To take ownership for consulting services on a portfolio of small to medium clients with limited input from Senior/ Principal consultant. To provide assistance and support to Principal consultants on medium to large clients. The focus of this role is client satisfaction, with less responsibility in terms of revenue management and generation. To continue improving technical knowledge.
Meetings and meeting preparation
Prepare trustee packs for medium clients (agendas which consist of all items to be discussed at the meeting) by obtaining reports from Administration, Finance and Actuarial Departments as required as well as investment and insurance information for ACA clients timeously, as well as reporting on completion of all actions from previous meetings, arranging for the agendas to be bound and sent to clients. Confirm whether each client has received the agends packs prior to the meeting. On large clients, agendas to be reviewed at high level by Principal Consultant.
Analyse of the fund's position and any issues pertinent thereto, as well as assessment of any new legislative developments/ best practise developments that need to be included in the agenda.
Attend ad-hoc Trustee meetings (this normally includes the Principal Officer, Chairman, member and employer elected Trustees) with the responsibility for presenting the agenda and recording the discussion in order to prepare minutes. On large clients, such meetings shall be attended with a Principal Consultant.
Prepare and circulate to responsible parties action lists from client meetings copying the Principal Consultant on all correspondence
Monitor the completion of action items from the action list by allocating actions to the responsible party; follow up on these matters on a weekly basis with the responsible person to ensure that instructions from the client have been implemented e.g. changes to retirement fund options
Responsibility for facilitation of any required meeting documentation prior to leaving for the meeting, including but not limited to previous meeting's minutes, any rule amendments for signature, trustee meeting register.
Circulate completed minutes to client within two weeks of the meeting date. Minutes for medium to large clients to be forwarded to the Principal Consultant for review one week after the meeting and to the client within two weeks following the meeting.
Risk benefit management
Review of risk benefit structure prior to market tests or renewals described below, following a justified recommendation to clients for any possible changes. On medium to large clients, the recommendation to be reviewed by Principal Consultant.
Prepare risk benefit market tests for clients in line with ACA's best practise. This will include requesting the rebroke data from the administrator, checking the reasonability and completeness of the data and preparing the rebroke request document in line with the Fund's risk benefit requirements. Thereafter distributing the request document to the relevant insurers, collating any quotations received from the insurers and preparing the rebroke summary for presentation to the client. On medium to large clients, such summaries to be reviewed at a high level by the Principal Consultant prior to presentation to the client.
Manage and monitor free cover limits on the funds in line with ACA's best practise. This will include requesting information from the administrator in respect of members over the free cover limit and providing this information to the insurer in order to issue medical requests. Any new medical requests must be sent to the member with an explanatory letter. Reminders must be sent quarterly to members who have not complied with the medical test. Where members have attended to the medicals, the confirmation of cover letter from the insurer must be sent to the member. On large clients, letter template and process should be signed off by Principal Consultant prior to implementation.
Facilitate renewals in line with ACA's best practise. This will include providing the current insurer with updated membership data from the administrator in order for them to prepare the renewal rates. On receipt of the renewal rates, prepare documented needs analysis for the client and provide the same to them along with the renewal terms for consideration. On large clients, such renewals to be approved by Principal Consultant prior to implementation.
Training - self-study and structured
Attend of all consulting internal forums and requisite arranged internal and external training sessions.
Keep up to date with all publications circulated internally regarding industry developments e.g. Quidnunc.
Interact with peers, seniors and other divisions to gain a greater understanding of retirement fund management.
Deepen technical expertise relating to retirement fund consulting by conducting research, expanding horizon Internal and External Client Liaison and Retention
Own of overall client satisfaction from a servicing perspective.
Maintain functional relationship with other divisions and external service providers to ensure excellent client service
Maintain functional inter-team relationships to ensure excellent client service and a comfortable working environment
Manage verbal and written queries from internal and external clients. Complex responses and responses to sensitive issues to be escalated to Principal Consultant for review prior to distribution.
Prepare of investment return summaries. This will include requesting information around a fund's updated asset values and investment performance per portfolio and preparing a summary thereof for presentation to the client in the agenda pack.
Arrange investment presentations by investment managers at client meetings as prescribed
Prepare and send investment communication for clients small to medium clients and submit communications for larte clients to the Principal Consultant
Where the fund does not have an asset consulting appointment, perform investment needs analysis and provide justified recommendations, guidance and advice to clients for consideration. Any analysis or recommendation performed to large clients to be reviewed by Principal Consultant.
Where the fund does not have an asset consulting appointment, draft the statement of investment for funds encompassing the considerations, decisions, background, requirements, objectives, profile and strategy of the fund.
General Fund Management
Maintain Fund master file by filing all updated documents immediately
Draft fund communication/ reporting for small-medium clients and for large clients and submit to the Principal Consultant
Prepare and monitor section 14 applications for small-medium clients
Review financial statements and liaison with the relevant parties to effect any corrections prior to presentation to client. Statements for large clients to be reviewed by Principal Consultant prior to client presentation
Review actuarial valuations and liaison with the relevant parties to effect any corrections prior to presentation to client. Valuations for large clients to be reviewed by Principal Consultant prior to client presentation
Collate and provide fund related information to admin, finance, service providers and clients as required.
Complete the finance checklist and collate of any fund documentation (e.g. minutes and amendments approved over the last financial year) for provision to finance in order to prepare the annual financial statements of the fund
Request and manage deadlines for any information/ documentation required for internal or external reporting (e.g. admin reports for agendas, regional manager checklists)
Education and Experience Required
B Degree or equivalent NQF level 6 FAIS or higher qualification
RE 5 level 1 regulatory examinations passed
Certified Financial Planner (Preferable)
5 years Employee Benefits consulting experience
Knowledge & Skills:
Business writing skills
Verbal communication skillsired
Comprehension & retention of technical information
Comprehension & execution of instructions
Good team player
Attention to detail
Working with people
Adhering to principles and values
Relating and networking
Writing and reporting
Deciding and Initiating action
Planning and Organising
Delivering results and meeting customer expectations
Coping with pressure and setbacks