Commercial aircraft have a HSI (horizontal situation indicator) located front and center on the panel in front of the pilots. This instrument presents about 12 distinct pieces of information to the pilot, but once again, on short finals, the pilots is mainly concerned with (1) airspeed (2) altitude (3) rate of descent on this instrument. All of which are displayed on the left and right edge of the HSI in the form of moving bars. The information in the centre with relation to position and orientation is discarded as unnecessary 'noise' under this extremely high workload.
You are right in that the co-pilot has to work in conjunction with the pilot to ensure safe flight. Indeed, in many cases, it was the co-pilot (or non flying pilot) that alerted the flying pilot as to an imminent danger. But that doesn't always happen either. Take the case mentioned elsewhere here of the worlds worst aviation disaster. In that scenario, the junior co-pilot of the KLM jet notified the Captain (who was one of the the most senior pilot in KLM at the time) TWICE that he thought the PanAm jet was still on the runway, only to be ignored.