The Sanlam Personal Finance (SPF) cluster is responsible for Sanlam’s retail business in South Africa. SPF provides clients across different market segments (entry-level, middle-income, affluent, professional market and business owners) with a comprehensive range of appropriate and competitive financial solutions.
These include traditional life insurance risk and savings products, investment, retirement, health and fiduciary services.
Designed to facilitate long-term wealth creation, protection and niche financing, these solutions are engineered around client needs.
What will you do? Outputs / Tasks :
Checking and approving annual trust reviews.
Checking and approving trust tax certificates.
Daily checking of critical processes such as fees, overnight transactions, bank details changes etc.
Dynamic Risk Assessment of all new clients.
Quality checking of drafting team’s work with reference to new trust deeds and amendments.
Ensure compliance with legislation, e.g. FICA, FAIS, SARS, Exchange Control, TCF, POPPI, Party Due Diligence, etc.
Acceptance process for new testamentary trusts, including reconciliation of assets and recordkeeping.
Quality checking of all new accounts, additional capital received, terminations and fee calculations, and beneficiary detail changes.
Approval of rebalancing of trust investments.
Approval of payments and terminations in accordance with the approval framework of Sanlam Trust.
Monthly feedback to Finance on fee deviations.
Authorising daily payments (1st or 2nd approval).
Monthly commission and drafting team analysis reports.
Identification of possible risks in the department and ensuring that those risks are addressed.
Training if necessary to trust team.
Updating of processes and checklists.
Attendance of National Review Committee and Investment meetings.
Provide auditors with required documentation when samples are requested.
Responsible for Quality and Control Officer and annual plan of the sub-team.
What will make you successful in this role? Requirements : Qualifications :
LLB / B Com Law / Trustee Diploma or relevant Trust qualification.
CFP will be an advantage.
5 years’ relevant experience within a testamentary and inter vivos trusts environment.
Exposure to identification of risks.
Tax legislation pertaining to testamentary and inter vivos trusts
Trust Property Control Act 1988
Administration of Estates Act 66 / 65
Knowledge of management processes
Knowledge of Accounting principles
Concern for accuracy
Plans and aligns
Computer skills (MS Office with exposure to electronic mail and communication systems).