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  • Posted: Jan 17, 2022
    Deadline: Not specified
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  • Absa Group Limited (Absa) has forged a new way of getting things done, driven by bravery and passion, with the readiness to realise the possibilities on our continent and beyond.
    Read more about this company

     

    Clerk Administrator Deceased Estates

    Job Summary

    To deliver operations and administration support services through the execution of predefined objectives as per agreed standard operating procedures (SOPs).

    Job Description

    An exciting role that focuses on operational excellence by ensuring seamless and timely processing of deceased portfolios, requiring the paying out of credit balances, issuance of Certificate of Balances (COBs) and closing of deceased accounts thereof. Provide support and guidance to the bereaved family members and executors. Exercise due diligence to mitigate risk, prevent financial loss, and to guard against compliance failure that could result in litigation, financial penalties, and reputational damage. | : | : | : | : | :

    Preparation of deceased files according to instructions within set timelines to meet clients' expectations:

    • Receive initial notification of death from executor by email.

    • Draw enquiries on clients portfolio by using CIF and BTP

    • Place hold by using BTP on all deceased clients portfolio's on notification of death

    • Change the address of the deceased estates portfolio on BTP, to ensure that executors’ correspondence, in future, are directed correctly.

    Accurately and efficiently attend to Generic Administrative functions for Deceased Estates:

    • Prepare the certificate of balance by extracting information on all deceased debit and credit accounts from BTP, annotate balance as at date of death and manually calculate the interest accrued.     

    • Prepare the income tax certificate by extracting information on all deceased debit and credit accounts from BTP; annotate balance as at date of death and manually calculating interest earned, during the current tax year, and for previous tax year certificates extract and print from BTP or archival system.

    • Forward the notification of death received from executor, by internal mail, email and fax, to all the relevant business units (i.e. AVAF, Credit Card, Fund Managers and Wills) within ABSA depending on accounts listed on the deceased clients’ portfolio.

    • Request all outstanding documentation by email from executors.

    • Ensure that telephonic communication with clients is handled professionally at all times and that accurate feedback is provided to the clients timeously.

    • On instruction from the executor, prepare accounts for closure by:

    • Extracting basic enquiries from CIF/ BTP for each account that should be closed,

    • Scrutinize enquiries for holds that prohibit closure and forward request to remove hold to relevant business unit e.g. Cheque book in library hold refer to Collection Branch

    • Security hold refer to Forensics Department telephonically. Bad debt and insolvency hold has to be referred to Third Party Management by Mail Message Service (MMS) on the Online Collection System (OCS) etc

    • Recover service charges from the deceased estate by either debiting the clients account, depending if funds are available, or sending a tax invoice to the executor

    • Transfer available funds from dormant accounts on deceased portfolio to unclaimed funds and inform Unclaimed Funds Department via email

    • Prepare payment for quality assurance and finalisation.

    • Adhere to all risk compliance requirements (e.g. information security) at all times and escalate irregularities to the Team Leader.

    • Analyse client queries e.g. new file, payment and policies to assist client correctly within the Service Level Agreement (SLA).

    • Perform on the job training to ensure operational competence when dealing with clients.

    • Ensure that deceased client’s portfolio is finalised by confirming that all accounts have been closed and closing statements provided.

    • Administer the release of securities and inform customers when the release request has been finalised

    Competencies:

    • Adapting and responding to change

    • Following instructions and procedures

    • Delivering results and meeting customer expectations

    • Coping with pressure and setbacks

    • Planning and organising

    MINIMUM REQUIREMENTS:

    • NQF Level 6 or equivalent

    Experience  required (Preferred)

    • Computer literate (MS Office)

    • BTP and OCS Experience

    • Basic telephone etiquette

    • 12 months Leanership exposure

    • Deceased estates

    WHAT’S ON OFFER

    • Great Team environment

    • Autonomy to produce excellent results and delight colleagues and customers.

    • Opportunity to influence and interact with senior management

    • Work in a multi –disciplinary environment

    • Opportunity to discover and learn

    Education

    National Diplomas and Advanced Certificates: 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

    Method of Application

    Interested and qualified? Go to Absa Group Limited (Absa) on absa.wd3.myworkdayjobs.com to apply

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