AML/Compliance/KYC professionals come in!

hi there, may i know who have taken the ICA advanced certificate in GRC and is it necessary for advancement in this career path? is still considering whether to take tis cert anot. appreciate all ur suggestions. Thank you.

Originally Posted by Unregistered

How about transition from KYC to Aml advisory or another field?

I have been in KYC for 4 years. Am looking at what other roles that I can move on to.

4 years and you still don't know what role you can move into. Clearly, you don't understand what you are doing, the types of roles that are relevant, and how do you translate what you have learned to the next role.

Don't keep asking what you can get or what options are available to you. Figure out, what you can offer to an employer or a manager first. If you cannot translate what you have learned in the past 4 years, into applicable knowledge, even if you get a job in Advisory, you will never be able to grow in that function.

Originally Posted by Unregistered

hi there, may i know who have taken the ICA advanced certificate in GRC and is it necessary for advancement in this career path? is still considering whether to take tis cert anot. appreciate all ur suggestions. Thank you.

Some employers think that is useful, but to me, it is completely useless if you don't understand what you have studied, and it is just another line on your CV.

If you are completely fresh to the industry, taking the certificate shows your willingness to study and learn, in order to get the first feet in. However, application of what you have learnt, is very important. If you are already doing compliance work, you will learn more on the job. It is something you can consider, after doing the work for a few years, and you want to refine your understanding/knowledge. If you are doing it, just to show that you have this certificate, don't waste your time or money.

Originally Posted by Unregistered

4 years and you still don't know what role you can move into. Clearly, you don't understand what you are doing, the types of roles that are relevant, and how do you translate what you have learned to the next role.

Don't keep asking what you can get or what options are available to you. Figure out, what you can offer to an employer or a manager first. If you cannot translate what you have learned in the past 4 years, into applicable knowledge, even if you get a job in Advisory, you will never be able to grow in that function.

I dont need you to discipline me with this attitude. I am doing well in my KYC role and good in what I am doing.

In fact I could be earning more than you. I just wanted to know the options I have.

Originally Posted by Unregistered

I dont need you to discipline me with this attitude. I am doing well in my KYC role and good in what I am doing.

In fact I could be earning more than you. I just wanted to know the options I have.

I am not the previous poster.

But you seem destined for Ops.

Originally Posted by Unregistered

I am not the previous poster.

But you seem destined for Ops.

Like

P.S. I am the previous poster.

Originally Posted by Unregistered

1) It vary from banks to banks. Regardless of the prerequsite, you should still apply and try for it. Recruiters will probably won't put you up, but you can always apply directly via the FI's website. Similarly, you must be prepared for the interview, which is to actually study what each area covers. The reality is, there isn't so many candidates with direct AML Advisory and/or sanctions experiences floating around. Hence, some banks will take a stab with someone with the right thought process and right attitude.

2) No, this vary from banks to banks as well. If you are heading the team, you obviously cannot be at associate level. However, the head will still need a team to support him/her, and the team would range from associate to VP or even SVP.

Person A that comes from a diverse background such as Financial markets operations and consumer banking operations, are these experience useful in his work in Compliance? or is it better if he comes from a all-compliance background such as Transaction Monitoring?

Hi! May I know what are the prospects for compliance in the insurance industry?

Originally Posted by Unregistered

Hi! May I know what are the prospects for compliance in the insurance industry?

Insurance industry generally pays lower than banking industry, for compliance staff. The bonus used to be better than banks, but I am not sure about now. Insurance industry is generally less stressful and has a small coverage area. Career progression within insurance industry are also generally much slower than banks.

If you are trying to get into compliance industry and insurance company is the only option you have, you can give it a shot. If you are already in compliance industry in a bank, moving to insurance company may potentially set your career back.

[ocp]

Hi!

I have 3 years experience in aml and have completed the Adv Cert in GRC from ICA. I have a masters degree but not related to finance (did msc in a science subject). Am looking for a job in aml. How much can I expect for base pay?

Thanks in advance.