Entry Level Specialist: Operations

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Job Summary

To administer deceased estates ranking from normal to more complex estates which might involve Capital Gain Tax and Estate Duty.

Job Description

Accountability: Administration of deceased estates

Outputs to deliver this accountability:

• Receive completed deceased estate reporting documents from the Fiduciary

Consultants and or Lean system and make telephonic contact with the client.

• Manual intake of estates.
• Report the deceased estate to all relevant stakeholders via written correspondence,

newspaper and Government Gazette (Master of the High Court, SARS, banks,

insurance 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. advertise in the local newspaper and Government Gazette) and for any debtors /

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

redeeming and transferring assets e.g. all assets in the name of the deceased which

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

assets and liabilities as at date of death and submit any outstanding tax returns to

SARS.

• Advertise (for twenty one (21) days) the Liquidation and Distribution account (section

5 notification) in the local newspaper / Government Gazette and with the Magistrate

in 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 transfer documents with the Deeds Office to transfer fixed property into the

heirs names and ensure completion thereof.

• Obtain final tax assessment from SARS and finalise the deceased estate, by paying

out the amount previously reserved in the cash statement for finalisation of the

estate.

• Achieve set target as set out by management at the beginning of the year by taking in

the executor's fees within the company norms.

• Ensure that all post (incoming mail, fax and correspondence) and filing is up to date

as per the company norms (three days turnaround time) and report any irregularities

(e.g. 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

(telephonically, written correspondence, etc.) in a professional manner to ensure that

a high 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, attorneys, Master of the High Court, South African Revenue Service) by

continuously engaging and ensuring satisfactory client service and good relations

• Ensure that queries do not turn into complaints by addressing these within a period

of twenty four hours.

Accountability: Compliance

Outputs to deliver this accountability:

• Adhere to ABSA compliance requirements and industry related legislations in order to

maintain a high standard of service

• Adhere to business processes and controls practice; nonadherence may lead to

disciplinary actions

• Complete all compulsory compliance and legislation training within the required timeframes

as prescribed by Absa Risk

• Adhere to risk and compliance policies in terms of Environmental Health and Safety,

Information Security, Records

• Management and Money Laundering, Sanctions etc. Nonadherence to Absa's Policy

& Procedures may lead to disciplinary action

• Be knowledgeable on the Estate Administration Act, in order to comply with all the

legal aspects in deceased estates.

Education

Further Education and Training Certificate (FETC): 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