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Unregistered 09-08-2021 09:00 PM

Quote:

Originally Posted by Unregistered (Post 179731)
TM roles, you need data analytics to do well. It will be replaced by AI eventually.

Thanks for sharing, could you provide some real examples of the use of analytics in transaction monitoring? What tools may be used?

Unregistered 31-08-2021 06:26 PM

Quote:

Originally Posted by Unregistered (Post 179731)
TM roles, you need data analytics to do well. It will be replaced by AI eventually.

You clearly don't know what you're talking about. Analytics is used to enhance efficiency in TM/NS processes such as reducing false positives. How on earth will AI replace CDD / TM analysts? Imbeciles who don't know **** about the tech always coming up with cretinous vague projections like these without giving any specific details.

Unregistered 01-09-2021 11:13 AM

Hi, i am working in the logistic industrial for 8years.

just grad from my private degree in business management.

really interested to join this AML industrial, tried sending many resume to sgunited but no response them.

anyone have advise how do i get in or any cert that have funding to sign up?

Unregistered 01-09-2021 11:45 AM

Quote:

Originally Posted by Unregistered (Post 181784)
Hi, i am working in the logistic industrial for 8years.

just grad from my private degree in business management.

really interested to join this AML industrial, tried sending many resume to sgunited but no response them.

anyone have advise how do i get in or any cert that have funding to sign up?

Check out s://.acams.org/en/certifications/cams6-sg-ibf-level-2-program where you may get up to 70% funding

Unregistered 01-09-2021 02:48 PM

Quote:

Originally Posted by Unregistered (Post 181790)
Check out s://.acams.org/en/certifications/cams6-sg-ibf-level-2-program where you may get up to 70% funding

the link is broken, can i know which is the one?

Associate-Level Certification

Specialist-Level Certification

Advanced Specialist-Level Certification

Unregistered 01-09-2021 04:16 PM

Quote:

Originally Posted by Unregistered (Post 181790)
Check out s://.acams.org/en/certifications/cams6-sg-ibf-level-2-program where you may get up to 70% funding

hi, the course requires working experience or any related certification in order to sign up for the course.

even with my private degree, i still lacking of enough points to sign up.

Unregistered 01-09-2021 11:06 PM

Quote:

Originally Posted by Unregistered (Post 181809)
the link is broken, can i know which is the one?

Associate-Level Certification

Specialist-Level Certification

Advanced Specialist-Level Certification

Most ppl i see take the Specialist-Level Certification (CAMS)

Unregistered 02-09-2021 11:22 AM

Quote:

Originally Posted by Unregistered (Post 181710)
You clearly don't know what you're talking about. Analytics is used to enhance efficiency in TM/NS processes such as reducing false positives. How on earth will AI replace CDD / TM analysts? Imbeciles who don't know **** about the tech always coming up with cretinous vague projections like these without giving any specific details.

You have answered the question. AI will reduce false positives which will render headcount redundancies. Why would a business need to hire more when volume have dropped? If it can be automated without any human intervention, that would be even better.

Economics - supply and demand.

Unregistered 02-09-2021 09:23 PM

Quote:

Originally Posted by Unregistered (Post 181869)
You have answered the question. AI will reduce false positives which will render headcount redundancies. Why would a business need to hire more when volume have dropped? If it can be automated without any human intervention, that would be even better.

Economics - supply and demand.

Not the earlier poster but to your question - yes and no.

It is true that banks have mostly acknowledged the role AI plays in its business, especially within the compliance space. AML/KYC is one such example.
Conceptually, it looks very good and noble on paper. Realistically, many banks struggle to achieve it. The biggest hurdle? Cost. This may surprise many but it is generally cheaper to hire a warm body to deal with those problems than to integrate into its businesses - until such a point where its business size reaches a critical state in which they are able to justify these costs. And surprisingly, our dearest regulators, the likes of MAS, HKMA/SFC, FINMA and the likes are indifferent on this matter.
And having a big name parent company does not automatically mean the hurdles are all cleared. Because of issues like cross-border data sharing, banking secrecy and etc., you'll probably have problems relying on the existing infrastructure used by the rest of the Group entities.
So circling back to the earlier topic - having some knowledge of data analytics is alright but it wouldn't be something I would break my back over it. On the other end of the spectrum, being a TM analyst the prospects are very much limited these days - many things are and can be filtered/flagged by the pre-determined system rules.

Unregistered 04-09-2021 12:54 AM

Anybody can give me some advice?
Currently working in bank as TM, Binance SG offered me a role doing similar stuff and higher pay.
Is it worth the jump? Will it be hard if I would like to go back to bank say in a couple of years?

Unregistered 04-09-2021 12:14 PM

Quote:

Originally Posted by Unregistered (Post 182055)
Anybody can give me some advice?
Currently working in bank as TM, Binance SG offered me a role doing similar stuff and higher pay.
Is it worth the jump? Will it be hard if I would like to go back to bank say in a couple of years?

just do it. gogo

Unregistered 04-09-2021 11:06 PM

Quote:

Originally Posted by Unregistered (Post 182078)
just do it. gogo

Haha why so? Will you do it if it were you?

Unregistered 05-09-2021 09:08 AM

Quote:

Originally Posted by Unregistered (Post 182115)
Haha why so? Will you do it if it were you?

Go for it! Digital assets is the future! If they offer you higher pay for a similar TM role, why not? Take the chance to expose yourself with new challenges in this emerging field!

Unregistered 06-09-2021 10:08 AM

Quote:

Originally Posted by Unregistered (Post 182055)
Anybody can give me some advice?
Currently working in bank as TM, Binance SG offered me a role doing similar stuff and higher pay.
Is it worth the jump? Will it be hard if I would like to go back to bank say in a couple of years?

- Crypto is pretty specialized, it'll be quite hard imo to jump back to banks next time unless you have personal connections with the hiring manager. That being said, the growth potential is much bigger than banks. Banks are always finding ways to cut cost nowadays but Fintech is hiring. Some people might worry about jumping out of the big banking industry but there's actually tons of other opportunities in non-banking finance.

If you are interested in this industry definitely consider. Try negotiating for a significant bump if possible.

Unregistered 06-09-2021 05:03 PM

Quote:

Originally Posted by Unregistered (Post 182207)
- Crypto is pretty specialized, it'll be quite hard imo to jump back to banks next time unless you have personal connections with the hiring manager. That being said, the growth potential is much bigger than banks. Banks are always finding ways to cut cost nowadays but Fintech is hiring. Some people might worry about jumping out of the big banking industry but there's actually tons of other opportunities in non-banking finance.

If you are interested in this industry definitely consider. Try negotiating for a significant bump if possible.

Yup that's my concern too as right now I'm in a private bank, don't mind exploring this new sector however, just thinking if I would like to go back to the big banking industry will it be harder. Also what's a significant bump? 20%? 50%?

Unregistered 06-09-2021 11:11 PM

Quote:

Originally Posted by Unregistered (Post 182240)
Yup that's my concern too as right now I'm in a private bank, don't mind exploring this new sector however, just thinking if I would like to go back to the big banking industry will it be harder. Also what's a significant bump? 20%? 50%?

Yeah I see where you are coming from, the private banking sector is quite good. Another factor to keep in mind is whether you want to be a specialist in a private bank compared to taking on more responsibility at a smaller setup.

If you have interest in the industry definitely consider the role. A significant bump would be more than 30% imo.

Trust your gut and good luck!

Unregistered 07-09-2021 11:29 AM

Quote:

Originally Posted by Unregistered (Post 182282)
Yeah I see where you are coming from, the private banking sector is quite good. Another factor to keep in mind is whether you want to be a specialist in a private bank compared to taking on more responsibility at a smaller setup.

If you have interest in the industry definitely consider the role. A significant bump would be more than 30% imo.

Trust your gut and good luck!

In a best case scenario that I would love to have will be taking on more responsibility at a smaller setup and then returning to the bank to be a specialist haha.

Unregistered 07-09-2021 12:44 PM

Hello, when you all change job, does the hiring company ask for the payslip of the previous company? Asking as itís my first job hop after graduating two years ago

Unregistered 07-09-2021 11:33 PM

Quote:

Originally Posted by Unregistered (Post 182302)
In a best case scenario that I would love to have will be taking on more responsibility at a smaller setup and then returning to the bank to be a specialist haha.

Go for it then! But make sure the increment is worth it :)

Unregistered 07-09-2021 11:36 PM

Quote:

Originally Posted by Unregistered (Post 182055)
Anybody can give me some advice?
Currently working in bank as TM, Binance SG offered me a role doing similar stuff and higher pay.
Is it worth the jump? Will it be hard if I would like to go back to bank say in a couple of years?

please read the news and do your due diligence, thats the basis of compliance work
binance sg is not where u wanna be at this stage

Unregistered 08-09-2021 01:21 PM

Quote:

Originally Posted by Unregistered (Post 182375)
please read the news and do your due diligence, thats the basis of compliance work
binance sg is not where u wanna be at this stage

Lol why not? from my understanding they are a separate legal entity from binance.com and do not provide any services/ products from binance.com
Maybe you might want to share more?

Unregistered 08-09-2021 04:36 PM

Quote:

Originally Posted by Unregistered (Post 182282)
Yeah I see where you are coming from, the private banking sector is quite good. Another factor to keep in mind is whether you want to be a specialist in a private bank compared to taking on more responsibility at a smaller setup.

If you have interest in the industry definitely consider the role. A significant bump would be more than 30% imo.

Trust your gut and good luck!

Hi may I seek your advice - do you have a view between being a specialist in private bank vs a generalist in smaller setup? Many smaller PBs or boutiques have a really lean compliance team of maybe just 5-10 and they do everything from account opening, periodic review, transaction monitoring, policy & governance, monitoring and testing, regulatory compliance, etc. Good opp to gain exposure I guess?

Unregistered 08-09-2021 04:39 PM

Quote:

Originally Posted by Unregistered (Post 182282)
Yeah I see where you are coming from, the private banking sector is quite good. Another factor to keep in mind is whether you want to be a specialist in a private bank compared to taking on more responsibility at a smaller setup.

If you have interest in the industry definitely consider the role. A significant bump would be more than 30% imo.

Trust your gut and good luck!

Hi, may I seek your advice for your view on being a specialist in a big private bank versus a generalist in a smaller setup? For example, a smaller bank or boutique firm may have a lean team of just 5 - 10 compliance folks doing everything from account opening, periodic review, sow, transaction monitoring, policy & governance, monitoring and testing, etc. Guess one can have exposure to all these areas. Compared to a large bank where each of the function mentioned earlier have their standalone team that specialises in it.

Unregistered 09-09-2021 10:37 AM

Yeah it's fine, binance.com is a separate entity from binance sg and I'm sure binance will sort it out with the regulators over time. It's still one of the biggest if not the biggest crypto exchange.

Unregistered 13-09-2021 06:46 PM

just got a job offer from another company so was wondering how do you all resign? Print out the letter and pass to your manager or just email manager and cc HR?

Unregistered 13-09-2021 08:54 PM

hello. can anyone advise on how to get into compliance?

Unregistered 13-09-2021 10:38 PM

Quote:

Originally Posted by Unregistered (Post 182958)
hello. can anyone advise on how to get into compliance?

no. just no

Unregistered 14-09-2021 09:33 AM

Quote:

Originally Posted by Unregistered (Post 182947)
just got a job offer from another company so was wondering how do you all resign? Print out the letter and pass to your manager or just email manager and cc HR?

Yeah just write a standard letter and pass it to your manager. They will start counting your notice from the day you submit your letter.

Unregistered 14-09-2021 09:54 AM

Quote:

Originally Posted by Unregistered (Post 182419)
Hi, may I seek your advice for your view on being a specialist in a big private bank versus a generalist in a smaller setup? For example, a smaller bank or boutique firm may have a lean team of just 5 - 10 compliance folks doing everything from account opening, periodic review, sow, transaction monitoring, policy & governance, monitoring and testing, etc. Guess one can have exposure to all these areas. Compared to a large bank where each of the function mentioned earlier have their standalone team that specialises in it.

Oops missed this, I prefer a generalist role in a smaller setup and some recruiters might tell you the same thing as well.

- for big banks, the role alot of the time is very specialized (e.g. sanctions) which means it's harder to move to other FIs.
- compliance is a huge cost centre and roles can get offshored or cut.
- you can learn more in a smaller FI which translates to many different skillsets. Some might think specializing is good but I feel someone who has a wide spectrum of knowledge in compliance is more valuable than someone who just specializes in one area.

With the above being said some people do like working in big companies where you have more structure, maybe more prestige and benefits etc.

Unregistered 16-09-2021 01:49 AM

Hello, I just joined compliance role two months ago and Iím thinking of taking some courses, specifically ICA or ACAMS. Which is more recognised in SG? And I think I saw that ACAMS is IBF Level 2 so would I be able to take it with only 2 months of experience? To all those who took, how much did you all pay for it? Hope to get some help here, thanks!

Unregistered 16-09-2021 12:16 PM

Quote:

Originally Posted by Unregistered (Post 183029)
Oops missed this, I prefer a generalist role in a smaller setup and some recruiters might tell you the same thing as well.

- for big banks, the role alot of the time is very specialized (e.g. sanctions) which means it's harder to move to other FIs.
- compliance is a huge cost centre and roles can get offshored or cut.
- you can learn more in a smaller FI which translates to many different skillsets. Some might think specializing is good but I feel someone who has a wide spectrum of knowledge in compliance is more valuable than someone who just specializes in one area.

With the above being said some people do like working in big companies where you have more structure, maybe more prestige and benefits etc.

Thanks for sharing - this is very insightful. Are you yourself in a generalist role in a smaller setup or a specialist in a larger setup now?
What factors would make it or break it for you - in terms of swaying your decision to move from a generalist to a specialist (as you mentioned you prefer the former)?

Unregistered 16-09-2021 12:57 PM

Quote:

Originally Posted by Unregistered (Post 183029)
Oops missed this, I prefer a generalist role in a smaller setup and some recruiters might tell you the same thing as well.

- for big banks, the role alot of the time is very specialized (e.g. sanctions) which means it's harder to move to other FIs.
- compliance is a huge cost centre and roles can get offshored or cut.
- you can learn more in a smaller FI which translates to many different skillsets. Some might think specializing is good but I feel someone who has a wide spectrum of knowledge in compliance is more valuable than someone who just specializes in one area.

With the above being said some people do like working in big companies where you have more structure, maybe more prestige and benefits etc.

Agree with what you said. I am looking to go into generalist role but not willing to forgo working in a big company.

Unregistered 16-09-2021 05:05 PM

Quote:

Originally Posted by Unregistered (Post 183246)
Thanks for sharing - this is very insightful. Are you yourself in a generalist role in a smaller setup or a specialist in a larger setup now?
What factors would make it or break it for you - in terms of swaying your decision to move from a generalist to a specialist (as you mentioned you prefer the former)?

If you ask me there's almost no reason to stay in specialist roles for a long period (2-3 years), the only progression is a Team Lead or Head role, but such roles are very limited. Try to move to a broader role or advisory role as soon as you gain sufficient experience.

Was from a big setup, currently at a smaller setup doing a generalist role. If an opportunity presents itself in a good company and growing industry, e.g. Fintech, asset management, electronic trading etc definitely go for it. Pay is good, more breadth of experience, way lesser chance of getting retrenched/offshored. Downside is less "prestige" but that's about it.

Unregistered 17-09-2021 12:09 PM

Quote:

Originally Posted by Unregistered (Post 183226)
Hello, I just joined compliance role two months ago and Iím thinking of taking some courses, specifically ICA or ACAMS. Which is more recognised in SG? And I think I saw that ACAMS is IBF Level 2 so would I be able to take it with only 2 months of experience? To all those who took, how much did you all pay for it? Hope to get some help here, thanks!


Wanna know the same thing too!

Unregistered 17-09-2021 05:16 PM

Quote:

Originally Posted by Unregistered (Post 183383)
Wanna know the same thing too!

i just paid 3999.51 sgd for ACAMS

Unregistered 19-09-2021 01:01 PM

Quote:

Originally Posted by Unregistered (Post 183404)
i just paid 3999.51 sgd for ACAMS


Are you new to the industry or have been working for a few years already? I saw on the website that itís $1990 but not sure what it covers. Emailed them to ask but no reply yet.

Unregistered 19-09-2021 09:46 PM

If you already have ACAMS + pass the sg aml regime exam, will you still take the ICA diploma in aml? Like same thing.

Unregistered 21-09-2021 10:30 PM

Anyone has taken ICA Level 1(advanced certificate)? How much did you all pay for it?

Unregistered 29-09-2021 05:56 AM

Quote:

Originally Posted by Unregistered (Post 183226)
Hello, I just joined compliance role two months ago and Iím thinking of taking some courses, specifically ICA or ACAMS. Which is more recognised in SG? And I think I saw that ACAMS is IBF Level 2 so would I be able to take it with only 2 months of experience? To all those who took, how much did you all pay for it? Hope to get some help here, thanks!

I did ICA advanced cert (level 1), ICA diploma (level 2) and ACAMS (level 2). Both ICA and ACAMS are equally recognised in SG.

Yes can pass ACAMS with 2 months experience.

If office can sponsor you, grab it. For ACAMS, self-sponsored candidates can get IBF subsidy. I don't know if got same subsidy for ICA Dip. Rates are fixed in ICA and ACAMS. Won't change person to person. Must email and ask. Both ICA and ACAMS reply fast, within 3 working days.

Quote:

Originally Posted by Unregistered (Post 183600)
If you already have ACAMS + pass the sg aml regime exam, will you still take the ICA diploma in aml? Like same thing.

Yes, I still suggest taking ICA Diploma. Both ACAMS and ICA Diploma have own advantages. For example, in ICA Diploma you learn how to do risk scoring, gap analysis and manage (banking) product risk from design stage onward. CAMS will test on US Patriot Act, BSA, EU directives, Egmont, Wolfsberg, Basel, etc. CAMS SG regime exam will test on TBML ABS guidelines, CDSA, TSOFA, MAS, etc. Both ICA and ACAMS test for knowledge (fines, laws and fact-based questions) as well as logic (scenario-based questions). Its good to have all 3, ICA Diploma in AML, CAMS, and CAMS SG regime certifications.

Good Luck!

Unregistered 01-10-2021 09:02 PM

Quote:

Originally Posted by Unregistered (Post 184580)
I did ICA advanced cert (level 1), ICA diploma (level 2) and ACAMS (level 2). Both ICA and ACAMS are equally recognised in SG.

Yes can pass ACAMS with 2 months experience.

If office can sponsor you, grab it. For ACAMS, self-sponsored candidates can get IBF subsidy. I don't know if got same subsidy for ICA Dip. Rates are fixed in ICA and ACAMS. Won't change person to person. Must email and ask. Both ICA and ACAMS reply fast, within 3 working days.



Yes, I still suggest taking ICA Diploma. Both ACAMS and ICA Diploma have own advantages. For example, in ICA Diploma you learn how to do risk scoring, gap analysis and manage (banking) product risk from design stage onward. CAMS will test on US Patriot Act, BSA, EU directives, Egmont, Wolfsberg, Basel, etc. CAMS SG regime exam will test on TBML ABS guidelines, CDSA, TSOFA, MAS, etc. Both ICA and ACAMS test for knowledge (fines, laws and fact-based questions) as well as logic (scenario-based questions). Its good to have all 3, ICA Diploma in AML, CAMS, and CAMS SG regime certifications.

Good Luck!

How much did you pay for each of the three?


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