| Unregistered |
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Originally Posted by Unregistered
Risk has already been outsourced to India. Unless you are senior management, it's a matter of time.
Certain parts of compliance/aml may be offshore to lower cost location but certain aspects of it, can never be offshore. You just need to make sure you are in the right area.
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All functions can be offshore lah, just whether India can do it and at what price. 5 years ago everyone also say system security audit is 100% safe, now my bank already more than 2/3 of audit headcount to India, only a matter of time before all the low to mid level gone.
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| Unregistered |
Quote:
Originally Posted by Unregistered
How much is risk analyst paid in foreign bank like HSBC or Citi? How long it take to reach SVP and what is SVP pay level?
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I find it annoying to see a question like this posted online. To become a SVP (or VP, or AVP or Director or Managing Director) is never a question on how long you are doing a job, but really how outstanding is your performance. I have seen individuals becoming SVP before they hit 35, and I have seen individuals at their 40s who remained at AVP level. At a junior level (sometimes even up to VP level), all you really need is to be hardworking and technically strong in what you are doing. However, as you progress with your career, you are expected to acquire different skills (one of them is to manage millennials like those who ask such questions on this forum).
You have to imagine, when you are a student, the study curriculum is provided to you, so as long as you study and pass, you moved to the next stage. This is similar in work as well, again, up to a certain stage/level, varying from company to company. Beyond this stage, you become the person who have to design the curriculum, because you have a team to manage, and ranging from someone who is fresh graduate, to experienced graduates in their late 20s to 40s, and even 50s. How are you going to design a curriculum, to cover this wide spectrum of individuals, to ensure that they remains reasonably happy with their job load, satisfied with their career path and continue to deliver as you expects them to be? Some people can do it better, some people takes a long time, yet they are still not able to accomplish it.
This, only refers to the team of people you are managing, which plays only 1 part to the entire formula. Beside that, you also need to manage your peers as well as your seniors. How do you prove that you (and your team) is performing better than your peers (other teams) or at least ensure that your team are reasonably compensated? How do you balance the expectations of the seniors, who wants more work to be done, with lesser headcount, and smaller budget? How do you tell your team, that they are not putting in enough effort to get work done, yet at the same time threatens to leave for another bank, because there are always jobs outside? These are real examples of situations that you would need to deal with, once you progress in your career path.
How well and how fast you can figure out this balancing act, will be how long it takes for you to be a SVP, or even higher. Pay wise, there are some SVPs who earns $150,000 pa and there are some SVPs who earns $300,000 pa. It is not a straight formula, but how outstanding you are, that ultimately determine your remunerations.
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