Risk & Control Associate

Banking Services Makati City, Philippines


Risk & Control Associate (with focus on KYC/AML)



About Citco

Citco is a global leader in fund services, corporate governance and related asset services with staff across 80 offices worldwide. With more than $1 trillion in assets under administration, we deliver end-to-end solutions and exceptional service to meet our clients’ needs.

For more information about Citco, please visit www.citco.com

About the Team & Business Line:

The Risk and Control Group (R&C) is a group-level, global team, responsible for fostering risk and control awareness across all divisions within the Citco Group of Companies. The R&C strategy is to support the organization in implementing a robust risk management and control framework globally across all lines of business.

The Client Lifecycle Management (CLM) team is part of the Citco Group of Companies and is responsible for the onboarding and ongoing due diligence of Citco Banking and Fund Administration clients in accordance with anti-money laundering (AML) and know your customer (KYC) regulations.  The main objective of the CLM team is to protect Citco and the Financial Industry for being used for money laundering and terrorist financing purposes.


Your Role:

We offer you an exciting role as Risk and Control Associate with special focus on AML/ KYC matters. The R&C team is predominantly responsible for the production of the SOC 1 reports for the Citco Funds Services, the Citco Bank and Depositary Services lines of business, in addition to many other compliance-based review projects analyzing operational effectiveness of the internal control framework. For the Client Lifecycle Management processes, Citco is using the industry best practice CLM software “Fen-X” from Fenergo Limited. You will work in a dynamic team based in Manila for an industry leader within its field with plenty of career opportunities. We are looking forward working with you!

Your Responsibilities:

  • Report to the relevant Risk and Control Supervisor. Cultivate and maintain excellent relationships with management and staff in the business, external auditors and R&C colleagues.
  • Involvement in the day-to-day execution of the operational effectiveness testing for the CLM team in a quality manner including timely work paper completion and review. This will include liaising and working with other key individuals responsible on related operational effectiveness testing work as well as business representatives across various offices, locations and time zones working with you.
  • Involvement in the execution of control effectiveness reviews including responsibility for work paper completion, identification of risk issues, and escalation of relevant matters identified in the review process to R&C and CLM management. This will include independent collection of test supporting documentation, proactive identification and investigation of issues on tests completed (both design gaps / control deficiencies and control operating effectiveness issues), and providing value-adding recommendations on issues noted.
  • Assist in managing the data input of key information in line with pre-defined requirements and with electronic filing of supporting documentation.
  • Manage the R&C mailbox.
  • Foster risk and control awareness across the organization by working with management and second line of defense functions.  
  • Maintain expertise and pursue training to keep abreast of new and proposed developments in Customer Due Diligence, Risk Management and auditing fields and consider the impact on the company through various industry organizations.
  • Demonstrating an awareness of and a commitment to management of risk. Consistently monitoring Citco’s standard policies and procedures, aware of  potential internal and external operational risk to Citco and engages all necessary resources and implements appropriate controls to manage risk.
  • Demonstrates a thorough knowledge of policies and procedures and ensures policies and procedures are implemented and adhered to, to avoid non-compliance and error by the business.
  • Ensures team are knowledgeable and compliant with relevant policies and regulations to prevent reputational and financial risk to Citco.
  • Helps identify potential risks in the operational processes and suggests appropriate actions to appropriately minimize any residual risk.
  • Uses knowledge of existing policies and procedures to recommend and enhance processes in terms of efficiency, effectiveness and risk management.
  • Reviews and analyses process breakdowns and error logs as part of ongoing risk management activities.


About You:

  • Bachelor’s degree in Accountancy or Finance from an accredited college/ university;
  • Philippine’s Certified Public Accountant (CPA) professional qualification is preferred;
  • At least one-year experience of working in accounting/ risk management/ internal controls/ internal audit function of a financial institution / financial services and / or alternative investments industry is preferred;
  • Experience with a big 4 audit firm is a plus;
  • Knowledge on KYC/AML and customer due diligence, preferable in the offshore sector or fund industry;
  • Good communication skills in English, both verbal and written;
  • Strong problem solving and analytical skills;
  • Proficiency in Microsoft office applications (e.g., Excel, Word);
  • Team player;
  • Ability to assimilate the requirements of the role quickly and eagerness to learn;
  • Knowledge of the alternative investment and financial industry is an advantage.


Our Benefits

Your well being is of paramount importance to us, and central to our success. We provide a range of benefits, training and education support, and flexible working arrangements to help you achieve success in your career while balancing personal needs. Ask us about specific benefits in your location.

We recognize diversity as a source of organizational pride and strength. We have made it a priority to reflect our nation’s evolving diversity in the people we hire, and the culture we create in our organization.

Citco welcomes and encourages applications from people with disabilities. Accommodations are available upon request for candidates taking part in all aspects of the selection.