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.
Looking online on glassdoor compliance analyst gets a bonus 5 to 20k depending on the firm.
^I am at the wrong company then
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.
Compliance? (Originally Posted: 02/07/2008)
I have final rounds coming up at two BBs in their respective compliance divisions for a summer analyst position...Does anyone know what the salary/bonus structure is like for a 1st year analyst in compliance? Do most in this role go on to law school, b-school, other roles w/n the firm or simply get stuck in compliance?
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
Compliance Career Path (Originally Posted: 03/04/2016)
I recently accepted an offer in the AML/OFAC compliance department at UBS. Having attended a lower ranked school, I'm happy to have a job that I find interesting and that pays reasonably well at all, and I have been trying to chart a career path since my acceptance. I've noticed that most employees above the VP level have some government experience, however given the limitations of LinkedIn it's tough to tell which agency offers the best exit opportunities. There is a great deal of regulatory overlap among the OCC, FinCen, the Fed, and even self-regulators like FINRA. After spending a few years in the private sector, which agency would be best to jump to for a few years to make myself a stronger candidate for top jobs back at a bank down the road? What is the most prestigious government agency--barring the US Attorney's Office--for a financial crimes compliance professional to join?
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..)
How valuable is a compliance position at a well known firm? (Originally Posted: 06/22/2012)
So I've been working at a prestigious real estate private equity firm. My role has primarily been working on compliance, and updating the investment database for the firm as a whole. I understand that the a good name from a RE PE firm is definitely a big boost on my resume. However, I'm more interested as to how valuable the work I'm doing actually is.
As some of you might be aware of, the Dodd Frank Act is requiring all investment advisors that sell securities to register with the SEC. Another requirement is that firms create a CCO "Cheif Compliance Officer" position to be the head of all of it. I'm basically the newly appointed CCO's intern, and his Associate assigns most of the work to me. So far it's been a good experience, but I'm curious as to how the work I'm doing can either be leveraged into a full-time, Analyst position after graduation (1 more year to go), or towards another position at a firm.
I'm also very interested in learning modeling and expanding my excel skills. Most of my work here has been data entry and research.
Any tips, information, suggestions will be appreciated. I'm also on the west coast (LA)
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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