Job Expired

Chief Operations Officer – Parktown needed at Rand Mutual

Job title : Chief Operations Officer – Parktown

Job Location : Gauteng, Randburg

Deadline : May 22, 2024

Quick Recommended Links

WHAT WILL YOU DO?

Growing a Business of Significance – Operational Strategies and Planning

  • Develop, align, and implement strategic direction and aligning the Group Operations function to the vision, mission and values of the organisation, in order to achieve sustainable success. Develop and implement a short-term and long-term plan to execute the strategy
  • Contribute to the development of the overarching business strategy of the COID & Group Operations business
  • Develop and implement operational strategies aligned with the overall goals and objectives of the organisation 
  • Implement Group Operations Framework and Engagement Model
  • Continuously scan the economic and social environment to identify threats and opportunities for betting operations
  • Continuously monitor the integration of new business developments with the existing organisational operational directives and organisational strategies
  • Ensure that all business units conform to license conditions in terms of the Group value chain (onboarding, policy administration, claims management processes and reporting
  • Active participation in organisational management team to provide inputs to the organisation’s strategic plan
  • Ensure legislative compliance
  • Developing and implementing a short-term and long-term vision for the group
  • The identification of problems and opportunities and addressing them accordingly.

Establish Efficiencies within Group Operations

  • Identify opportunities for process improvement, cost reduction, operational efficiency and embed quality management principles in the Group value chain
  • Introduce an effective performance monitoring and reporting process, as well as problem solving strategies to drive process efficiency 
  • Ensure process optimisation in the Group’s entire value chain e.g. policy administration, onboarding, claims management, client services, for better client experience
  • Create effective measurement tools to gauge the efficiency and effectiveness of Group internal and external processes
  • Must leverage efficiencies and processes already developed in the divisions
  • Ensure the integration of new initiatives into business operations while minimizing the risk of potential negative impact on existing operations by validating adjustments to existing processes, interfaces, and exception handling as well as provision of sufficient training
  • Support the divisions in introducing processes, procedures, and systems to facilitate effective and efficient administration 
  • Issue new directives and changed procedures to ensure operational and process efficiencies and control are maintained according to operational requirements and objectives
  • Develop an Operational Performance Monitoring and Reporting tool for the Group. Ensure efficient reporting structures are in place.

Effective Operational leadership across the Group

  • Develop a Group Operations team that is in line with the structure, that will support the execution of the Group Operations strategy
  • Assess and develop the Group Operations appropriate structure for the benefit of implementing world class operations
  • Ensure appointments of the right mix of skills and staff
  • Provide guidance and oversight to staff and leadership to ensure the organisation  aligns with the company’s business plan and overall strategic vision
  • Oversee the performance of Group Operations to deliver a best-in-class service to all RMA businesses and clients, meeting or exceeding all KPAs and within budget
  • Evaluate performance of teams on established operations performance targets
  • Establish and communicate clear performance expectations to ensure the team meets or exceeds operational targets
  • Lead and mentor a high-performing operations team, fostering a culture of collaboration, accountability, and continuous improvement
  • Create a change management process for better implementation of the new structure
  • Identity training needs and support ongoing capability development for staff and team members.

Cost management

  • Develop forecasts based on organisational plans and budgets
  • Present proposals for large expense items e.g. replacement of capital and non-capital resources
  • Develop objectives for project-based process improvements which:
  • Reduce costs
  • Improve efficiency and effectiveness
  • Improve the working environment
  • Ensure the development of an operational budget considering organisational strategic needs for increased growth and sustainability and to ensure the availability and management of resources to meet organisational objectives
  • Ensure adequate maintenance of accounting records
  • Monitor actual performance against budgets, forecasts, and projects
  • Influence the use of the approved budget through the management of the appropriate stakeholder
  • Proactive management of potential fraud by use of data and analytics.

Regulatory compliance and risk management

  • Stay abreast with relevant legislative changes and ensure compliance with industry regulations and internal policies
  • Ensure legislative compliance
  • Audit all procedures and practices according to organisational requirements and sound operational practices to ensure maximum control, accountability and service levels to all stakeholders and clients
  • Issue new directives and changed procedures to ensure operational and process efficiencies and control are maintained according to operational requirements and objectives
  • Negotiate operating license with the Compensation Fund
  • Represent the organisation at the Compensation Fund Board and its subcommittees
  • Ensure proper reporting to the Compensation Fund and other relevant regulatory entities for purposes of regulatory compliance
  • Attend ICT Committee, Audit Committee and Risk Committee meetings
  • Sustain international and/or local best practice
  • Support the management of operational Risk Actions
  • Collaborate with legal and compliance teams to implement necessary changes and updates to ensure process adherence to regulatory requirements
  • Work closely with other departments to ensure business continuity and disaster recovery plans are in place and tested; to ensure the company can continue its critical operations in the event of disruptions.

Key stakeholder management

  • Forge and maintain strategic partnerships and relationships with internal and external clients
  • Foster effective communication and collaboration between different departments and provide regular updates to senior management on operational performance
  • Work collaboratively with other departments to ensure implementation of standard processes and procedures
  • Ensure that business is provided with continuous support and that there is ongoing adherence to processes.

WHAT YOU’LL BRING TO THE TABLE?

  • NQF Level 8: Relevant commercial post graduate qualification (Business Administration, Finance, Industrial Engineering, or a related field)
  • Master’s degree (Advantageous)
  • RE5 qualification (Advantageous)
  • Minimum 15 years of experience leading Operations Function, preferably in the insurance industry
  • 10 years of management experience, 5 years at a senior management level in a similar environment
  • Strong knowledge of Insurance industry regulations and compliance requirements
  • Solid familiarity with a wide range of long- and short-term insurance Acts, products, and services
  • Proven experience applying operational quality tools and techniques for effective problem solving (e.g. Statistical Process Control, DMAIC, FMEA, Fishbone Diagram, Value Stream Mapping or similar)
  • Optimizing processes to enhance overall business performance
  • Leading transformational Change Management initiatives
  • Knowledge of a diverse mix of short-term and long-term insurance Acts, products, and services.

How to Apply for this Offer

Interested and Qualified candidates should Click here to Apply Now

  • This job has expired!
Save