Air Carrier Captain reported the aircraft almost landed off runway due to First Officer failing to align with runway centerline. Flight performed a go around and landed safely.

Narrative

The first officer was the pilot flying from ZZZ [airport] to ZZZZ [airport]. ZZZZ terminal weather exhibited clear skies; with unrestricted visibility; and winds that were approximately 360 at 9 knots.The RNAV GPS RWXX course line; like many RNAV approaches in the A320 series aircraft; is misaligned from the physical runway centerline by about 2-3 degrees. Although both the course on the approach chart (ZZZZ) and runway heading indicate 297 degrees; the FMGC-displayed course line and flight director guidance placed the aircraft north of the actual extended runway centerline.The first officer configured the aircraft early and initially conducted a stable approach within company standards.At 5 miles; ZZZZ tower cleared Aircraft X to land; RW XX. The crew completed the landing checklist; set missed approach altitude; and ensured all exterior lights were illuminated.The first officer disengaged the autopilot with a centered flight director at about 600 MSL. At that time; the aircraft was aimed at; and aligned with; parallel taxiway 1. At initial autopilot disengagement; no maneuver was made to correct the right offset from centerline.At about 400 MSL; the captain directed the first officer to come left for centerline. First officer response was a slight left wing dip resulting in an insufficient correction with (still) a centered flight director. At about 200-300 MSL another left wing dip was executed resulting in another insufficient correction.Aimed at the grass between RW XX and taxiway 1 at about 100 MSL; it became apparent that the aircraft could not safely be landed from its current position; and the captain called; go around;" immediately followed by a more urgent "GO AROUND!"The first officer advanced the thrust levers; smoothly programmed aft stick; and initiated the go around maneuver. The aircraft annunciated; "50; 40; 30;" before it climbed out. At initial go around; the aircraft centerline was positioned to the right of the right runway edge lights. Without intervention; the aircraft would have landed off runway; in the grass to the north of the northern (right) runway edge.The first officer performed a satisfactory go around per company standards with no additional prompting. The first officer flew the second approach; also an RNAV RWXX; with significant coaching by the captain and landed safely on the second attempt.The captain's concern is that the first officer would have landed off runway without intervention due to over reliance on the flight directors. Throughout the approach; the flight director remained centered; and the aircraft remained out of position despite prompting by the captain.The first officer was over reliant on flight director guidance and automation. Probable insufficient training and/or proficiency regarding how to fly the aircraft in VMC conditions without flight director assistance. It should be noted that the other two approaches that the first officer flew during this sequence were straight-in ILS approaches--one nearly at approach weather minimums. Both were flown well in accordance with company standards.Suggestions: Recommend additional training for this first officer (and perhaps all company crews; if this is a company-wide cultural issue) emphasizing visual approaches and landings where flight director approach guidance is inconsistent with the aircraft's position in the physical world; emphasizing judgment; airmanship; and hand flying.Suggested technique: In VMC conditions; captains initiate go around no later than 200 AFL if the aircraft is not in a safe position to land to provide added safety margin."