Financial Adviser AIFA Everyday Banking STLT (FAIS)

Absa Group; Polokwane; On-site; ZAR 200,000 - 300,000; Full time

Job summary

A financial services company based in Polokwane is seeking a Life Assurance Consultant to identify clients' life assurance needs and provide tailored solutions. You will establish relationships with stakeholders and maintain compliance with financial regulations. The ideal candidate should have experience in sales, client management, and financial services. A Further Education and Training Certificate in Business, Commerce, and Management Studies is required.

Qualifications

• Proven ability to manage client relationships effectively.
• Strong sales skills and ability to meet targets.
• Knowledge of financial products and compliance regulations.

Responsibilities

• Identify clients' life assurance needs and provide appropriate solutions.
• Present recommendations to clients ensuring compliance with regulations.
• Maintain client database and follow up on policy issues.

Skills

Client relationship management

Sales proficiency

Financial analysis

Compliance knowledge

Education

Further Education and Training Certificate in Business, Commerce and Management Studies

Job description

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

With over 100 years of rich history and a strong position 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.

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Job Summary

To identify long-term (life) risk and advise clients on their life assurance needs using the limited architecture framework. To provide solutions for the client's long-term insurance and financial planning needs by regularly reviewing the client's portfolio to build a sustainable broker practice.

Job Description

Accountability: To establish and maintain professional relationships with all stakeholders (Clients, 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 utilizing Absa’s bancassurance structure.

• Assess client needs using recommended needs analysis tools, ensuring clients are aware of the full value proposition offered by AIFA.
• Prepare recommendations and quotes for appropriate risk and investment solutions based on individual needs and profiles.
• Present recommendations to clients, ensuring compliance with 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 leads to business. Network with stakeholders in Everyday Banking and elsewhere to position the Absa Advisers' value proposition.

Accountability: Meet sales and growth targets. Plan activities by identifying clients to approach during specific periods in conjunction with the Advice Executive.

• Use leads information and prospecting activities to determine clients' financial needs. Conduct comprehensive Financial Needs Analysis using Absa’s tool.
• Obtain client consent to access existing policy information by signing relevant documents.
• Discuss solutions and recommend appropriate products. Generate formal recommendations and product quotes.
• Complete necessary documentation and submit proposals to product providers. Ensure policy alignment with recommendations.
• Review client portfolios annually and maintain relationships as per contact strategy.
• Report back to the Regional Manager on conversion rates and seek external business opportunities to grow the book.

Accountability: Manage own commission earnings.

• Accurately capture Policy Relevant Information (PRI) numbers.
• Verify monthly commission statements for accuracy and reconcile PRI numbers.
• Maintain an up-to-date client database and follow up on unpaid premiums and lapses.

Accountability: Practice Management.

• Ensure staff understand their roles and receive relevant training.
• Provide coaching and participate in performance development discussions.
• Implement controls to ensure compliance with FAIS, FICA, FSB standards, and maintain proper record-keeping.
• Complete all required compliance exams timely and maintain Fit and Proper status.
• Provide feedback on non-interest income and cross-selling opportunities.
• Segment client base and engage in business development strategies to sustain the practice.

Accountability: Personal Development.

• Attend training to attain and maintain accreditation for marketing Absa products.
• Complete FAIS-related courses and credits to maintain Fit and Proper status.

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)