AML/Compliance/KYC professionals come in!

Hi im currently taking my private degree and am considering to get AML specialised diploma. ACAMS or ICA diploma is better? And also i would love to work in banks for AML roles. How and what are the requirements to get into it? Will my experience in Remittance and stockbroking firms suffice?

May I know what is an appropriate asking salary/market rate for a fresh private uni grad with no relevant experience for a permanent role as AML officer at a bank?

Originally Posted by Unregistered

May I know what is an appropriate asking salary/market rate for a fresh private uni grad with no relevant experience for a permanent role as AML officer at a bank?

At least 6k per month, do ask for sign on bonus as well if possible cause industry is short of AML people so you can negotiate for much better terms

Originally Posted by Unregistered

At least 6k per month, do ask for sign on bonus as well if possible cause industry is short of AML people so you can negotiate for much better terms

6k for your mum is it?

Originally Posted by Unregistered

May I know what is an appropriate asking salary/market rate for a fresh private uni grad with no relevant experience for a permanent role as AML officer at a bank?

foreign bank: $3k - $3.5k
local bank: $2.5k - $2.7k

usually, room for nego is limited or non-existent for fresh grads.. just secure the role and gain ur experience! gluck..

dont bother the troll on 6k..

Originally Posted by my2centsworth

foreign bank: $3k - $3.5k
local bank: $2.5k - $2.7k

usually, room for nego is limited or non-existent for fresh grads.. just secure the role and gain ur experience! gluck..

dont bother the troll on 6k..

How will salary progress with experience?

Originally Posted by my2centsworth

foreign bank: $3k - $3.5k
local bank: $2.5k - $2.7k

usually, room for nego is limited or non-existent for fresh grads.. just secure the role and gain ur experience! gluck..

dont bother the troll on 6k..

Actually I just spoke over the phone with a recruiter today and I when I quoted 3k as my expected starting the recruiter reacted with huge surprise - seemingly in shock. The salaries for a job obtained through a recruitment agency is understandably lower, but is 3k is a fair amount to ask for for a entry level compliance role - or does it depend on the type of role? Don't really understand why 3k sounds like such an outlandish figure, and just to add, I was instead quoted 2.5k for a "hard to come by entry level role".

Originally Posted by my2centsworth

foreign bank: $3k - $3.5k
local bank: $2.5k - $2.7k

usually, room for nego is limited or non-existent for fresh grads.. just secure the role and gain ur experience! gluck..

dont bother the troll on 6k..

Hey thanks for the guide on asking salary. Why is it that you suggest a higher starting salary for foreign bank though? Is it sth to do with bonuses?

Originally Posted by Unregistered

No problem, i have been through it before. While you are at it, you can also consider taking ACAMs and CFA. ACAMS if you want to specialise in AML/KYC, CFA is a luxury item, and only if you want to move into advising front office in the investment/asset management space.

Sorry for the late reply bro! Thanks alot for your advice and sharing. Only aids me in making my decision! Have a great weekend ahead!

Originally Posted by Unregistered

Hi im currently taking my private degree and am considering to get AML specialised diploma. ACAMS or ICA diploma is better? And also i would love to work in banks for AML roles. How and what are the requirements to get into it? Will my experience in Remittance and stockbroking firms suffice?

That depends on what you do in the remittance and stockbroking firms...they are after all regulated under different regimes from banking...my advice would be to stay for 4-5 years which would stand you a good chance...I speak from personal experience =)