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

Unregistered 10-02-2017 08:53 PM

Quote:

Originally Posted by Unregistered (Post 94417)
Dumb questions from you begets dumb answers.

Suck it up bud.

Most likely..obviously

Unregistered 13-02-2017 09:58 AM

Quote:

Originally Posted by Unregistered (Post 94422)
Most likely..obviously

U sound like a little b***h.

Unregistered 14-02-2017 10:33 AM

Quote:

Originally Posted by Unregistered (Post 94379)
My advice to you will be to search for a better option. Plenty of fresh grads that went into Settlements are stuck there, with no upside at all. There is little to no mobility in terms of changing functions.

Plenty of KYC/AML roles out there that will consider fresh grads. This is a much better stepping stone into the world of Compliance. I personally made the jump from KYC ops into Compliance Advisory. Good luck!

Hi, how did u make the switch from KYC ops to compliance advisory? I am looking at the exact career growth as well. I have 2.2 years financial crime experience and 10 months of KYC ops exp. however I find KYC so boring n mundane.

Unregistered 14-02-2017 01:31 PM

Quote:

Originally Posted by Unregistered (Post 94531)
Hi, how did u make the switch from KYC ops to compliance advisory? I am looking at the exact career growth as well. I have 2.2 years financial crime experience and 10 months of KYC ops exp. however I find KYC so boring n mundane.

It wasn't as difficult as I imagined it to be. A lot of the smaller banks have dual functions sitting within their Compliance department, with Compliance personnel performing dual QA + advisory functions for their KYC due diligence teams. That's how I made my initial jump. Now I've moved back into a bigger European bank and currently in AML advisory.

Unregistered 14-02-2017 10:53 PM

The compliance field within the banking and finance scene is now saturated with people. With big banks hiring en masse and rolling out graduate programmes for compliance track (a.k.a cheaper labor), it becomes harder and even more so important to be able to distinguish yourself from Peter and Mary sitting opposite you.

Competition becomes stiffer at the lower rungs. But of course, at the middle to top level its a total different ball game.

But the golden rule still holds, always network and it certainly pays to know people in higher rankings even if they are outside of your firm.

Unregistered 15-02-2017 06:11 PM

Hi all, I am new to this forum and I did go through at least 50% of the pages. Please kindly offer some advice here.

I guess most will laugh at my post. But really, I think I just need someone to tell me in my face that it is impossible.

I am 33. No experience in compliance. Graduated from SIM with business degree - topped the class (but yes I know it doesn't matter as it's been so long ago). Worked in SQ and Sales roles in 2 banks before. Banking sales experience about 3-4 years (secured loans and as a relationship manager). Currently in Financial Advisory for about 2 years. Every since I was doing sales till now, I fetch on average $10K a month. But I really yearn for a more stable job but with potential to grow in career progression and pay. I am a hard worker and is very willing to learn. But frankly I do not know of what other roles I can look at. I guess no one would even look at my resume for an entry role in compliance even if I obtain certifications from ICA, right?

Thank you.

Unregistered 15-02-2017 06:35 PM

Quote:

Originally Posted by Unregistered (Post 94474)
U sound like a little b***h.

Dear "Most likely..obviously"

Unregistered 16-02-2017 11:17 AM

Quote:

Originally Posted by Unregistered (Post 94630)
Hi all, I am new to this forum and I did go through at least 50% of the pages. Please kindly offer some advice here.

I guess most will laugh at my post. But really, I think I just need someone to tell me in my face that it is impossible.

I am 33. No experience in compliance. Graduated from SIM with business degree - topped the class (but yes I know it doesn't matter as it's been so long ago). Worked in SQ and Sales roles in 2 banks before. Banking sales experience about 3-4 years (secured loans and as a relationship manager). Currently in Financial Advisory for about 2 years. Every since I was doing sales till now, I fetch on average $10K a month. But I really yearn for a more stable job but with potential to grow in career progression and pay. I am a hard worker and is very willing to learn. But frankly I do not know of what other roles I can look at. I guess no one would even look at my resume for an entry role in compliance even if I obtain certifications from ICA, right?

Thank you.

To be honest, the pay cut that you will have to take to move into Compliance will be tremendous, unless you can get a internal move, which will still be very challenging given your current remuneration and what you can bring to the team in terms of your skillset.

If I were in your shoes, I wouldn't consider a move into a niche specialty like Compliance. Perhaps a move into Products or some sort of direct Sales Support function will be a better move for you.

Unregistered 16-02-2017 01:16 PM

Quote:

Originally Posted by Unregistered (Post 94630)
Hi all, I am new to this forum and I did go through at least 50% of the pages. Please kindly offer some advice here.

I guess most will laugh at my post. But really, I think I just need someone to tell me in my face that it is impossible.

I am 33. No experience in compliance. Graduated from SIM with business degree - topped the class (but yes I know it doesn't matter as it's been so long ago). Worked in SQ and Sales roles in 2 banks before. Banking sales experience about 3-4 years (secured loans and as a relationship manager). Currently in Financial Advisory for about 2 years. Every since I was doing sales till now, I fetch on average $10K a month. But I really yearn for a more stable job but with potential to grow in career progression and pay. I am a hard worker and is very willing to learn. But frankly I do not know of what other roles I can look at. I guess no one would even look at my resume for an entry role in compliance even if I obtain certifications from ICA, right?

Thank you.


Why even bother looking at compliance when your experience is totally different and current pay is above what an entry level role in compliance can pay u. In fact, i think there is over supply of compliance people as any tom, dick and harry with a degree somewhere can just get an entry level perm or contract role and start from there. there is no distinguished factor unless u possess a law bachelor or J.D. else you are just another number cruncher in the department. Some claim they worked in compliance for years but still have no idea what they are doing at times.

Unregistered 16-02-2017 03:31 PM

Quote:

Originally Posted by Unregistered (Post 94630)
Hi all, I am new to this forum and I did go through at least 50% of the pages. Please kindly offer some advice here.

I guess most will laugh at my post. But really, I think I just need someone to tell me in my face that it is impossible.

I am 33. No experience in compliance. Graduated from SIM with business degree - topped the class (but yes I know it doesn't matter as it's been so long ago). Worked in SQ and Sales roles in 2 banks before. Banking sales experience about 3-4 years (secured loans and as a relationship manager). Currently in Financial Advisory for about 2 years. Every since I was doing sales till now, I fetch on average $10K a month. But I really yearn for a more stable job but with potential to grow in career progression and pay. I am a hard worker and is very willing to learn. But frankly I do not know of what other roles I can look at. I guess no one would even look at my resume for an entry role in compliance even if I obtain certifications from ICA, right?

Thank you.

If you are working in a larger bank, your best chance is an internal transfer. It's unlikely that you can do a direct transfer for a compliance role, but a sales support function is a possible step before moving to a pure compliance role. Your pay will be a senior AVP / VP position, so bigger banks would be able to provide an equivalent pay and take someone internally with little relevant experience.


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