How to start at a Bank!

Hello Casie,

Noticed you switched your discipline of study from a biomedical science course to majoring accountancy for your degree. What made you steer to accountancy instead?

I suppose your ongoing job now as an account assistant is riding on the back of your accountancy degree? Ever considering an auditing track with SMEs?

[Cassie]

Yes I took science when I was younger and more naive. But it does not pay the bills well hahaha! Thank you for taking the time to give me your advice. It makes a lot of sense ^^

Originally Posted by Unregistered

Dont quit your job because after reading ur background, it will be hard to get accepted into the banking industry as of now.

Firstly: You are unsure of what you are going to achieve. Medical Tech to assistant accountant. You also mention you want any job in banking industry?!

Secondly: You dont have experience in banking industry.

So, what I can suggest you is that look at the possible roles in banking industry to see what you want to do. Then apply for the specific job, like that your chance will be higher. Because even if you get into the interview, the interviewer will confirm as about your understanding of the role and etc. Then they will conduct assessment to see whether this job is suitable for you.

Second this! Please don't enter this self-perpetuating cycle of leaving your job to focus and hunt the role you are after. Never do that. Follow what this poster has suggested. It's good advice!

[Cassie]

To be honest my Accountancy degree results are just mediocre. I heard to get into Audit, I need to have top scores?

Originally Posted by Cassie

It probably maybe, but at least I'll be doing something I enjoy, and in a central location
Also banking experience is worth a lot on my resume

How do you know that you will enjoy banking when you have no experience?
also... many BO positions are not centrally located.
how is banking experience worth a lot on your resume? do you mean that you are attracted to the high salary?

[Cassie]

I have always wanted to work in a bank since my uni days! The only reason why accepted my current job is to earn enough skills and experience for a bank to consider me. Didn't know most banks don't count it as relevant experience :C

No matter how non centrally located it is, it's nearer than Jurong Island hahaha! Even Changi bizpark is quicker to travel to (I live in the west).

When I say Banking experience is worth a lot, I mean hiring managers like to see it. So any kind of banking experience can open more doors in future.

I'm actually trying to get into AML/Compliance so I'll do anything to get any Banking exp, just so I can aim to apply for AML later.

You mentioned your accounting grades are mediocre. So why would you want to join a bank, where numbers and figures are not your forte? You just want to join a bank, despite having high probability of not performing well? In any case, the glamour of a banking job is like moth to fire.

Word of advice. Try going into companies for finance roles for at least 2 - 3 years experience, before applying for a job in the bank. You seemed to be confused about what you want, only knowing you want to enter the banking industry.

likely u are rejected due to no relevant exp. AML doesnt need accts exec exp. Your accts exec exp will be more suited to an accting role.

advise u to take a look at the requirements, here is an example for citi: ://jobs.citi.com/sg/singapore/anti-money-laundering/jobid7874780-ot-anti-money-laundering-(aml)-operations-analyst-jobs

relevant ones that u dont have are:
Minimal work experience required in Operations environment, willing to learn attitude

Knowledge of AML laws and regulations

Demonstrated ability to perform detailed analysis of raw data based on policy and work instructions

[Cassie]

But I'll be so old when I enter the bank :x! haha!
Thank you for your advice.

Meh, a number of schoolmates I have that did worse than me are happily in banks/FI because their daddy play golf with the chairman kind
--

[Cassie]

Hey there!
I know I'm lacking in the AML field so I've undertaken the ACAMS foundation course with the intention of doing the ACAMS certificate, only they need work experience/credits to enable me to sit for the exams. Also, I'm collecting credits through webinars, but I'm hoping to get some credits from work experience, as the webinars are about US$300 per session.
I've got a chicken and egg issue :x