Sunday , February 25 2024

ABSA Jobs in Cape Town – Financial Adviser AIFA

Website Absa Group Limited

Job Description:

To identify the long term (life) risk and give advice to clients on their life assurance needs using the limited architecture framework. To provide solutions for the client’s long term insurance and financial planning needs by regularly reviewing the client’s portfolio in order to build a sustainable broker practice.

Job Responsibilities:

  • Obtain the client’s consent to access his/her existing policy information by getting him/her to sign the relevant documents in order to get a comprehensive view of the client’s life assurance (long term insurance and investments) portfolio
  • Discuss various possible solutions and options available with the client and thereafter recommend the most appropriate solution(s) to address any gaps
  • Gather and complete all the necessary compliance documentation (e.g. Client Advice Record, copy of ID, Financial Needs Analysis, FICA)
  • Upon inception of the policy and receiving the policy schedule/contract from the product provider/insurer, check that the policy schedule reflects the client’s requirements as per the proposal or closing instruction/agreement
  • Check that the policy schedule reflects the client’s requirements as per the proposal or closing instruction/agreement upon inception of the policy and receiving the policy schedule/contract from the product provider/insurer. If incorrect refer back to the product provider for amendments
  • Submit the proposal forms to the relevant product providers for processing
  • Review the client’s portfolio once a year and contact the client on a regular basis to discuss potential enhancements and revisions to his/her insurance and/or investments portfolio and identify new business opportunities
  • Provide a report back to the Regional Manager and Bank stakeholders on the strike rate (i.e. number of leads provided that were converted to business) as and when required by the AIFA Business Process
  • Make use of the Financial Needs Analysis tool (standardised format) provided to conduct a comprehensive risk evaluation for the client
  • Generate and discuss the appropriate solution in writing (quotation) with the client, complete the necessary product proposal forms and ensure that the client signs the forms to indicate his/her consent

Job Requirements:

  • Negotiation skills
  • Interpersonal skills
  • Knowledge of life insurance industry
  • Entrepreneurial skills
  • Conflict handling skills
  • Ability to build effective relationships
  • Presentation skills

Qualification & Experience:

  • Higher certificate in Insurance
  • NQF 120 credits full Qualification, Level 5.
  • NQF – Level 4
  • CFP or Equivalent
  • 60 FAIS credits at NQF Level 5

Job Details:

Company: Absa Group Limited

Vacancy Type: Full Time

Job Location: Cape Town, Western Cape, South Africa

Application Deadline: N/A

Apply Here