Financial/Regulatory compliance career pathing

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lateregistration
Posts: 22
Joined: Fri Jun 23, 2017 10:41 am

Financial/Regulatory compliance career pathing

Post by lateregistration » Sat Jul 28, 2018 12:09 pm

For the last five years, I've managed an operations team in a mutual fund client support center. My parent company is a megacorp, but I'm stuck in a low-growth position. To advance my career and earning potential, I've been looking at ways to use my experience and skillset to transition into another role. While I'm open to different career paths and industries, it's finally started to hit me that there's a related area that I find interesting, challenging, and happens to pay well and have tons of opportunities. That would be some type of compliance role, be it AML, CDD (customer due diligence), etc. My employer hires for these positions several times per year, the only problem being that the roles are based in other geographic locations (we have several offices throughout the country). I've been told that they generally like to hire with the expectation that the person will be present in the local office for 6-12 months before being given an opportunity to work from home part or full time. Moving to another location is a risk for me, and also would incur a lot of expenses, which I'm hesistant to take on. Still, it seems like this might be something that I need to consider. Nothing risked, nothing gained.

Aside from that, I'm curious if anyone has any advice or experience in compliance/regulatory roles. It seems like the CAMS certification is the gold standard and, if I achieve it, would put me in a good position to land a job in banking and/or at another financial services firm. Are there any other certificates that are worth pursuing? My current plan is to reach out to a few people in compliance roles at my company and ask if I'd be able to pick their brains and potentially set up a mentor relationship. If I volunteer to assist them with related work, it'd be something that I can add to my resume, as well. Combined with a certification, I think this might be a relatively inexpensive way to get myself some specialized training and provide me with more opportunities.

Any tips or advice would be appreciated.

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