Manager: Trust and Estates
2 November 2021
Job category: Underwriting
EE position: No
Responsible for ensuring that the administration and management of the trusts and estates department is done in a correct and professional manner thus ensuring the smooth running of the department
Key Performance Areas (KPAs)
Administration of Estate Management
Ensure that new estates are assigned as follows:
- Workload of personnel.
- Complexity and comprehensiveness of estates.
- Competency of staff.
- Priorities of estates.
Ensure that the estate workload is evenly distributed to:
- Ensure correct and timeous completion.
- Enhance staff’s competency development.
- Avoid complaints from staff about the workload assigned and the complexity of estates assigned to them.
Ensure that the management and supervision of estates comprise:
- Guidance of staff to make the correct decisions regarding, for example the interpretation/application of the Estates Act, redistribution of assets, etc.
- Checking Liquidation and Distribution accounts for correctness.
- Advising/informing beneficiaries about legal and technical aspects of estates.
- Timeous execution of phases of estate administration, for example:
- That the process is initiated within 7 days after notification
- The liquidation process is initiated within 3 days after being appointed as an executor
- L & D accounts are submitted within 21 days after expiry of the debtors and creditors advertisements.
- Ensure that most of the time correct guidance is provided and correct decisions are made to enhance estate administration, that few L & D account mistakes are not identified and that few estates are delayed due to ineffective control of the execution of phases of estate administration.
Ensure that controlling of trust administration comprises:
- Creation of trusts
- Investment decision-making
- Decisions about and checking of trust payments
- Checking quarterly statements.
- Ensure that testamentary and inter vivos trusts are created according to client requirements, that it is practical and executable with few changes/amendments afterwards.
- Responsible for ensuring that most decisions regarding investments and trust payments are made to the trusts’ and beneficiaries’ best benefit and that few mistakes regarding trust payments and preparation of quarterly statements are not identified.
- Ensure that wills are checked for contents, accuracy and typing and that few mistakes and omissions are not identified.
- Ensure that maximum target is reached.
- Responsible for reacting within 24 hours on leads, messages, branch requests and telephone calls received to obtain new business and that the department’s services are promoted and most of the contacts resulted in new business.
- Ensure that from time to time on own initiative proactive marketing actions are launched to obtain new business. For example the following:
- Compile a contact list
- Approach identified market sectors, groups and clients.
- Responsible for identifying selling/cross-selling opportunities and for referring such opportunities and leads to the correct person, department or branch involved.
- Ensure that there is strict control over the expenditure budget and that it is followed-up to determine reasons for overspending.
- Ensure that personnel are judiciously applied in appropriate posts and that the workload is cleared with the minimum mistakes and overtime.
- Also ensure that personnel are correctly applied and fully utilised.
- Ensure that formal and on-the-job training is effectively planned and conducted to ensure that sufficient expertise is available to deal with the work.
- Ensure that the mentorship in the department is effective to enable all personnel to develop to their full potential.
- Ensure that you have sufficient knowledge of personnel and their duties to do effective evaluation and also ensure that ongoing discussions take place.
- Ensure that evaluations are done on a regular basis according to the guidelines of the system.
- Ensure that steps are taken to develop employees for performance improvement
- Ensure that the Master, estate-related parties, branches and clients are handled in a professional manner to ensure effective cooperation and attainment of documentation and information and that the legal advice and information provided is correct.
Provision of management information
- Ensure that a report is submitted to management on a monthly basis containing:
- The number of new estates, trusts and wills and estimated value of fees to be charged.
- The asset value of new estates.
- The actual value of fees charged.
- Ensure that the departmental estimated income and expenditure is submitted on a 6 monthly basis as well as any other information on request and that all information is submitted on time with few comebacks.
- Any other reasonable and lawful instruction as given to the incumbent by his/her supervisor on time.
· Energetic and willing
· Positive attitude towards system and system changes
· Time management
· Communication both written and orally in English
· Planning and organizing skills
Experience/Knowledge & Skills
· Knowledge of the system and processing activities
· Adequate knowledge of technical and legal aspects of estates, wills and trusts and services that apply to his position.
· Professional image and grooming
· Personnel management skills
· Self-confidence and interpersonal skills
· 10 Years estates and trust experience
· Computer literate: (MS Word & Excel)
· Analytical and technical skills
· Product knowledge
· Accounting experience will be an advantage
· Matric (Grade 12)
· Tertiary education in Law (BA LLB) or similar