Compliance

Have a family friend who was high up in Legal of a bunch of BB's. He is really pushing me to go into Compliance. What are some exit ops of compliance, benefits of being in compliance? He says very steady career, get certs and become an asset. My worry is that its ancillary, don't generate business= no bonus--> stuck in compliance.

 

Definitely at the wrong place, bonus and salaries have going up quite a bit for compliance professionals. You might receive less of a bonus or none if you are in the operations end of compliance or outside of NYC (not sure if this applies to you).

 

Haha not even NY, I don't think my location helps, using this cost of living calculator, after bonus and salary I apparently make the equivalent of making ~$145,000 in Manhattan or ~$110,000 in Brooklyn. Know someone who has moved up in Compliance at a major bank in Chicago and is probably around there easily I am sure. Not going to complain right now though.

 

Hey, I have a similar question~ but could you like to share some tips about interview? well, I will have a first round coming up at an asset mgt firm in its compliance office. Honestly speaking, I am not very clear about what I need to demonstrate and more importantly how I could organize my self-introduction better. Expect for your reply and others' comments

Thanks to you all

 

I would think FINRA, the SEC, or the Fed. All are "prestigious" government agencies to work for. Getting a federal job can be tough though. Relatively small sample size but of my network from college (state school) only a couple ended up in good agency jobs, and I know more than that were interested. None work in compliance they are in other agencies (state department, homeland, etc..)

 

Probably hard to get a front office position at the PE firm since you don't have other front office experience. Your best bet is to use the prestigious name on your resume to get interviews through on-campus recruiting. You can also try to use the network of people at your firm to help you get interviews at banks, but this may be looked down upon if the PE firm is planning to bring you on full time. That is the big question here- is the internship supposed to lead to a full time position in compliance?

Bottom line- try and stress your research and familiarity with the industry to get full time interviews other places. Other than that, you don't really have the skills but there is always time and training still for that.

 

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