Job Vacancies at First Bank of Nigeria (FBN)

First Bank of Nigeria is a Nigerian multinational bank and financial services company headquartered in Lagos. It is the biggest bank in Nigeria by total deposits and gross earnings.

FBN operates a network of over 750 business locations across Africa, the United Kingdom and representative offices in Abu Dhabi, Beijing and Johannesburg set up to capture trade-related business between geographies.

Applications are invited from interested and qualified candidates to apply to fill the Job Vacancies at First Bank of Nigeria (FBN).

Job Specifications:

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Job Description:
  • Responsible for overseeing the financial related activities of the subsidiaries, 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.
Qualifications and 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.

2023 ONGOING JOBS

Analyst, Corporate Finance and Capital Optimization

Job Specifications:

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Job Description:
  • Assist in  executing the corporate finance activities of FirstBank Group, including mergers & acquisition, capital optimization and investment management. 
  • Assist in the cordination of the credit ratings process of the group to ensure the Group’s credit rating is achieved and maintained.

Duties & Responsibilities

  • Promote policies, processes, and guidelines to enhance corporate finance, capital management, ratings and investment activities of FirstBank Group.
  • Assist in coordinating all Corporate finance activities for the Bank and subsidiaries, which includes Mergers and Acquisition, Divestment, Capital Raising, restructurings, equity and debt financing
  • Assist in selection and shortlisting of transaction and legal advisers for necessary corporate finance transactions.
  • Assist in preparing financial models and work with Transaction Advisers in this regard to predict outcomes and make sound decisions.
  • Assist in negotiating, structuring and monitoring transaction workplans and ensure all target deadlines are met.
  • Assist in contributing to competitive bid proposals and formal presentations and other documents.
  • Assist in liaising with all parties, both internal and external, involved in transactions and assist with negotiations..
  • Assist to ensure the successful completion of transactions within stipulated deadlines.
  • Assist in preparing Request for Proposals (RFPs) for Advisors for Corporate Finance transactions.
  • Assist in preparing competitive bid proposals and formal presentations and other documents.
  • Assist in preparing Information memorandum, Valuation report and Investor presentations.
  • Assist in monitoring Due Diligence (DD) process conducted by the Adviser and assisted by relevant subsidiaries as applicable, providing regular update to management on the process.
  • Assist in relevant Regulatory and internal approvals to ensure closure of corporate finance transaction.
  • Assist in the end-to-end management of capital across all group entities, including ICAAP.
  • Assist in ensuring compliance with the Group Capital Management Framework.
  • Assist in executing capital raising of all forms, including Tier I and Tier II.
  • Asist in the Bank’s credit rating process to achieve set target credit rating.
  • Track performance of corporate finance activities post acquisition to quantify value accretion gained.
  • Carry out any assigned roles as mandated by the HOD or HOU..
Qualification and Requirement:

Education:

  • First Degree in Accounting, Economics or related discipline
  • Strong preference for postgraduate degree or other professional qualification
  • CFA, ACA, ACCA, CPA , MBA  

Experience:

  • Minimum of 5 years working experience in corporate finance, investment banking and capital management in Financial Services or related industry
  • 2+ years of proven track record in Financial Analysis, Financial accounting and reporting.

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Associate 2, Corporate Finance and Capital Optimization

Job Specifications:

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Job Description:
  • Responsible for executing the corporate finance activities of FirstBank Group, including mergers & acquisition, capital optimization and investment management. 
  • Coordinate the credit ratings process of the group to ensure the Group’s credit rating is achieved and maintained.

Duties & Responsibilities

  • Promote policies, processes, and guidelines to enhance corporate finance, capital management, ratings and investment activities of FirstBank Group.
  • Execute inorganic growth plans (M&A, partnerships, etc) of FirstBank Group
  • Prepare the valuation of investments opportunities as well as optimization of same for value accretive purposes.
  • Execute the end-to-end management of capital across all group entities, including ICAAP.
  • Ensure compliance with the Group Capital Management Framework.
  • Execute capital raising of all forms, including Tier I and Tier II.
  • Support the actualize the allocation of capital as required to optimize shareholder value.
  • Manage the Bank’s portfolio of investments to optimize returns
  • Plan the evolution of the Bank’s credit rating.
  • Facilitate the Bank’s credit rating process to achieve set target credit rating.
  • Facilitate all other corporate finance activities of operating entities in FirstBank Group.
  • Coordinate all relevant management, board and regulatory approvals for capital raising corporate finance decisions and investments of the FirstBank Group.
  • Track performance of corporate finance activities post acquisition to quantify value accretion gained.
  • Provide insight on the financial performance of potential targets and expected value accretion from transactions.
  • Recommend optimal transaction structures for corporate finance transactions for the First Bank Group.
  • track activities required to ensure target rating is obtained once achieved.
  • Prepare reports and presentation to engage the Management Committee (MANCO) and Board of Directors on potential targets and transaction opportunities.
  • Perform periodic scanning of the industry for corporate finance and investment opportunities.
Qualification and Requirement:
  • Minimum of 10 years working experience in corporate finance, investment banking and capital management in Financial Services or related industry
  • 6+ years of proven track record in Financial Analysis, Financial accounting and reporting.

Team Lead, Subsidiaries Monitoring and Reporting (Tier 2)

Job Specifications:

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Job Description:
  • 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.
Qualification and Requirement:

Education:

  • First Degree in Accounting, Economics or related discipline
  • Strong preference for postgraduate degree or other professional qualification
  • CFA, ACA, ACCA, CPA , MBA  

Experience:

  • 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.

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Method of Application

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Deadline: February 21, 2023

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