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2017 Compliance Salary Survey Guide

Compliance Salary Guide | 2017

01-01-2017
Submitted by global_admin on Sun, 01/01/2017 - 10:21
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Compliance salaries across AML, control room, trade surveillance, regulatory compliance, general compliance, advisory compliance and more.

Recent levels of hiring in compliance and control have outpaced the recruitment of front office revenue generating staff in Asia. At a rate of 53 regulatory changes everyday in Asia alone, financial firms are increasing their expenditures to cater for the growing workload. These changes added US$ 50 million to compliance costs of financial companies in Asia last year, according to data from Thomson Reuters. 

Compliance Salaries

Role Analyst Associate / AVP VP / SVP Executive Director Managing Director
Head of Compliance * * * 125k - 170k 183k+
Regulatory Compliance 25k - 40k 40k - 70k 75k - 125k 130k - 165k 180k+
AML 25k - 42k 42k - 70k 75k - 135k 140k - 165k 180k+
Product Specific Advisory 25k - 42k 42k - 70k 75k - 135k 140k - 165k 180k+
General Compliance 15k - 35k 40k - 70k 75k - 100k 110k - 130k 140k+
IBD / Research 20k - 35k 40k - 70k 75k - 110k 120k - 150k 160k+
Control Room 15k - 35k 40k - 70k 75k - 110k 110k - 140k 150k+
Monitoring / Surveillance 15k - 35k 40k - 70k 70k - 108k 110k - 120k 130k+
Private Banking Compliance 15k - 35k 40k - 70k 75k - 110k 120k - 160k 170k+
Buy - Side Compliance 15k - 35k 40k - 70k 75k - 110k 120k - 140k 150k+
Tax Compliance 25k - 35k 40k - 70k 75k - 108k 110k - 120k 130k+
Banking Lawyer 50k - 80k 80k - 100k 108k - 140k 140k - 180k 183k+

* Roles do not typically exist at these levels
Note: Monthly salaries in HKD

Commentary on Compliance Roles and Remuneration in Hong Kong for 2017

There has been an increase in compliance-related jobs across financial technology (FinTech). This follows discussions surrounding the Hong Kong Monetary Authority (HKMA) putting in place additional headcount requirements. Hong Kong is also very much up and coming in terms of the growth of compliance across FinTech and is currently in competition with Singapore to become a global FinTech hub. FinTech compliance professionals are required to have strong HKMA knowledge and experience.

Across investment banking, we continue to see recruitment activities in Regulatory Compliance, Financial Crime Compliance, KYC-AML roles, Equities and FICC Compliance roles. Retail banking, Private Banking and Commercial Banking compliance roles are still quite active with a number of clients requesting for HKMA regulatory related experiences.

We foresee mainly replacement roles across compliance for 2017 as our clients continue to outsource some of the operational compliance function to countries like India, Malaysia and the Philippines. However, there will be incremental increase in roles across growth areas, such as FinTech. As always, there will not be much movement in the market until bonuses are paid out in the first quarter of 2017. Compliance professionals are well aware of the current dip in the market and will have expectations for basic salary increments of 15-20% for lateral moves. 

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