Financial Adviser: Everyday Banking (FAIS)

1075 Absa Ins & Fin Advise(Pty; Swellendam; On-site; ZAR 360,000 - 600,000; Full time

Job summary

Absa is recruiting a FAIS-licensed Financial Adviser to deliver tailored financial planning and investment guidance. The role requires using Financial Needs Analysis to assess client needs and present suitable solutions within the Absa advisory framework.

The incumbent will manage client relationships, generate leads, and ensure compliance with FAIS/BSA regulations, with ongoing reviews to maintain fit and proper status and to grow the client book.

Qualifications

• Minimum 2-3 years Financial Planning / Advice in Long-term Insurance and investment.
• RE 5 Certification and Fit and Proper for FAIS licensed adviser.

Responsibilities

• Build professional relationships with clients and stakeholders and identify opportunities.
• Prepare recommendations and quotes for risk and investment solutions based on client needs.
• Submit application forms and ensure compliance documentation is complete.

Skills

Financial Planning

Financial Advice

FAIS Knowledge

Education

NQF 5 FAIS qualification

FETC: Business/Management Studies

Tools

Avalon FAIS tool

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. Belonging at Absa Absa is committed to creating an inclusive workplace where everyone can thrive. We are an equal opportunity employer and welcome applications from suitably qualified individuals from diverse backgrounds. In support of our Diversity, Equity, Inclusion and Belonging (DEIB) commitments and Employment Equity objectives, preference may be given to candidates from underrepresented designated groups, including persons with disabilities. We encourage applicants who may require reasonable accommodation during the recruitment process to let us know so that appropriate support can be provided.

Job Summary

Job Description Summary

Key Requirements

• Minimum 2-3 years Financial Planning / Advice in Long-term Insurance and investment
• NQF 5 FSB approved qualification (120 FAIS Credits)
• RE 5 Certification Fit and proper for typical license categories - 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 will must be presented under the license categories for which the adviser is accredited Absa approved product(s) that are deemed will 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 regularly review of the client needs to assess continued suitability of implemented solutions. In these reviews, new needs may be addressed and changes to existing plans be proposed to ensure continued solutioning of client needs.
• Adviser must continue to ensure ongoing Fit and Proper status to enable them 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, and fully utilising Absa’s bancassurance structure.
• Assess client’s needs through use of recommended needs analysis tools, ensuring that the client is aware of the full value proposition offered by AIFA. Prepare recommendation and quote for appropriate risk and investment solutions based on the client’s individual needs and profile. Present recommendation to clients, ensuring that all FAIS regulations are followed regarding advice given. Follow all the 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, on an ongoing basis, with all stakeholders in Everyday Banking (PGM’s and Regional Managers) and elsewhere by attending their meetings and social gatherings to position the Absa Advisers' value proposition to the Bank and the clients.
• Accountability: Meet sales and/or growth targets Do activity planning by identifying the clients to be approached/contacted during a particular period in conjunction with Everyday Advice Executive. Using the leads information provided by the source and or Regional Manager listings, as well as leads sourced through own prospecting activities and determine the client’s financial needs. Make exclusive use of Absa’s Financial Needs Analysis tool (Avalon from Aug 2024 onwards) to conduct a comprehensive Financial Needs Analysis for the client. Obtain the client’s consent to access his/her existing policy information by getting him/her to sign the relevant documents to get a comprehensive view of the client’s financial needs. Discuss various possible solutions and options available with the client and thereafter recommend the most appropriate products and or solution(s) to address financial needs.
• Generate and discuss a formal recommendation including product quote(s) for the client. On acceptance of part or all the advice recommendations, complete the necessary product application forms and ensure that the client signs the forms to indicate his/her consent to engage in a transaction(s). Gather, generate, and complete all the necessary compliance documentation (e.g., Client Advice Record, copy of ID, Financial Needs Analysis, FICA). Submit the proposal forms to the relevant product providers for processing. Ensure that the issued policy aligns to the recommended product. Review the client’s portfolio at a minimum of once a year and contact the client based on the adviser and client agreed contact strategy to maintain a healthy client relationship. Provide a report back to the Regional Manager and Everyday Banking stakeholders on the strike rate (i.e., the number of leads provided that were converted to business) where applicable.
• Seek business opportunities from external sources as necessary to grow the book of business and reciprocate leads to Regional Managers and PGM’s.
• Accountability: Manage own commission earnings Capture the correct Policy Relevant Information (PRI) number on the Commission system. On a monthly basis, check the accuracy of the commission statements received from the Broker Commissions department. Verify that all the PRI numbers reconcile to the commission paid and reflected on the statements Keep the client database up to date by ensuring that new clients are added to the database. Follow up on unpaid premiums and lapses by contacting the clients to establish the reasons for the problems Manage the suspense account timeously by clearing it on the system at month end.
• Accountability: Practice Management Ensure that staff members (Adviser Assistants) have a clear understanding of their roles and responsibilities within the adviser practice. Arrange for staff members to receive the relevant training (Absa programs for the Interns) e.g., systems training, product training and operational training. Provide coaching and mentoring to assistant(s) with regards to facilitate knowledge and skills development. Participate performance development (PD) discussions as required by the Absa performance management standards. Take the necessary corrective actions in cases of underperformance in consultation with the Regional Manager. Implement controls with regards to compliant record keeping in accordance with minimum Absa business standards (i.e. FAIS, FICA, FSB and) Liaise with Provincial Operations Office) with regards to maintenance of systems and equipment and provision of other services Complete all the required compliance exams in the specified timeframes (e.g., Anti-Money Laundering, Sanctions, BCM, Basic Financial Crime Concepts). Remain fit and proper as required for FAIS flagged roles. Provide monthly feedback to the branch, and Business Bank, regarding non-interest income (seat costs) and cross‑selling opportunities Segment the client base according to profile, income potential and commission income. Engage with business development strategies with the support of the Regional Manager and our practice management subject matter experts to maximise the sustainability of the adviser practice.
• Accountability: Personal Development Attend all the required training to attain accreditation to market Absa approved products. Attend all the requisite internal training (i.e FAIS-related programs/courses). Attain the required FAIS credits in order to attain Fit and Proper status Ensure that Fit and Proper status is maintained (honesty, integrity, financial solvency).

Education

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

At Absa, our story is not a single narrative. It’s thousands of individual journeys unfolding across Africa and beyond. From colleagues serving customers in local communities to teams shaping financial solutions across borders, Absa is built on people who bring their lived experiences, ambitions and perspectives into the workplace every day. Whether you’re starting your career, a seasoned leader or somewhere in between, your contribution is seen, valued and connected to something bigger. Our presence across Africa – which spans personal and business banking, corporate and investment banking, wealth and investment management, and insurance – exists because of the people who show up in their roles with purpose. Across Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda and Zambia, our colleagues are shaping what Absa becomes in each market. Beyond the continent, teams in global offices and a technology hub support and extend the stories that prove that African talent can lead, influence and innovate on the global stage. At Absa, your story matters because progress is driven by human experience, not hierarchy. When people are enabled to bring their whole selves to work, they don’t just build careers. They help shape the future of Africa’s financial services landscape.