Compliance jobs in United States

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.

• 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.

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 to the clients

• 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.

• 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.

• 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.

• 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)

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