Mid-Career Switch from Traditional Banking vs Fintech

A mid-career switch within banking jobs in Singapore or financial services in broader sense has been more often than before – whether by choice or by circumstances. But regardless, it can be a dilemma to many. This is especially so if you are moving from a traditional corporate bank that is highly regulated, to a fintech firm that thrives on digital innovation and change.  

While this may be intimidating to many, there are transferable skills which can bridge gaps that fintech companies are looking for. Some of these roles include compliance jobs and financial risk management. With the pandemic creating a monumental shift in industries and workplace, we are seeing a big trend of compliance managers moving to fintech, payments and even cryptocurrency companies.  

Interview with Compliance Manager of Crypto.com

Huxley is a specialist in fintech recruitment solutions and to ease your concerns that you might have, we interviewed Lloyd Cheng, Compliance Manager at Crypto.com to bring you deeper insights into the fintech, blockchain and cryptocurrency space, as well as transferrable skills that has supported him in his career switch from traditional banking to fintech. Through his experience working in OCBC Bank Singapore, to his stint in a fintech start-up YouTrip and now Crypto.com, we dive deeper into frequently asked questions of fintech vs traditional bank. Interviewed by our Senior Recruitment Consultant, Niwas Nallasamy, he also shared about the talent landscape and movements within the governance, risk and compliance space in Singapore.

“I’ve seen an increase in demand from a hiring perspective from the Fintech, Blockchain and Crypto space, but there is an obvious lack of supply to meet this rise in the last couple of years. In 2020, we have 400-500 fintechs that are based out of Singapore. The two big areas of growth that we are seeing include payments, blockchain and cryptocurrency which many banks have tapped into as well.” – Lloyd Cheng.

 

Watch the interview below to get the full insights to:

  • Lloyd’s experience as a compliance manager in Singapore
  • Market updates of compliance and banking jobs in Singapore
  • Insight of the Payments Licensing Act in Singapore
  • His experience from OCBC Bank Singapore, YouTrip to Crypto.com
  • Transferable skillsets to have in traditional banks vs fintech
  • Top growth areas in Singapore: payments i.e digital, iBanking, blockchain, bitcoin, and cryptocurrency
  • Overview of the talent landscape in compliance
  • Latest compliance jobs, banking jobs and fintech jobs in Singapore

About Lloyd Cheng

Moving from OCBC Bank, to YouTrip and now Compliance Manager at Cypto.com, Lloyd brings with him an extensive experience within the governance, risk and compliance space, covering all grounds of traditional transaction monitoring, anti-money laundering (AML), Payments Services Act Licensing, blockchain and cryptocurrency. Do connect with him on LinkedIn if you wish to find out more, or to expand your network within the compliance industry.  

 

Huxley’s recruitment experts can help

The financial risk and compliance sectors in leading economic hubs like Singapore and Hong Kong are constantly evolving and growing increasingly niche. This means companies have to act fast to put the right people in place and prevent their organisation from being unnecessarily penalised for non-compliance. Huxley’s expert recruitment consultants specialise in hiring for financial risk management and compliance jobs in Singapore and Hong Kong. Huxley is a renowned full-service recruitment agency that identifies the best talent in the world’s leading financial and tech hubs.

If you are based in a traditional bank and is currently looking for a mid-career switch to fintech, but still possess doubts or concerns, please reach out to us via the form below indicating your queries.

 

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Whether you’re a professional looking for a job or a business seeking highly skilled talent, the team at Huxley are here for you.

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