First Bank of Nigeria Recruitment for Head, Financial and Regulatory Reporting
First Bank of Nigeria Limited (FirstBank) is Nigeria’s largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
We are recruiting to fill the vacant position below:
Job Position: Head, Financial and Regulatory Reporting
Job ID: 1900005Q
Job Location: Lagos
Job Type: Full-time
Organization: Chief Financial Officer Directorate
Duties & Responsibilities
- Responsible for the preparation of monthly management and financial reports
- Co-ordinate all external audits e.g. statutory audit, regulatory audits
- Reviewing daily CBN returns before submission
- Develop and maintain documentation of Accounting policies and procedures.
- Establish and execute controls for compliance to 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.
- Preparation of group impact memoranda for all IFRS developments.
- Perform relevant ratio computations and advice management on their implications to 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
- Minimum Education: First degree in Applied or Social Sciences, Higher Degree/ Professional accounting qualification such as ACCA, ACA, or its equivalent
- At least twelve years post Qualification experience, of which four should have been in a managerial role.