Adviser Trainee Virtual at Absa

Job Summary

• To provide holistic financial planning solutions telephonically for clients through regular reviewing the client’s portfolio in order to build a sustainable Virtual advisory practice.

Job Description

Adviser Trainee Virtual

• To provide holistic financial planning solutions telephonically for clients through regular reviewing the client’s portfolio in order to build a sustainable Virtual advisory practice.
• To establish and maintain a professional relationship with all stakeholders (Client, Bank personnel, Product providers, Virtual Advisors and Virtual Agents) telephonically. 

Outputs to deliver this accountability:

• Receive leads data provided by the Team Leader or Campaign Manager
• If it is a lead, make telephonic contact with the client to set up a meeting within the specified timeframes per the leads campaign agreement
• Based on the lead provided, assess the client's portfolio and identify possible gaps for which solutions can be formulated, prior to phoning the client
• Disclose all the relevant information to the client as required by the relevant legislative frameworks (e.g. FAIS Act) at the initial telephone call; to enable the client to make a decision on whether or not to proceed with the transaction
• Follow all the steps in the designated client engagement process as specified by Absa Insurance and Financial Advisers
• Provide regular feedback to the Team Leader on actions taken to progress the lead Closing leads appropriately, as per guidelines
• Provide the correct campaign product information at all times during client interactions
• Meet agreed sales targets and conversion ratios through contacting the required number of clients daily and making the required number of sales
• Manage rejections to ensure submitted sales become loaded sales
• Drive first contact resolution by applying sales techniques and objection handing whilst treating the customer fairly
• Meet sales and/or growth targets 

Outputs to deliver this accountability:

• Do activity planning grid with the team; by identifying the clients to be contacted during a particular period e.g. Campaigns
• Achieve daily, weekly and monthly new business and retention targets as per PD and as per campaign/ product.(including broker notes)
• Achieve daily, weekly and monthly activity targets such as number of calls made, number of leads worked and positive strike rate (positive outcome per campaign)
• Using the leads information provided by the Contact Centre, 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 acknowledge through voice-logging or 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
• 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
• Delight the client by being courteous and providing excellent service through prompt response to any queries or issues.
• Ensure that any documentation requests are dealt with timeously and that call backs are actioned on requested date and time
• 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 for processing
• 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 back to the product provider for the necessary amendments to be done 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
• Assist client at point of contact and if unable to assist, ensure that the client is referred to the correct channel as per the documented process
• Offer all relevant and up to date information on the product being offered to assist the client in making the most informed choice, such as explaining the types of cover being offered and what the benefits and features are of the product
• Ensure customer is treated fairly at all times during your interaction
• Meet and exceed quality assurance requirements relating to customer experience
• Provide a report back to the Contact Centre Manager and all Bank stakeholders on the strike rate (i.e. number of leads provided that were converted to business)
• Refer leads for Short Term Insurance to the relevant department; as necessary to grow the book of business
• Ensure that all Absa Group Compliance exams are completed timeously and the relevant pass mark achieved 

Outputs to deliver this accountability:

• Ensure that all Regulatory and Absa Group Compliance requirements are met by following the campaign sales output required to deliver on this accountability
• Scripts during interactions with the client
• Report any non-compliance issues such as non-adherence to scripts to line management Comply with regulatory requirements
• Manage own broker practice

Outputs to deliver this accountability:

• Ensure that staff members (Broker Assistants an Interns as relevant) have a clear understanding of their roles and responsibilities within the practice
• Arrange for staff members to receive the relevant training (Absa programs for the Interns) e.g. systems training, Broker Academy training (Interns)
• 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 Leader (Interns)
• Implement controls with regards to compliant record keeping in accordance with minimum Absa business standards (i.e. FAIS, FICA, FSB and Barclays)
• Liaise with Absa Brokers' Support staff (Business Analysts) with regards to maintenance of systems and equipment and provision of other services
• 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 and Regional Leader, if a Bank Broker, regarding non-interest income (seat cost) 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 Leader
• Personal Development

Outputs to deliver this accountability:

• Attend all the required training to attain accreditation to market the various products (product provider)
• Attend all the requisite internal training (i.e. Broker Academy, FAIS-related programs/courses)
• Attain the required FAIS credits in order to achieve Fit and Proper status
• Ensure that Fit and Proper status is maintained (honesty, integrity, financial solvency
• Manage own career and personal development
• Ensure that all personal details such as street address, contact numbers etc are up to date on the Employee Self Service portal (ESS) by updating them on ESS on a regular basis.
• Comply with house rules
• Meet required adherence & absenteeism requirements
• Proactively minimise costs to the organisation
• Work closely with other members of the unit to delivery outstanding performance
• Attend team buzz sessions and meetings and contribute fully, including suggestions for ways of improving customer service
• Support team by sharing knowledge & best practice

Education and Experience Required

• NQF level 4: Grade 12
• 60 FAIS credits at NQF Level 5 or in progress
• RE5 or in progress
• Working under Supervision as per FAIS Legislation
• 1 Year Experience in a similar role

Knowledge & Skills:

• Knowledge of the insurance industry
• Knowledge of financial management
• Telephone, email and video presentation Skills
• Interpersonal Skills
• People Management Skills
• Entrepreneurial Skills
• Effective relationship building skills
• Conflict Handling Skills required

Competencies:

• Achieving personal work goals and objectives
• Analysing
• Coping with pressures and setbacks
• Entrepreneurial and commercial thinking
• Deciding and initiating action
• Delivering results and meeting customer expectations
• Persuading and influencing
• Relating and networking

Education

• Further Education and Training Certificate (FETC)