Financial Adviser AIFA Everyday Banking STLT (FAIS)

Absa Group; Richards Bay; On-site; ZAR 300,000 - 400,000; Full time

Job summary

A leading financial institution seeks a dedicated professional in Richards Bay to manage client relationships and provide financial planning solutions. You will advise clients on life assurance needs and collaborate with various stakeholders to achieve sales targets. The ideal candidate holds a FETC in Business, Commerce, or Management Studies. Join us to help shape financial futures in a supportive environment.

Responsibilities

• Establish and maintain professional relationships with all stakeholders.
• Prepare recommendations and quotes based on client needs.
• Ensure compliance with FAIS regulations.

Skills

Client relationship management

Risk assessment

Financial planning

Education

Further Education and Training Certificate (FETC): 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.

My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools, and support to unlock your potential. You are Absa. You are possibility.

Job Summary

To identify the 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 (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 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 the client's needs and profile.
• Present recommendations to clients, ensuring all FAIS regulations are followed 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/or growth targets. Plan activities by identifying clients to approach/contact during specific periods in conjunction with the Everyday Advice Executive.

• Use leads information and prospecting activities to determine client financial needs. Conduct comprehensive Financial Needs Analysis using Absa’s tools.
• Obtain client consent to access existing policy information by signing relevant documents.
• Discuss solutions and recommend appropriate products to address financial needs.
• Generate and discuss formal recommendations, complete necessary application forms, and secure client signatures.
• Complete all compliance documentation (e.g., Client Advice Record, ID copy, Financial Needs Analysis, FICA).
• Submit proposals to product providers and ensure issued policies match recommendations.
• Review client portfolios annually and maintain contact as per agreed strategy.
• Report on lead conversion rates and seek external business opportunities to grow the book.

Accountability: Manage own commission earnings.

• Accurately record Policy Relevant Information (PRI) numbers in the system.
• Verify monthly commission statements for accuracy and reconcile PRI numbers.
• Maintain an up-to-date client database, follow up on unpaid premiums and lapses, and manage suspense accounts promptly.

Accountability: Practice Management.

• Ensure staff understand their roles and responsibilities.
• Arrange relevant training for staff and provide coaching and mentorship.
• Participate in performance development discussions as per Absa standards.

Education

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