Analyst, Subsidiaries Monitoring and Reporting at First Bank of Nigeria Limited

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 position below:

Job Title: Analyst, Subsidiaries Monitoring and Reporting

Job Identification: 785
Location: Lagos
Job Schedule: Full time

Job Objective(s)

• Responsible for overseeing the financial related activities of the subsidaries, guiding subsidiaries on key financial decisions, coordinating timely rendition of all Commercial Banking Group internal and regulatory reports, and providing analytical insights into the key drivers of subsidiaries performance.
• Also responsible for providing oversight for subsidiaries budgetary process driving improvement and ensuring accuracy of subsidiary related information to management and the Board.
• Assist in driving performance of CFOs in the subsidiaries by introducing initiatives to improve visibility and independent reporting centrally in the Group (e.g. MIS dashboards etc.)
• Assist in the timely preparation and rendition of financial reports by subsidiaries for Management reporting purpose.
• Assist in coordinating interim and statutory audit processes of subsidiaries
• Assist in ensuring monthly and quarterly subsidiaries performance review reports are presented to the Management Committee (Manco) and Board of Directors
• Assist in subsidiary budgeting process to ensure standardization of process across the group
• Ensure timely rendition of appropriate statutory reports to regulators
• Assist in coordinating the Group management Committee (GMC) reporting and all necessary reporting to the Board regarding subsidiary performance and insights.

Duties & Responsibilities

• Assist in ensuring timely rendition of monthly financial reporting returns, in the prescribed format, by commercial banking subsidiaries for group consolidated management reporting.
• Assist in coordinating the preparation and rendition of Monthly Offshore subsidiary reports to the Central Bank of Nigeria (CBN).
• Assist in preparing the statutory interim and final audit processes for all subsidiaries, providing support in follow ups with management of subsidiaries on updates on exceptions items highlighted during the audit exercise.
• Assist in organizing the monthly review session (MRS) with commercial banking subsidiaries, taking minutes capturing all performance enhancement and business improvement initiatives committed to by each subsidiary for tracking and monitoring.
• Assist in the preparation of monthly subsidiary performance review report for Management, highlighting performance against budget, the key drivers of the reported financial performance in the month under review and plans of each subsidiary enhance performance or mitigating factors to ameliorate an expected distortion to operation driven by external factors (Unfavourable macroeconomic/political or regulatory pronouncements),
• Assist in the preparation of quarterly subsidiary performance report for Board of Directors
• Assist in the preparation of the consolidated Group Management Committee (GMC) report for all commercial banking subsidiaries and Representative Office
• Assist in the quarterly Group Management Committee (GMC) sessions, and ensure that all finance related decisions taken by the committee are tracked for appropriate action and monitoring.
• Assist in coordinating quarterly Finance sessions with Chief Financial Officer (CFO) of subsidiaries.
• Assist in subsidiary budgetary process, to ensure standardization across the banking group
• Assist in ensuring compliance with all relevant industry policies and regulations in all jurisdictions of the commercial banking subsidiaries.

Job Requirements
Education:

• First Degree in Accounting, Economics or related discipline
• Strong preference for Postgraduate Degree or other professional qualification
• CFA, ACA, ACCA, CIMA in view a plus.

Experience:

• Minimum of 3 years working experience in Banking or related Financial Services industry
• 2+ years of proven track record in Financial Analysis, Financial accounting and reporting.
• Planning, organizing and managing people, and demonstrated ability to multitask and work independently with little supervision.

Application Closing Date
25th August, 2023.