4 months is actually quite high for aml space. Did you get an outstanding performance for appraisal?

Just to add that the above reply is true. KYC/CDD roles which purely involve screening do have limitations in the pay package. At the end of the day, it goes back to the simple formula of the prerequisitive skills required for the role. Why would the company need to pay a candidate 4k for a screening role which does not even require a degree qualification?

Hi guys,

Just wondering, do high base pay of a 6 months contract job be useful in landing an even higher salary when looking for the next job?(Or will recruiter take into account the lack of bonus and cut your base salary in the next job?)

Asking because I am offered 30% increase from my current perm job to a 6 months contract role with slim chance of converting.I have slightly more than 1 year of experience and the salary increase will make my pay more than >4k monthly.

Hi, anyone knows about scb current hiring practices? Seems a lot of ppl from big banks like JP, Deutsche (mostly big banks or US centric culture) are hired in scb based on Linkedin searches. Is there a slim chance for former scb staff to re-join the bank again? Please advice. Thanks to any kind soul out there.

Hi all, for those in transaction monitoring, would like to know why you chose TM and what is it that u like about TM. Thank you.

Can anyone advise if document collection role is useful? Want to aim for screening role but very hard to get :'(

yup, i did

Depends on what your aim is. Each role serves their own purpose and nothing wrong with being in such roles. But both are very ops like and may be automated in the future. If u r aiming for screening, not sure what type.. I can’t see the progression either.

Most choose it coz the entry requirements are lowest, u typically can learn on the job as Long as u have a healthy dose of common sense and can spot patterns, make An assessment of what seems plausible and what not

It can get very mudane and tiring after a while Poring through many txns and having to meet the quota of kpi ie closing alerts. Many compromise on quality to achieve that - which is quite unavoidable unfortunately

If u like investigation and seeing how the client really transact (since kyc is just a story) and applying money laundering typologies to your work. This may be for u

Hi anyone taken acams certificate courses b4? Is it useful and recognized? Is it better than ICA certificates (not advanced cert or diploma but those short course). Hoping for some advice. Thanks

Anyone can advice?
I am diploma holder and have been doing credit admin for about a year now
Currently drawing $2250 and I want to do Compliance but most of these roles are for degree holders only.

I tried applying for KYC/CDD roles but most of these are just the outsourced name screening functions and only offer me 1.8k-2k citing that my experience is not relevant. Is it worth taking these roles if I want to go into compliance?
I am intending to quit my job too because I have to frequently OT and it's not suitable for me when I am studying part time.

Career switch to compliance. Please advise?
 

Hi,
I need some advice in venturing into a compliance career.

A little background:
6-7 years of experience in fund operations and accounting in am, never work in a bank before
Pursuing ICA advanced cert now
Salary is about 4k

Fund ops has already no or little progression so I'm hoping to see if I could maybe do a switch into AML compliance. Any advice on:
What kind of roles should I focus on as a start (AML TM, KYC/CDD and etc)?
Based on my ops experience, what are my chances to get an AML compliance job in am/bank and the pay that I can expect?
Any particular difference in the compliance role in am and bank?

Many thanks in advance!

Fresh grad from a local uni looking for job here. If there are any recruiters with lobang out there, please take PM me! I've done 3 months of AML screening before.

I am planning to take Skillsfuture course to study Banking like AML/compliance. Some of the courses I pull out are taught in SIM. I have a private degree in biomedical science but interested in banking. Do you guys think it is worth it take up on this course? I have contacted the lecturer who is teaching the courses and they were very vague and I feel that it might not be useful. I just want to boost my resume.

just wondering for those switching to compliance without relevant exp, how much should I expect if I am taking a contract role? Will they take into account for my 2 years work exp or just treat me the same as a fresh grad?

well, im well over 40 actually. but then again, some of those from my batch are still officers, while some others like myself, made it to regional heads.

Take ACAMS or ICA courses, those teaching the courses in SIM might not even have any actual experience as Compliance officers themselves. Theory aint going to help when you go for interviews.

I feel that name screening will soon be outsourced to countries such as India where the cost would be lower and not much learning potential I feel. But if you're determined to do KYC in the future, just keep applying and be open to contract jobs!

If your 2 years work exp is relevant, I feel that it will make you an attractive candidate to hire. If it is not, the learning curve is gonna be steep and you might as well be a fresh grad

I would like to do compliance eventually but I am still a diploma holder and most positions I see that are not name screening or alerts disposition are only available to degree holders.

hey guys! for the ACAM cert, anyone know how much will it cost ?? can't seem to find the price list and etc in their website.

thanks

Which role in the Compliance do you wish to enter? Regulatory/Financial crime? If you wish to enter financial crime compliance("FCC"), you could learn some basic in KYC/CDD since this role has interaction with FCC. Go for the role which do the full process(client outreach to operations). After a few years and with some luck(in your networking), you may enter the FCC. Do note you will need a degree i believe.

how to become a compliance officer? AML/KYC?
i have a degree but not relevant. advice?

an honest response to your question: firstly, you need to go through the interview process and get hired. thank you

About 3k SGD (converted via USD) all in for 1 year CAMS membership (compulsory), SG AML Regime Exam & Certification Course itself.

If you are a Singaporean below 40 or PR, you will be eligible for 70% IBF Funding provided that you pass both papers.

Singaporean above 40, it will be 90%.

Start off with contract roles that are more lenient in the requirements and learn the foundation work of compliance function - name screening, transaction alerts clearance, KYC documentations & operations related work.

From there, ask for internal transfer or look for other opportunities elsewhere where you can both value-add the company and yourself.

To be honest, you are mostly constricted to those roles unless you finish a degree course. No two way about it. However, do take in comfort that there are still companies out there which take in diploma holders that are hardworking and show commitment to pursue their interests in this area.

New to this field...What’s the difference between ICA and ACAMS?

Different professional bodies awarding their own certification in compliance function. ACAMS is pure learning via study guide and e-learning while ICA has classes and presentations.

"Many banks have sugar coated this cheap labour as "graduate program". Think of Credit Suisse, BNP Paribas etc. This type of contract job or compliance graduate program, is not even remotely close to the Management Associate Program or Graduate Program in various other banks (i.e. you will not be treated as a superstar with star rotations and star promotion paths)"

Quoted the above portion from a reply way back.

Should one then have chosen the Credit Suisse/BNP programme or a local bank graduate programme with a compliance rotation amongst others?

Thank you!

I have a degree in comms. Not related to biz/bank. Can I get into compliance role? And if not, is there an alternative route?

Hi, can anybody advice if "ICA Cert of professional in governance,risk & compliance" is better or "ACAMS" ? currently i'm a deg holder & have 1 year experience as a "maker". Thinking of getting one of the cert as i'm hoping for better chance to get into other banks as 'checker'.

Hi! I'm a foreigner looking for a job in SG. I have total of 5 yrs experience in KYC, transaction monitoring and fraud management from various banks and fintech companies. With this experience, how much is minimum salary I can ask at par with industry standard? I only earn around SGD1200 with these jobs in my country so I have no idea how much to ask. Thank you!

Hi, just want to ask for advice from seniors here.

Is it wise to take up a role thats covers many parts of compliance(Aml,kyc,regulatory,risk etc)in a very small bank (To learn more stuff)or should I take up an offer doing just one part of compliance in another huge bank(Specialised role)

Fyi, I am only 1.5 years old in the industry.

Will the brand name of the small bank(less than 50 headcount) be bad for the resume?
Is having a specialised role better instead of being a jack of all trades?

You need to ask yourself what are your career goals and aspirations first.

kyc/cdd/aml everyday just clear alerts not boring meh?

So what is considered not boring for you then?

Indian Overseas Bank
 

Do I need to know Tamil in order to work in Indian Overseas Bank?
They have published some roles.

https://www.mycareersfuture.sg/job/b...a646bf2c2fb075

I went to their branch to see more of this company. Most persons were speaking Tamil but they spoke to me in English.

Anyone who knows more about this company?

Thanks

Indian overseas bank
 

Knowledge of tamil is a must as most of our customers do not speak Chinese. Some speak English.

Bank jobs
 

Most banking in Singapore is conducted in English. Chinese and Tamil are used only outside banks.