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Reference No. TJH

Reference: TJH



Job Description:

Our client, a leading financial services institution is seeking a COO to join their team.



Responsibilities:

Managerial

  • Develop and implement strategies for the management of all relevant areas of the company’s Life operations, including systems and people development, so as to meet agreed operations performance plans, within agreed budgets and timescales
  • Establish and maintain appropriate systems for measuring necessary aspects of operations management
  • Develop standards for interdepartmental service level agreements that will improve the company’s service ratings
  • Establish and enforce the underwriting and claims philosophies for the company’s Life business
  • Continuous improvement of the company’s operations’ efficiency and ensuring that it compares favourably to the best in the insurance industry
  • Manage and develop direct reporting staff including the Head of Retail Operations, Head of Pensions and Group Life Operations, Head of ICT, Head of Project Management and Head of Digital


 

Operational

  • Ensure operational efficiency in claims, underwriting, deposit administration, policy servicing project management and ICT functions in accordance with established SLAs
  • Originate and execute initiatives to enhance revenue growth, quality improvement and cost reduction
  • Liaise with other functional/departmental heads (and importantly with the Sales and Distribution department) so as to understand all necessary aspects and needs of operational development, and to ensure they are fully informed of operational objectives, purposes and achievements.
  • Implement best practices in internal controls and risk management and ensure that all activities and operations are performed in compliance with regulations, laws governing business operations and company policies
  • Participate in the development and preparation of short-term and long-range plans and budgets based on broad organization goals and objectives
  • Liaise with departmental leaders to effectively implement the operating plans, including any ongoing reviews
  • Ensure service levels agreements with external customers and partners are put in place and are adhered to
  • Appraise and evaluate the results of overall operations regularly and systematically, and report these results to the CEO
  • Maintain awareness and a sound knowledge of operational developments, and provide suitable feedback and interpretation to management and staff within the company
  • Contribute to the evaluation and development of operations strategy and performance management in cooperation with the senior management team
  • Set and monitor operational budgets
  • Manage key relationships with clients, intermediaries and service providers in the market
  • Training and development of staff members in the department


 

Requirements: Qualification and Skill

  • Bachelors’ degree in a business related field
  • Masters’ degree is an added advantage
  • Professional qualification in Insurance (ACII, FLMI or AIIK)
  • Over 10 years’ experience in the insurance industry five of which must be in senior management in operations in a reputable organization
  • In depth understanding of insurance operations and concepts
  • Knowledge of insurance regulatory requirements
  • Knowledge of underwriting and claims procedures
  • Ability to deliver results and meet customer expectations
  • Excellent organisational and analytical skills
  • Effective business management skills
  • Demonstrable commercial and financial management experience
  • Excellent organizational and stakeholder management skills


 

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