AML/Compliance/KYC professionals come in!

Originally Posted by Unregistered

Wrong info. AVP low end is already getting 7.5k base, his 7.5k is include all the bonus as well. Not comparable. I would say if exclude bonus he is more at the lower end of Manager or higher end of Analyst.

It all depends AVP in which bank/sectors (Insurance, securities, etc). AVP is a very vague title, and in very selected few banks, they are paid much better than most banks.

I am thinking of making mid career switch into compliance. I heard news that Donald Trump as US President may repeal some financial regulations which may lead to fewer jobs in compliance. Hence, is it a wise career choice to move into compliance now?

Originally Posted by Unregistered

I am thinking of making mid career switch into compliance. I heard news that Donald Trump as US President may repeal some financial regulations which may lead to fewer jobs in compliance. Hence, is it a wise career choice to move into compliance now?

If you're referring to the Dodd-Frank Act, it has almost no relations to AML/CFT compliance.

Originally Posted by Unregistered

If you're referring to the Dodd-Frank Act, it has almost no relations to AML/CFT compliance.

Sure. But given that more banks are retrenching, merging or scaling down investment and private banking, would there not be fewer demand for compliance staff ?

Originally Posted by Unregistered

Sure. But given that more banks are retrenching, merging or scaling down investment and private banking, would there not be fewer demand for compliance staff ?

For investment banking and from a broad perspective, of course. Scaling down of the business will result in the whole business line's decreased demand for staffing, not just in Compliance. Having said that, the retrenchment and decreased demand for Compliance personnel in this field is much more gentle compared to many departments.

Private banking is booming right now. There are heaps of my Compliance peers on the CIB side that will jump at the chance to move over to PB. Lots of openings and hirings, albeit they tend to cherry pick candidates with prior experience in PB specifically.

What is the recognised cert for compliance? Eg acams or ica or?

Like for investment, the relevant cert is CFA... what is the standard for compliance?

Thanks.

Originally Posted by Unregistered

This is a manager - AVP pay range. What level are you applying for and which ministries are you working for? You would need to have relevant experiences, for a bank to match your pay.

I'm in a law enforcement agency and looking at an AVP position in AML investigation. Just curious what's the salary range for similar rank and role.

Originally Posted by Skipp

I'm in a law enforcement agency and looking at an AVP position in AML investigation. Just curious what's the salary range for similar rank and role.

It depends on what firm are you looking at. Bigger international banks will pay between $6-$10K for AVP, dependent on your experience. Smaller ones will be lesser.

Originally Posted by Unregistered

It depends on what firm are you looking at. Bigger international banks will pay between $6-$10K for AVP, dependent on your experience. Smaller ones will be lesser.

According to recruitment agencies salary surveys, pay seems to be higher. For Robert Walters, it was quoted as $90k p.a. (majority) onwards for Manager/AVP level.

Anything less than that is under market rate?
Seems like bigger international banks dont pay as well too.

Originally Posted by Skipp

I'm in a law enforcement agency and looking at an AVP position in AML investigation. Just curious what's the salary range for similar rank and role.

Given your law enforcement background, they will most likely offer you the higher end of the salary range of the AVP position. They might also look at your basic. 4years experience with $7.5k all in seems way better than most private sector compliance out there.

Just curious what's the reason for you to want to move out?