Head - Asset, Liability & Management at First Bank of Nigeria Limited (FirstBank)

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: Head - Asset, Liability & Management

Location: Lagos
Job Type: Full-time

Duties & Responsibilities
Balance Sheet & Interest Rate Risk Management:

• Propose key Balance Sheet limits for Management Approval and monitor compliance
• Review Non-trading Interest rate risk management reports, analysis of findings and recommending courses of action to management at ALCO
• Stress test the Bank’s earnings for key financial risk i.e FX Risk, Interest rate risk, reporting stress test results to management and recommending courses of action.
• Implement Funds Transfer Pricing Model, and recommending new pool rates to management
• Ensure management is updated on new regulations, guidelines or policies in ALM, Liquidity and Interest Rate risk management and the effect on the Bank’s business.
• Stress test the liquidity position of the bank, reporting stress test results to management and recommending courses of action
• Review Liquidity risk management reports for ALCO, analysis of findings and recommending courses of action to management 
• Review liquidity and repricing gap reports.
• Provide an overview of the Bank’s Balance Sheet to Treasury, Chief Risk Officer and the Head, Market and Liquidity Risk Management.
• Coordinate the preparation of Balance Sheet in all major currencies daily (Naira, US$ GBP, EUR and FCY)
• Ensure compliance with the Bank’s liquidity metrics as well as internal and regulatory limits.
• Ensure compliance with key Balance sheet ratios: (Funding & Liquidity ratios; Efficiency ratios; capital management ratios on daily basis) for compliance with internal and regulatory limits
• Coordination of the preparation of the Bank’s Internal Liquidity Adequacy Assessment Process (ILAAP) and Recovery and Resolution Plan RRP report to Executive Management, Board and CBN.
• Evaluate liquidity, Foreign Currency and interest rate impacts of new business initiatives
• Responsible for managing the Group’s balance sheet and liquidity risk to within agreed limits.
• Ensure that a robust liquidity position is maintained, and that any surplus liquidity is deployed prudently in line with the Bank’s objectives.

ALCO Reports:

• Coordinate the ALCO reporting process
• Review ALCO Presentations/Reports
• Present Reports at ALCO meetings in the absence of the HOD

ALCO Secretariat:

• Responsible for the smooth running of the ALCO secretariat.
• Ensure timely collation and circulation of ALCO reports and papers and monitor ALCO action points and reporting progress to the committee.
• Ensure accurate documentation and timely circulation of minutes.
• Track deliverables and action points from the ALCO meeting.

Board Reports:

• Prepare quarterly ALM Board reports and ensuring all key Liquidity, Capital Adequacy and Interest rate metrics are reported to the Board and Board Committee.
• Quarterly Stress testing of Trading & Non-Trading books
• Present all ALM and Market Risk reports to the Board Risk Management Committee (BRMC) in the absence of the HOD

External Reports:

• Ensure the preparation of all Market and Liquidity Risk Management notes and disclosures as part of the Bank, Banking Group and FBN Holdings’ annual published accounts 
• Provide all ALM audit schedules to external auditors.
• Respond to CBN as it relates to liquidity and non-trading market risk as well as to rating agencies and other external bodies.

Policies and Practices:

• Development of ALM practices, guidelines and policies.
• Coordinating the periodic review of ALM policies and guidelines
• Advise on strategic responses to liquidity risks embedded in non-trading book-prepayment clauses etc.
• Prepare Market & Liquidity Risk Package and ALM & Trading Limits. 
• Creating ALM and Market Risk awareness among stakeholders. Training of RICOs and Stakeholders on ALM practices.
• Work closely with FINCON, CRM, Capital Management and Treasury to update or develop liquidity stress methodology

Model Development:

• Developing required ALM & Market Risk models using Microsoft Excel VBA.
• Enhancement and optimization of existing ALM models.
• Independent validation of new and existing models used in non-trading market risk, liquidity risk, stress testing etc.
• Review regulatory requirements and industry practice regarding liquidity risk and non-trading market risk models.

Project Management:

• Coordinate the implementation and assist with the Enterprise risk management projects of the Bank as it relates to ALM, Liquidity Risk and Non-Trading Interest Rate Risk.
• Management of ALM Software implementation and optimization.

Subsidiary Oversight:

• Review of Non-Trading Market Risk and Liquidity Risk practices, policies, limits, ratios and models of the various subsidiaries.
• Participating in the Bi- Monthly ALCO meetings of all the subsidiaries.
• Review the report on the daily and quarterly balance sheet ratios to check for compliance to the entities’ board approved limits and regulatory thresholds.
• Training and development ALM Risk staff across the subsidiaries.
• Other Duties:
• Act as Head, Market and Liquidity Risk Management in the absence of the HOD
• Prepare annual departmental budget and maintaining efficient budgetary control within the department.
• Respond to internal audit queries and exceptions
• Ensure the Training and development of subordinates
• Any other duty that may be assigned by the HOD or other senior officers of the bank.

Requirements
Education:

• Minimum Education:  B.Sc. in Finance, Accounting, Economics, Mathematics/Statistics or any other technical discipline.  Higher degrees (nice to have).

Experience:

• Minimum experience:  10 years relevant experience covering Finance and Risk Management

Application Closing Date
9th September, 2025; 01:58PM.