Retail Outflows Consultant

4 weeks ago


Cape Town, Western Cape, South Africa Rory Mackie & Associates Full time

Overview:


The Retail Outflows Consultant within the LISP (Retail) department will report to the Claims & Outflows Team Leader and will be responsible for validating, processing, and paying of claims for life, retirement, and discretionary products.


Claims consist of, but is not limited to, partial and full withdrawals, rollovers, retirements and transfers out (s14 and s50), death claims, divorce orders, emigrations (incl.

visa expirations), and disability claims.


This position will ensure the timely and accurate processing of instructions from clients, beneficiaries, executors, and the like in accordance with applicable policies and laws.

In addition, this function requires coordination of legislation, workflow management, and regular report generation.

***
Responsibilities:
  • Validate and verify instructions and supporting documentation
  • Process instructions received within SLAs in accordance with the relevant policies, legislation, and procedures. This includes drafting of annexures, s14 forms, etc.
  • Manage cases on dashboards with the objectives of high degree of client centric outcomes
  • Engage in communication with stakeholders, including query management, to complete instructions and manage stakeholder expectations
  • Engage with tracing agents, board of trustees and dependents, e.g., drafting trustee resolutions and communicating with beneficiaries regarding payment options and any disputes
  • Processing Section 37C claims in adherence to policies, legislation, and administration procedures
  • Validate and process all transfers (cash payments, unit and CSDP) in relation to the claim
  • Liaise with parties to successfully close out the claim process
  • Staying up to date with industry requirements and relevant legislation
  • Providing accurate information to clients and building and maintaining relationships with internal and external stakeholders
  • Making recommendations for improving client service and fair treatment of clients within the scope of responsibility
  • Where applicable, process claims endtoend (i.e. validate, process exits and reinvestment trades, process payments, communication)

Requirements:

  • Relevant BCom degree or studying towards a degree (advantageous)
  • Sound process and technical knowledge about Life, Retirement, and Discretionary products
  • Strong understanding of the relevant legislation
  • Basic understanding of the applicable tax legislation

Professional Skills and Characteristics:

  • Ability to work independently
  • Strong attention to detail
  • High level of numeracy and accuracy
  • Good analytical/problemsolving skills
  • Good communication skills, both written and verbal
  • Proactive individual who is willing to take responsibility and accountability for allocated tasks
  • Excellent organizational skills
  • Solid knowledge of the retirement fund industry and legislation


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