Financial Adviser AIFA

1 week ago

Cape Town, Western Cape, South Africa Absa Group Full time
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

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, recommendations must be made to address single or multiple needs identified on behalf of the client. Advice recommendations will be presented under the license categories for which the adviser is accredited with Absa approved product(s) that are deemed to meet the needs of the client. Upon 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 regular reviews of the client needs to assess the continued suitability of implemented solutions. In these reviews, new needs may be addressed and changes to existing plans proposed to ensure continued solutioning of client needs. The 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: Establish and maintain professional relationships

- 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, fully utilizing Absa's bancassurance structure.

Accountability: Assess client's needs

- Assess client's needs through the use of recommended analysis tools, ensuring that the client is aware of the full value proposition offered by AIFA.
- Prepare recommendations and quotes for appropriate risk and investment solutions based on the client's individual needs and profile.
- Present recommendations to clients, ensuring that all FAIS regulations are followed regarding advice given.
- 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 all stakeholders in Everyday Banking and elsewhere by attending meetings and social gatherings to position the Absa Advisers' value proposition.

Accountability: Meet sales and/or growth targets

- Conduct activity planning by identifying clients to be approached/contacted during a particular period in conjunction with Everyday Advice Executive.
- Use leads information provided by sources and Regional Manager listings, as well as leads sourced through own prospecting activities, to determine the client's financial needs.
- Make exclusive use of Absa's Financial Needs Analysis tool to conduct a comprehensive Financial Needs Analysis for the client.
- Obtain the client's consent to access existing policy information by getting him/her to sign the relevant documents.
- Discuss various possible solutions and options available with the client and recommend the most appropriate products and/or solutions.
- Generate and discuss a formal recommendation including product quote(s) for the client. Upon acceptance of advice recommendations, complete necessary product application forms and ensure client signs them.
- Gather, generate, and complete all necessary compliance documentation.
- Submit proposal forms to relevant product providers for processing and ensure that issued policy aligns with the recommended product.
- Review the client's portfolio at least once a year and contact the client based on the agreed contact strategy.
- Provide a report back to the Regional Manager and Everyday Banking stakeholders on the strike rate.
- Seek business opportunities from external sources as necessary to grow the book of business.

Accountability: Manage own commission earnings

- Capture the correct Policy Relevant Information (PRI) number on the Commission system.
- Check the accuracy of commission statements received from the Broker Commissions department on a monthly basis.
- Keep the client database up to date by ensuring new clients are added.
- Follow up on unpaid premiums and lapses by contacting clients.
- 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.
- Arrange for staff members to receive relevant training (Absa programs for the Interns).
- Provide coaching and mentoring to assistant(s) regarding knowledge and skills development.
- Participate in performance development discussions as required by Absa performance management standards.
- Take necessary corrective actions in cases of underperformance in consultation with the Regional Manager.
- Implement controls regarding compliant record keeping in accordance with minimum Absa business standards.
- Complete all required compliance exams in specified timeframes.

Accountability: Personal Development

- Attend all required training to attain accreditation to market Absa approved products.
- Attend all requisite internal training (i.e. FAIS-related programs/courses).
- Attain required FAIS credits to maintain Fit and Proper status.

Education

Bachelor's Degrees and Advanced Diplomas: Accounting, National Senior Certificate/ Matric (Grade 12)

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.
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