AML/Compliance/KYC professionals come in!

Originally Posted by Unregistered

This is pretty accurate. Take note that this poster has the relevant internships to boost his CV before entering this field, hence the relatively high offer. Check your expectations with what you have on your CV in mind.

Thanks for the advice, however for a local uni grad that does not have relevant internship experience in the area of KYC/AML, what would be the starting pay that recruitment agencies offer be 2500-2800 as the poster has mentioned? I would just like to confirm this as trawling through previous posts on this thread, I have seen posters that have taken up entry level contract positions with salaries of 3k, and that was a couple of years ago.

Originally Posted by Unregistered

Thanks for the advice, however for a local uni grad that does not have relevant internship experience in the area of KYC/AML, what would be the starting pay that recruitment agencies offer be 2500-2800 as the poster has mentioned? I would just like to confirm this as trawling through previous posts on this thread, I have seen posters that have taken up entry level contract positions with salaries of 3k, and that was a couple of years ago.

U did your due diligence, will give you some credit. Contract positions within the KYC field for a fresh uni grad starts in the range of 3k. Don't settle for anything less, it will just be plain lowballing by the agency. If you are lucky enough to grab a permanent position, the range is typically 3.4 - 3.7k, depending on the bank's profile (wholesale, private, investment bank etc.).

Some contracts come with a completion bonus (usually 1 month for a 1 year contract), so see if you can negotiate for it.

Originally Posted by Unregistered

U did your due diligence, will give you some credit. Contract positions within the KYC field for a fresh uni grad starts in the range of 3k. Don't settle for anything less, it will just be plain lowballing by the agency. If you are lucky enough to grab a permanent position, the range is typically 3.4 - 3.7k, depending on the bank's profile (wholesale, private, investment bank etc.).

Some contracts come with a completion bonus (usually 1 month for a 1 year contract), so see if you can negotiate for it.

Thanks, not sure if you have any experience with contract positions or recruitment agencies, but hopefully someone could shed some light on this. So after looking through many recruitment agencies' websites, I don't really see any entry level roles with 3k starting or even many entry level roles being advertised in the first place. Would these entry level roles only be shared with candidates after making contact with the recruiters or are most of their positions already advertised online?

Also, are there any recruitment agencies that are more prominent in placing candidates in such roles? Previous posters have also mentioned that RE and Randstad have the highest number of mandates in this area - true?

Originally Posted by Unregistered

Thanks, not sure if you have any experience with contract positions or recruitment agencies, but hopefully someone could shed some light on this. So after looking through many recruitment agencies' websites, I don't really see any entry level roles with 3k starting or even many entry level roles being advertised in the first place. Would these entry level roles only be shared with candidates after making contact with the recruiters or are most of their positions already advertised online?

Also, are there any recruitment agencies that are more prominent in placing candidates in such roles? Previous posters have also mentioned that RE and Randstad have the highest number of mandates in this area - true?

I am one of the posters that have provided this information regarding contract positions. I have extensive knowledge of this, having started out in this field as a contractor and now being a hiring manager liasing with the agencies on contract hires. You can try jobsdb, it has the highest % of entry level positions among the job portals out there. From there, you can clearly see which agencies specialize in such positions.

Originally Posted by Unregistered

Thanks, the window for normal application windows for banks are closed now so I guess my best choice would be to go with recruitment agencies. Did our friends with starting salaries at the lower 3k range go through recruitment agencies?

Sorry I am not aware whether they went through agencies. I agree that the 2500-2800 I was quoted was a lowballed figure. Also, when I was searching for a temp job earlier, I was quoted 2200 for a 3 month compliance role from Recruit Express.

Although the main graduate program intake window for the year is over, have you tried looking through the banks' own job portals for possible openings? I recall seeing a few in April. You may also want to consider FIs other than banks, such as stockbrokers or insurance firms, etc.

I believe expecting ~3k is reasonable and you should be able to find a suitable opening sooner or later. Good luck!

Originally Posted by Unregistered

Sorry I am not aware whether they went through agencies. I agree that the 2500-2800 I was quoted was a lowballed figure. Also, when I was searching for a temp job earlier, I was quoted 2200 for a 3 month compliance role from Recruit Express.

Although the main graduate program intake window for the year is over, have you tried looking through the banks' own job portals for possible openings? I recall seeing a few in April. You may also want to consider FIs other than banks, such as stockbrokers or insurance firms, etc.

I believe expecting ~3k is reasonable and you should be able to find a suitable opening sooner or later. Good luck!

Thanks, all the best for your new role as well!

Originally Posted by Unregistered

I am one of the posters that have provided this information regarding contract positions. I have extensive knowledge of this, having started out in this field as a contractor and now being a hiring manager liasing with the agencies on contract hires. You can try jobsdb, it has the highest % of entry level positions among the job portals out there. From there, you can clearly see which agencies specialize in such positions.

Thanks for this info, as a hiring manager could you also possibly share what the norm is for starting salaries for fresh grads?

Anyone can advise if Communication Surveillance is good and has prospect?

Originally Posted by Unregistered

U did your due diligence, will give you some credit. Contract positions within the KYC field for a fresh

uni grad starts in the range of 3k. Don't settle for anything less, it will just be plain lowballing by the agency. If you are lucky enough to grab a permanent position, the range is typically 3.4 - 3.7k, depending on the bank's profile (wholesale, private, investment bank etc.).

Some contracts come with a completion bonus (usually 1 month for a 1 year contract), so see if you can negotiate for it.

Would the figures be roughly the same for non-local U graduates?

Dear AML KYC folks, would like to ask for your kind advice. I was one of the previous posters who had posted before with regards to FATCA and CRS. I have since started my position last week and would like to ask if a degree is essential for me to progress higher up in the ladder?

I have spoken to a few ex colleagues and some actually told me to pursue ACAMS instead of a degree if my career path is geared towards compliance. A couple of them advised against degree as they told me there's no specialised degree in AML/Compliance but there's a diploma in AML.

Thus would like to ask senior folks here if a decision to pursue the ACAMS dip is more worthy than a private degree. Thank you