Chief Operating Officer at Britam

Job description

Job purpose

The Chief Operating Officer will be accountable for setting and driving strategic direction and providing executive leadership and management to the General insurance Operations Organization, focusing on ensuring the department's performance meets or exceeds customer expectations while concurrently driving operational efficiencies. The COO will play a significant role in developing and implementing processes and technology solutions necessary to achieve the organization’ s business goals and objectives.

Key Responsibilities

• Leading and executing the operational strategy of the GI business by Establishing and enforcing organizational goals, policies and operating procedures
• In liaison with the Underwriting Manager, ensure that the underwriting policies reflect the Company’s strategic risk management framework and are observed at all times. Ensure risk control mechanisms are in place
• In liaison with the Claims Manager, ensure that the claims policies reflect the company’s strategic risk management framework and are observed at all times Ensure risk control mechanisms are in place
• Defines the service operations strategy to ensure the business provides world-class service to all customer segments.
• Ensure operational efficiency in claims, underwriting, legal, reinsurance and customer service departments in accordance with established SLAs.
• Put in place standards for interdepartmental service level agreements that will improve the company’s service ratings
• Ensuring service levels agreements with external customers and partners are put in place and are adhered to
• Defines annual operating budget for Operations and ensures unit operates at or below budget
• Manage key relationships with clients, intermediaries and service providers in the market by ensuring that service to customers and producers meets their expectations
• Provide effective leadership and direction to the various departmental heads. Managing and developing the team of Claims and Underwriting specialists
• Carry out market intelligence to ensure the company is in tandem with industry trends and adopts pricing mechanisms that ensure profitability across all products.
• Put in place control mechanisms that enable a measure of service satisfaction by agents, brokers, customers and the regulator
• Optimizing the use of technology, people, and defined processes to achieve an optimum competitive positioning and standardize operations and reduce turn-around time on key business processes. in the business unit.
• Driving process mapping and restructuring to obtain optimal operations with a clear bias for cost containment and fraud management. Identifies and implements on-going improvement initiatives to improve performance for Operations
• Oversee and give technical guidance on all complex and large risks - both underwriting and claims
• Evaluate reinsurance data and recommend changes where applicable to ensure a robust and optimal reinsurance program - Kenya and group
• Review facultative placements, fronting, and special acceptance -waivers to ensure no expenditure
• Ensure adherence of all regulatory requirements with regards to reinsurance, claims and technical acceptance of risks
• Perform any other duties as may be assigned from time to time

Key Performance Measures

• Interdepartmental service level agreements in place
• Effective risk control
• Adherence to service level agreements
• Statutory and legal compliance
• Process turnaround times

Working Relationships

Internal Relationships

• Responsible for staff working under this position
• Required to liaise and work closely with the other departments as may be necessary

External Relationships

• Britam customers
• Insurance sector players

Knowledge, Experience And Qualifications Required

• Bachelors’ degree in a business related field
• Masters’ degree is an added advantage
• Professional qualification in Insurance (ACII, FLMI or AIIK)
• 7-10 years’ experience in the insurance industry 3-4 of which must be in a senior management
• Proven experience as an Operations Manager within a Financial Services Industry (Banking and Finance/ Insurance).
• Extensive experience in ensuring operational risks are identified and managed.
• Significant experience in process mapping and restructuring to obtain optimal operations with a focus on cost containment and fraud management
• A deep understanding of leveraging technology and processes to standardise operations, reducing turn-around times on all key business processes.
• A demonstrated track record in optimising operations to enhance the overall customer experience at all customer contact points.
• Managing and Executing Strategy

Technical and functional competencies

• In depth understanding of insurance operations
• 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

Core competencies

• Communication skills
• Building Relationships
• Focuses on the Customers
• Develops Self
• Solves Problems
• Develops Others
• Manages Quality and Risk
• Managing Change and Ambiguity