So, I found out yesterday that my position is being eliminated as a result of restructuring. I have the opportunity to retain my salary and benefits and transfer into another job family. This would technically be s professional back-step; it's as a teller. Now, I started my banking career as a teller and loved it. But, as the current Compliance Specialist, is this really an ideal step to make?
What do you think?

i would do it so i could keep getting paid while I looked for another job.

Welcome to my world!

After 27 years with a large regional bank, my compliance position was eliminated. I was 57 years old at the time. Get the word out to everyone you can think of and have them spread the news that you're on the job market again. I found my current job less than a week after I received my notice - or should I say it found me. I was hired into a small community bank to work for someone I worked with at the old bank.

Hang in there. Something better will come along.

I think X may need a compliance officer... maybe you should PM him.

Thank, Xodus; I'm hearing the same from my friends. Bagweaver, congrats on such a swift bounce-back.

Sadly, one of the greatest concerns is being in a job where I'll not have access to BOL!

OHH Bacon I am so sorry to hear that. These are the time when we find out the stuff we are made from. You can look at this as an opportunity to branch out.

If you need to pay your bills and need insurance, stay put while you start getting your resume together. Are you in a position to move if needed? Do you like the world of Compliance enough to seek out the same position at another institution or maybe even go a whole other direction...get out of banking all together?

I just wanted ditto to everything CA just said. Stay put and look for something else. Or you might like being a teller again for a while, and still get the same salary!

I totally agree with the above.

How big is your bank and what kind of restructuring are they doing? Perhaps you can have a conversation with them to understand what is all happening, and what other opportunities might arise out of this in the next one, six, 12 months?

The fact they are offering you another spot at the same pay is a good sign, even if it is a step back...they could have simply laid you off. Perhaps this is a sign they want to keep you on board for other potential changes that they may not just be yet ready to announce?

I would take the offer, see what the game plan is, determine what might be in it for you in the future, make sure they know you consider this a temporary situation for yourself within your firm, and start to see what other opportunities exist out there.

Good luck!

I do plan on staying put until something else comes up. I agree, staying on-board for the same wages is grand. I'll likely put out feelers to see what's at other, larger banks. Just not too agressively.

Thxxx, y'all!!!

Hang in there Bacon Boy. in my career I had the same thing happen. My position was iliminated and I was given two choices. Take a step bakwards or 30 days to find a new job. I took the 30 days. Big risk but, I sent out 10 Resumes and had 6 interviews and 2 job offers in two weeks. Don't sell yourself short. There are plenty of banks that could use your talents in compliance.

You might not know how many banks are in your area. Do and institutional search on the FDIC website. This should give you a list of banks you can but your feelers out to.

Heck, if I could draw my current salary as a teller with 1/4 of the stress I'd go for it!! I know it's hard Bacon, but it all washes out in the end. I agree to keep the job until you find something that works out better. Maybe once they get partway through the 'restructure' some new area of opportunity will show itself and your still being there and willing to be flexable will get you into a new door.

Have you thought about applying to one or more of the regulatory agencies? Might be nice to be on the other side of the firing line for a change!

Cross over to the other side?!?! Sounds kind of fun, actually. Thxxx!

I don't know about your federal reserve bank but I was just at a breakfast in Chicago and they are hiring, so maybe some of the others are also. Worth looking at the website!!!

check your PMs

Also -- even though I am sure you are frustrated, try not to burn bridges with the people you work with right now. They might prove to be great resources in a year or 3. Good luck!