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-   -   AML/Compliance/KYC professionals come in! (https://forums.salary.sg/income-jobs/3243-aml-compliance-kyc-professionals-come.html)

Unregistered 19-05-2018 07:23 PM

Quote:

Originally Posted by Unregistered (Post 107342)
thanks for answering. yes iím in an international bank.

I feel that work culture, good bosses and colleagues are equally important as salary.

I wont want to have poor work balance with high pay.

Unregistered 20-05-2018 06:22 PM

Anyone knows or work in Sanctions Screening in Bank of Tokyo MUFG? May I know how is the work, culture and prospect in this role in MUFG?

midcareerchange 22-05-2018 02:49 PM

Mid career switch
 
Hi everyone,

it has been enlightening reading up on how the fresh grads can get into compliance/AML functions. However, I would like to go further and ask for some advice for myself.


I am going to be 40 come 2019 and I have spent the last 10 years (since 2008) in trading and other functions with brokerages. A couple of years ago, I started my own firm and was licensed with MAS as a broker(SFA). During that time, I focused on the compliance aspect of the company (regulators/licencing/KYC/AML) while the other partners did the front office work. However, it didn't work out and I am now looking to join the corporate world.

What I would like to know is if I could join a FI in compliance at a middle level rather than a fresh hire.

Hope to hear your inputs.

Thank you.

Unregistered 26-05-2018 08:40 PM

Quote:

Originally Posted by midcareerchange (Post 107415)
Hi everyone,

it has been enlightening reading up on how the fresh grads can get into compliance/AML functions. However, I would like to go further and ask for some advice for myself.


I am going to be 40 come 2019 and I have spent the last 10 years (since 2008) in trading and other functions with brokerages. A couple of years ago, I started my own firm and was licensed with MAS as a broker(SFA). During that time, I focused on the compliance aspect of the company (regulators/licencing/KYC/AML) while the other partners did the front office work. However, it didn't work out and I am now looking to join the corporate world.

What I would like to know is if I could join a FI in compliance at a middle level rather than a fresh hire.

Hope to hear your inputs.

Thank you.

your profile seems pretty fitting for typical market compliance role... Honestly, rather than asking on a internet forum, why don't speak to a recruiter and have them vet through your CV. There are so many other factors (of which, i don't think you want to share them in public) to consider - how wide was your scope back then / typical products and markets that you've covered / last drawn pay / your motivations to move and etc. And of course - Age.

The questions that you'd ask yourself is - for a mid level position, why would they choose you over somebody who spent the same amount of years across several big FIs with 100% focus in the regulatory / compliance space. That person would very likely have hands-on experience with numerous trading platforms - the same as you, and with one or more dedicated surveillance platforms. Nonetheless, these are just my views - it's best you get an professional advice instead.

Unregistered 27-05-2018 05:00 PM

Currently in a Big4 within the AML service line doing stuff such CDD,TM,SOW,Regulatory GAP Analysis etc. Drawing 4.8k.

Got offered a job at a Swiss Private Bank with a 100% increment for a TM specific role. Would you recommend the jump?

Unregistered 27-05-2018 05:54 PM

Quote:

Originally Posted by Unregistered (Post 107506)
Currently in a Big4 within the AML service line doing stuff such CDD,TM,SOW,Regulatory GAP Analysis etc. Drawing 4.8k.

Got offered a job at a Swiss Private Bank with a 100% increment for a TM specific role. Would you recommend the jump?


Means 9.6k?

Of course go.

Unregistered 27-05-2018 06:02 PM

Quote:

Originally Posted by Unregistered (Post 107506)
Currently in a Big4 within the AML service line doing stuff such CDD,TM,SOW,Regulatory GAP Analysis etc. Drawing 4.8k.

Got offered a job at a Swiss Private Bank with a 100% increment for a TM specific role. Would you recommend the jump?

which level are you at in big 4 and which level are u going ? wouldnt recommend a lower grade jump but for the money, just go haha

Unregistered 31-05-2018 09:30 PM

Salary Expectation : AML KYC Director
 
Hi All

Quick Question: What is considered a good salary for an Expat in Singapore to work in a British Bank as an AML KYC Director (Senior Manager)

My Background: 36 yrs old Male , Muslim, US Citizen, 4 Kids and currently living in NY. 10+ years of banking experience within AML KYC space, CAMS certified with Masters degree.

Thanks

Unregistered 02-06-2018 09:51 PM

Quote:

Originally Posted by Unregistered (Post 107569)
Hi All

Quick Question: What is considered a good salary for an Expat in Singapore to work in a British Bank as an AML KYC Director (Senior Manager)

My Background: 36 yrs old Male , Muslim, US Citizen, 4 Kids and currently living in NY. 10+ years of banking experience within AML KYC space, CAMS certified with Masters degree.

Thanks

First off - are you relocating through the internal mobility channel within the "british bank" ?
Or a new job?

In the first case, perhaps you may find out more information from the HR and/or colleagues who are already working in Singapore...

For the latter, and with 4 kids + your wife (assuming she will be homemaker), safe bet would be at least SGD$250,000 to not "struggle", but that also depends on your lifestyle.

Groceries and daily necessities are cheap in common supermarkets in Singapore as compared to NYC. Large chunk of your disposable income will be for your kids (schools, etc.) and accommodation (rental, furnishing, monthly upkeep,etc.). Maybe you could get a second-hand used car... but i would advise against doing that unless you have work out the math.

Unregistered 05-06-2018 12:36 AM

Quote:

Originally Posted by Unregistered (Post 107604)
First off - are you relocating through the internal mobility channel within the "british bank" ?
Or a new job?

In the first case, perhaps you may find out more information from the HR and/or colleagues who are already working in Singapore...

For the latter, and with 4 kids + your wife (assuming she will be homemaker), safe bet would be at least SGD$250,000 to not "struggle", but that also depends on your lifestyle.

Groceries and daily necessities are cheap in common supermarkets in Singapore as compared to NYC. Large chunk of your disposable income will be for your kids (schools, etc.) and accommodation (rental, furnishing, monthly upkeep,etc.). Maybe you could get a second-hand used car... but i would advise against doing that unless you have work out the math.

Thanks , it's not an internal move and i think SGD$225,000 - 250,000 will be a good base

Unregistered 15-06-2018 03:25 AM

Hi

Can I check if the CAMS6-SG (IBF Level 2) Program is suitable to be taken up, for someone who is a new to Compliance?

I am wondering if this program would help me kickstart a career in AML/Transaction Monitoring. Currently, I am 6 months into my role as a Transaction Filtering Operator, dealing with Sanctions.

Unregistered 15-06-2018 10:15 AM

Quote:

Originally Posted by Unregistered (Post 107995)
Hi

Can I check if the CAMS6-SG (IBF Level 2) Program is suitable to be taken up, for someone who is a new to Compliance?

I am wondering if this program would help me kickstart a career in AML/Transaction Monitoring. Currently, I am 6 months into my role as a Transaction Filtering Operator, dealing with Sanctions.

Take ibf lvl one first. Lvl two is for those with at least 3 yrs of exp, afraid u wont be able to catch up or will struggke. Most of the ppl who take lvl 2 are professionals with experience in the fields. Once u clear lvl one, u can proceed to lvl 2 which will be alot easier. Hope this helps

Unregistered 15-06-2018 04:02 PM

Mid-Career switch
 
Hi guys,
Iíve been hoping to do a mid career switch into compliance and was wondering if you guys have any tips or advice in the steps I can take to go about this. Iíve done some job search and there hardly seem to be any entry level jobs. I did apply to the credit suisse compliance academy but thereís been no news so far.

Currently Iím in the F&B sector for about 3 years. Prior to that I did 2 years of insurance sales and am holding a degree in IT. Do you guys think that Iíll have a chance at this?

Unregistered 17-06-2018 01:21 PM

Certification suggestions
 
Hello All,

I'm currently working for an e commerce site as a operations manager for the enterprise Risk team who deals with compliance / sanctions. i m currently looking to xplore more opportunities around this field. I have a total experience of 8 and 4 years of manager experience. Does doing certification in any of the compliance field fetch me a good pay and role in future? Also please advise the course name and institution where it will help me. I work and live in India.

Unregistered 17-06-2018 08:57 PM

any news from the credit suisse compliance program?

Unregistered 19-06-2018 04:02 AM

Quote:

Originally Posted by Unregistered (Post 107997)
Take ibf lvl one first. Lvl two is for those with at least 3 yrs of exp, afraid u wont be able to catch up or will struggke. Most of the ppl who take lvl 2 are professionals with experience in the fields. Once u clear lvl one, u can proceed to lvl 2 which will be alot easier. Hope this helps


Hi thanks for the reply.

Actually my intention is to find out whether the CAMS6-SG or intl CAMS is better.

Unregistered 26-06-2018 10:35 PM

exit opportunities at mas
 
hi all,

just wondering what kind of exit opportunities are available for a graduate officer at mas in one of the supervisory departments (banking, aml, capital markets and so on). is it possible for them to transit to a bank easily after 2~3 years? or would it be extremely difficult due to the specific skills gained at mas?

Unregistered 30-06-2018 05:13 PM

Job advice
 
Hi guys

Any advise?
I have around 2 years of Compliance experience in an international bank. I did the IBF level 1 Compliance cert already.

Now I have 2 offers
1 offer is from another international bank the role is a client regulatory advisory role.
1 offer is aml transanction screening/monitoring role in local bank.

If I take the first role, would it be considered a deviation from compliance? Would it be easy to go back to Compliance?

Might also be important to note that first offer got more than 20% increment. But second one only offering about 10% increment.

What is your advice?

Unregistered 05-07-2018 06:38 PM

Quote:

Originally Posted by Unregistered (Post 108435)
Hi guys

Any advise?
I have around 2 years of Compliance experience in an international bank. I did the IBF level 1 Compliance cert already.

Now I have 2 offers
1 offer is from another international bank the role is a client regulatory advisory role.
1 offer is aml transanction screening/monitoring role in local bank.

If I take the first role, would it be considered a deviation from compliance? Would it be easy to go back to Compliance?

Might also be important to note that first offer got more than 20% increment. But second one only offering about 10% increment.

What is your advice?


What are u exactly doing now (?compliance) aml?
If u want to focus on aml then obviously switching to another speciality I.e regulatory compliance wonít let u gain the kind of exposure and experience which looks good on your cv

For the tm / screening role this isnít fantastic either - most will likely plateau in learning by the 2nd year and it is very routine. Unless u like this kind of a role and want to Specialize

For 10% I would think Too Low to jump as u will likely Want to jump within next 1 -2 years. Think about whether this is what u want or should u hold for another opportunity

seojuns0310 17-07-2018 05:10 PM

Hi everyone, I need to gather some opinions here with you experienced professionals. I am a fresh grad and have been looking to land a role in compliance, preferably in banks as i feel there will be more exposure. Recently, i received this offer to work in the compliance team of an insurance company. I was hesitant to take up this offer, my first thoughts are to take up this job and gain some experiences but i am not sure if there is any transferrable skills when i want to move to the banking side in future. Can anyone share some insight on this? Thanks in advance :)

Unregistered 17-07-2018 05:33 PM

Quote:

Originally Posted by seojuns0310 (Post 108921)
Hi everyone, I need to gather some opinions here with you experienced professionals. I am a fresh grad and have been looking to land a role in compliance, preferably in banks as i feel there will be more exposure. Recently, i received this offer to work in the compliance team of an insurance company. I was hesitant to take up this offer, my first thoughts are to take up this job and gain some experiences but i am not sure if there is any transferrable skills when i want to move to the banking side in future. Can anyone share some insight on this? Thanks in advance :)

You can still explore your options. But as a fresh grad, you must bear in mind that no one job is perfect.

If you give up this offer, how long will it take to get another?

For transferrable skills, some areas of compliance are niche and it is very hard to enter without specific experience for banking.

I started in banking and switched to payments industry.

Banking is a good training ground but in terms of salary and work balance, some industries are better.

As I look back after 6 years of working experience, I will not want to return to banking.

Unregistered 20-07-2018 10:44 PM

Quote:

Originally Posted by Unregistered (Post 107995)
Hi

Can I check if the CAMS6-SG (IBF Level 2) Program is suitable to be taken up, for someone who is a new to Compliance?

I am wondering if this program would help me kickstart a career in AML/Transaction Monitoring. Currently, I am 6 months into my role as a Transaction Filtering Operator, dealing with Sanctions.

What exactly is sanctions screening? Is it a good area to work in? Got prospect?

Unregistered 23-07-2018 11:04 PM

Hello i would like to check which banksí aml function are at changi biz park and which ones are at cbd?

1.credit suisse
2. Jp morgan
3. Deutsche
4. Ubs
5. Citi
6. Scb
7. Dbs

For transaction monitoring, how is the workload and OT situation for these banks?

Thanks in advance!

Bbk 17-08-2018 02:10 PM

Aml analyst
 
Hi I currently got a job at a 3rd party vendor for banks. The job description for my role stated performing transaction analysis and the position is stated as aml analyst. When I went for orientation this week, they gave the run down of the position and essentially it is a name screening position which can easily be outsourced to India which is what other banks have done. This company overpromised the role. Should I be looking elsewhere for another compliance or aml role or stick with it for a while? I am also looking into getting into regulatory advisory, what is the career path and education or certs needed for this move. I am currently 24 degree holder. Would a diploma in accounting or scams help? Do you think the aml industry is being outsourced or should I move into other pockets of compliance or take on a more permanent kyc or Cdd role at a bank? Thanks!

Unregistered 17-08-2018 11:33 PM

Quote:

Originally Posted by Bbk (Post 109708)
Hi I currently got a job at a 3rd party vendor for banks. The job description for my role stated performing transaction analysis and the position is stated as aml analyst. When I went for orientation this week, they gave the run down of the position and essentially it is a name screening position which can easily be outsourced to India which is what other banks have done. This company overpromised the role. Should I be looking elsewhere for another compliance or aml role or stick with it for a while? I am also looking into getting into regulatory advisory, what is the career path and education or certs needed for this move. I am currently 24 degree holder. Would a diploma in accounting or scams help? Do you think the aml industry is being outsourced or should I move into other pockets of compliance or take on a more permanent kyc or Cdd role at a bank? Thanks!

FCC investigator here. A diploma in accounting will not help in any direct way. Acams might but there have been people who got into AML without any AML certs. Both tm & kyc operations are increasingly being located offshore but usually their last level stays in Singapore. If you want regulatory advisory and not aml advisory, you should just try to start from regulatory asap. About your current predicament, you just got to weigh the factors but overall if you can help it, get a tm role instead of a name screening one for a good beginning.

seojuns0310 20-08-2018 06:24 PM

Hi there, how should a fresh grad looking to go into AML/KYC roles go about looking for a position? I tried applying to such roles through job finding portals, mainly went for the interview and they hired experienced people instead(experienced this quite a number of times over past few months). Kinda disheartening. I have heard from recruiters that it is easier to enter this line through doing maybe a ops role and get some experiences before jumping into this line. Not sure if this is true. Anybody who can shed some insight regarding these issues? Or perhaps you know of any openings at your workplace that you can recommend to me? Thanks in advance!

Unregistered 04-09-2018 02:07 AM

Quote:

Originally Posted by Unregistered (Post 109063)
Hello i would like to check which banksí aml function are at changi biz park and which ones are at cbd?

1.credit suisse
2. Jp morgan (cbp)
3. Deutsche
4. Ubs
5. Citi (cbp)
6. Scb
7. Dbs (mbfc)

For transaction monitoring, how is the workload and OT situation for these banks?

Thanks in advance!


Here you go. Personal experience

Unregistered 07-09-2018 11:20 AM

Quote:

Originally Posted by seojuns0310 (Post 109760)
Hi there, how should a fresh grad looking to go into AML/KYC roles go about looking for a position? I tried applying to such roles through job finding portals, mainly went for the interview and they hired experienced people instead(experienced this quite a number of times over past few months). Kinda disheartening. I have heard from recruiters that it is easier to enter this line through doing maybe a ops role and get some experiences before jumping into this line. Not sure if this is true. Anybody who can shed some insight regarding these issues? Or perhaps you know of any openings at your workplace that you can recommend to me? Thanks in advance!

you can get thru this either as a RM (handling CDD/KYC) or Project Management / Business Analyst role. The former gets much higher chance as AML team normally work closely with RMs for RFI, etc so you can slowly transition in. PM/BA path takes a bit more time but you will get into much senior role.

what i can see right now is that low level AML resources (e.g. clearing screening alerts, etc) are too abundant and hard to compete.

Unregistered 07-09-2018 11:24 AM

Quote:

Originally Posted by Unregistered (Post 108435)
Hi guys

Any advise?
I have around 2 years of Compliance experience in an international bank. I did the IBF level 1 Compliance cert already.

Now I have 2 offers
1 offer is from another international bank the role is a client regulatory advisory role.
1 offer is aml transanction screening/monitoring role in local bank.

If I take the first role, would it be considered a deviation from compliance? Would it be easy to go back to Compliance?

Might also be important to note that first offer got more than 20% increment. But second one only offering about 10% increment.

What is your advice?

I'll take the first role anytime. Having advisory experience will triumph over any other roles in compliance. Remember, the end goal of compliance is too help bankers do the right thing. All other controls (e.g. montiroing, screening, etc.) are just side work. At the end of the day, the result of all CDD/KYC, alerts, etc. will be tabled in front of the compliance advisor to make final decision.

Jasmine 09-09-2018 06:22 PM

kyc job in BNPP
 
Hi,
I saw several roles in BNP for kyc/on boarding officer. I have applied as well.
How long does the selection procedure take? French banks are slow to act but with the quarter end approaching, can I epxept speedy action? I want to join BNP soon.
Mercy boocoup

Unregistered 17-09-2018 09:08 PM

Hi all,
I'm currently doing kyc with nearly one year experience, would like to know is it hard to get a kyc role or aml in Singapore? Because seems like most bank outsource their kyc department to low cost country.

Unregistered 28-09-2018 10:28 PM

Quote:

Originally Posted by Unregistered (Post 110029)
Here you go. Personal experience

Does Jp morgan provide shuttle buses to cbp and how is the TM team there? Do they work till cery late? What about the TM team at DBS?

Unregistered 10-10-2018 09:11 PM

Career Options
 
Hi folks, need your advice. Currently an internal auditor at a buy-side firm (cmsl holder) with abt 1y experience. Getting bored with work. What are the exit opportunities out there?

This might be a wayyy long shot, is it possible to get into Corporate Banking/Structured Finance?

Unregistered 10-10-2018 10:34 PM

Quote:

Originally Posted by Unregistered (Post 110792)
Hi folks, need your advice. Currently an internal auditor at a buy-side firm (cmsl holder) with abt 1y experience. Getting bored with work. What are the exit opportunities out there?

This might be a wayyy long shot, is it possible to get into Corporate Banking/Structured Finance?

Just 1 year and getting bored?

Unregistered 21-10-2018 04:30 PM

Hi! Would like some advice. I have slightly over 2 years external audit experience with a Big4 and am thinking of applying for a compliance role in UBS. The job description mentioned that it is mostly KYC, cross-border activities and conflict of interests etc.

Can anyone shed some light on what the job of KYC really entails? I only have audit experience so Iím not sure on this. Also, what kind of salary and progression could I expect? Currently drawing approx 4.2 per month. Thank you!

Unregistered 21-10-2018 05:21 PM

Quote:

Originally Posted by Unregistered (Post 111038)
Hi! Would like some advice. I have slightly over 2 years external audit experience with a Big4 and am thinking of applying for a compliance role in UBS. The job description mentioned that it is mostly KYC, cross-border activities and conflict of interests etc.

Can anyone shed some light on what the job of KYC really entails? I only have audit experience so Iím not sure on this. Also, what kind of salary and progression could I expect? Currently drawing approx 4.2 per month. Thank you!

Question is why do you want to change role with 2 years? Is it because of the hours?

You probably cant get 4.2k as you dont have the relevant experience.

KYC is a more operational role in banks.

ConflictedMike 03-11-2018 01:00 AM

Hi all, would like some advice! I am currently a Relationship Manager with local bank at priority segment. Have been in bank sales for 3.5yrs. Currently looking to switch to non-sales role and considering compliance. Because I donít have prior compliance experience, is it a must for me to take paycut? I am currently drawing basic 4.5k (excluding commissions).

Just got an offer for compliance role at insurance company, however they offered me 3.9k basic. Benefits like annual leave is much lesser than what I get in the bank.

Do you think it is worthwhile to make the switch?

I definitely donít want to continue doing sales however I have reservations because of the paycut.

Unregistered 03-11-2018 08:01 AM

Quote:

Originally Posted by ConflictedMike (Post 111359)
Hi all, would like some advice! I am currently a Relationship Manager with local bank at priority segment. Have been in bank sales for 3.5yrs. Currently looking to switch to non-sales role and considering compliance. Because I donít have prior compliance experience, is it a must for me to take paycut? I am currently drawing basic 4.5k (excluding commissions).

Just got an offer for compliance role at insurance company, however they offered me 3.9k basic. Benefits like annual leave is much lesser than what I get in the bank.

Do you think it is worthwhile to make the switch?

I definitely donít want to continue doing sales however I have reservations because of the paycut.

Seems like you are set on not continuing sales. If you are keen to go compliance, pay cut is necessary because you dont have direct experience if not little experience.

That said, there are many functions within compliance. You wont know if compliance is suitable for you. getting increment of 4.5k is rather tough given your RM experience is just 3.5 years with little compliance experience.

Unless you are a 8 years RM experience and 4 years compliance experience.

Unregistered 03-11-2018 09:12 AM

Quote:

Originally Posted by ConflictedMike (Post 111359)
Hi all, would like some advice! I am currently a Relationship Manager with local bank at priority segment. Have been in bank sales for 3.5yrs. Currently looking to switch to non-sales role and considering compliance. Because I donít have prior compliance experience, is it a must for me to take paycut? I am currently drawing basic 4.5k (excluding commissions).

Just got an offer for compliance role at insurance company, however they offered me 3.9k basic. Benefits like annual leave is much lesser than what I get in the bank.

Do you think it is worthwhile to make the switch?

I definitely donít want to continue doing sales however I have reservations because of the paycut.

How much is your commission? You can calculate your annual income for comparison. I think the pay cut is quite huge considering more than $600 per month considering commission.
Is there a specific reason why the switch? If the reason outweighs the monetary loss then you can consider.

ConflictedMike 03-11-2018 11:30 AM

Quote:

Originally Posted by Unregistered (Post 111361)
How much is your commission? You can calculate your annual income for comparison. I think the pay cut is quite huge considering more than $600 per month considering commission.
Is there a specific reason why the switch? If the reason outweighs the monetary loss then you can consider.

Reason for the switch is because I want to change to non-sales role. My rationale is I want to gain experience in compliance first and maybe after 2 years I can join bank compliance. The insurance company is the only one that shortlisted me for interview, got rejected by a lot of places as I donít have prior experience.


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