Wednesday , February 28 2024

ABSA careers South Africa – Manager Estate Administration

Website Absa Group Limited

Job Description:

To manage the administration of deceased estates by coordinating the activities of the team and to accept final responsibility for the problem solving, customer satisfaction, compliance, people management including administration and handling of complex estates.

Job Responsibilities:

  • Monitor that estate administrators ensure that properties that are rented monthly or per period or sold are collected timeously by the estate department or the panel of Attorneys (where applicable)
  • Evaluates, approves/declines advances and distributions according to the clients’ needs and estate mandates and make sure of the second approval.(where applicable)
  • To coordinate and manage management reports on the estate/magic system on a monthly basis.
  • Ensure that no fees are written back for negligence and not adhering to policy
  • Take responsibility for all estates allocated within the team by ensuring that estates are allocated to Administrators that have the relevant experience and capacity.
  • Be involved in complex estate cases with complaints as referred to by Head Office and/or Ombudsman and be part of the communication with clients. Escalate cases of greater complexity to the Branch Manager where opinion of the outcome of a decision differs to that of the administrators.
  • Delegate administrative tasks to supporting staff including renunciation of estates, queries on finalized estates.
  • Monitor that estate administrators ensure that all assets have been adequately and timeously insured by the approved insurer on a monthly basis via a report from the estate /magic system (where applicable)
  • Check and review all new files for correctness before accepting appointment of executor ship, and check all types of assets to ensure that the assets taken up can be administered cost effectively and in the best interest of the beneficiaries, legislation, investments and fixed property (i.e. farms, houses etc.)
  • Keep abreast of knowledge and skills relevant to the Fiduciary industry and Estate Act by reading all communication received from the legal department
  • Ensure that statutory and company requirements i.ro the administrative process are met.
  • Evaluate and interpret estate information and work out action plans in order to take fees on hand as per income targets.
  • Check that the assets are sold or rented (where applicable) at the best possible price and in the best interest of the beneficiary/Estate by obtaining valuations (where applicable) or instruction from the clients and/or the Master of the High Court.

Job Requirements:

  • Monitors all compliance issues (Questionnaires from the Master of the High Court. SARS Assessments, etc.) before the due date.
  • Check adherence to business processes and control practices for the team members and highlight the discrepancies to the teams and provide guidance.
  • Adhere to all legislative and compliance related procedures and policies
  • Branch Manager for correction.
  • Own and agree corrective items with the Internal Audit and Management Assurance for items related to the team. Ensure that zero tolerance approach to audit findings is understood by the team and arrange issue assurance for closed audit findings.
  • Check that the team members understand all compliance requirements and escalate to the Branch Manager to request the Regional Manager to request for the area Compliance Officer to conduct briefing sessions if gaps are identified.
  • Ensure that all team members comply when discrepancies arise by mapping all the 4 processes that have an impact in the area and ensure that they are understood by all team members by explaining the processes.
  • Ensure that all team members adhere to the Absa’s compliance requirements and industry related legislation within the teams and highlight the discrepancies to the teams and provide guidance.
  • Draws all management reports on the estate magic system on a monthly basis to manage all risk
  • Draws reports on SARS E- Filing of all outstanding cases and ensures that tax returns are completed, submitted and paid on time.
  • Complete required compliance attestation and check that the teams also completes the required attestations.
  • Adhere to all audit policies and compliance by closely monitoring the team and escalating deviations to the

Qualification & Experience:

  • Advanced Estates and Trust Diploma (preferred advantage)
  • Estate and Trust Diploma/LEAD(minimum)
  • Law degree or an NQF Level 6 equivalent.(minimum)
  • Relevant Bachelors degree with Honours or an NQF Level 7 equivalent (preferred advantage)
  • 5 years’ experience in the administration of deceased Estates.(minimum)
  • 2 years supervisory experience.(minimum)
  • 8 years’ experience within the Fiduciary environment (preferred advantage)
  • AMP (GIBBS) (preferred advantage)

Job Details:

Company: Absa Group Limited

Vacancy Type:  Full Time

Job Location: Pretoria, Gauteng, South Africa

Application Deadline: N/A

Apply Here

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