Financial Adviser Relationship Banking AIFA (FAIS)
ApplyLocations: Polokwane
Time Type: Full time
Posted on: Posted 4 Days Ago
End Date: January 31, 2025 (19 days left to apply)
Job Requisition ID: R-15967101
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.
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 identified needs.
Advice recommendations will be presented under the license categories for which the adviser is accredited, using Absa approved products that meet the needs of the client.
Upon client acceptance 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 ensure ongoing Fit and Proper status to enable them to offer services under an Absa advice license.
Job Description Key Accountabilities: 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 meetings to identify opportunities for new or repeat business, fully utilizing Absa's bancassurance structure.Assess client's needs using 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 stakeholders in Everyday Banking and attend meetings to position the Absa Advisers' value proposition.Accountability: Meet sales and/or growth targets Conduct activity planning by identifying clients to be approached during a specific period in conjunction with Everyday Advice Executive.Use leads information provided by sources and/or Regional Manager listings to determine clients' financial needs.Make exclusive use of Absa's Financial Needs Analysis tool to conduct a comprehensive analysis for the client.Obtain the client's consent to access existing policy information for a comprehensive view of financial needs.Discuss various possible solutions with the client and recommend the most appropriate products to address financial needs.Generate and discuss a formal recommendation including product quotes for the client.Complete necessary product application forms and ensure client consent for transactions.Gather and complete all necessary compliance documentation.Submit proposal forms to relevant product providers for processing.Review the client's portfolio at least once a year and contact the client as agreed to maintain a healthy relationship.Provide reports to the Regional Manager on the conversion rate of leads to business.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 monthly and verify reconciliation.Maintain an up-to-date client database.Follow up on unpaid premiums and lapses by contacting clients.Manage the suspense account timeously.Accountability: Practice Management Ensure staff members have a clear understanding of their roles.Arrange for relevant training for staff members.Provide coaching and mentoring to assistants.Participate in performance development discussions as required.Take corrective actions in cases of underperformance.Implement controls for compliant record-keeping.Complete all required compliance exams in specified timeframes.Provide monthly feedback regarding non-interest income and cross-selling opportunities.Segment the client base according to profile and income potential.Engage with business development strategies to maximize sustainability.Accountability: Personal Development Attend all required training to attain accreditation for Absa approved products.Ensure Fit and Proper status is maintained.Education Further Education and Training Certificate (FETC): 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.
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