TEAM LEAD REGULATORY REPORTING

Job Summary: Financial and Regulatory Reporting

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.