Careers at Absa Group Limited (Absa)

Job Summary

• To follow the six steps of financial planning in executing the role of a FAIS licensed financial adviser. A professional introduction must be made to introduce the adviser and the services offered by the adviser. Upon client approval the adviser may conduct a Financial Needs Analysis (FNA) in the disciplines of Investment, Life Insurance and Estate planning.
• Based on the concluded FNA to make recommendations to address single or multiple needs identified on behalf of the client.
• Advice recommendations will must be presented under the license categories for which the adviser is accredited Absa approved product(s) that are deemed will meet the needs of the client. On client acceptance of all or part of the advice, the adviser is required to implement the accepted advice through Absa’s new business processes. The adviser must conduct regularly review of the client needs to assess continued suitability of implemented solutions.
• In these reviews, new needs may be addressed and changes to existing plans be proposed to ensure continued solutioning of client needs. Adviser must continue to ensure ongoing Fit and Proper status to enable them to offer services under an Absa advice license.

Job Description

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

• Participate in reciprocal leads activities and sales/pipeline meetings to identify opportunities for new or repeat business, and fully utilising Absa’s bancassurance structure.
• Assess client’s needs through use of recommended needs analysis tools, ensuring that the client is aware of the full value proposition offered by AIFA.
• Prepare recommendation and quote for appropriate risk and investment solutions based on the client’s individual needs and profile.
• Present recommendation to clients, ensuring that all FAIS regulations are followed regarding advice given.
• 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 Everyday Banking (PGM’s and Regional Managers) and elsewhere by attending their meetings and social gatherings 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 in conjunction with Everyday Advice Executive.
• Using the leads information provided by the source and or Regional Manager listings, as well as leads sourced through own prospecting activities and determine the client's financial needs.
• Make exclusive use of Absa’s Financial Needs Analysis tool (Avalon from Aug 2024 onwards) to conduct a comprehensive Financial Needs Analysis for the client.
• Obtain the client's consent to access his/her existing policy information by getting him/her to sign the relevant documents to get a comprehensive view of the client's financial needs.
• Discuss various possible solutions and options available with the client and thereafter recommend the most appropriate products and or solution(s) to address financial needs.
• Generate and discuss a formal recommendation including product quote(s) for the client.
• On acceptance of part or all the advice recommendations, complete the necessary product application forms and ensure that the client signs the forms to indicate his/her consent to engage in a transaction(s).
• Gather, generate, 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.
• Ensure that the issued policy aligns to the recommended product.
• Review the client's portfolio at a minimum of once a year and contact the client based on the adviser and client agreed contact strategy to maintain a healthy client relationship.
• Provide a report back to the Regional Manager and Everyday Banking stakeholders on the strike rate (i.e., the number of leads provided that were converted to business) where applicable.
• Seek business opportunities from external sources as necessary to grow the book of business and reciprocate leads to Regional Managers and PGM’s.

Accountability: Manage own commission earnings

• Capture the correct Policy Relevant Information (PRI) number on the Commission 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 the adviser practice.
• Arrange for staff members to receive the relevant training (Absa programs for the Interns) e.g., systems training, product training and operational training.
• Provide coaching and mentoring to assistant(s) with regards to facilitate knowledge and skills development.
• Participate performance development (PD) discussions as required by the Absa performance management standards.
• 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 and)
• Liaise with  Provincial Operations Office) 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).
• Remain fit and proper as required for FAIS flagged roles.
• Provide monthly feedback to the branch, and Business Bank, regarding non-interest income (seat costs) and cross-selling opportunities
• Segment the client base according to profile, income potential and commission income.
• Engage with business development strategies with the support of the Regional Manager and our practice management subject matter experts to maximise the sustainability of the adviser practice

Accountability: Personal Development

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

Education

• Bachelor`s Degrees and Advanced Diplomas: Accounting, National Senior Certificate/ Matric (Grade 12)

End Date: December 31, 2024

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Job Summary

• To process bank teller transactions accurately and timeously through the execution of predefined objectives, ensuring that customers are assisted promptly and in a friendly manner.. Selecting this role has a compensation & benefit impact in Kenya, TZ (NBC), Mozambique. Please contact Reward for details.

Job Description

Execute cash & related transactions:

• Throughout each day, balance, control and manage the cash float by checking the amount of cash at the teller station and requesting the restocking or repatriation of cash when prescribed cash limits are reached
• Dispense and receive physical cash, cheques, travellers cheques, drafts and other financial instruments over the counter to walk in customers
• Process and encash cheques presented by customers for deposit or pay-out after checking identification, account details and other prescribed controls.
• Be vigilant for fraudulent or suspicious activities and report all concerns to the team leader or branch manager before processing the transaction or dispensing the cash
• Adherence to policies especially when handling with cheques, notes, ID’s, etc, under the 2 ID Buddy to prevent fraud.
• Refer any transactions in excess of teller mandate limits to a mandated official and / or line manager for authorisation
• Capture all transactions on the Bank system and ensure that all transactions are properly authorised before finalising the processing
• Carefully count all cash received or dispensed to ensure that errors are avoided by making use of the applicable cash counting equipment in your branch Reconcile own cash at the beginning and end of each day as well as when cash is restocked during the day.
• Prepare reconciliation reports for audit and management review purposes
• Ensure that journals are processed to recover charges for manual transactions processed for customers
• Ensure adherence to the SARB minimum requirements

Customer Service:

• Provide advice to customers on the cash and other transactions processes to ensure the smooth flow of transactions
• Exhaust all attempts to resolve customer enquiries before escalating to other departments or the line manager
• Provide Regular feedback to customers on the progress of their enquiries Explain the Bank’s procedures, security requirements (such as ID requirements when transacting) as well as service offerings available to customers Rep0rt customer complaints on the Bank’s Customer Care process (CCP) to facilitate feedback to improve service to customers
• Guide customers on how to correctly complete transaction documentation such as deposits, withdrawals, cheque requisition slips to ensure accuracy and completeness of these documents
• Ensure accuracy and efficiency when engaging with the customer. Ensure friendly, focussed customer interaction at all times
• Portray a professional image and ensure that personal appearance conforms to Absa Corporate Image standards
• Ensure adherence to the Corporate Wear policy Maintain a neat and tidy workstation at all times Pro-actively arrange your workspace to ensure sufficient stationary is in place prior to the branch opening.
• Regularly read the pricing documents relating to Teller transactions to assist clients with better solutions for their transactions and also benefit at the end of the day
• Adhere to the policy and procedure on the issuing of pins and statements in order to solution the customer at point of contact.
• Ensure migration of clients with CW transactions less than R4000 and CD of less than R8000 to Digital & Self-help channels and provide the necessary assistance.
• Maintain speed and agility at all times when assisting clients in order to minimise shortages and surpluses.
• Market products by giving out booklets or pamphlets to customers drawing large amounts of money and educate them of alternative ways on transacting.
• Educate customers on the use of the Internet Kiosk.

Identifying sales leads:

• Identify and action sales leads (teller prompts) and cross selling opportunities
• Explain the campaign details, during sales campaigns in brief and direct to clients to Sales Consultants for further information
• Effectively use of sales tools (e.g. teller prompts) in order to ensure the provision of leads to contribute to Branch Sales
• Take responsibility of own sales targets and assist daily by providing client solutioning according to their product needs
• Capture all other leads on SMD once agreed by client Follow up all leads with Sales Consultants on SMD to make sure clients are contacted

Compliance and Risk Management:

• Open & close the branch safe according to the Bank’s procedures, including physically securing the safe according to required procedures
• Conduct cash counts and visual checks as assigned by the line manager from time to time
• Ensure that all transaction records are kept and / or mailed in accordance with Bank procedures
• Keep transactions records available for control purposes Before processing transactions, verify that all information is accurate and complete in accordance with the Bank’s procedure.
• Refer any concerns to the line manager for follow up and decision making on whether to proceed
• Follow cash management procedures and limits as prescribed Familiarise with content of all communication, i.e. circulars, bulletins, risk day agenda’s and alerts, etc.
• Adhere to prescribed control measures to prevent fraud, losses and shortages
• Report suspicious transactions as per Money Laundering control frameworks Complete and maintain applicable registers (Teller and Key registers)
• Adhere to safety and security procedures and follow prescribed instructions in event of robbery Cubicles, teller drawers and workstations to be kept locked when leaving workstation
• Follow off-line procedures and comply with all regulatory and compliance requirements
• Manage security items i.e. Cash, Teller stamps, Safe keys, combinations and FBSS cards in line with policies and procedures Up skill your knowledge regularly with policies and procedures regarding your daily teller duties, cheques, Fraud, Foreign Exchange, this will help you also to prevent fraud
• Ensure up-skilling on fault reporting and testing processes & procedures of Equipment used at teller environment i.e. note & coin counters, TCR Machines, etc.
• Adhere to end of day procedures (ABSA 3368) Adhere to Branch Paper mandate when processing and / or authorising transactions, ensure processing within correct limits & mandates

Education

• Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)

End Date: December 23, 2024

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Job Summary

• The role entails the validation of models, focusing on identifying, mitigating and monitoring of key model risks. You will conduct validations on a diverse range of models mainly traded market risk models, produce validation reports, negotiate the findings & actions with internal & external stakeholders and influence the continuous improvement of model quality & use. These areas make use of a wide range of models (Regulatory Capital, Economic Capital, impairments, pricing, behavioral, application, stress-testing, valuation, derivatives, insurance risk, etc.) and cover products used across all of AGL’s business units. Opportunities to gain experience across validation teams and within the greater Model Risk team are possible and encouraged by management.
• Risk and Control: Comply with Absa’s Model Risk Governance, adhere to Policies, Procedures and Regulations and to ensure that our models perform as expected throughout their life cycle, identify limitations of our model and perform adequate monitoring if required. This position is instrumental in ensuring that we adhere to our governance on models, identify any shortcomings in our models, document our reviews, work with the Quant and Market Risk teams to define resolution & / or monitoring of our limitations. In addition, the Senior Model Risk Analyst will build further knowledge on the models, the asset dynamics, trading strategy and will periodically assess the model changes in line with market dynamics and regulatory landscape changes.
• Risk Management: Providing Subject Matter Expertise to Risk types
• Stakeholder Management: Build and Maintain effective Relationships with relevant stakeholders
• Risk Reporting: Identify, assess and Report key risks arising from significant events, investigations, audit and control issues

Job Description

Accountabilities:

• Validate and execute validations assigned to you by following each validation stage in accordance with the IVU process. Specifically, ensure that timeous and complete validation submissions are received from MO/MD.
• Set up feedback sessions/checkpoints, implement all feedback, or acknowledge and reason why feedback was not implemented (consider amount of feedback / manager involvement).
• Complete validations on time according to the IVU planning schedule.
• Use agreed validations templates and tools (IVU process, validation report template, submission requirements table, GMRP, validation tests).
• Validate models in accordance with internal and external requirements (e.g. GMRP and associated standards, Basel regulations, Prudential Authority regulations, IFRS9).
• Strive for a computationally accurate validation analysis which does not require recalculation as part of management review.
• Focus on Critical, Major, Moderate (CMM) findings and minimize the number of CMM findings missed as part of the validation.
• Ensure that all findings that are resolved are evidenced and that you have checked and recorded as such.
• Give input into the following processes: Prudential Authority Self-Assessment, Audits, etc.
• Review the calculation of Post Model Adjustments (PMAs) and Capital Adjustments made to regulatory capital and IFRS9 models.
• Deliver ad-hoc and management requests timeously and to the required standard of quality
• Either address (where able and competent) or escalate material concerns or bottlenecks to VL/VS (or relevant stakeholder) as early as possible to enable actions to be taken pre-emptively.
• Constructively challenge models and related processes. Engage with the stakeholders to get their perspective.
• On an ongoing basis, interact with internal stakeholders (e.g. model developers, Absa Group IVU colleagues, model owners, model monitoring, model implementation, business representatives, etc.) to ensure common understanding of findings and concepts.
• Guide internal counterparties through relevant regulatory, policies, standards, sites and governance requirements.
• Contribute to the technical and strategic decisions/discussions in meetings, knowledge share sessions, business meetings, committees and forums
• Clearly document model validation recommendations/findings and relevance thereof to model use and portfolio decision making. Agree resolution actions and resolution timelines with affected counterparties and document these in the validation report.
• Strive to produce a quality validation report requiring minimum corrections as part of management review. Ensure the report is palatable for the intended audience.
• Ensure that MRM, for models used in Absa Group, is updated after inception and periodic validations.
• Seek to develop one’s technical knowledge, regulatory/policy knowledge and softer skills independently from scheduled team training.
• Shares own knowledge on informal and formal basis; support team’s overall development.
• Strive to perform the validation work required through the VA, and not just through own competence.
• Create a positive, engaging and challenging working environment.
• Drive best practice sharing and standardization across Absa Group.
• Proactively identify and escalate any conceptual or big picture risks in respect of IVU and Absa Group.
• Facilitate investigation and implementation of controls within other units to maximize early detection and mitigation of model risk.
• Strive to receive regular 360 feedback to facilitate sight of blind spots and develop oneself.
• Deliver independently from management oversight. Actively seek to understand management and stakeholders need first, communicate to be aware of changes in needs and deliver to meet these needs.
• Attend and actively participate in citizenship/training events.
• Deliver and support manager on ad hoc requests.
• Ensure simple administrative issues are addressed adequately and within agreed timelines - such as PD process, completion of assigned training etc.
• Behaviorally, focus on the following:
  • Be objective and factual in terms of one’s opinion/communications.
  • Be open-minded in interactions. Be prepared to listen and be challenged.
  • Be supportive and helpful.
  • Be risk-focused.
  • Understand stakeholders’ needs
• Deliver through people and not just through own competence. Drive individual and team development through training, support and individual’s overall development.
• Ensure validations assigned to you, as validation lead, follow each validation stage in accordance to the IVU process.
• Set up feedback sessions/checkpoints, implement all feedback, or acknowledge and reason why feedback was not implemented (consider amount of feedback / VS involvement).
• Accountability for project milestone, control and outcome management.
• Provide guidance to validation team members performing validations. Be consistent in terms of guidance and standards.
• Strive for a computationally accurate validation analysis which does not require recalculation as part of management review.
• Review validation tests as completed by VA and ensure all testing areas are adequately assessed.
• Review validation reports for completeness, accuracy and relevance, ensuring a quality report requiring minimum corrections as part of VS review.
• Understand my role in the business end to end processes, including applicable risks and controls and how this improves the service we provide to our customers
• Adhere to Absa frameworks, policies and procedures applicable to my role, demonstrating sound judgement and responsible risk management, and when required highlight breaches and request dispensations & waivers on a timely basis
• Report all risk events/incidents/issues immediately upon discovery and escalate significant events/incidents/issues using the defined process for my business area
• Help to understand why risk events/incidents/issues happened and identify how to prevent them in future - focusing on fixing root causes and taking ownership of identified actions
• Proactively identify ways to improve the control environment by considering what could go wrong in the processes I operate and how errors could be prevented - focusing on fixing root causes and taking ownership of identified actions. Complete all mandatory training to deadline
• Identify the model risks as part of the model validation review.
• Challenge the model assumptions where necessary based on the lifecycle of the model.
• Design materiality assessments and monitoring with Quant Risk team when some limitations can’t be addressed in the model
• Develop a holistic approach in the model representation where some aspects can be mitigated through representation outside the model
• Develop a thorough understanding of physical operational constraints and be able to see how these are represented – when necessary – in the model representation.
• Propose limitations and discuss the resolutions with the Quant Risk, Business and Product Risk depending on the resolution type (booking, marking etc.)
• Perform performance review of the model as per the tests defined in the model (convergence tests etc.)
• Ensure proper documentation, version control, and validation of models to maintain a clear audit trail
• Prepare reports and presentations for senior management, auditors, and regulatory bodies regarding model risk, performance, and compliance.
• Strong relationship management and liaison with business stakeholders of all levels. But must be willing to challenge as needed, particularly front office.
• Must be dedicated to information integrity and to producing high quality and insightful output and hitting deadlines where applicable. Must be prepared to go into as much detail as is required to resolve issues. Must be capable of working very productively using time very efficiently.
• Good presentation and communication skills, with the ability to present complex model risk findings and propose resolution pragmatically in taking into account the organizational setup.

Work Experience & Skills Requirements:

• Proven, relevant experience in markets with good knowledge of the markets, products and risk.
• A minimum of 6-8 years of experience in market risk, model risk management, validation, and control
• Good quantitative level of experience with products and their risks.
• Experience with traded market risk models (Delta1, Vanilla Options, Exotics), curve models (OIS, SOFR, ZARONIA, Multicurve calibrations and PnL attributions), volatility models (Local vol models, Local Stochastic vol models – Dupire, Heston, SABR)
• Experience with regulatory frameworks (Basel) relevant to Market Risk, such as FRTB, VaR, Reg CVA, Initial margin, CCR, Leverage Ratio, Stress testing, etc.
• Experience with derivatives pricing models/frameworks and valuation adjustments – Black Scholes, HJM, xVA, Monte-Carlo methods.
• Exposure analytics and simulations – Expected Exposure (EE), Expected Positive/Negative Exposure (EPE, ENE), Potential Future Exposure (PFE), etc.
• Experience with Excel, Python, C# and ability to implement/code regulatory models, derivatives pricing exposure simulations and valuation adjustments (xVAs).
• High level of accuracy and details understanding whilst able to understand the intricacies of different review levels based on the models’ complexities and materiality.
• Ability to work under pressure in a fast-paced and highly regulated environment.
• Flexibility and willingness to adapt to changing regulatory and business needs.

Qualifications:

• Honours degree in quantitative disciplines such as Economics, Mathematics, Actuarial Science, Statistics, or Financial Engineering
• PhD or MSc Finance/Financial Engineering/Mathematical Finance can be useful.
• Additional qualifications such as CQF and/or FRM can be useful.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

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Job Summary

• The vacancy requires minimum 3 years experience as a specialist actuary to perform short-term actuarial pricing, guiding strategic initiatives through data and making actionable recommendations.

Job Description

• The vacancy requires minimum 3 years experience as a specialist actuarial to perform short-term actuarial pricing, guiding strategic initiatives through data and making actionable recommendations. Education, must have more than 9 actuarial exams completed.
• Administrative and operations support: Provide Actuarial administrative and operations support against standard operating procedures
• Ad Hoc duties: Provide support to customers and team as required on an ongoing basis | Compliance and Risk Management: Fulfil all activities in adherence to relevant control and compliance requirements, and quality standards

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

End Date: December 20, 2024

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Job Summary

• Provides financial services to meet client specific needs to promote, market and sell Financial Solutions in accordance with relevant legislation, to meet sales targets and achieve strategic business objectives.

Job Description

• Sales Target : Proactively make self-initiated contact with customers in order to deliver against the required sales targets
• Collaboration : Constantly seek to improve ways of working by challenging the status quo and supporting an empowering climate within the team, sharing knowledge, experience, best practice and providing constructive feedback as required.
• Compliance and Risk Management: Fulfil all activities in adherence to relevant control and compliance requirements, and quality standards
• Customer Experience: To provide service excellence and achieve customer satisfaction 

Education

• Further Education and Training Certificate (FETC): Business, Commerce and Management Studies

End Date: December 20, 2024 

go to method of application »

Job Summary

• Provides financial services to meet client specific needs to promote, market and sell Financial Solutions in accordance with relevant legislation, to meet sales targets and achieve strategic business objectives.

Job Description

• Sales Target : Proactively make self-initiated contact with customers in order to deliver against the required sales targets
• Collaboration : Constantly seek to improve ways of working by challenging the status quo and supporting an empowering climate within the team, sharing knowledge, experience, best practice and providing constructive feedback as required.
• Compliance and Risk Management: Fulfil all activities in adherence to relevant control and compliance requirements, and quality standards | Customer Experience: To provide service excellence and achieve customer satisfaction 

Education

• Further Education and Training Certificate (FETC): Business, Commerce and Management Studies

End Date: December 20, 2024 

go to method of application »

Job Summary

• To grow the Absa customer base through acquisition and increased customer profitability of the identified portfolio. Gain new customers and increase port folios of current customers through proactive attraction, cross selling, retention and contributing towards the achievement of the branch’s sales targets.

Job Description

• Financial Goals Business Risk Customer Satisfaction Colleague Support

Education

• Further Education and Training Certificate (FETC)

End Date: December 20, 2024

go to method of application »

Job Summary

• Provides financial services to meet client specific needs to promote, market and sell Financial Solutions in accordance with relevant legislation, to meet sales targets and achieve strategic business objectives.

Job Description

• Sales Target : Proactively make self-initiated contact with customers in order to deliver against the required sales targets
• Collaboration : Constantly seek to improve ways of working by challenging the status quo and supporting an empowering climate within the team, sharing knowledge, experience, best practice and providing constructive feedback as required.
• Compliance and Risk Management: Fulfil all activities in adherence to relevant control and compliance requirements, and quality standards | Customer Experience: To provide service excellence and achieve customer satisfaction 

Education

• Further Education and Training Certificate (FETC): Business, Commerce and Management Studies

End Date: December 20, 2024