Junior Specialist: Operations - Cape Town, South Africa - Absa Bank Limited
Description
Bring your possibility to life Define your career with us- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
To administer the Deceased Estates of high-net worth clients in respect of Estates over R1 million and complicated Estates which involve Capital Gain, Estate Duty, Farms & Companies.
Job Description:
Accountability:
Administration of deceased estates
Outputs to deliver this accountability:
- Receive leads from Fiduciary Consultants within Absa Trust / Brokers and/or incoming
Private Bank that require assistance in processing Deceased Estate.
- Arrange meetings with clients to personally discuss the Deceased Estate and establish
held at the date of death. This information deceased at the initial meeting
- Analyse the content of the Will to establish whether it is executable or not (e.g. Farm
of After analysing the Will consider possible solutions and make suggestions to
the client (i.e. Redistribution agreement, Close Corporations, Companies / Deed of
Election / Possible cash shortfall, Estate duty payable, possible Capital Gains Tax
implications).
- Report the deceased estate to all relevant stakeholders via written correspondence,
companies, auditors), to obtain Letters of Executorships, certificate of balance,
evaluations of shares, deeds search, outstanding tax returns, membership of interest in
close corporation. (In terms of the Estate Administrations Act the executor cannot
administer an estate until they are in receipt of this documentation).
- On receipt of Letter of Executorship from the Master of the High Court; advertise (e.g.
creditors (section 29 notification) in respect of the estate late to submit their claims
within thirty days of date of advertisement.
- Receive all relevant information as requested by the various stakeholders and start
cannot be transferred must be redeemed and it is dependable on the instructions from
the heirs / cash shortfall on the estate.
- Draft the liquidation and distribution account to reveal the true reflection of all the
- Advertise (for twenty one (21) days) the Liquidation and Distribution account (section 5
the district were the deceased resided twelve (12) months prior to date of death and
lodge the Liquidation and Distribution account with the Master of the High Court to
attain approvals on the account / estate duty assessment to ensure the executor has
adhered to its duties in terms of the Will.
- Instruct the Absa panel attorneys on the expiry date of the advertisement to lodge the
and ensure completion thereof.
- Obtain final tax assessment from SARS and finalise the deceased estate, by paying out
- Achieve set target as set out by management at the beginning of the year by taking in
- Ensure that all post (incoming mail, fax and correspondence) and filing is up to date as
backlog of filing / post) to management timeously.
Accountability:
Customer service
Outputs to deliver this accountability:
- Keep clients updated on progress of the estate by reporting on a monthly basis
standard of customer service is given.
Maintain a high standard of service during the administration process without any
supervision, by providing excellent customer service and immediate attention to client needs
- Build and maintain a relationship with various stakeholders (i.e. valuators, auctioneers,
engaging and ensuring satisfactory client service and good relations
- Ensure that queries do not turn into complaints by addressing these within a period of
Accountability:
Compliance
Outputs to deliver this account
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