Specialist: Trust Administration

Responsibilities

• Trust Administration and Fiduciary Management
• 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.
• Tax Administration and Regulatory Compliance
• 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.
• Investment and Asset Management
• 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.
• Insurance and Property Administration
• 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.
• Financial Management and Commercial Performance
• 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.
• Stakeholder and Client Relationship Management
• 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 stake

Benefits

Additional Information

Empowering Africa's tomorrow, together...one story at a time. 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. Job Summary To provide specialist administration and fiduciary management of legal claims trusts and other complex trust structures by ensuring the effective onboarding, administration, investment management, taxation, reporting, compliance, stakeholder engagement and termination of trusts. The role is responsible for safeguarding trust assets, protecting beneficiary interests, ensuring regulatory compliance, and delivering exceptional client service while contributing to the commercial sustainability and operational effectiveness of the Trust business. Job Description

Your Match

How well this role fits your profile.

Company Intel

What employees say

Worked at absa? Share your experience