Trust Officer at Absa South Africa

Job Summary

• General Administration of Trusts:
• Stay updated on relevant knowledge and skills by reviewing communications from the legal department and attending informative sessions.
• Review and approve information captured in newly opened trust files, ensuring accuracy according to the Will or Trust Deed.
• Prepare and submit letters to SARS for taxpayer registration, as well as welcome letters and needs analysis forms to clients.
• Provide security to the Master of the High Court when required, completing necessary documentation and arranging insurance.
• Manage legal operations of trusts, including obtaining Letters of Authority from the Master of the High Court.
• Arrange insurance for trust assets and ensure timely payment of premiums.
• Handle property-related matters such as rates, taxes, tenant management, and asset transfer and insurance.
• Prepare and manage monthly debit orders for client allowances and handle ad-hoc payments.
• Evaluate client requests, prepare recommendations, and facilitate payments, ensuring adherence to trust guidelines.

Job Description

Client Services:

• Interact with walk-in and telephone clients, addressing inquiries and discussing trust matters.
• Respond to client requests and queries via various communication channels, ensuring timely resolution and payments.
• Keep clients informed of trust fund processes, procedures, and progressions.

Investments:

• Create and review investment proposals, ensuring compliance with regulations and trust guidelines.
• Present investment proposals to the Investment Committee and oversee implementation of approved investments.
• Maintain accurate records of investments and file proposals for record-keeping purposes.

Check Accuracy of Risks/Reports:

• Verify risk reports and reconcile discrepancies, correcting transactions and details as necessary.
• Ensure timely submission of reports to management and implement correction measures where needed.

Formulate Year-End Statements:

• Check accuracy of financial statements, prepare manual statements if necessary, and ensure timely distribution to beneficiaries.
• Verify tax schedules and certificates of maintenance and follow up on outstanding addresses and returned mail.
• Ensure compliance with year-end statement procedures outlined in the Trust Manual.

SARS E-filing:

• Submit annual and provisional tax returns for trusts, verify assessments from SARS, and maintain accurate records for audit purposes.
• Manage payments to SARS and ensure compliance with tax deadlines and regulations.

Additional Responsibilities:

• Perform other duties as assigned by management.
• Education and Experience Required
• NQF Level 6: B Degree
• B degree in Law (NQF level 6) (Preferred)
• Estate and Trust Diploma (NQF level 5) (Preferred)
•  Certificate in Deceased Estates Administration via LEAD (NQF level 7) (Preferred)
• Advanced Estate and Trust Diploma (NQF level 6) (Preferred)
•  Two (2) years’ experience in the fiduciary environment as trust officer (Essential)
• Three (3) years’ experience in the trust environment (Essential)

Education

• Further Education and Training Certificate (FETC): Financial Sciences (Required)