Role of compliance officer
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Analyst = Senior analyst = Associate / asst mgr = Senior associate / mgr / jr AVP = AVP / jr VP = VP = |
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Now SG is their hub for aml |
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fresher trying to get into compliance, AML
hi, im a recent banking and finance graduate with no prior experience in banks. Can anyone advice me on how and where to apply for jobs in compliance, AML sector? as of of the job requirement stated all require some sorts of experience in compliance, AML, banks..
Thanks in advance. |
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But i guess they are okay with the current status quo (only 2 of them in total) , the managers really give them a lot of freedom. Our work hours r really flexible plus all the perks they get, i doubt they'll be moving any time soon |
How is the day - to - day life of a kyc due diligence ops analyst like?
And how do people get into the job in the first place? |
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people get in via different routes. Some join straight after graduating in perm roles (previously had intership done with compliance dept). Others join as contract staff assisting in kyc/aml procedures (eg. background checks) before getting converted. The rest join from different functions like ops, risk mgmt, IA or even external audit. hope it helps |
and prospects wise - is it good? sounds like a very dead-end job to me
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Day to day involves collecting names and screening names of clients.
This could be on an annual or bi annual basis This job tasks are pretty straightforward. |
Hi all, I'm going to graduate soon and am quite interested in compliance. Can I ask if I need to have a strong background in maths to be able to excel in this field? And also, what other skills would be useful? Thanks for the help! :)
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No you cannot ask
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How different is the career prospects of compliance officers between banks/ oil&gas/ FMCG?
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Bank vs MAS
Currently i am working in a bank, dealing directly with MAS regulators.
Is it worth it to apply and attempt to jump into MAS, ie be a regulator. OR to stay long term in banks? Considerations mainly in term of working hours, stability, career progression and remuneration package. Local uni business bachelors grad here. |
Contract roles
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anyone move from front office (sales etc) to compliance before?
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Where gt so easy? I would say for compliance, most impt thing is analytical skills. Must have brains. |
Does working in Mas n building experience help in crossing over to bank compliance?
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Yep. Worked in MAS for 4 years. Easily crossed over to compliance 2 years back for a 30% pay jump.
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can i ask wats the title u get in bank when u crossed over? |
my gf crossed over from sales (corporate) to compliance.
she shared with me her sales exp helped cos when onboarding companies, she has to do alot of KYC of all areas and sometimes when the internal bank system fail the first level of check, the sales folks/RMs have to write detailed supporting reports with alot of background work to seek clearance. |
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Is she doing the real compliance or merely kyc screening |
need help
guys need your advice.
i'm doing regulatory work at a law firm now. around 5months. i heard this is a sure way to compliance in a bank but im not really keen in joining compliance. would my skills be relevant in some other department? i wanna break into finance if possible. thanks! |
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Hey guys,
I understood that most of the AML/KYC/Compliance related positions are filled by fresh degree holders, be it local or private. May I ask if there are lower level positions for diploma business graduates? I intend to find positions for entry-level diploma positions in these field, while pursuing part time degree at SIM (UOL B&F). So, may I understand if there are any positions for diploma at all? Or is it strictly degree level only? |
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As a diploma holder, be prepared to accept a contractual role in this field until you get your degree. |
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On a side note, regarding the questions about when to jump etc. From my personal experience, fresh out of university I got a permanent role at a investment research firm which was a glorified date entry role at a salary of 2.9k. Left after 6 months and joined an American bank's KYC team as a contractor at 3k. Left after 7 months and joined a offshore bank at 3.75k. Jumped to my current bank when my ex manager at the American Bank called me up. 10% base increment and also AWS. Hence, effectively 19.2% increment. Dont be afraid to jump, do it early on in your career when you're young and relatively junior. Staying stagnant and comfortable will not get you far in terms of salary. |
I'm an undergrad due for completion of studies in March, and im interested in entering compliance. What would be the best method or channels to get into this industry (apart from knowing someone of course)?
I have tried looking at some of the job portals (jobstreet, jobsDB) but its kind of frustrating when you're searching for an entry level job and these jobs appear as your search results but requires 2-3 years experience :( |
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I am thinking of entering into compliance as well, but having an engrg degree just like u. I plan to sign up for the ICA dip in AML to increase my chances. But not sure whether it will help...Any advice are appreciated. |
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And yes, the ICA dip did help as according to my boss, they hoping to equip employees with at least an aml dip. Coincidentally, I manage to arm myself with that. There's also project management experience that I did previously that sort of help. |
got an offer from a jap bank at 2.9k perm role... i have 7 months of working experience in kyc role at a european bank contract role.. wonder if 2.9k is too low?
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currently work as KYC/Client onboarding in a local FI, 2 years exp.
Plan to shift to compliance, can anyone advice will it be difficult for the switch ? |
Running the Compliance function at a small foreign bank here, so perhaps I get give a little inside track here.
Compliance is one of the few sub-sectors in banking that has been doing exceptionally well these past few years. This is probably down to global clampdown by regulators post-crisis, amplified by the fact that most banks (especially foreign ones) would prefer to hire people with relevant experience who can hit the ground running. You don't need a law degree to enter Compliance, although it does come in handy. Many of my fellow practitioners are in fact accounting trained. It would certainly help if you have an ICA diploma or ACAMS though. Every bit of advantage helps. I would say generally speaking this is how it works: Background - MAS/Industry > CAD/CPIB > ICA/ACAMS Prospects - Compliance > AML/KYC While a career in Compliance offers decent pay and relative job stability, fresh entrants should ponder if this is really where their passion lies. For most part, Compliance is not a very sexy or glam job, and chances are you won't be the most popular guy in office. Money can only motivate a person so much. Some food for thought. Happy to offer my 2 cents if there are any questions. :) |
better to quick, window of opportunity is closing soon as many banks have beefed up their compliance function and is currently reaching steady state, not expansionist state
for those who enter compliance, used to the least glamorous function, 10yrs ago, many of them are already at MD level now getting base 600k upwards. Some did better than the FO traders who are joblesss due to implications from libor/fx fixing scandals Quote:
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