Financial Controller

ProvidusBank is an innovative financial institution that provides personal, private, corporate, commercial, and digital banking products and solutions. Our tailored financial services delivery includes Business Advisory, Portfolio Management, Personalised Relationship Management, Fast-tracked Service delivery and Self-service solutions.

We support our staff to achieve their objectives. We believe that we are making progress when our customers, colleagues, and community’s progress. Our Core Values of Integrity & Excellence are fundamental to how we interact with our stakeholders and colleagues, and we genuinely believe in these.

We believe that we provide an opportunity for a rewarding career and are looking for people who believe they can contribute positively towards our goal.

JOB TITLE:  Financial Controller

REPORTING LINE: Chief Financial Officer

JOB OBJECTIVE:  

To ensure adequacy and integrity of the financial records, statements, and reports by promoting full regulatory compliance in the analysis, documentation, and presentation of financial data on the bank’s business operations and transactions.

The role focuses on ensuring appropriate, comprehensive, and accurate capturing of the bank’s financial transactions and promoting financial stability by integrating finance operations, forecasting, budgeting, accounting standards, tax, and regulatory compliance matters in preparing financial and management reports for internal and external reference.

ROLES & RESPONSIBILITIES:

• Initiates and drives the establishment, documentation, and implementation of accounting principles, policies, methods, and procedures for the Bank in accordance with national and international standards
• Participates in the development of the Bank’s strategy and operational programmes by evaluating and analysing financial and other business transaction data; and by supporting in formulating and reporting on financial plans
• Liaises with Business Unit Heads to agree their CAPEX/OPEX budgets for integration into the consolidated annual budget of the bank for review by the CFO and executive management before approvals and onward presentation to the board.
• Maintains and updates the financial dashboard established for executive management insights on the financial performance of the bank and to note Inflows/outflows per top customers, regulatory and financial ratio check, and all required financial data for management decision
• Coordinates the preparation of daily general ledger reconciliations including correspondent bank accounts and application subsidiary records.
• Oversees the preparation of monthly general ledger reconciliations to ensure all balance sheet accounts have been reconciled, documented, and maintained in files, as well as following-up on any outstanding suspense items older than 90 days.
• Reviews CBN monthly performance of the Bank for appropriateness to provide clarifications in response to the monthly performance letter sent by CBN Reviews regulatory returns from all units to CBN DBR 300, DBR 394, LR, LDR, NOP to ensure the accuracy and completeness of returns in comparison with management account records
• Reviews capital adequacy ratio to CBN by checking to ensure the accuracy and completeness of the qualifying capital and other qualifying assets
• Reviews management account to ensure accuracy and integrity of data and accounting records in the financial statements
• Conducts periodic review of balance sheet and income statement to affirm the trial balance and ensure completeness, in line with expectations, or establish material variance spots for possible explanations
• Scrutinises the general ledger (GL) for material variances, unusual balances, and material movements in ledgers, and follows up with respective teams to clear any outstanding issues
• Undertakes final review of transaction entries/postings to ensure appropriateness of entries to be passed into the ledgers
• Coordinates the Review of income and expense general ledger entries for appropriateness and assures all monthly entries have been made, accrued or prepaid for the month before month end close
• Reviews and approves expenses and contract awards to ensure reasonability and appropriateness of expenditure, as well as compliance with policy guidelines and expected monthly spend
• Monitors the management of the Chart of accounts by reviewing to make sure creations, renaming and modifications are all in line with the bank’s policy provisions
• Reviews performances on MIS for the sales team and branches and checks to ascertain the performance of RM, branches, SBUs against past periods and budgets
• Undertakes competitor analysis to gauge the performance of peer and other banks with a view to gaining improvement insights for the Bank
• Reviews the payroll to ascertain accuracy and integrity of entries by conducting variance analysis, grade level payment checks, payroll breakdown checks, prorated sums, and new staff pay figures
• Reviews all statutory deductions i.e., PAYE, WHT, VAT, Pension contribution and NHF contribution and compares remittances with payroll and services interest payments as well as ledger balances with schedules.
• Reviews and updates MPR slide for the MPR session by checking SBU, branch and individual performances, analysing variance between budgeted targets and actual results
• Reviews SPR reports, checks group commitments and achievements and agrees scores with Group Heads prior to the SPR sessions
• Oversees the management of fixed assets depreciation, amortizations, accruals, impairments review and approval and reviews to ensure correctness and completeness of uploaded files
• Prepares board papers, for CFO review, on the bank’s performance for the quarter, including prior year comparison, prior quarter comparison, industry comparison and ratio analysis
• Oversees the conducts of NDIC deposit verification exercise, during the first quarter, by receiving and providing records for NDIC examiners to verify and validate NDIC premium payable for the financial year,
• Oversees the conduct of internal audit reviews across the different functions of financial control and strategy to establish are gaps and propose improvements solutions
• Oversees the conducts of CBN risk-based supervision Examination
• Oversees the conduct of annual external audit of the bank’s business and financial transactions by external auditors to form opinion on the financial statements of the bank

KNOWLEDGE REQUIRED

• Accounting, Attention to detail, Banking assets & liabilities management (BALM)
• Contracting & Contract management, Knowledge of Internal Audit, Internal control, and compliance, Sector and market knowledge, and Independence & Objectivity

SKILLS REQUIRED

• Strategic thinking, People Leadership, Conflict resolution, Communication (Verbal, non-verbal and written – includes presentation preparation and delivery), People Leadership, Relationship building and management, Planning & organization, Commercial acumen

QUALIFICATION

• Minimum of bachelor’s degree in finance/ Accounting or Business Administration and Management or related field. An MBA (or master’s degree) is an added advantage Professional Qualification in ACCA, ACA, CFA, etc.

EXPERIENCE

Minimum of 10 years of related experience in a bank or related department with at least 5 years in a managerial role

Interested in this role? Click Apply to submit your application.