Specialist: Trust Administration

Job Summary

• Manage the end-to-end administration of legal claims trusts and other complex trusts from acceptance through to termination.
• Open trust accounts, capture trusts on relevant systems and ensure all onboarding requirements are completed within prescribed service levels.
• Prepare and distribute welcome letters, needs analysis documentation and other onboarding communications.
• Ensure all statutory and supporting documentation is submitted to the Master of the High Court.
• Provide security to the Master of the High Court by arranging insurance guarantees and premium payments.
• Manage beneficiary payments, monthly allowances and ad hoc distributions accurately and timeously.
• Conduct annual trust reviews and prepare management review reports.
• Initiate and manage trust termination processes, including preparation of final accounts, settlement of liabilities, distribution of assets and archiving of records.
• Maintain complete, accurate and compliant trust records and documentation.

• Ensure that trusts are registered as taxpayers with SARS.
• Manage trust tax administration, including:
  • SARS e-Filing administration
  • Provisional and annual tax return submissions
  • IT3(t) submissions
  • Tax assessments and reconciliations
  • Tax payment instructions
  • SARS correspondence and audits
• Maintain comprehensive tax records and supporting documentation.
• Ensure all statutory submissions are completed within prescribed deadlines.
• Ensure compliance with:
  • Trust Property Control Act
  • Income Tax legislation
  • FAIS requirements
  • FICA and KYC requirements
  • POPIA requirements
  • Internal policies and procedures.

• Review trust investment portfolios regularly to ensure compliance with trust deeds, legislation and investment policies.
• Analyse investment performance and prepare recommendations for Investment Committee approval.
• Develop and submit investment proposals for newly received trust funds.
• Instruct administration teams and service providers regarding approved investments.
• Maintain accurate investment records and supporting documentation.
• Manage trust liquidity requirements through proactive planning and coordination with investment managers.
• Arrange the timely realization of investments to meet beneficiary and trust obligations.
• Manage and protect trust assets, including fixed property portfolios.

• Arrange and maintain insurance cover for trust-owned properties and assets.
• Monitor insurance adequacy and ensure annual premium payments are made timeously.
• Liaise with insurers, brokers and service providers regarding policy administration and claims.
• Ensure all trust assets are managed in accordance with the Trust Deed and fiduciary obligations.

• Calculate, verify and instruct all applicable trust fees, including:
  • Acceptance & Set up fees
  • Management fees
  • Distribution & Termination fees
  • Tax administration & Compliance fees
  • Other permissible trust charges
• Monitor monthly fee generation and identify revenue leakage.
• Reconcile trust accounts and investigate exceptions identified through risk and reconciliation reports.
• Prepare and verify annual financial statements and distribute these to beneficiaries and relevant stakeholders.
• Manage trust balances and ensure excess balances are addressed within prescribed service standards.
• Contribute to the achievement of regional and business financial targets.

• Maintain proactive relationships with:
  • Beneficiaries
  • Trustees and co-trustees
  • Attorneys
  • RAF representatives
  • Case managers
  • Caregivers
  • Municipalities
  • Investment managers
  • Brokers
  • Insurers
  • Regulatory authorities
• Develop stakeholder engagement plans for allocated trusts.
• Respond to queries professionally and within agreed turnaround times.
• Resolve complaints efficiently and contribute to positive client outcomes.
• Ensure regular communication and reporting to clients and stakeholders.

• Apply sound fiduciary judgement and risk management principles in all activities.
• Adhere to governance frameworks, policies, procedures and delegated authorities.
• Perform reconciliations and control checks within required timelines.
• Identify, escalate and mitigate operational, regulatory and financial risks.
• Ensure satisfactory audit, assurance and control review outcomes.
• Maintain accurate document management and record retention practices.
• Report and investigate incidents, errors and control breakdowns.

• Execute tasks accurately and within agreed service levels.
• Identify opportunities to improve processes, controls and service delivery.
• Minimise errors, rework and operational losses through adherence to procedures.
• Support operational efficiency initiatives and process enhancement projects.
• Participate in system testing, project implementation and user acceptance testing where required.
• Assist in implementing digital solutions and new technologies.

• Mentor and support junior Trust Officers and team members.
• Share technical expertise relating to trust administration, tax, investments and fiduciary services.
• Assist with payment approvals within delegated authority.
• Participate actively in training, coaching and development initiatives.
• Take ownership of personal and professional development.
• Contribute positively to team engagement, collaboration and performance.

• Align daily activities with business objectives and team priorities.
• Deliver work accurately and within agreed timelines.
• Escalate risks and constraints that may impact delivery.

• Deliver service excellence consistently.
• Resolve client queries and complaints effectively.
• Promote fair customer outcomes.

• Support achievement of revenue and profitability targets.
• Maximise fee recovery and minimise revenue leakage.
• Improve productivity and efficiency.

• Adopt new processes and technologies.
• Contribute ideas for service and process enhancement.
• Participate in change initiatives and projects.

• Maintain accurate records and reporting.
• Follow established procedures and controls.
• Identify and address operational risks.

• Effectively utilise digital platforms and systems.
• Promote digital efficiencies.
• Report system issues promptly.

• Comply with all applicable regulatory and internal requirements.
• Complete mandatory training.
• Report irregularities and compliance breaches.

• Maintain data accuracy, integrity and confidentiality.
• Utilise available information to support decision-making.
• Ensure secure handling of client and trust information.

• Build effective internal and external relationships.
• Collaborate across functional teams.
• Represent the Trust business professionally at all times.

- National Diplomas and Advanced Certificates: Estate and Trust Management, or
- National Diplomas and Advanced Certificates: Financial Planning, or
- National Diplomas and Advanced Certificates: Law, or
- National Senior Certificate/ Matric (Grade 12)

- 3 - 5 years of experience in a relevant operational or support role.
- Experience in customer service, administration, or process execution is preferred.

Collaboration
Compliance Awareness
Continuous Improvement
Customer Interaction Management
Data Entry
Digital Platforms
Interpersonal Effectiveness
Operational Procedures
Records Management
Risk Awareness
Service Standards
Collaboration
Communication
Critical Thinking
Decision Making
Delivering Results
Learning

Education

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