AML/Compliance/KYC professionals come in!

Originally Posted by Unregistered

hi all the experts here in compliance industry,

i was offered a job as CDD analyst in a insurance firm, a 6 months contract and base salary is $2400 only.

Is it too low and less than the market rate? is it worth it to take up the offer? I am a fresh degree graduate and tis is like a entry level role btw.

Hope for all ur opinions. Thank you very much.

Do not accept it.

1) Contract is fine but 2.4k is way too low for a fresh grad in this field.

2) Insurance sector is not transferable. The hottest jobs in the CDD market are mostly in banks and it is not easy to jump from insurance to banking side.

Approach recruiters for options in banks. They have plenty of fresh grad roles albeit most of them will be contract positions. However, their starting salary usually ranges from 2.8k to 3.2k for fresh grads without exp.

is it hard to jump from compliance to risk management or risk analyst? hows the prospect, stress level, job scope like in risk management?

hope for all the experts advice. thank you.

Need some advise! I'm currently in one of the ministries and getting around $7.5k/mth including bonuses after working for abt 4 years. I am curious if banks like HSBC is able to match that salary for an AML position?

Originally Posted by Skipp

Need some advise! I'm currently in one of the ministries and getting around $7.5k/mth including bonuses after working for abt 4 years. I am curious if banks like HSBC is able to match that salary for an AML position?

90k all-in is just associate level, I'm sure it's not a problem for them.

Hi, I will be graduating mid next year and I'm interested in the compliance field. Would like to get some advice from more experienced folks here on how to go about getting compliance related jobs (applied to banks and did not get a reply). Also, where would the best places to work in compliance be? Would it be in banks? Also in terms of roles in compliances, which type of roles would provide the best progression?

Originally Posted by Skipp

Need some advise! I'm currently in one of the ministries and getting around $7.5k/mth including bonuses after working for abt 4 years. I am curious if banks like HSBC is able to match that salary for an AML position?

This is a manager - AVP pay range. What level are you applying for and which ministries are you working for? You would need to have relevant experiences, for a bank to match your pay.

Originally Posted by Unregistered

Hi, I will be graduating mid next year and I'm interested in the compliance field. Would like to get some advice from more experienced folks here on how to go about getting compliance related jobs (applied to banks and did not get a reply). Also, where would the best places to work in compliance be? Would it be in banks? Also in terms of roles in compliances, which type of roles would provide the best progression?

You did not specify where are you graduating from. Did you manage to get an internship in a bank previously? There are too many fresh graduates applying for jobs in a bank, and with no relevant experiences, few banks want to take the chance to train you.

You should reach out to recruiters and surf all banks job sites, applied to as many as you can. Given that you are a fresh graduate, you don't have a choice to pick the roles that provide the best progression. Get your feet into the door first, then start transferring within the organization as you build your experience.

Originally Posted by Unregistered

You did not specify where are you graduating from. Did you manage to get an internship in a bank previously? There are too many fresh graduates applying for jobs in a bank, and with no relevant experiences, few banks want to take the chance to train you.

You should reach out to recruiters and surf all banks job sites, applied to as many as you can. Given that you are a fresh graduate, you don't have a choice to pick the roles that provide the best progression. Get your feet into the door first, then start transferring within the organization as you build your experience.

Fair point, I'm not being picky here, and I understand that I need to get my foot in the door first. I do not have relevant experience in compliance, but other than banking experience, what other types of experience do recruiters look for? Other than banks and the big 4, what are some other lesser known organizations to gain experience in compliance?

Originally Posted by Unregistered

This is a manager - AVP pay range. What level are you applying for and which ministries are you working for? You would need to have relevant experiences, for a bank to match your pay.

Wrong info. AVP low end is already getting 7.5k base, his 7.5k is include all the bonus as well. Not comparable. I would say if exclude bonus he is more at the lower end of Manager or higher end of Analyst.

Originally Posted by Unregistered

Fair point, I'm not being picky here, and I understand that I need to get my foot in the door first. I do not have relevant experience in compliance, but other than banking experience, what other types of experience do recruiters look for? Other than banks and the big 4, what are some other lesser known organizations to gain experience in compliance?

Aside from banking experience, you would still need some relevant experience. If you are from IRAS or police, it will be more reasonable to find a job in Compliance. If you from ministry or transport or sports, there is zero correlation. No sure any bank would consider you, regardless of pay.