Adviser AIFA: Everyday Banking (FAIS)

Absa Group; Vryburg; On-site; ZAR 250,000 - 400,000; Full time

Job summary

Absa Group is seeking a FAIS licensed financial adviser to join their team. The successful candidate will engage clients in financial planning, implementing solutions to meet their diverse needs while ensuring compliance with regulations. This role offers a unique opportunity to grow within a dynamic banking environment while contributing to clients' financial success.

Qualifications

• FAIS licensed financial adviser required.
• Must conduct thorough Financial Needs Analysis.
• Experience with client relationship management is essential.

Responsibilities

• Establish and maintain professional relationships with clients.
• Conduct regular reviews of client needs and solutions.
• Meet sales and growth targets through proactive engagement.

Skills

Client Needs Analysis

Sales skills

Financial Advisory

Negotiation

Relationship Management

Education

FAIS License

Financial Planning Qualification

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

- To follow the six steps of financial planning in executing the role of a FAIS licensed financial adviser. A professional introduction must be made to introduce the adviser and the services offered by the adviser. Upon client approval, the adviser may conduct a Financial Needs Analysis (FNA) in the disciplines of Investment, Life Insurance, and Estate planning. Based on the concluded FNA, to make recommendations.

- To address single or multiple needs identified on behalf of the client. Advice recommendations must be presented under the license categories for which the adviser is accredited. Absa approved product(s) that are deemed to meet the needs of the client. On client acceptance of all or part of the advice, the adviser is required to implement the accepted advice through Absa’s new business processes.

- The adviser must conduct regular reviews of the client needs to assess the continued suitability of implemented solutions. In these reviews, new needs may be addressed, and changes to existing plans proposed to ensure continued solutioning of client needs.

- The adviser must ensure ongoing Fit and Proper status to offer services under an Absa advice license.

Job Description

Key Accountabilities:

Accountability: To establish and maintain a professional relationship with all stakeholders (Client, Bank personnel, product providers, and Adviser Support staff)

• Participate in reciprocal leads activities and sales/pipeline meetings to identify opportunities for new or repeat business, fully utilising Absa’s bancassurance structure.
• Assess client needs through recommended needs analysis tools, ensuring the client is aware of the full value proposition offered by AIFA.
• Prepare recommendations and quotes for appropriate risk and investment solutions based on the client’s needs and profile.
• Present recommendations to clients, following all FAIS regulations regarding advice given.
• Follow all steps in the designated client engagement process as specified by Absa Advisers.
• Provide regular feedback to the Regional Manager on actions taken to progress the lead to business.
• Network continuously with all stakeholders in Everyday Banking (PGMs and Regional Managers) and elsewhere by attending meetings and social gatherings to position the Absa Advisers' value proposition.

Accountability: Meet sales and/or growth targets

• Plan activities by identifying clients to approach/contact during a specific period, in conjunction with the Everyday Advice Executive.
• Use leads information provided by the source and/or Regional Manager, as well as self-sourced leads, to determine client needs.
• Use Absa’s Financial Needs Analysis tool (Avalon from Aug 2024 onwards) to conduct comprehensive analyses.
• Obtain client consent to access existing policy information by signing relevant documents.
• Discuss solutions and recommend the most suitable products to address financial needs.
• Generate and discuss formal recommendations, including product quotes.
• Complete necessary application forms upon client acceptance and obtain signatures.
• Gather and complete all compliance documentation (e.g., Client Advice Record, ID copy, FNA, FICA).
• Submit proposals to relevant providers for processing.
• Ensure issued policies match recommendations.
• Review client portfolios at least annually and maintain contact as per agreed strategy.
• Report back to the Regional Manager and stakeholders on conversion rates and opportunities.
• Seek external business opportunities to grow the book and reciprocate leads.

Accountability: Manage own commission earnings

• Correctly record Policy Relevant Information (PRI) numbers.
• Verify monthly commission statements for accuracy.
• Ensure PRI numbers reconcile with paid commissions.
• Maintain an up-to-date client database.
• Follow up on unpaid premiums and lapses, contacting clients as needed.
• Manage suspense accounts promptly.

Accountability: Practice Management

• Ensure staff (Adviser Assistants) understand their roles.
• Arrange training for staff on relevant systems, products, and operations.
• Provide coaching and mentoring to assistants.
• Participate in performance development discussions.
• Address underperformance in consultation with the Regional Manager.
• Maintain compliant record-keeping per standards (FAIS, FICA, FSB).
• Coordinate with Provincial Operations for system and equipment maintenance.
• Complete all compliance exams timely.
• Remain fit and proper for FAIS roles.
• Provide monthly feedback on non-interest income and cross-selling.
• Segment the client base by profile, income, and potential.
• Engage in business development strategies to sustain the practice.

Accountability: Personal Development

• Attend training to qualify for product accreditation.
• Complete internal FAIS-related training.
• Achieve and maintain FAIS credits for Fit and Proper status.

Education

Absa Bank Limited is an equal opportunity employer. In line with the Employment Equity Act 55 of 1998, preference will be given to candidates from designated groups, contributing to workforce diversity.

Absa reserves the right not to fill the position.

About the company

Absa Group Limited, formerly Amalgamated Banks of South Africa, is a South African financial services group offering various banking and wealth management services.

Notice

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