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Senior Fiduciary Specialist – Nedbank Wealth, Cape Town

VACANCY: NEDBANK – SENIOR FIDUCIARY SPECIALIST
NEDBANK CLUSTER: NEDBANK WEALTH
NEDBANK SUBDIVISION CLUSTER: WEALTH MANAGEMENT
BUSINESS UNIT: NEDBANK PRIVATE WEALTH
LOCATION: CLOCKTOWER PRECINCT, V & A WATERFRONT, CAPE TOWN
CLOSING DATE FOR APPLICATIONS: 03 October 2019
NEDBANK LTD (REG NO 1951/000009/06) , AN AUTHORISED FINANCIAL SERVICES AND CREDIT PROVIDER (NCRCP16) . A MEMBER OF THE OLD MUTUAL GROUP.

WHAT WE DO

Nedbank Private Wealth is a wealth management business that aims to fulfil the global needs of our high-net-worth (HNW) and ultra-high-net (UHNW) clients through the provision of integrated advice and services that span banking, fiduciary services, investments, insurance and philanthropy. We are a wholly owned subsidiary of Nedbank and also offer our clients an integrated international service from our offices in South Africa, the United Kingdom, the United Arab Emirates, Isle of Man, Jersey and Guernsey. Our offering is tailored to HNW and UHNW individuals, families, trusts, charities and non-profit organisations, and is based on their overall wealth management objectives.

OUR HERITAGE

Our heritage goes back almost 200 years and today we are one of the largest wealth management businesses, managing and administrating assets over R100 billion in South Africa and internationally.
Our legacy is built on the traditional wealth management values of integrity, client focus, trust and confidentiality. Although the Nedbank Private Wealth brand was launched in October 2012, it is a culmination of four proud and successful businesses: BoE Private Clients, Fairbairn Private Bank Limited, Fairbairn Trust Company Limited and Fairbairn Trust Limited.

JOB PURPOSE

To provide technical expertise in terms of fiduciary services within Nedbank Private Wealth, in support of the Wealth Managers and directly, to UHNW, HNW and HI clients as part of a holistic wealth management proposition.

KEY PERFORMANCE AREAS

  1. Prepare high-level estate and tax planning reports for UHNW, HNW and HI individuals who are clients of Nedbank Private Wealth. The individual must possess the required skills to be able to review and advise on the existing international estate and tax planning consequences relevant to existing international estate planning tools and assets, analyse clients’ unique needs and circumstances, and make appropriate recommendations with respect to international estate and tax planning tools and techniques that can be used to meet clients’ unique needs and cater for clients’ unique circumstances.
  2. Provide South African and international wealth structuring advice, which includes the following:
    • Consultation in connection with, and taking instructions for, the drafting of wills dealing with South African and foreign assets, and where applicable, facilitating the drafting of wills in foreign jurisdictions to deal with certain foreign assets.
    • Drafting and establishing South African trust deeds, i.e. inter vivos trusts and charitable trusts and other philanthropic structures in South Africa in accordance with relevant legislation, regulations and best practice.
    • Review of existing trust structures (and trust deeds) and provision of recommendations to ensure the viability thereof in accordance with relevant legislation, case law, regulations and best practice.
    • Drafting relevant legal contracts, e.g. sales agreements and loan agreements.
    • Facilitating the establishment of offshore trusts, investment/property holding companies, and international retirement and/or pension and savings-related arrangements.
    • Comprehensively explaining the tax consequences relevant to local and international wealth structures and the various ownership options as well as the full product offering of Nedbank Private Wealth.
  3. Actively participate in the Fiduciary Specialist Forum by:
    • Providing updates with respect to legislative and regulatory developments impacting fiduciary-related matters.
    • Contributing towards ensuring the document library (templates) is kept up to date, e.g. estate and tax planning reports, trust deed templates and loan agreements.
    • Creating house views on fiduciary-related matters.
    • Proactively developing fiduciary-related solutions for UHNW, HNW and HI clients.
    • Contributing articles on estate and tax planning, trusts, wills and international for Fiduciary Focus – a newsletter that is distributed to clients to create awareness of our fiduciary capabilities.
  4. Arrange regular training sessions with wealth managers and other client-facing people to build awareness of the complexities and nuances involved with assisting UHNW, HNW and HI clients structure their international wealth.
  5. Build strong collaborative relationships with other group divisions in the region.
  6. Ensure national compliance and risk management processes and procedures are in place and ensure adherence therewith.
  7. Ensure the above services are provided in a commercially viable manner.

ESSENTIAL QUALIFICATIONS

  • Degree – preferably a law degree
  • Higher Diploma in Tax or HDIP Tax
  • Postgraduate Diploma in Financial Planning

PREFERRED CERTIFICATIONS

  • Admitted legal practitioner
  • Registered tax practitioner (SAIT)
  • CFP®
  • FPSA®
  • FAIS

PROFESSIONAL MEMBERSHIP

  • FPI
  • FISA
  • STEP

JOB-RELATED EXPERIENCE

Minimum five years’ working experience in the private-wealth environment in estate planning, provision of structuring advice and fiduciary advisory.

Applications

Please send your CV to Melissa Cloete at melissacl@nedbank.co.za

Download the job description in PDF format.

To apply for this job email your details to melissacl@nedbank.co.za