Unit Head, Product Control at First Bank

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We are currently recruiting a suitably and qualified Unit Head, Product Control (Full-time).

 

First Bank of Nigeria Limited is a multinational bank and financial services company in Lagos, Nigeria. First Bank is owned by FBN Holdings PLC, which in itself has diversified ownership with over 1.3 million shareholders.

 

JOB DESCRIPTION

Duties & Responsibilities

  • Operate the product control function for the Bank.
  • Monthly independent review and validation of positions, income recognition, valuation and all other accounting treatments of financial instruments, derivatives and all Treasury products to ensure appropriateness. 
  • Daily monitoring and validation of Risk, positions & P&L arising from the bank’s treasury products and activities.
  • Monthly review of Value at Risk, valuation and other computations prepared by Market & Liquidity Risk Department. 
  • Advise treasury where necessary on P& L postings, reconciliations, analysis, adjustments, attribution, and on weaknesses in treasury processes and controls.
  • Perform monthly stress tests and sensitivity analysis to assess the impact of movements in factors such as interest rates, exchange rate, prices etc on the bank’s treasury portfolio.
  • Monitor daily to ensure that trading activities are done within approved limits, render reports on breaches as required, and ensure positions are marked to market periodically per policy.
  • Prepare and submit monthly Income attribution, independence validation & assurance, portfolio performance and risk reports to the Financial Controller and CFO.
  • Participate in product paper review and set-up of relevant product and accounting parameters in all solutions and applications used for treasury activities.
  • Stay up to date with current trends in financial markets and advise the Financial Controller, CFO & Management on implications for the bank’s treasury portfolio.
  • Make recommendations to management on best practices that minimize risk and maximize the profitability of the treasury books.
  • Preparation of disclosures on financial instruments in the financial statements.
  • Provide support in monthly account closing activities and preparation of financial and management accounts as it relates to products.
  • Perform any other duty assigned by the Financial Controller and Chief Financial Officer.

 

JOB REQUIREMENT

  • Education

CFA or ACA/ACCA; Accounting or related Bachelors.

  • Experience

Must possess at least 15 years’ relevant experience.

 

Note: Only shortlisted applicants will be contacted. 

 

Method of Application

Interested and qualified applicants should follow the link below to submit CV and application letter.

Location: Nigeria

Application Deadline:  01/12/2024, 12:41 PM

>> CLICK HERE TO APPLY ONLINE

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