Financial Analyst at The Development Bank of Nigeria (DBN)

Job Objective and Summary

• The Financial Analyst provides high quality analysis of the Bank’s financial activities to ensure availability of critical information for decision making within the Bank.
• He/She carries out financial processing of transactions and generates journals, trial balance, financial statements and other reports.
• The role reports to the Head, Finance & Accounts.

Core Responsibilities

Financial Policies and Control

• Coordinates finance policies and processes, updates and ensures withdrawal of outdated policies and processes
• Collates feedback and evaluates information on financial control lapses from various source
• Liaises with the relevant teams to organize workshops and other communication aimed at promoting Financial Control awareness
• Financial Transaction Processing
• Processes all financial transactions of the Bank in line with the Financial Management manual
• Prepares accurate and timely journal entries in support of all financial transactions
• Prepares daily activity records and Bank’s financial position
• Posts duly approved entries in Bank’s core banking application and generates the trial balance

Financial Data Analysis

• Calculates and analyses trends in line with the Bank’s strategic objectives
• Prepares and evaluates financial projections - income statements, balance sheet, cash flow and key ratios
• Prepares yield and cost reports of assets and liabilities
• Conducts financial and economic analyses of customers, projects and initiatives to assess profitability and performance
• Collects and analyzes all financial data and appropriate performance indicators to ensure optimal balance sheet management
• Analyses prudential and regulatory ratios and reports on compliance with set thresholds

Financial Reporting

• Prepares monthly and quarterly financial statements and analysis
• Generates financial ratios between current and prior year values in the Balance Sheet, Income and Cash Flow Statements
• Conducts review on historic performance and prepares report on financial trends and financial statement analysis
• Reviews and reports on the alignment of proposed capital expenditure for initiatives with the Bank’s objectives/performance targets as well as perform cost-benefit analysis
• Assists with the provision of financial recommendations and advice to the management
• Provides financial expertise to teams in charge of activities at the various stages of project cycle, namely identification, preparation, appraisal, implementation and completion
• Reviews financial records and audit reports of on-lending accounts in order to advise on the allocation and monitoring of on-lending funds.

Competencies

Knowledge:

• Knowledge of financial services industry
• Knowledge of accounting standards and regulations (GAAP/IFRS etc.)
• Working knowledge of financial control and analysis
• Knowledge of relevant banking applications
• Knowledge of controls and risk management
• Knowledge of cash-flow and financial modelling
• Knowledge of local and international economic and development issues

Technical Competencies:

• Expertise in Financial & Management Accounting
• Expertise in research, data gathering and numerical analysis
• Demonstrates expertise in Financial Analysis & Interpretation and reporting
• Excellent communication skills (Oral & Written)
• Expertise in technical financial report writing.

Behavioural Competencies:

Mentoring and Coaching Skills

Analytical/Problem Solving Skills

• Team management
• Strategic Thinking/Orientation
• Interpersonal Skills
• Organisation Skills
• Teamwork, collaboration and networking skills.
• Multi-tasking ability
• Accuracy and attention to details.

Qualifications

Educational Qualifications:

• A bachelor’s degree in Finance, Accounts or any Social Management Sciences or Business-related discipline.
• A post-graduate or master’s degree in a related field is an added advantage.

Professional Qualifications:

• Membership of ICAN, ACCA, CFA or CPA is required.

Experience:

• A minimum of 4 years working experience in an Accounting or Finance related function in a financial institution.