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: Team Lead, Subsidiaries Monitoring and Reporting (Tier 2) Job Identification: 784 Location: Lagos Job Type: Full-time
- Responsible for overseeing the financial activities of the subsidiaries, supporting subsidiaries on key financial decisions, coordinating timely rendition of all management, financial and regulatory reports, and providing analytical insights into the performance of subsidiaries.
Duties & Responsibilities
- Provide oversight for subsidiaries cost management and budgetary process for Tier 2 subsidiaries.
- Drive improvement and ensure accuracy of subsidiary related information reported to HQ management, the Board and regulators.
- Periodic revalidation of the business case for each subsidiary as well as the assessment of the associated goodwill for impairment. Also, work with the subsidiary CFOs, CEOs; and other key stakeholders to develop appropriate responses.
- Oversee and determine opportunities for synergies among subsidiaries to drive improved performance and returns to the Group.
- Drive and monitor performance of CFOs in the subsidiaries
- Drive initiatives to improve visibility and independent reporting centrally of all subsidiary’s financial activities
- Lead the development and preparation of the monthly and quarterly plan and budget of the subsidiaries.
- Guide and select appropriate controls that will enable the subsidiaries meet their cost objectives.
- Drive and track performance of finance improvement initiatives across the subsidiaries
- Provide actionable business intelligence and insight on the subsidiary’s financial performance across segments, products, locations and initiatives through reports and analytics
- Drive performance improvement in the subsidiaries by continuously benchmarking performance vs budget
- Drive the development and operation of the subsidiaries MIS for individual performance monitoring
- Plan, lead and facilitate periodic financial performance review sessions of subsidiaries.
- Drive cost optimization initiatives in the subsidiaries
- Lead timely preparation and rendition of management reports.
- Lead interim and statutory audits of subsidiaries
- Ensure monthly, quarterly, etc., reports of subsidiaries are presented to the Management Committee (MANCO) and Board of Directors
- Coordinate subsidiary budgeting process to ensure standardization of processes across the group, working with BPM and other key stakeholders
- Ensure timely rendition of statutory reports to regulators, as well as responding to regulatory queries
- Oversee the affairs of the Group Management Committee (GMC); following up on matters arising; and executing decisions reached
- Report subsidiary performance and insights to the Board.
Job Requirements Education:
- First Degree in Accounting, Economics or related discipline
- Strong preference for postgraduate degree or other professional qualification
- CFA, ACA, ACCA, CPA , MBA
- Minimum of 10 years working experience in Banking or related Financial Services industry
- 6+ 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 21st February, 2023.
Method of Application Interested and qualified candidates should: Click here to apply online