Trust Officer

Absa Group; Cape Town; On-site; ZAR 400,000 - 550,000; Full time

Job summary

A leading South African bank is seeking a Trust Officer in Cape Town to manage trust files, ensure compliance with legal requirements, and interact with clients. The role involves preparing investment propositions and annual tax submissions. Candidates should have a B Degree and relevant experience in fiduciary operations. This position offers an opportunity to contribute significantly to client success and adherence to trust guidelines.

Qualifications

• NQF Level 6: B Degree required, preferably in Law.
• Two years’ experience as a trust officer is essential.
• Advanced Estate and Trust Diploma preferred.

Responsibilities

• Manage and process trust files, ensuring accuracy.
• Interact with clients regarding trust matters.
• Prepare investment proposals and manage implementations.
• Submit annual tax returns for trusts to SARS.

Skills

Client interaction

Tax compliance

Investment proposal development

Risk report verification

Education

B Degree

Estate and Trust Diploma

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

General Administration of Trusts:
Stay updated on relevant knowledge and skills by reviewing communications from the legal department and attending informative sessions.
Review and approve information captured in newly opened trust files, ensuring accuracy according to the Will or Trust Deed.
Prepare and submit letters to SARS for taxpayer registration, as well as welcome letters and needs analysis forms to clients.
Provide security to the Master of the High Court when required, completing necessary documentation and arranging insurance.
Manage legal operations of trusts, including obtaining Letters of Authority from the Master of the High Court.
Arrange insurance for trust assets and ensure timely payment of premiums.
Handle property-related matters such as rates, taxes, tenant management, and asset transfer and insurance.
Prepare and manage monthly debit orders for client allowances and handle ad-hoc payments.
Evaluate client requests, prepare recommendations, and facilitate payments, ensuring adherence to trust guidelines.

Job Description

Client Services:
Interact with walk-in and telephone clients, addressing inquiries and discussing trust matters.
Respond to client requests and queries via various communication channels, ensuring timely resolution and payments.
Keep clients informed of trust fund processes, procedures, and progressions.

Investments:
Create and review investment proposals, ensuring compliance with regulations and trust guidelines.
Present investment proposals to the Investment Committee and oversee implementation of approved investments.
Maintain accurate records of investments and file proposals for record-keeping purposes.

Check Accuracy of Risks/Reports:
Verify risk reports and reconcile discrepancies, correcting transactions and details as necessary.
Ensure timely submission of reports to management and implement correction measures where needed.

Formulate Year-End Statements:
Check accuracy of financial statements, prepare manual statements if necessary, and ensure timely distribution to beneficiaries.
Verify tax schedules and certificates of maintenance and follow up on outstanding addresses and returned mail.
Ensure compliance with year-end statement procedures outlined in the Trust Manual.

SARS E-filing:
Submit annual and provisional tax returns for trusts, verify assessments from SARS, and maintain accurate records for audit purposes.
Manage payments to SARS and ensure compliance with tax deadlines and regulations.

Additional Responsibilities:
Perform other duties as assigned by management.

Education and Experience Required
• NQF Level 6: B Degree
• B degree in Law (NQF level 6) (Preferred)
• Estate and Trust Diploma (NQF level 5) (Preferred)
• Certificate in Deceased Estates Administration via LEAD (NQF level 7) (Preferred)
• Advanced Estate and Trust Diploma (NQF level 6) (Preferred)
• Two (2) years’ experience in the fiduciary environment as trust officer (Essential)
• Three (3) years’ experience in the trust environment (Essential)

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised