Trust Manager

2 months ago

Pretoria, South Africa Absa Bank Limited 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

Management of the administration of Testamentary Trusts, Agencies, Inter Vivos Trusts, Curatorships, Policy Trusts, Road Accident Fund
Trusts and Medical Negligence Trusts in accordance with the Trust Mandate, by ensuring that all assets, are properly and timeously
invested, insured and administered to the optimal benefit of the beneficiaries within the legislative parameters.

Job Description

Key Accountabilities

Management of the general administration of Trusts
- Keep abreast of knowledge and skills relevant to the fiduciary industry by reading all communication received from the legal department and attending all informative sessions (updates received from legal department, broadcasts, Economics, Cost to company etc.)
- Evaluate all new files for correctness, feasibility and addressing the potential risks (financial and legal implications).
- Ensure that all new files have been captured and added correctly on the trust system by the Trust Officer and that all assets have been received.
- Evaluate and approve/decline all requests from the Trust Officer for financial assistance with motivation for decision within approved boundary of R400 000.00- R800 000.00 Investment approval.
- Look at files that are not financially viable and get rid of them by looking at other options, e.g. increasing the fees and getting other Trusteeship. If uncertain escalate to the Branch Manager.
- Manage all types of trust assets, Policies, Investments and fixed properties (i.e. farms, houses etc.)
- Ensure that assets are bought, sold or rented at the best possible price and in the best interest of the Beneficiary/ Trust by sending them to an approved Evaluator.
- Ensure that all trust's assets have been adequately and timeously insured by the approved insurer.
- Ensure that all Municipality rates and taxes and rent agencies have been paid timeously.
- Ensure that any properties that are rented monthly or per period is collected timeously. If not, that any outstanding payments are addressed through the approved panel of Attorneys to collect the outstanding monies.
- Evaluate, approve /decline continuous monthly and daily debit orders and ad-hoc requests in terms of the client's needs analysis and trust mandates.
- Prepare e.g. requests from clients for approval by Branch Manager in more complex cases
- Interact with Funds/ Executors/ Attorneys/ Co-Trustees/ Masters Office/ Road Accident Fund & South African Revenue Services (where applicable) to discuss the Trust.
- To be involved in complex trust cases and also be part of communication with clients in the office and externally.
- Manage various daily, monthly, annual reports e.g. Investment Trust, New Trust, Trust in creation, Maintenance and Outstanding Insurance.
- Ensure that the correct procedures are executed with the Maintenance and Existence Certificates to clients by the end of March every year (where applicable).
- Provide guidance to the Trust Officers with the tracing of beneficiaries via Central Information System, Information Tracing System and /or Tracing Agencies (where applicable).
- Evaluate and approve the final termination statements.
- Approve the final payments to clients, by checking the calculations and ensuring that it is the correct client, correct beneficiary, correct account and that tax is paid to SARS.
- Approving of the prepared terminated file for hand over to the strongroom and checking that the Compliance Policy is adhered to.
- Administer the process of paying of funds to the Guardian funds when the beneficiaries are not traceable.

Client Service
- Interact with walk-in and telephone clients on a daily basis.
- Ensure that the Trust Officers provide feedback to clients continuously of processes, procedures and progresses thereof.
- Ensure that Absa Group's telephone etiquette is adhered to according to the Absa standards.
- Ensure that the Trust department keeps to the guidelines of the Service Level Agreement with Funds and other parties
- Spot check of daily incoming and outgoing mail, faxes-mails, and telephone enquiries from clients, as well as approving all correspondence of a more serious nature as indicated by the Branch Manager.

Investments
- Keeping abreast of the latest available investment types by knowing what the different interest rates are, the potential capital growth as well as potential risk.
- Keeping abreast of the different investments suitable for individuals as well for trusts.
- Managing the revision of existing investment proposals - annually or as prescribed (i.e. If the value is in excess of R1.5 million, this is done every six months and if there are changes,

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