Compliance Roles at Banks Forum

[Anonymous User]

Can people who have worked or currently work in compliance roles at banks please chime in and discuss their experience?

I follow some people on linkedin and see that career trajectory looks pretty decent with people moving up quickly (2-3 years) from roles like VP to Deputy head, to global head in groups like financial crime compliance, sanctions, or AML, etc.

Is the job pretty chill 9-5? Do you enjoy your work? What does compensation look like?

I know that leaving big law to a job like this probably means the end of your legal career, but I wasn't that thrilled about practicing anyway.

[Anonymous User]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

[Anonymous User]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

[Anonymous User]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

Thanks for the reply. Where did you end up going? One of my friends had a position and ended up going in house to a big bank (BoA, Wells Fargo).

As for more details, it's an investment bank in NYC. Think Morgan, Goldman. VP position.

[Anonymous User]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

Thanks for the reply. Where did you end up going? One of my friends had a position and ended up going in house to a big bank (BoA, Wells Fargo).

As for more details, it's an investment bank in NYC. Think Morgan, Goldman. VP position.

I'm at a firm now.

Wouldn't surprise me if they offer around $120k, though that'll likely depend on your experience. Bonuses are okay but nowhere near firms. No billables, likely 401k matching, health insurance is middling across the street, as far as I could tell.

The more removed you are from the business, the easier the hours (in my experience) but I think those were the jobs most at risk of downsizing or moving to cheaper locales.

[Anonymous User]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

Thanks for the reply. Where did you end up going? One of my friends had a position and ended up going in house to a big bank (BoA, Wells Fargo).

As for more details, it's an investment bank in NYC. Think Morgan, Goldman. VP position.

I'm at a firm now.

Wouldn't surprise me if they offer around $120k, though that'll likely depend on your experience. Bonuses are okay but nowhere near firms. No billables, likely 401k matching, health insurance is middling across the street, as far as I could tell.

The more removed you are from the business, the easier the hours (in my experience) but I think those were the jobs most at risk of downsizing or moving to cheaper locales.

Any chance I'd be able to PM you? Not OP, btw. Thanks.

[Anonymous User]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

Thanks for the reply. Where did you end up going? One of my friends had a position and ended up going in house to a big bank (BoA, Wells Fargo).

As for more details, it's an investment bank in NYC. Think Morgan, Goldman. VP position.

I'm at a firm now.

Wouldn't surprise me if they offer around $120k, though that'll likely depend on your experience. Bonuses are okay but nowhere near firms. No billables, likely 401k matching, health insurance is middling across the street, as far as I could tell.

The more removed you are from the business, the easier the hours (in my experience) but I think those were the jobs most at risk of downsizing or moving to cheaper locales.

Any chance I'd be able to PM you? Not OP, btw. Thanks.

Come up with a name and I'll pm you.

[Yugihoe]

Think I am OP on this (but can't remember since it was December).

Mind PMing me? Curious about the juniors you knew in these roles. Is 120k for big law juniors (i.e. 2nd-3rd years?) and before bonus. What's the trajectory and income growth for people advancing up to VP and Director (which seems to happen relatively quickly).

[CardozoLaw09]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

Thanks for the reply. Where did you end up going? One of my friends had a position and ended up going in house to a big bank (BoA, Wells Fargo).

As for more details, it's an investment bank in NYC. Think Morgan, Goldman. VP position.

I'm at a firm now.

Wouldn't surprise me if they offer around $120k, though that'll likely depend on your experience. Bonuses are okay but nowhere near firms. No billables, likely 401k matching, health insurance is middling across the street, as far as I could tell.

The more removed you are from the business, the easier the hours (in my experience) but I think those were the jobs most at risk of downsizing or moving to cheaper locales.

Any chance I'd be able to PM you? Not OP, btw. Thanks.

Come up with a name and I'll pm you.

Done

[Anonymous User]

Thread bumper here.

Can the info not stay solely within PMs? There's already a dearth of info. It would be beneficial if you could sanitize the info and put it in the main thread.

I'm also curious about interviews, etc. I'll post my experience here for others when I have something to report.

[westphillybandr]

bump

I have an interview with an investment bank for a compliance position. Currently a financial fraud litigator. Love the work but looking for a change of pace. If I receive an offer, what sort of exit options do these jobs offer? Can I move around within the firm? I don't want to box myself out of future opportunities.

Also, what's the day to day like? Hours? What sort of salary should I expect?

I was in compliance for several years at large bank - I can only speak to my personal experience (and I am much happier having left).

• Exit options: Same work at a different organization, regulators, consulting, probably some in-house (though I didn't really see it)
• Internal movement: Maybe? Likely depends on how senior you are. I do know people who moved around, but they were very junior - I think you had to stay in any position for six months before you could transfer. It's also a pretty small world, so I strongly recommend against burning bridges.
• Day-to-day: Depends A LOT on your group. Some are very much 9-5, work from home a few days a week, etc. Others have long hours and can be stressful.
• Pay: Depends a lot on the bank, location, and level. I've got guesses if you want to get more specific...

TL;DR: A friend and I agreed that it would be a great job if we were 45ish and wanted to focus on family etc or retire in situ.

Thanks for the reply. Where did you end up going? One of my friends had a position and ended up going in house to a big bank (BoA, Wells Fargo).

As for more details, it's an investment bank in NYC. Think Morgan, Goldman. VP position.

I'm at a firm now.

Wouldn't surprise me if they offer around $120k, though that'll likely depend on your experience. Bonuses are okay but nowhere near firms. No billables, likely 401k matching, health insurance is middling across the street, as far as I could tell.

The more removed you are from the business, the easier the hours (in my experience) but I think those were the jobs most at risk of downsizing or moving to cheaper locales.

Any chance I'd be able to PM you? Not OP, btw. Thanks.

Come up with a name and I'll pm you.

Any chance you could PM me as well?