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12-04-2019, 11:07 AM
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Quote:
Originally Posted by Unregistered
Probably delusional young kids imagining that its possible. Obviously wont get past seasoned folks like u and myself, but it's bad to have such unrealistic ideals floating around for impressionable fresh grads or juniors.
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Ya agree. I was making 6k when I was 30 just 3 years ago and it's considered high in Compliance. It's impossible they are all making 8-10k nowadays with so many negative news.
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14-04-2019, 08:53 PM
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Junior Member
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Join Date: Oct 2013
Posts: 7
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Quote:
Originally Posted by Unregistered
How many months of bonus are you on? Or is 8950 inclusive of bonus?
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excl bonuses. 8950 is incl of my mthly fixed allowance (couple of hundred). for my case it isn't the "norm".... like i said in my previous post i didn't just sit quietly there and the monies just starting falling down like rain.... i worked my ass for it. change projs, regulatory inspections, etc - you name it. oh btw i think its obvious enough that i dont work in a big bank like many of the big boys here do.
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14-04-2019, 10:56 PM
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Quote:
Originally Posted by daydreamer
excl bonuses. 8950 is incl of my mthly fixed allowance (couple of hundred). for my case it isn't the "norm".... like i said in my previous post i didn't just sit quietly there and the monies just starting falling down like rain.... i worked my ass for it. change projs, regulatory inspections, etc - you name it. oh btw i think its obvious enough that i dont work in a big bank like many of the big boys here do.
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What type of role are you doing now? I can tell that you met the right mentors and opportunities.
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14-04-2019, 11:48 PM
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Junior Member
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Join Date: Oct 2013
Posts: 7
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Quote:
Originally Posted by Unregistered
What type of role are you doing now? I can tell that you met the right mentors and opportunities.
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i am in the FCC space.. cant reveal exactly the things that im doing else its really easy to figure out where i work / who am i...
just gonna put it this way.... the "special" things that i was doing were not supposed to be handled by someone of my level at that point in time... but due to some special circumstances no one was willing to take it up at all... so i did... those things eventually gave me enough bargaining chips to re-nego again my package and helped me to pushed for a big pay jump 1 yr ago... not as much as the gentleman who had >30% through an internal trsf... but close...
again i stress - i dont work in a big bank but i have heard stories about how the salaries are being pegged in some of those institutions.
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15-04-2019, 06:59 AM
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Quote:
Originally Posted by daydreamer
i am in the FCC space.. cant reveal exactly the things that im doing else its really easy to figure out where i work / who am i...
just gonna put it this way.... the "special" things that i was doing were not supposed to be handled by someone of my level at that point in time... but due to some special circumstances no one was willing to take it up at all... so i did... those things eventually gave me enough bargaining chips to re-nego again my package and helped me to pushed for a big pay jump 1 yr ago... not as much as the gentleman who had >30% through an internal trsf... but close...
again i stress - i dont work in a big bank but i have heard stories about how the salaries are being pegged in some of those institutions.
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I wonder why will people be un willing to take up the special things for exposure etc.
Would you want to remain in FCC ? I have been in KYC for 5 years and wanted to know if it is possible to switch over to FCC.
I am happy with my current role but may want to change to something different in future.
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15-04-2019, 01:30 PM
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Quote:
Originally Posted by Unregistered
I wonder why will people be un willing to take up the special things for exposure etc.
Would you want to remain in FCC ? I have been in KYC for 5 years and wanted to know if it is possible to switch over to FCC.
I am happy with my current role but may want to change to something different in future.
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different people different goals. some just want to clock 9-5 and go party after that or some just going through the motions without really applying what they have learnt/read.
Many freshies these days fail to unstd that its not just the compliance topics that they have to be familiar with but also various back to front office processes as well.
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21-04-2019, 02:49 AM
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hello, 27 this year and thinking of switching industry and thinking of joining compliance as my friend is currently working as a financial crime analyst. Not sure if it's too late to start and any valuable advice?
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21-04-2019, 09:05 PM
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Quote:
Originally Posted by Unregistered
hello, 27 this year and thinking of switching industry and thinking of joining compliance as my friend is currently working as a financial crime analyst. Not sure if it's too late to start and any valuable advice?
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whats your background
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22-04-2019, 12:06 AM
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totally unrelated to compliance, but hoping to switch since there's not much growth in my current company. I read quite a few pages but still kind of lost since there's so much going on. Understand that the prospects of compliance is not as good as last time because it's too saturated, and not sure which area will be better to specialize in?
And there's also a lot going on, like outsourcing so not sure which area of compliance is still in demand and for entry- level, which area should I venture into?
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23-04-2019, 11:46 PM
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Never too late to start but this is an industry which heavily favours those who are “experienced”, though not many r worth their weight in salt. Or also depends on how quickly you pick things up, in which organisation and whether your boss favours you.
If u r talking about aml compliance typically most starters will start off with transaction monitoring at big organisations, which is also the very ops like of it. U look at clients transactions for potentially suspicious activity, and u usually have a monthly quota to meet.
Or depending on the set up you may need to bao gar Liao, i.e client reviews/risk assessments transaction monitoring blabla. Such opportunities are better for growth but teams are usually very lean and small footprint.
Another area which is somewhat related are what you call kyc Analysts who do not sit with the aml compliance function, and deal more with client documentation requirements/matters. There is some carryover but I do not see this an area you should venture into for it is quite different from actually performing aml assessments or investigations
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