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Financial Planner Life - Retail Bank (#1,189,900,019) 

Job offer #1,189,900,019 in Bloemfontein (Free State), South Africa

Overall Job Purpose:

To identify the Life (long term) risk and give advice to clients on their life assurance needs using the Planner Model framework. To provide solutions for the client's long term assurance and financial planning needs by regularly reviewing the client's portfolio in order to build a sustainable adviser practice.

Key Accountabilities:
Accountability: To establish and maintain a professional relationship with all stakeholders (Client, Bank personnel, product providers and Adviser Support staff).

- Receive leads from the Bank staff in the branches (Priority Bankers, Consultants, Branch Managers or Front-line Staff) by way of walk in clients or leads data
- If it is a lead, make telephonic contact with the client to set up a meeting within the specified timeframes per the leads campaignagreement
- Based on the lead provided, assess the client's portfolio and identify possible gaps for which solutions can be formulated, prior to meeting with the client
- Disclose all the relevant information to the client as required by the relevant legislative frameworks (e.g. FAIS Act) at the initial meeting with the client to enable the client to make a decision on whether or not to proceed with the consultation
- Follow all the steps in the designated client engagement process as specified by Absa Advisers
- Provide regular feedback to the Regional Manager on actions taken to progress the lead to business
- Network, on an ongoing basis, with all stakeholders in the Bank (REs and Regional Managers) and elsewhere by attending their meetings and social gatherings in order to position the Absa Advisers' value proposition to the Bank and to the clients

Accountability: Meet sales and/or growth targets

- Do activity planning by identifying the clients to be approached/ contacted during a particular period
- Using the leads information provided by the Bank and Regional Manager, discuss the client's risk and insurance needs
- Make use of the Financial Needs Analysis tool (standardised format) provided to conduct a comprehensive risk evaluation for the client
- 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 risk and insuranceportfolio
- Discuss various possible solutions and options available with the client and thereafter recommend the most appropriate solution(s) to address any gaps
- 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
- Gather and complete all the necessary compliance documentation (e.g. Client Advice Record, copy of ID, Financial Needs Analysis, FICA)
- Submit the proposal forms to the relevant product providers forprocessing
- 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
- If not, refer the policy schedule back to the product provider for the necessary amendments to be done If the policy schedule is correct, make appointment with the client to explain all aspects of the policy (the cover extended, exclusions) and give him/her the original document after making copies for the client's file
- 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 portfolio and identify new businessopportunities
- Provide a report back to the Regional Manager and Bank stakeholders on the strike rate (i.e. the number of leads provided that were converted 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 SBankpak System
- On a monthly basis, check the accuracy of the commission statements received from the Broker Commissions department. Verify that all the PRI numbers reconcile to the commission paid and reflected on the statements Keep the client database up to date by ensuring that new clients are added to the database
- Follow up on unpaid premiums and lapses by contacting the clients to establish the reasons for the problems 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 within thepractice
- Arrange for staff members to receive the relevant training (Absa programs for the Interns) e.g. systems training, Regulatorytraining
- Provide coaching and mentoring to the staff with regards to knowledge and skills acquisition
- Conduct performance development (PD) discussions as required by Absa convention
- Take the necessary corrective actions in cases of underperformance in consultation with the Regional Manager. Implement controls with regards to compliant record keeping in accordance with minimum Absa business standards (i.e. FAIS, FICA, FSB)
- Liaise with Absa Advisers Support staff (DAC office) with regards to maintenance of systems and equipment and provision of otherservices
- Complete all the required compliance exams in the specified timeframes (e.g. Anti-Money Laundering, Sanctions, BCM, Basic Financial Crime Concepts)
- Provide monthly feedback to the branch, regarding non-interest income (seat costs) and cross-selling opportunities
- Segment the client base according to profile, income potential and commission income
- Develop a business development strategy/plan and discuss with Regional Manager

Accountability: Personal Development

- Attend all the required training to attain accreditation to market the various products (product provider)
- Attend all the requisite internal training (i.e FAIS-related programs/courses)
- Attain the required FAIS credits in order to attain Fit and Properstatus
- Ensure that Fit and Proper status is maintained (honesty, integrity, financial solvency)

Education and Experience Required:

- NQF Level 5.
- NQF - Level 4: Grade 12
- Regulatory Examination: Level 1


- NQF level 6

- CFP or Equivalent
- Higher certificate in Financial Planning

Membership of a professional association e.g. LUASA ( Life Underwriting Association of South Africa), Financial Planning Institute(FPI)

Job Details

Job Location
Post Code
Free State
South Africa

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