AML/Compliance/KYC professionals come in!

[Hikaru]

Originally Posted by Unregistered

That cert is extremely specialized. Correspondent banking is just a small subset within the AML space. If it's free aka govt credits, go for it. But it will not open any additional doors you, imo.

I see. Thanks alot for your valuable advice

Originally Posted by Hikaru

I see. Thanks alot for your valuable advice

Not a problem. Good luck!

i don't know how recognized ICTA Level 2 diploma is.. content wise i don't really think its that enriching at all...

for non-compliance folks, taking on the level 2 diploma maybe a bit tough. There was a guy in my group last time who used to be in Ops, trying to make a career change hence enrolled himself in the certificate and diploma course. But most of the time, he doesn't understand what was being discussed about.. it is not even a lecture, just going through the motion, some discussions here and there and group discussion / presentation just for the sake of completeness... End of the day, did he and the other non-compliance folks learned anything? well.. i guess they know the names of various laws and regulations... lol.. Will any hiring manager based on solely their cert? I know i won't....

Not saying its thoroughly useless... my opinion may be skewed since my sample size is too small and probably biased as well.. If you have spare cash of S$12.5K lying around (70% subsidy but you will only be reimbursed like 6months after) can go try... Otherwise I think CAMS will be more than sufficient... will even be better if you can take up some contractual position... i find that to be more practical than just equipped yourself with paper qualifications and go knock on other people's door for a job...

[Hikaru]

Ya on the lookout even for contractual compliance positions too but sent tons of CV n zero reply heard from the recruitment staffs, the client want experience -__-

Got a job doing aml ops for 3.3K. Idk if it's below market rate or not. Im glad to be given the opportunity but at the same time im uncertain how the growth will be like as I hope to get 4K+ salary next but I doubt anyone would give me an increment of 700 or more.. Sigh

Originally Posted by Unregistered

Got a job doing aml ops for 3.3K. Idk if it's below market rate or not. Im glad to be given the opportunity but at the same time im uncertain how the growth will be like as I hope to get 4K+ salary next but I doubt anyone would give me an increment of 700 or more.. Sigh

Are you a fresh grad, any bonus? If yes its considered quite good already. Whether you can grow depends on how much you can add value.

Originally Posted by Unregistered

Are you a fresh grad, any bonus? If yes its considered quite good already. Whether you can grow depends on how much you can add value.

Hi, yes I'm a fresh graduate. I spent my whole night reading through this entire forum and realize other people are doing much better than me, eg. Starting pay 4K, earning 6K++ at 26 years old etc etc. I don't see how I'm able to reach that right now.... Am slightly demoralized as I was hoping to do at least average

Originally Posted by Unregistered

Hi, yes I'm a fresh graduate. I spent my whole night reading through this entire forum and realize other people are doing much better than me, eg. Starting pay 4K, earning 6K++ at 26 years old etc etc. I don't see how I'm able to reach that right now.... Am slightly demoralized as I was hoping to do at least average

Take everything u read here with a pinch of salt. Most of them are grossly made up in order to make themselves feel better.

When I graduated 4 years ago, my starting pay with 2.7k. I am now at 5.5k in a team lead position.

Originally Posted by Unregistered

Take everything u read here with a pinch of salt. Most of them are grossly made up in order to make themselves feel better.

When I graduated 4 years ago, my starting pay with 2.7k. I am now at 5.5k in a team lead position.

Thanks for your advice. You have a pretty good pay progression, I really hope my career will turn out like yours. Think I'll work hard at my work and try to fight for higher increment despite it not being that possible.

Then may I also know roughly how the progression should be like perhaps 3-7 years down the road? The value mentioned by others in previous pages all seem to be pretty high but it coincides with what recruiters like Hays and Michael Page are reporting.

Originally Posted by Unregistered

Thanks for your advice. You have a pretty good pay progression, I really hope my career will turn out like yours. Think I'll work hard at my work and try to fight for higher increment despite it not being that possible.

Then may I also know roughly how the progression should be like perhaps 3-7 years down the road? The value mentioned by others in previous pages all seem to be pretty high but it coincides with what recruiters like Hays and Michael Page are reporting.

Hi, I am the Ist poster that replied you. I suggest you learn as much as you can. Like the 2nd poster, I also graduated 4 yrs ago. Started with 2.8k (3 to 4 bonus) and now I am getting 6k plus with bonuses all in. I agree you should like this forum as a pinch of salt. But I am telling you from my own experience. You learn n value add, the increment will come.