AML/Compliance/KYC professionals come in!

Originally Posted by Unregistered

Hi all,

Just wanted to ask about the no. of years experience needed to "climb the ladder". Any input will be much appreciated. Below is my rough guess (not in banks currently)

Analyst = 0-1 years exp
Senior analyst = 2-3 years exp
Associate / asst mgr = 4-5 years exp
Senior associate / mgr / jr AVP = 6-7 years exp
AVP / jr VP = 8-9 years exp
VP = 10+ years exp

Also, does one usually go up the next grade by jumping banks or staying put?

Since we are on this topic, can anyone share the route of an compliance officer (role-wise) based on the same format:

Analyst =
Senior analyst =
Associate / asst mgr =
Senior associate / mgr / jr AVP =
AVP / jr VP =
VP =

Originally Posted by Unregistered

Depends on what kind of ops, duh.

im being generic as i dont know the full spectrum of ops. so far, only seeing my friends in settlements area which i assume its the least well paid area. maybe you can shed some light on it as well.

Originally Posted by Unregistered

why is this so? and how's the salary like?

and prospects?

coz they got screwed upside down by regulators in the US.

Now SG is their hub for aml

Originally Posted by Unregistered

All depends . But can be sure, different bank has different corporate ladder. Depending on which department. For my case, I am an asst mger after 1 yr of exp.

Wow. May I know where you graduated from and your prior work experience? Thanks in advance..

hi, im a recent banking and finance graduate with no prior experience in banks. Can anyone advice me on how and where to apply for jobs in compliance, AML sector? as of of the job requirement stated all require some sorts of experience in compliance, AML, banks..

Thanks in advance.

Originally Posted by Unregistered

Wow. May I know where you graduated from and your prior work experience? Thanks in advance..

Starting corporate title for HSBC (deg holders,freshies) - Asst mgr. Ultimately, it all comes down to the pay package and responsibilities. In my dept there are analysts drawing 5ish (with about 4yrs xp) but the things their doing are diff from the typical "analyst" work..

Originally Posted by Unregistered

Starting corporate title for HSBC (deg holders,freshies) - Asst mgr. Ultimately, it all comes down to the pay package and responsibilities. In my dept there are analysts drawing 5ish (with about 4yrs xp) but the things their doing are diff from the typical "analyst" work..

Is there a progression "plan" for the analysts in your department (drawing 5ish ones) or its gonna be status quo for the foreseeable future?

Originally Posted by Unregistered

Is there a progression "plan" for the analysts in your department (drawing 5ish ones) or its gonna be status quo for the foreseeable future?

the associates are drawing about the same as those "analyst" who r drawing in the 5s range. And the progression plan is slightly different for them as they r double hatting different job roles. That is - they actually have another reporting line or also known as another boss in other dept to report to (related to the technology side). Which means their appraisals will be done by 2 different bosses (my dept and the other dept).

But i guess they are okay with the current status quo (only 2 of them in total) , the managers really give them a lot of freedom. Our work hours r really flexible plus all the perks they get, i doubt they'll be moving any time soon

How is the day - to - day life of a kyc due diligence ops analyst like?
And how do people get into the job in the first place?

Originally Posted by Unregistered

How is the day - to - day life of a kyc due diligence ops analyst like?
And how do people get into the job in the first place?

mainly you would be handling account openings by RMs. Every quarter/month there would be samples picked for periodic reviews. Other ad-hoc duties will include answering compliance queries by front office people and clearing alerts generated by system.

people get in via different routes. Some join straight after graduating in perm roles (previously had intership done with compliance dept). Others join as contract staff assisting in kyc/aml procedures (eg. background checks) before getting converted. The rest join from different functions like ops, risk mgmt, IA or even external audit.

hope it helps