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Looking for a guide on the application for Federal Ministry of Finance in Nigeria? Search no more. This articles offers a guide on the application for Federal Ministry of Finance in Nigeria, the positions available, the roles and responsibilities and requirements for the job.
The Federal Ministry of Finance
The Federal Ministry of Finance is a constituent of the Federal Ministries of Nigeria, situated at Plots 745 & 746, Ahmadu Bello Way, Central Area, P.M.B 14 Garki, Abuja, Nigeria. This governmental entity serves as the directing, regulating, and managing body responsible for overseeing Nigeria’s revenue and expenditures.
Responsible for the coordination of Nigeria’s finances, the Federal Ministry of Finance is tasked with managing all monetary transactions pertaining to the federal government of Nigeria.
The Federal Ministry of Finance Vacancies
Explore exciting opportunities with the Federal Ministry of Finance! Below, you’ll find a list of current vacancies, offering diverse roles to contribute to Nigeria’s financial landscape.
1. Job Title: Chief Operating Officer (COO)
Location: Abuja
Reference Number: 130-PEO00646
Roles & Responsibilities
The Chief Operating Officer (COO) is responsible for overseeing and harmonizing the organization’s internal operational functions, aligning them with the policies, goals, and objectives set forth by the Chief Executive Officer and the Board of Directors.
The COO holds a reporting relationship to the Chief Executive Officer (CEO).
Specific Duties of the Position
1. The Chief Operating Officer is responsible for guiding internal operations to attain budgeted outcomes and meet financial targets, while safeguarding the organization’s invested capital.
2. Collaborating in the formulation and preparation of both short-term and long-range plans and budgets, based on the organization’s overarching goals and objectives, the COO proposes these plans for approval to the Chief Executive Officer.
3. The COO oversees the development and implementation of procedures and controls, fostering effective communication and information flow, thereby strengthening management’s control and direction of the enterprise.
4. Developing and implementing operational policies in accordance with the guidance of the CEO and the Board, the COO ensures their proper execution. Regular and systematic appraisal and evaluation of overall operations are conducted, with results reported to the CEO.
5. Ensuring full compliance with all local, state, and federal regulations and laws governing business operations is a key responsibility of the Chief Operating Officer.
6. The COO creates and maintains a well-structured organizational plan. Additionally, policies are established to facilitate adequate management development and succession planning for the functions or business units under their purview.
7. Encouraging all team members to seek opportunities for streamlining business processes and enhancing efficiency is an essential aspect of the COO’s role.
8. Managing the master project list and assigning special projects as required is part of the Chief Operating Officer’s duties.
Requirements for Job
Education and Experience Required:
1. The candidate should possess a Bachelor’s degree in any field and a Master’s degree in a business-related discipline.
2. The ideal candidate must have a minimum of 18 years of post-graduation experience, with at least 13 years in the financial services industry, and at least 8 years at an Executive or Senior management level.
3. Relevant professional certifications, preferably in a business-related field, are highly desirable.
4. A demonstrated track record of success in MSME (Micro, Small, and Medium Enterprises) and developmental projects is a requirement.
2. Job Title: Chief Risk Officer (CRO)
Location: Abuja
Reference Number: 130-PEO00648
Roles & Responsibilities
The Chief Risk Officer (CRO) assumes a pivotal responsibility in actively recognizing and comprehending potential threats, opportunities, actions, or events that may impact the Bank’s capability to attain its objectives.
Additionally, the CRO is instrumental in devising suitable management policies to address these factors effectively.
Specific Duties of the Position
1. The Chief Risk Officer (CRO) is responsible for upholding and updating the Governance, Risk, Compliance, and Control Frameworks of the bank, in accordance with Board of Directors’ approval, both in theory and practice.
2. The CRO compiles, assesses, and presents risk-related information to the CEO and the Board, providing valuable insights for informed decision-making.
3. Ensuring strict adherence to relevant legislation and regulations is one of the primary duties of the CRO concerning the Bank’s activities.
4. The CRO develops, manages, and refines qualitative and quantitative risk reporting, tailored to meet the Board’s requirements, facilitating effective decision-making processes.
5. Formulating and articulating a coherent risk appetite and infrastructure, encompassing operating and financial models, as well as hiring plans, falls within the responsibility of the CRO.
6. The CRO establishes and oversees an early risk alert reporting system to promptly address potential issues.
7. By reviewing and confirming investment processes, the CRO establishes and maintains corporate governance systems and committee structures.
8. The CRO monitors key elements of the Bank’s risk profile and proactively devises strategies to mitigate and cope with potential risks.
9. Instilling a positive culture of confidence and informed risk-taking through training, communication, and promotion of the agreed risk framework is a key aspect of the CRO’s role.
10. The CRO effectively collaborates with third parties, regulatory bodies, and relevant stakeholders, exemplifying high personal and corporate ethical values and integrity.
11. Regular liaison with Risk-Rating agencies and external auditors is maintained to ensure compliance with statutory requirements.
2. As a member of senior management and the executive committee, the CRO provides crucial input and constructively challenges current issues and the development and implementation of the Bank’s strategy.
13. The CRO reviews, reports, and advises the CEO on identified risks and incidents affecting the Bank.
14. Monitoring to ensure compliance with company policies, procedures, and regulatory provisions, conducting risk assessments, and reviewing procedures are part of the CRO’s responsibilities.
15. The CRO develops and maintains compliance with all the Bank’s policies.
16. Managing the Bank’s risk profile in alignment with the Board’s intentions is a key focus for the CRO.
17. The CRO keeps the Board of Directors informed about corporate governance trends and provides relevant advice on the matter.
Requirements for Job
Education and Experience Required:
1. The candidate should possess at least a Bachelor’s Degree in any field and a Master’s Degree in a business-related discipline.
2. The ideal candidate must have a minimum of 18 years of post-graduation experience in Risk Management/Internal Audit, with at least 13 years in the financial services industry, 8 of which should have been in a Senior Management position.
3. Relevant professional qualifications such as Certified Internal Auditor (CIA), Enterprise Risk Management, or Risk Managers certifications are highly desirable.
4. Demonstrated track record of success in MSME (Micro, Small, and Medium Enterprises) and developmental projects is a requirement.
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