College students recruited by American Express to bolster anti-money laundering ranks – 12th Nov 2014

With qualified anti-money laundering professionals in short supply and reciprocal poaching of talent the norm at U.S. banks, American Express Co has begun recruiting university students to fill its junior ranks straight out of college, a senior compliance executive with the company said Monday at a compliance conference in Washington. American Express has developed a successful program that involves hiring graduates as entry-level analysts to do account-monitoring work and training and developing them to do more in an effort to ”manage the expertise drain,” said Rick Small, a senior vice president who heads enterprise anti-money laundering, anti-corruption and international regulatory compliance. ”We’ve been going out to colleges and recruiting out of college. It’s very difficult to find people that have good analytic skills and have the ability to write and communicate clearly, and we’re seeing that they’re being taught that in college”

 

Brett Wolf, Compliance Complete