Financial Adviser AIFA Everyday Banking STLT (FAIS)

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

Job summary

A leading financial institution in South Africa seeks a Long-term Risk Advisor to identify clients' life assurance needs and provide tailored financial solutions. The role involves managing client relationships, meeting sales targets, and ensuring compliance with regulations. Ideal candidates will have relevant qualifications and a strong passion for customer service and financial solutions.

Qualifications

• Strong ability to establish professional relationships.
• Experience in sales activities and client engagement.
• Understanding of compliance regulations.

Responsibilities

• Identify client life assurance needs and provide solutions.
• Prepare and present recommendations to clients.
• Meet sales and growth targets.

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.

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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 their 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 analysis tools, ensuring awareness of the full value proposition offered by AIFA.
• Prepare recommendations and quotes for appropriate risk and investment solutions based on the client’s profile.
• Present recommendations to clients, ensuring compliance with FAIS regulations.
• 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 provided by sources and conduct own prospecting activities to determine client needs. Use Absa’s Financial Needs Analysis tool for comprehensive analysis.
• Obtain client consent to access existing policy information by signing relevant documents.
• Discuss solutions and recommend appropriate products or solutions.
• Generate and discuss formal recommendations, including product quotes. Complete necessary application forms upon client acceptance.
• Gather and complete all required compliance documentation.
• Submit proposals to relevant product providers and ensure policy alignment.
• Review client portfolios annually and maintain ongoing contact based on the agreed strategy.
• Report on the strike rate and seek external business opportunities to grow the book.

Accountability: Manage own commission earnings.

• Ensure correct Policy Relevant Information (PRI) numbers are used in the system.
• Verify the accuracy of monthly commission statements and reconcile PRI numbers.
• Keep the client database updated with new clients.
• Follow up on unpaid premiums and lapses by contacting clients.
• Manage suspense accounts timely.

Accountability: Practice Management.

• Ensure staff understand their roles and responsibilities.
• Arrange relevant training for staff members.
• Provide coaching and mentoring to assistants for skill development.

Participate in performance development discussions as required by Absa standards.

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