure is that 4-5 yrs of exp would start opening doors to many opportunities. Recruiters /hr / hiring mgrs r mostly "blind". With so many cv to screen, naturally they will look at years of relevant exp instead altho exceptions do hpn sometimes.

This pay scale is the same for all back end jobs? If I'm not wrong compliance is kinda back end too? It's only due to recent regulations change then they started to demand more ppl in it. Can anyone shed some light for operations too?

JPM working conditions
 

JPM recently hired more than 300 persons for there Changi Office. Working conditions are going to be gruelling with all these FT working overtime and weekends and everyone else expected to compete on similar lines.

Is the aml/kyc compliance line that many FTs?

At lower levels b4 VP, yes. Plenty of them

Depends on what kind of ops, duh.

why is this so? and how's the salary like?

and prospects?