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

Unregistered 19-08-2016 07:25 AM
Seeking Advice.
 
Hi All,

I been doing KYC over 3 years but not getting any progression and drawing only 3k pay.
Everyday OT gao gao work until 8PM saturday come back half day work until no life.

Hitting a Wall in a long hour lousy job with no progression sian to the max.

Anyone have any kind advice for me?

Thank you.

Unregistered 19-08-2016 08:14 AM
Quote:
Originally Posted by Unregistered (Post 89623)
Hi All,

I been doing KYC over 3 years but not getting any progression and drawing only 3k pay.
Everyday OT gao gao work until 8PM saturday come back half day work until no life.

Hitting a Wall in a long hour lousy job with no progression sian to the max.

Anyone have any kind advice for me?

Thank you.
What is your qualification, perm or contract?

What is your daily role about?

Unregistered 19-08-2016 09:42 AM
Quote:
Originally Posted by Unregistered (Post 89607)
Well yes, definitely I think I am one of the lucky ones. I know many of my previous colleagues who are still struggling. This is an overrated industry that somehow many think is attractive. But they dont know the reality.
This is not me. You can ignore these statements.

Unregistered 19-08-2016 09:46 AM
Quote:
Originally Posted by Unregistered (Post 89605)
Do you think you're an outlier/high flyer? I don't think most ppl's career in AML goes as smoothly as yours
I am definitely not a high flyer. I have a degree in Banking & Finance from an Aussie uni but no honors or masters, not a dean lister etc. No professional qualifications yet as well, but am in the midst of studying for CAMS.

To be honest, it really goes down to finding the right time and opportunity to jump, and jump often. If I have to point out my strongest skillset, I have to say it's my interviewing skills more than anything technical or work related.

Unregistered 19-08-2016 09:49 AM
Quote:
Originally Posted by Unregistered (Post 89610)
Actually what do you doing in KYC/AML advisory?
Being the point of contact in the Compliance team for the Due Diligence team as well as Business, on all issues related to KYC and AML.

They usually present complex situations, and my job is to analyst, dissect and ask the right questions, pointing them in the right direction and prescribing a risk based approach to take for the situation.

In a nutshell, the bulk of what my team does.

Unregistered 19-08-2016 09:51 AM
Quote:
Originally Posted by Unregistered (Post 89609)
Then may I ask wat r your previous colleagues doing now? Still at analyst / associate lvl doing more ops aml / kyc roles? Guess u gotta know the right ppl to rise up
The bulk of my ex colleagues from the KYC domain are still within the KYC space, in one form or another. Most of them have risen up to senior analyst or assoc roles, though we don't really talk about those kinda stuff when we meet up. Sensitive.

Unregistered 19-08-2016 09:53 AM
Quote:
Originally Posted by Unregistered (Post 89613)
For onboarding of clients, who are the ones who get the documents from clients? Client facing team, ops or compliance etc?
Differs from bank to bank. Some banks have dedicated client management teams that deal exclusively with the acquisition of documentation (KYC, legal, credit etc.) from the client. Some banks put the responsibility on the KYC operational team to get these documents from the client.

I have never heard of Compliance personnel being tasked for such matters. Pretty sure it's a clash in mandate. Compliance is strictly internal and not supposed to be client facing in any form.

Unregistered 19-08-2016 10:36 AM
Quote:
Originally Posted by Unregistered (Post 89626)
I am definitely not a high flyer. I have a degree in Banking & Finance from an Aussie uni but no honors or masters, not a dean lister etc. No professional qualifications yet as well, but am in the midst of studying for CAMS.

To be honest, it really goes down to finding the right time and opportunity to jump, and jump often. If I have to point out my strongest skillset, I have to say it's my interviewing skills more than anything technical or work related.
Agree..technical skills can be trained.

Unregistered 19-08-2016 10:41 AM
Quote:
Originally Posted by Unregistered (Post 89629)
Differs from bank to bank. Some banks have dedicated client management teams that deal exclusively with the acquisition of documentation (KYC, legal, credit etc.) from the client. Some banks put the responsibility on the KYC operational team to get these documents from the client.

I have never heard of Compliance personnel being tasked for such matters. Pretty sure it's a clash in mandate. Compliance is strictly internal and not supposed to be client facing in any form.
Thanks for sharing.

Unregistered 19-08-2016 11:59 AM
Quote:
Originally Posted by Unregistered (Post 89629)
Differs from bank to bank. Some banks have dedicated client management teams that deal exclusively with the acquisition of documentation (KYC, legal, credit etc.) from the client. Some banks put the responsibility on the KYC operational team to get these documents from the client.

I have never heard of Compliance personnel being tasked for such matters. Pretty sure it's a clash in mandate. Compliance is strictly internal and not supposed to be client facing in any form.
Why is there a clash in mandate for compliance?


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