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

BusinessSingapore 28-07-2017 11:23 AM

Quote:

Originally Posted by Unregistered (Post 99011)
I've heard of senor Compliance heads earning up to $700k, don't know if it's true.

With the growing regulations compliance jobs now are very very hot. I wouldn't be surprised by a 700K paycheck.

Then again, its probably a FI MNC global/regional head kind of level.

BusinessSingapore 28-07-2017 11:32 AM

Quote:

Originally Posted by Tristine (Post 99016)
Hi all, I'm currently in a Premier relationship manager role in a foreign bank. Had a short stint with the bank's remediation exercise, and coincidentally got offered a position as a KYC/Ops role for a specific market, Japan FI. Pretty decent offer, but it's with a outsourced company for a private bank. Essentially I'm moving from sales to ops role. Any opinion on this? And I'm new to my current role about 6 months, so this change could mean a small step towards the AML/Compliance scene. I prefer to do this as I'm tired of chasing the numbers, but at the same time I wonder about the prospects.

I think you already have the answer.

This sounds like a great opportunity for you to gain some experience into a new market. A market that has seen alot of traction in the past few years and since the regulations are going to stay, the job is going to be there.

It is also a very decent offer like you said, only drawback would be the contract would be with the outsourced company. Anyway anyhow promotions and title shouldn't be a great concern to you know as once you have your 2 years experience with the PB you could always make a jump up externally.

BusinessSingapore 28-07-2017 11:41 AM

Quote:

Originally Posted by Unregistered (Post 98969)
Would AML experience gained in insurance/investment firms be considered relevant to an AML job in the banking industry? Most/all entry-level AML roles in banks require experience, considering doing AML in other industries to gain exp.

Highly likely, from what I know the requirements under MAS AML/counter terrorism applies the same across FIs. The difference only lies in the FIs platform and product offerings that might enable money laundering making the internal framework slightly different.

I also think that CMS licensed investment firms are very chill in their compliance, and insurance/banks would be much heavier. Your future employer might underscore your competency if that was the case.

Tristine 28-07-2017 01:49 PM

Quote:

Originally Posted by BusinessSingapore (Post 99018)
I think you already have the answer.

This sounds like a great opportunity for you to gain some experience into a new market. A market that has seen alot of traction in the past few years and since the regulations are going to stay, the job is going to be there.

It is also a very decent offer like you said, only drawback would be the contract would be with the outsourced company. Anyway anyhow promotions and title shouldn't be a great concern to you know as once you have your 2 years experience with the PB you could always make a jump up externally.

Thanks for the input. One of my concern is this, as this is a outsourced company. Plus job scope for this position is very much ops-based, like uploading of docs and answering queries from rm, review docs etc. Is there potential for progression?

BusinessSingapore 28-07-2017 06:15 PM

Quote:

Originally Posted by Tristine (Post 99020)
Thanks for the input. One of my concern is this, as this is a outsourced company. Plus job scope for this position is very much ops-based, like uploading of docs and answering queries from rm, review docs etc. Is there potential for progression?

That is compliance what haha reading and reviewing docs :D for a start. There are certainly opportunities externally once you have shored up enough experience.

Unregistered 29-07-2017 10:05 PM

Hi,
I have abt 9 yrs of experience in ops as a VP and 1 yr in compliance.
However the progression and exposure in compliance is limited as it is a small firm.
I would like to move on to other firms, preferably in compliance. Is it possible?
And how much should I be looking at?

Unregistered 29-07-2017 10:22 PM

Quote:

Originally Posted by Unregistered (Post 99062)
Hi,
I have abt 9 yrs of experience in ops as a VP and 1 yr in compliance.
However the progression and exposure in compliance is limited as it is a small firm.
I would like to move on to other firms, preferably in compliance. Is it possible?
And how much should I be looking at?

Possible depending on how your skills can be transferrable. Could you advise how is your pay range like and which area of compliance are you in and intend to enter?

Unregistered 29-07-2017 10:31 PM

Quote:

Originally Posted by Unregistered (Post 99063)
Possible depending on how your skills can be transferrable. Could you advise how is your pay range like and which area of compliance are you in and intend to enter?


Not more than 10k, is it still possible to stay in that range? I am doing onboarding and some regulatory stuff. Possible to move to other firms with this experience? Or what areas can I move to?

Unregistered 29-07-2017 10:48 PM

I would think you can move to onboarding with decent increment and stay within the range. It really depends on what ops you have been doing before. But for specific areas in compliance it will be harder. Compliance operations should be easier for you to enter.

Unregistered 30-07-2017 09:58 PM

Quote:

Originally Posted by Unregistered (Post 99065)
I would think you can move to onboarding with decent increment and stay within the range. It really depends on what ops you have been doing before. But for specific areas in compliance it will be harder. Compliance operations should be easier for you to enter.

Thanks. I am wondering whether it's possible to do any thing different fr ops or ops related. Quite tired of doing ops. Or it's difficult to make a career shift.


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