2018 expected salary ranges for compliance professionals in Singapore ranging from analyst and non-officer roles to director and senior director.
|Role||Analyst/ Non-Officer||Associate/ AVP/ Manager||VP/ Snr Manager||SVP/ Director||Director/ Snr Director|
|Monitoring and Surveillance||$40k - 100k||$90k - $150k||$130k - $190k||$170k - $230k||$230k - $300k|
|AML||$40k - $90k||$70k - $150k||$130k - $190k||$170k - $250k||$230k - $320k|
|kYC||$40k - $60k||$55k - $70k||$70k - $140k||$130k - $200k||$180k - $220k|
|Control Room||$50k - $70k||$65k - $160k||$150k - $200k||$180k - $300k||$260k - $300k|
|Compliance Advisory||$60k - $90k||$90k - $180k||$160k - $230k||$180k - $260k||$260k - $310k|
|Investigations||-||$60k - $120k||$120k - $180k||$180k - $250k||$200k - $300k|
Commentary on Compliance Roles and Remuneration in Singapore for 2018
In 2018 we anticipate compliance recruitment to continue the trend of steady growth that we saw in 2017. A number of financial institutions are growing their compliance teams especially within financial crime compliance. Increasingly, financial institutions are looking for their employees to specialise within specific areas of compliance as compared to the more generalist roles we saw in the past.
Due to the tightening from the various government regulators globally, as well as a low supply of qualified candidates, compliance recruitment has been highly competitive with multiple employers vying for a limited pool of experienced candidates. As such, salary levels can be competitive even in this tight employment market. Candidates with relevant experience can expect a 10-15% increase when they moving roles.
Across financial services, we have seen companies giving 4% to 6% internal increments to employees and decent variable bonuses which is a good indication of the compliance recruitment market. As the demand for compliance professionals picks up at a steady rate, employers are taking a wait and watch approach.