Ask A Headhunter!

[sonaoption]

Hi HH,

How will you see the market for regulatory compliance officers.

Is it easy me to enter as a fresh grad?

How is the demand and prospects, at present and near future, for regulatory compliance compared to other specialisation such as AML KYC?

What is the exit plan for me after that?

Thanks!!

 

[Xlandergugo]

Hihi HH,

What do you think of the physical commodity industry in Singapore? I've got a position in being a junior risk analyst in an agricommodity company. I can't wait to start but i would like to know how I can progress from here and what to expect in order to further develop myself in the industry. I've heard that some make it to become traders too, though I'm more keen in risk management. Any advice will be greatly appreciated, thank you!

 

[jobseekerphsg]

Are there chances that Foreign Applicants get hired here in SG?

 

[darkhorizon]

Hi Headhunter,

Thanks for setting up this thread, I just found out this thread not long ago. I hope to have a few questions answered in regards to the below.

01) Which Headhunter/Recruitment Firm should I consult if my monthly salary is around $5k? I work in the Banking Industry.

02) As a lot of forum posters have stated their interest in the Compliance Roles and seeing a rise in these roles, particularly in the KYC department. Do you think going towards the AML/CFT roles instead of the KYC roles would be better strategically? Putting yourself in my shoes, which would you have chosen?

03) I believed you might have placed a few candidates in KYC and AML positions before. Are they happy with what they are doing? What are the day to day processes like for an AML officer?

04) Besides the KYC/AML/CFT roles which are common in the Compliance field, what other roles are available in relation to Compliance in the Banking Industry?

Thank you.

 

[Shion]

Lots of hiring in selected functions, a lot of clients i work with are increasingly only asking for Singapore citizens (even the large multinational banks)

I see...So it seems like a good timing to change job after all ?

 

[Ask A Headhunter]

I do apologize for the delayed replies.

Extremely busy at work.

 

[Ask A Headhunter]

Hi HH,

How will you see the market for regulatory compliance officers.

Is it easy me to enter as a fresh grad?

How is the demand and prospects, at present and near future, for regulatory compliance compared to other specialisation such as AML KYC?

What is the exit plan for me after that?

Thanks!!

Demand for AML is definitely more, but in the long run, salaries for regulatory compliance will be higher (provided you have a minimum 10 years experience in regulatory)

Regulatory work is VERY dry (you need to enjoy reading, a lot, like really a lot). Entry level wise definitely easier to enter into AML (banks are hiring these people like crazy even at fresh grad level)

The thing you also have to differentiate is, not every bank has their AML function under compliance (it might be under operations)

Regulatory work is also often more dangerous, because the work is in black and white (either you are right, or you are wrong, so you better be sure 100% you are right based on facts)

AML work is often 80% grey area (you can win the argument even if the facts are not right)

 

[Ask A Headhunter]

Hihi HH,

What do you think of the physical commodity industry in Singapore? I've got a position in being a junior risk analyst in an agricommodity company. I can't wait to start but i would like to know how I can progress from here and what to expect in order to further develop myself in the industry. I've heard that some make it to become traders too, though I'm more keen in risk management. Any advice will be greatly appreciated, thank you!

It is a very volatile industry, with great prospects with great bonuses (when times are good)

If you are more keen to do risk management though, might be better to go to a bank in the long term (simply because there are more openings)

 

[Ask A Headhunter]

Hi Headhunter,

Thanks for setting up this thread, I just found out this thread not long ago. I hope to have a few questions answered in regards to the below.

01) Which Headhunter/Recruitment Firm should I consult if my monthly salary is around $5k? I work in the Banking Industry.

02) As a lot of forum posters have stated their interest in the Compliance Roles and seeing a rise in these roles, particularly in the KYC department. Do you think going towards the AML/CFT roles instead of the KYC roles would be better strategically? Putting yourself in my shoes, which would you have chosen?

03) I believed you might have placed a few candidates in KYC and AML positions before. Are they happy with what they are doing? What are the day to day processes like for an AML officer?

04) Besides the KYC/AML/CFT roles which are common in the Compliance field, what other roles are available in relation to Compliance in the Banking Industry?

Thank you.

1) Too subjective, you must also state what is your job scope specifically.

2) Strategically, it will be good to do more AML rather than KYC in the long run (specifically FCC which stands for Financial Crime Compliance)

3) Candidates are never happy no matter which company they go to. Cos grass is always greener on the other side

4) Trade surveillance, Regulatory Compliance

Do note that AML roles are subjective, cos in a bank, they are further broken down into AML specialist (Corporate banking, or investment banking or private banking, or asset management, etc)

To sum it up, think of AML as a pie chart, and KYC is like 30% of the pie, there is also fraud (10%), AML advisory (20%), transaction monitoring (20%), sanctions (20%), all 5 parts form the full 100% of AML

 

[lovesick009]

why EMFA so tough ~~ i'm having my test on thurs~

#askaheadhunter

 

[Litmuss]

Just want to ask what will be the career progression like for AML compliance when one did Post-transaction monitoring (backend) and real-time screening (front end)?

 

[ping56]

hi, I am a fresh grad who has gotten a job in risk management in a oil trading firm. the pay they r offering me is very good (more than 4k), but Im wondering how well r the prospects? have no interest in being a trader.. would prefer to remain in risk management area.. the job includes counterparty risk, market analysis and execute hedging... is this a job with areas for growth? starting pay is good but I am not sure if this is the market rate, and if it is sustainable in the long run (being above average). have been googling around and realise a credit risk role isnt being paid as much me. a few years of experience is required to reach 4k plus.. I am glad that I am lucky but I am also rather doubtful about my future career path...

 

[Shion]

Difficulties finding a job now due to inadequate experience. How to convince the potential employer that I can do it?

 

[VerVe]

Anyone in credit suisse IT? Got recruiter looking for engineer. But I see their linkedin profiles like all **** outsourced

 

[Ask A Headhunter]

hi, I am a fresh grad who has gotten a job in risk management in a oil trading firm. the pay they r offering me is very good (more than 4k), but Im wondering how well r the prospects? have no interest in being a trader.. would prefer to remain in risk management area.. the job includes counterparty risk, market analysis and execute hedging... is this a job with areas for growth? starting pay is good but I am not sure if this is the market rate, and if it is sustainable in the long run (being above average). have been googling around and realise a credit risk role isnt being paid as much me. a few years of experience is required to reach 4k plus.. I am glad that I am lucky but I am also rather doubtful about my future career path...

Risk market is always fairly stable compared to compliance, with pay rises also mostly less than compliance roles

And the work you often do in risk is fairly transferable, unless the FI asks for specific product experience, which can be picked up fairly easily unless you are applying for a senior role, of which the will then expect you to already come with that knowledge.

Difficulties finding a job now due to inadequate experience. How to convince the potential employer that I can do it?

Assuming you are fresh graduate, do you have any specific achievements?

Also be open to contract roles, some might be able to convert to perm in the long run

 

[ping56]

Risk market is always fairly stable compared to compliance, with pay rises also mostly less than compliance roles

And the work you often do in risk is fairly transferable, unless the FI asks for specific product experience, which can be picked up fairly easily unless you are applying for a senior role, of which the will then expect you to already come with that knowledge.

Thanks for the reply! Do you know how much is the average increment for risk? was surprised to see some job ads offering low 4k plus for credit risk with around 3 years of experience... that got me pretty worried. I hope to move to market risk eventually as I have a quantitative msc degree. Do you think if its possible for me to hit 90k pa excluding bonus with 5 years of exp? im dealing with energy market.. are there any opportunities to FO other than being traders?

 

[Firexxgun]

Hi headhunter!

Is it still possible to find a job at 60 yo?

Recently my uncle is in retrenched list because of his age.

He's been with that company for 20 years. He's in offshore industry.

What kind of job can he get at his age?

Thank you!

 

[TUV2008]

In before firexxgun=uncle

 

[lifeishard]

hi, can we insist on not revealing our last pay or give interviewers our last pay slip? Why can't they do it at the stage of background check. Whether ex employers give or not, i do not care.

This asking of last pay is simply a way to low ball you, and a breach of personal privacy..haa..really wonder why government allows this when at the other end they implement the PDPA. As if these companies will burst their budget if my last pay is more than their given budget.

MOM should really step in to put a stop on this practice.

 

[xxslayer]

hi Mr Ask The Headhunter,

I am very interested in the compliance industry however my degree is totally not related to finance. It is a drastic career change. I have graduated from uni for about 1.5 years. Do you think i will stand any chance say i enroll for ICTA certs/dip?