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Team Lead Regulatory Reporting Masters Job

2024-10-23 19:00   Accounting / Financial Services   Lagos   34 views
Job Details

Education:

First degree in Applied or Social Sciences, Higher Degree/ Professional accounting qualification such as ACCA, ACA, or its equivalent. 10 years financial control experience (in financial services)

Key Competency Requirements

Broad understanding of banking practices, products and regulations.
Advanced accounting and valuation skills.
An eye for detail and accuracy and a strong analytical capability.
Broad understanding of banking practices, products and regulations.
Excellent report writing skills.
Good interpersonal, communication and presentation skills.
Proficiency in model building, and in the use MS office suite & other Business intelligence tools.
Sound understanding of ICFR, IFRS and Generally Acceptable Accounting Policies.

Duties & Responsibilities

Implement strategies to ensure adequate compliance of the financial statements to the relevant IFRS standards, Group Accounting Policies & Regulatory requirements.
Perform financial analysis using models to show different possible scenarios and their implications to enable management make informed decisions
Ensure all financial assets and liabilities in the Group financial statements are measured and reported at their fair value or amortized cost in compliance with the relevant standard.
Understand the accounting entries raised and passed by the Bank's source systems to enable accurate conversion to IFRS where needed.
Champion the automation of all reporting processes and provide support to all IFRS applications to ensure their smooth implementation.
Develop strategies to ensure adherence to IFRS and the Group Accounting Policy.
Assess the impact of all new IFRS, Group Accounting Policy & regulatory policies on the financial performance of the Bank and regulatory ratios.
Ensure that all product manuals and new transactions entered into by the Bank take cognizance the impact of IFRS and are also reported in compliance to the relevant IFRS, Group Accounting Policy & Regulatory requirements.
Ensure all entities within the Group individual financial statements and reports are in compliance with IFRS, Group Accounting Policy & Regulatory requirements.
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 International Financial Reporting Standards (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 Retirement Benefit Obligation.
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.

Company Description
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.
Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government's privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.
The Bank has been named "The Best Bank Brand in Nigeria" four times in a row - 2011, 2012, 2013, 2014 - by the globally renowned "The Banker Magazine" of the Financial Times Group; and "Most Innovative Bank in Africa" in the EMEA Finance African Banking Awards 2014. FirstBank's brand purpose is to always put its customers, partners and all stakeholders at the heart of its business, even as it is poised to standardise customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision "To be the partner of first choice in building your future". Our brand promise is to always deliver the ultimate "gold standard" of value and excellence. This commitment is anchored on FirstBank's inherent values of passion, partnership and people, to position our customers first in every respect.