Job Vacancies at First Bank of Nigeria Limited

Job Descritpion

• Daily monitoring and validation of Risk & P&L arising from the bank’s trading books by trades, position types based on risk factors.
• Advise treasury where necessary on P& L postings, reconciliations, analysis, adjustments, attribution etc
• Monthly balance sheet review of trading and hedging positions.
• Identify and advise on weaknesses in treasury processes and controls.
• Perform monthly review of Value at Risk computations prepared by Market & Liquidity Risk Department.
• Perform monthly stress tests and sensitivity analysis to assess the impact of movements in key variables such as interest rates, exchange rate, commodity prices etc on the banks trading portfolio.
• Monitor daily to ensure that trading activities are done within approved limits and render reports on breaches as required.
• Monitor to ensure that trading book is marked to market daily.
• Review the valuation of trading positions and financial instruments, to ensure appropriateness.
• Prepare and submit monthly Income attribution, Portfolio Performance and trading risk reports to the Financial Controller and CFO.
• Participate in setting up relevant technological applications for treasury activities.
• Stay up to date with current trends in financial markets and advise the Financial Controller, CFO & Management on implications for our trading portfolio.
• Make recommendations to management on trading best practices that minimize risk and maximize the profitability of our trading book.
• Preparation of disclosures on financial instruments reported at fair values for interim/annual financial statements.
• Provide support in monthly account closing activities and preparation of financial and management accounts
• Perform adhoc duties as may be required from time to time.
• Provide accounting decision support during the launch of new treasury products and product specific system implementations.

Education

• Minimum Education: First Degree in Applied or Social Sciences, Higher Degree / Professional accounting qualification such as ACCA, ACA, or its equivalent.

Experience:

• Minimum experience: 10 years of relevant experience in product control, Financial Control, Market & Liquidity Risk Management and Treasury.

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Job Identification: 526
Location: Lagos

Duties & Responsibilities

• Responsible for the preparation of monthly management and financial reports
• Coordinate all external audits e.g. statutory audits, regulatory audits (CBN/NDIC etc)
• Review and approve CBN returns daily for submission
• Develop and maintain documentation of Accounting policies and procedures.
• Establish and execute controls for compliance with the Group’s accounting and financial reporting procedure.
• Develop, support and maintain all financial accounting systems and ensure that they are compliant with IFRS, the Group’s accounting policy and other regulatory requirements.
• Review valuation of financial assets/ liabilities on a regular basis and proposes journals to state them in line with IFRS.
• Ensure that the consolidated financial statements and reports are prepared in accordance with the International Financial Reporting Standards (IFRS), the Group accounting policies and other regulatory reporting requirements.
• Provision of all IFRS disclosures in the financial statements for the annual audit, including the accounting entries and disclosure requirements for specific transactions, such as RBO.
• Provide support to the Accounts unit and ensure that all product manuals are in compliance with IFRS & the Group’s accounting policy before they are approved.
• Provide support to the GL control unit and ensure that all GLs report numbers that are in compliance with IFRS & the Group’s accounting policy and also assess the risk of the GLs that are not compliant.
• Provide support to the subsidiaries’ finance team and ensure that all reports prepared by them are in compliance with IFRS & the Group’s accounting policy and oversee their IFRS implementation.
• Act as an educator of the Bank and Group at large by providing necessary education/ enlightenment on IFRS and implementation of accounting policies.
• Perform in-depth financial analysis of the financial reports
• Provide support to the Bank and Group on Business intelligence, technical accounting issues and guidance on the financial implications of entering complex financial transactions.
• Perform impact assessment of new IFRS & regulatory policies, proposed and final, and assist in their implementation.
• Review and monitoring of monthly Capital adequacy & Liquidity and other regulatory ratios to ensure compliance with regulatory standards.
• Perform relevant ratio computations and advise management on their implications for the financial health of the Bank & Group. Benchmark these ratios against industry players and best standards.
• Perform pre and post-acquisition valuation of subsidiaries and account for business combinations.
• Perform valuation of the Bank’s Intangible Assets.
• Responsible for preparation of the annual deposit certification for statutory NDIC premium computation
• Provides support to other departments on financial reporting related matters

Job Requirements
Minimum Education:

• First Degree in Applied or Social Sciences, Higher Degree / Professional Accounting qualification such as ACCA, ACA, or its equivalent

Experience:

• At least twelve years post qualification experience, of which four should have been in a managerial role.