AML/Compliance/KYC professionals come in!

Originally Posted by Unregistered

How is IT audit like nowadays? Heard it's not a very popular role despite the decent pay as it's deadend and boring.

Can’t expect much from an audit role, naturally they’d be boring. But should pay pretty well especially when it concerns IT.

Hello dear compliance folks and peers, I graduated in 2017 and have close to 6 years of working experience in the compliance space till date in 2 large banks.

Currently drawing ~ $7.5k p.m. Is this reasonable for my years of experience? If not, what is a good ballpark figure that I should be expecting?

Thank you

Originally Posted by Unregistered

Hello dear compliance folks and peers, I graduated in 2017 and have close to 6 years of working experience in the compliance space till date in 2 large banks.

Currently drawing ~ $7.5k p.m. Is this reasonable for my years of experience? If not, what is a good ballpark figure that I should be expecting?

Thank you

Came here for a similar query. I graduated in 2017 too and currently drawing 7.8k. Been looking around these few months and was recently offered a role at 9.3k. Was wondering if this offer was in line with current compliance market averages.

Originally Posted by Unregistered

Came here for a similar query. I graduated in 2017 too and currently drawing 7.8k. Been looking around these few months and was recently offered a role at 9.3k. Was wondering if this offer was in line with current compliance market averages.

Although there are many variables such as the type of compliance department you are in (compliance advisory or compliance operations), local or int bank etc., 8-10k seems about right. Bonus should be 20-25% on avg.

hello folks. hope to seek some advice on how to kickstart my compliance journey, current doing audit and graduated from a local university 1 year back — with pretty not so fantastic grades :/.

salary is one of my priority but I’ve heard it’s difficult to get into foreign banks.

I aim to leave by EOY and would be drawing abt 4k/mnth.

Also, is compliance a fulfilling career to pursue? What sort of roles should I go for (KYC/AML.. etc)

thanks a lot! ☺️

Originally Posted by Unregistered

Although there are many variables such as the type of compliance department you are in (compliance advisory or compliance operations), local or int bank etc., 8-10k seems about right. Bonus should be 20-25% on avg.

Thanks for the insight! Do you think there is a distinct difference in pay for different teams / LoD, for e.g. a KYC/onboarding/1.5 role vs a FCC/Reg Com/2.0 role?

Originally Posted by Unregistered

hello folks. hope to seek some advice on how to kickstart my compliance journey, current doing audit and graduated from a local university 1 year back — with pretty not so fantastic grades :/.

salary is one of my priority but I’ve heard it’s difficult to get into foreign banks.

I aim to leave by EOY and would be drawing abt 4k/mnth.

Also, is compliance a fulfilling career to pursue? What sort of roles should I go for (KYC/AML.. etc)

thanks a lot! ☺️

By compliance, presuming you mean 2nd LoD roles such as compliance testing / assurance; reg compliance; aml reviews of high risk clients, etc? Such roles are very competitve and hard to come by. You could increase your chances by exploring relevant 1.5 roles such as KYC ops and hopefully do well enough to find a compliance placement internally. Audit background is highly sought after for testing / assurance roles though, you may consider!

Hi guys, I would like to move to an AML position, unfortunately my current work experience (public sector) is not relevant. Would like to ask if no experience + ICA Cert in AML + CAMS is good enough to get associate level. Thanks!

Originally Posted by Unregistered

Hi guys, I would like to move to an AML position, unfortunately my current work experience (public sector) is not relevant. Would like to ask if no experience + ICA Cert in AML + CAMS is good enough to get associate level. Thanks!

Frankly speaking, certificates may help in showing your interest in the field. However, it largely depends on the role you’re applying for, how the managers/interviewers feel about you, your transferrable skillset and attitude etc. Unless you have technical AML knowledge and actual working contributions in that field, do be prepared to settle for even a junior role.

Why have you decided to move to AML? Why specifically AML?

Originally Posted by Unregistered

Frankly speaking, certificates may help in showing your interest in the field. However, it largely depends on the role you’re applying for, how the managers/interviewers feel about you, your transferrable skillset and attitude etc. Unless you have technical AML knowledge and actual working contributions in that field, do be prepared to settle for even a junior role.

Why have you decided to move to AML? Why specifically AML?

Felt that the public sector just wasnt a right fit. Would like to try the finance industry and thought that other roles such as banking ops would be difficult to get a foot in as there are not really much certs that can help jump start, unlike AML.

Would eventually want to get into FCC though.