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Absa Bank: Deceased Estate Administration Law Learnership Programme 2024

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JOB OVERVIEW

Absa Bank invites qualifying professionals to apply for the Deceased Estate Administration Law Learnership Programme 2024.

Closing date: 28 December 2023

Location: Cape Town, Western Cape

JOB PURPOSE

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Absa Policies and Policy Standards.

Understand and manage risks and risk events (incidents) relevant to the role.

ABOUT ABSA

Absa Group Limited, commonly known simply as Absa and formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018, is a multinational banking and financial services conglomerate based in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange. 

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.

Bring your possibility to life! Define your career with us!

KEY RESPONSIBILITIES

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 finalize the deceased estate, by paying out the amount previously reserved in the cash statement for finalization 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.

MINIMUM REQUIREMENTS

  • NQF Level 6:
  • BCom Law or LLB (Essential)

HOW TO APPLY

Interested candidates should submit their resume with a cover letter detailing their motivation for joining the learnership program

Join us on this exciting journey to develop your skills and make a meaningful impact in the world of stockbroking and portfolio management.

You apply online for this exciting opportunity. Please click on the link below to view further detail and/ or apply.

Absa Bank Limited is an equal opportunity, affirmative action employer.


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