Officer Business Development VAF (FAIS)

Absa Bank is seeking a dedicated and results-oriented Business Development Officer to join their Vehicle Asset Finance (VAF) division, specifically focusing on operations within the Financial Advisory and Intermediary Services (FAIS) framework. This role is pivotal in driving sales performance and fostering strong relationships within the dealer network, ensuring Absa remains a preferred partner in vehicle financing. The position is based in Pretoria.

About the Role

At its core, this position involves the day-to-day execution of knowledge-based tasks designed to meet predefined objectives. You'll be instrumental in achieving sales targets by effectively managing dealer performance, leveraging incentive schemes, and utilising information from both internal and external sources. A key aspect of this role is the proactive management and enhancement of relationships with dealerships, including principals and finance and insurance (F&I) managers. This involves regular engagement through meetings and visits to discuss Absa's Vehicle Asset Finance Customer Value Proposition (CVP) and to build brand awareness and loyalty.

Furthermore, you will be responsible for the efficient and professional handling of all customer interactions related to vehicle finance. A significant part of your function will be identifying and engaging with dealerships that are not currently aligned with Absa's offerings. Through careful tracking of business volumes and understanding the underlying reasons for this detachment, you will implement retention strategies to convert these "non-friendly" dealers into active partners.

The Business Development Officer will play a crucial role in several key areas:

• **Sales Target Achievement:** Drive and manage the achievement of sales targets across the dealer network. This involves implementing and overseeing incentive programmes designed to motivate and reward performance.
• **Dealer Relationship Management:** Cultivate and maintain robust, long-term relationships with dealerships. This includes conducting regular meetings and site visits to discuss Absa's VAF offerings, highlight benefits, and address any dealer concerns.
• **Brand Enhancement:** Actively promote Absa's VAF brand and value proposition to dealers and their F&I teams, thereby increasing brand visibility and preference.
• **Deal Facilitation:** Ensure all customer interactions within the sales process are managed with professionalism, efficiency, and a commitment to excellent service.
• **Dealer Conversion and Retention:** Proactively identify dealerships with low engagement or no business. Through systematic analysis and the application of defined retention processes, you will work to understand and address the barriers to partnership and convert these dealers.
• **Value-Added Product (VAP) Promotion:** Achieve agreed-upon targets for the sale of value-added products, such as extended warranties or insurance products, by collaborating with dealers and F&I managers. Performance in VAP sales will be linked to incentives, such as DIC payouts.

What They're Looking For

To be successful in this role, candidates must meet specific qualifications and experience criteria as mandated by the FAIS Act. This includes:

• **Educational Qualifications:** A minimum of an NQF Level 6 qualification in a commerce-related field or an equivalent qualification. A Higher Diploma in Business, Commerce, and Management Studies is specifically required.
• **FAIS Fit and Proper Requirements:**
• Possession of an FSCA-approved qualification relevant to the role.
• Successful completion of the Regulatory Examination for Representatives (RE5).
• Accumulated experience as stipulated by the FAIS Act for intermediary services.
• Completion of product-specific training once onboarded.
• Undertaking Class of Business training.
• Commitment to Continuous Professional Development (CPD).
• The ability to attest to honesty, integrity, and good standing.

This position is well-suited for an ambitious individual with a strong understanding of the automotive finance sector and a proven ability to build and maintain commercial relationships. The ability to analyse sales data, identify opportunities, and implement effective strategies is crucial.

In South Africa, roles in business development within the financial services sector, particularly those involving sales targets and dealer networks, can offer competitive remuneration packages. Salary expectations would vary based on experience, qualifications, and the specific incentives tied to performance. Common employers in this space include all major banks with vehicle financing divisions, as well as specialised finance houses. Career progression typically involves moving into senior business development roles, sales management, or broader management positions within the financial institution.

Qualifications required

NQF6 or higher in commerce or equivalent

RE5

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)