Regulatory reporting - exit opps?

Hi,

WSO - seeking career advice.

My ultimate goal is to work in a wall street firm (even a little boutique firm would be ok).

My background is as such:

Ridiculously crappy school---> graduated in accounting --->work at a mid tier CPA firm as an auditor (not Big 4)

Due to my language skills a recruiter from a reputable global Asset Management company has reached out to me for a regulatory reporting role.

1) What can I expect from this role?

2) What exit opportunities are there?

I'm well aware that risk/regulatory/compliance is a "hot" field in banking/finance middle office right now, but I'm not sure (literally speaking - not saying I would hate it) I want to be a middle office guy.

But I see my current audit profession as a dead-end job, especially since I wasn't able to secure a Big 4 offer.

FYI, I'm in Hong Kong, so there are finance opportunities abound, but non-Big 4 auditors really get no respect.

Can someone please tell me about this middle/back office role "regulatory reporting"? What are the chances of lateraling later on?