AML/Compliance/KYC professionals come in!

Originally Posted by Unregistered

Having chance upon this thread, I find its quite interesting but nonetheless thought I would post to just join in the fun.

Compliance space is a very interesting area, neither front (though we meet prospects/clients as part of the DD process), middle (since we are between the sales and ops) nor back office since we do not just plainly process sheets of papers.

Yet, amongst the none front office persons, we are easily one of the highest paid.

When I turn 30 (seemingly an age a lot of you reference here), I was drawing around $10k fixed with variable depending on company and individual performance and by mid 30s, I was banking around $15k as a head of company for a mid size outfit with my own team. Life was different in each part of my career, from flying 50% of my time, not seeing gf enough till partying on weekends so much to make up for the loss of time on weekdays.

All in all, it depends on what you want to achieve, career vs family or if you seek balance in both.

Good luck to all intending to join, remember, it job pays well but be expected to be driven. I have my fair share of asking those who do not make the cut to change career but have also given reference to others who are good and are now themselves Heads/Chief Compliance Officers.

you sure don't sound like a 40 year old head/senior exec...

Originally Posted by Unregistered

1) It is MAS 626. There are also other publications that important such as ABS guideline on AML.

2) Read, interpret and convey to business units and other stakeholders.

3) ACAMS or Diploma in ICA is usual route. However, having the relevant experience is more important than anything.

Thanks for your answers!

Hi !
Should I join SPF with a specialisation in AML (Commercial affairs department), gain experience, then hop over to a compliance related role in the private sector in the future (ive heard that there are ex officers working in the private sector at companies such as FB).
Thank you in advance for your advice

[QUOTE=HelpThisKid95;118682]Hi !
Should I join SPF with a specialisation in AML (Commercial affairs department), gain experience, then hop over to a compliance related role in the private sector in the future (ive heard that there are ex officers working in the private sector at companies such as FB).

Not the best path out there. The compliance sector is already getting saturated and you'd have to work several years at CAD before they take you, but even then you'll only be taken at the analyst level at the local banks / tech companies.

Take it only if it's the only offer you have.

Hello everyone~

I just received a call from recruiter and she said:
fresh grad, local bank = 2.2k
some experience but not relevant (aka me), local bank = 2.4k

I was taken aback by the quote. Understand that it is probably a oversupply market now but 2.4k just seems so.... low?

My profile: private deg with some work experience

Was wondering if anyone else got conveyed the same amounts, thanks guys.

Originally Posted by straw

Hello everyone~

I just received a call from recruiter and she said:
fresh grad, local bank = 2.2k
some experience but not relevant (aka me), local bank = 2.4k

I was taken aback by the quote. Understand that it is probably a oversupply market now but 2.4k just seems so.... low?

My profile: private deg with some work experience

Was wondering if anyone else got conveyed the same amounts, thanks guys.

BTW this is contract position as "no banks will take perm staff for someone with no compliance background"

Originally Posted by straw

BTW this is contract position as "no banks will take perm staff for someone with no compliance background"

What kind of compliance roles are these?

Originally Posted by Unregistered

What kind of compliance roles are these?

CDD and KYC

Originally Posted by straw

CDD and KYC

2k plus for certain contract roles is possible. You need to dive into the actual job scope as some roles are just screening. With no or little relevant experience, this is salary range you can expect.

Only 3+ years experience onwards can get you 4k to 7k range.

What are the typical roles for compliance officers should they want an exit?

What are these roles:
- within the banking industry?
- exiting the banking industry?