![]() |
AML/Compliance/KYC professionals come in!
Hi all,
I've just graduated recently and got offered a AML role with a foreign bank. I'm just wondering what are the possible routes down this path? I heard compliance advisory is where the money are as banks are willing to pay a lot to get experienced ppl into this area and even digging ppl from CPIB/CAD over( true?) I'm 25 this year, the AML role that i will be taking on focuses on regional corporate banking around APAC. I'm aware that AML transactional related knowledge is the pre-requisite for compliance advisory. How long do i have to slog before i could make the jump? Some of my friends were telling me to hop every 1.5-2yrs at 20% increment each time ( is this even possible?) Will having a ICA accredited diploma help boost my marketability? What sort of progression timeline am i looking at? I wish some of the veterans in the finance industry could shed some light / or share their experience :) Thanks Daydreamer |
can become lawyer or part of the legal team some day. everyday pour over policies and run background checks of clients. then inform authorities if saw suspected accounts. good prospects since regulations are tightening everyday.
|
Compliance role is raising in promimence in past few years.
Even lawyers are switching from legal to compliance these days Vp now starts at 200k, executive director 280k. A freshie can reach there in 10years time, good luck! |
Quote:
|
Thank you all for sharing the information.
Realistically, what sort of position/package should i be looking at after 3-4years of working in the area of aml/compliance. My starting pay is not that fantastic.. its just high 2s where some of my fresh grad peers entering ops i.e settlements are getting low 3s as their starting pay.. I guess i shouldnt be complaining that much where the job market is pretty tight atm and i have a perm role offered to me...I just kept telling myself i am here to learn and grow though i honestly am not optimistic about the outlook of the bank i am going to be working for, just that the exposure provided is what i want... |
Quote:
|
Quote:
This really perks my interest. Any veterans could share how is the salary progression like ? Is it better to hop around, say, every 1 to 1.5year? I've spoken to a few recruiters ( from Hays,RW,MK,etc) and i found that the package I've accepted is way below market rate !(partly because the bank is in a bad shape recently coupled with the fact that I have just a few months of KYC/AML experience from contract work) The only consolation is the exposure that I will be getting. (Corp banking)... I know that i sound a little bit impatient but i just want to have a clear goal that i can work towards to. And constantly remind myself never to let those evil HR eat me again... |
AML roles
Quote:
|
Quote:
I thot JPM already have a existing aml monitoring unit in SG? A aml hub in changi? I suppose that will be their dedicated surveillance centre. But increment of 100+ headcounts? I guess mainly are for contractors ? |
JPM at Changi
100+ seats in JPM Changi are set aside for both contractors and employees. The long and short of it is that they need folks and have been interviewing candidates. PM me if you want the phone number of the hiring manager.
|
If you have 3 or more keywords in cv, you r in high demand - AML, anti-tying, sanctions, anti-terrorist financing, dodd frank, fatca, volcker, ISDA, resolution&recovery, cftc, emir, basel, cad2.
Starting pay for Analyst 50 Associate 80 AVP 120 VP 200 ED 300 MD 500 To progress each stage, just dont screw up and clock in the hours. Be diplomatic to front office but firm in dealings. I reach ED 300k base last year at age 34 after 10years , good luck |
Quote:
Analyst 60 Associate 120 AVP 200 VP 300 ED 500 MD >600 |
Quote:
|
Quote:
|
i graduated with sim uol degree in 2003 during sars, started a 30k contractor reviewing deals in control room as part of chinese wall, move to perm AML role, then jump to private bank 100k for KYC and data privacy compliance, followed with internal mobility to join commodities trade finance compliance, then front office compliance for commod desk, last year move to tier 1 bank as SVP to run a team on compliance assessment with base 350k + 100k bonus.
|
Quote:
|
Can I ask with all the job listings around looking for at least 5 years experience in AML position, how does switch to a career in AML. I have an engg degree but I'm currently doing a diploma in AML, but I'm not sure what are the better options for me to venture into AML.
Any advice are appreciated. :) |
need advice
I also want to find our more about aml and compliane jobs. I have accepted a compliance executive job in a local insurance company, but just got an offer of a AML role in a big foreign bank. Both offer the same basic salary, I dun know which one to choose.
My end goal is to do compliance in a bank. is it easy for me to change from insurance company to banks after a couple of years? or should i take this AML job, but would it be too specialized alr? pls advice, many thanks! |
I see some big numbers here, not sure how accurate it is though.
Anyways ! reviving this dead thread - Some bckground introduction: I am currently in my mid 20s, holding on to a AML job under my bank's grp compliance doing trade finance (sanctioned elements related,pre-approval of cross border transaction,etc) , transaction monitoring assessment for corporate client's acc and AML controls of payments pertaining to markets products(FXMM etc) and corporate client's management screening plus probably will pick up some "KYC-onboarding skills" and data mining via SQL along the way. Basically, "bao sua bao hai" doing everything. This is my first job but I am severely underpaid. Was looking around and asking some recruiters and senior colleagues, I should be getting somewhere near mid low to mid 3s as a freshie. Unfortunately, I am being paid only in the high 2s. My first month into the job, i kept getting calls from various recruiters / other banks which i've applied long before, saying that they could pay better 15~20% more of what im drawing currently provided I am accepted. I didn't bulge becoz i see extra value in the things im doing/learning now compared to the stuffs I will be doing had i been accepted into those jobs. Fortunately (or unfortunately?), my manager and other indirect line managers are aware of this issue, and my direct mgr said he would push for a review of my package subjected to HOD and HR approval as it is too much of a disparity compared to other staff in our team. Other manager advise me to start jumping after gaining a full year of experience if the review fails i would probably get a measly 3~5% base increment. (if the review passes, my pay should be adjusted upwards by 20% which is the norm bracket). I don't know if i'm stupid or what. If I were to jump, which would be in early 2015 i guess? almost 1-1.5yrs of exp, can i be looking somewhere around high 3s or low 4s with all these things that I'm doing now? Sorry for the lengthy writeup |
Quote:
VP Compliance Officer ? Investment Bank ? SINGAPORE | Recruit.net Thanks for the info. I would like to check is the experience gained in CPIB valuable for career in AML compliance? |
hot compliance jobs
Hi,
I hear that the salaries in compliance are going through the roof. VPs can command as much as 300k after just 10 years of experience. Can someone kindly connect me to headhunters who specialise in such jobs? Thanks, Jasmine |
HSBC looking for financial crime professionals
Hi,
HSBC Singapore career page is full openings for Financial Crime staff. Does anyone know which headhunter to approach for these? Thanks, Jasmine |
Quote:
|
bump for more bros and sis that r in this field
|
i saw a few posted high salary for this position but so far the agents who contacted me only offer 2.5k or 2.6k for contract position. is this the market rate??
|
who are you kidding?
monthly salary of 3k? Is this a joke?
For 3.3k, one can't get even an EP. I think even admin assistants are drawing more than 3k these days. |
Quote:
|
Are there people in these role who can shed some light into it?
I realise there isn't much information about these roles but I saw plentiful of jobs advertisement hiring kyc analyst etc. what are the exit opportunities like? By the amount of job advertisement, I'm thinking aml area is easier to get in rather than regulatory compliance roles?? What are the chances of moving from aml to other areas of compliance? How is the pay for aml analyst? |
Aml a lot of opportunities these days.
Every job agency are looking to fill up these positions Job scope deals mainly with gathering/screening names after names with program. Any problems got to raise up to general compliance Also there days a lot of offers on fatca. Haha. All banks are rushing to implement fatca |
Quote:
Should get at least 2.8 or 3 nowadays imho... |
Quote:
a couple of years down the road you will realise you cant change jobs as frequently as you did when u just starting your career |
Quote:
I also feel that it's better to start from something that I want to do in the future too rather than keep changing but so far no luck in this. So I'm thinking to try out aml and make it my career, but again, I'm concern about the prospects. |
Quote:
|
5028
Quote:
|
Quote:
|
Quote:
Anyway the figures below are based on my own experience: Analyst/Officer/Associate 40k-60k AVP 60k-120k VP 120k-180k D 180k-240k MD 240k+ |
How best do I do a career switch into AML when all the job adverts requiring at least 3 years experience? I almost completed my ICA dip in AML though. But everyone is looking for some form of experience.
|
Quote:
But is there a difference between AML analyst and KYC analyst for entry lvl? Or they are actually same position with different name? So far what I see is kyc analyst is mainly doing client on boarding, process documents etc How about kyc analyst for remediation project? Is there a difference between a kyc analyst in corporate banking and other areas?? I'm rather confused and there isn't any clear information provided... |
Double check
Quote:
prior working exp before joining banking? |
Quote:
Can anyone who has info on this enlighten us? |
All times are GMT +8. The time now is 06:05 PM. |
Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2