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Wife's career outlook?

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Dert42
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Wife's career outlook?

Postby Dert42 » Fri, 29 Nov 2013 1:52 pm

So before we left the USA my wife was working full time with 10+ years experience in the brokerage industry. She has her Series 7, a couple other hard to get licences/certs, and was a principal of the firm where she left.
Her last role was a compliance auditor. She doesn't do the selling, although she has all the certs to do so. She does more of the auditing and making sure people are following procedues, laws, advising people on how to set up the type of accounts they're after etc. The tricky backoffice stuff.

We've been here 5 months now. She's staying at home watching our 2 year old.
She plans to make a 1 month visit back to the states next summer. When she returns from the trip she plans on rejoining the workforce, so she'll have about a 1 year gap in employment. She has a DP. I have a P1 if that matters. I'm on a permanent position on a local package. We have no plans of leaving Singapore anytime soon.

We were hoping her experience and knowledge of the US marketplace would transfer to something nice over here. Her certs are good for 2 years unsponsored.

Anyone have a clue as to her job/earing potential here?

The job I have here was created specifically for me, so I didn't have to do any job hunting or applying. Should she start with a headhunter?
Thanks!

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sundaymorningstaple
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Postby sundaymorningstaple » Fri, 29 Nov 2013 3:22 pm

As she has some time, I think I would start with Linked In, to see if there is any chance of establishing a network. See if she can find any linkages between some of her old bosses and those in the industry here locally as a means of introduction. Getting her info out to the headhunters here also isn't a bad idea, if for no other reason than not leaving any bases untouched.

Dert42
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Postby Dert42 » Fri, 29 Nov 2013 3:44 pm

Unfortunatly (for many reasons) her last place was a small boutique house. I doubt there will be any connections. But I think that's a good idea to start there and I thank you for the advice!

I'm curious is there is much call for experienced USA cert holders here.

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Postby BoroBoy » Fri, 29 Nov 2013 6:28 pm

A buddy of mine got a job in a bank in SG writing the legal documentation for OTC contracts. All of his previous experience and qualifications were from the UK so I expect any international qualifications and experience are accepted for this type of work.

Compliance is a little bit different in that local candidates are usually preferred because they can build up relationships easier with the local government and regulatory entities. In HK and Japan, knowing the local language is usually mandatory but in Singapore because its english there isn't that issue. That being said, in my previous bank I knew of two people in the compliance team that were from the UK so there are opportunities there for non-locals.

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Postby livingontheedge » Sat, 30 Nov 2013 11:25 am

With current regulatory compliance and US GAAP/ISA compliance, I reckon getting a job with the banks will be fairly easy for her.

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Postby JR8 » Sat, 30 Nov 2013 2:50 pm

Dert42 wrote:Unfortunatly (for many reasons) her last place was a small boutique house. I doubt there will be any connections. But I think that's a good idea to start there and I thank you for the advice!

I'm curious is there is much call for experienced USA cert holders here.


Series 7 is like a private client brokers qualification, can't see how that ties directly to auditing or auditing jobs. I suspect there's more mileage in her experience.

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Postby BillyB » Sun, 01 Dec 2013 10:26 am

I doubt that for a compliance role banks would carve out a role, unless of course your wife has skills that are completely unique. If it's standard KYC, AML, third-line of defense audit stuff, you're better off going through a headhunter / scouring the local job boards.

If, on the othr hand, its vetting / writing multi-language, multi-entity, exotic contracts, then that's a different story and there could be opportunities. Although, bear in mind that banks here tend to trade pretty standard vanilla stuff and with most stuff going to CCP's and SEF's, everything is moving to standardisation.

Dert42
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Postby Dert42 » Mon, 02 Dec 2013 8:44 am

She had to get the Series 7 to move on to the more advanced specialized certs.

You guys give me hope though!
Thanks!

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Postby Girl_Next_Door » Mon, 02 Dec 2013 2:30 pm

There are ALOT of demand for Compliance / AML role, and here are my proposals:
- Update your linkedin profile. Add a few recruiters, and they will start contacting you. Take your time to pick your job as there are ALOT out there. Don't be worried that she won't find a job. It is much more important to find the right job than finding any job.
- Bear in mind that SCB & JPM have received consent orders, so they are the biggest recruiter out there, at this point of time. Ask where is the working office, as one of the big names have moved the entire regional team to CBP.
- Personally, I work for one of the american banks, so there is a significant amount of flexibility such as working from home, or working offsite (wherever there is an office, I can generally work out of that office). That might be a factor for your wife to negotiate when she is looking for a job (i.e. the ability to work out of NYC office or sort when she is traveling back home).
- Bear in mind that a lot of the IA jobs involves a significant amount of traveling. This might not be ideal if you have a 2 years old.

Feel free to drop me a PM if you need more information on compliance fields, and I will be happy to share.

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Postby PrimroseHill » Mon, 02 Dec 2013 2:57 pm

Even in the field of compliance, if your wife is a product specialist, which is what SG is lacking,it will be fantastic.
Whether it is pre-dominantly asset managers, private wealth, private banking, US/DF reg guru or IB (inter-broker dealer, like Cantors) or IB (investment banking) or equities, corporate finance, derivatives etc.
If it is a regional role, there maybe some travelling involved. If it is a SG focused role, then usually there aren't any.


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