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GA Insurance – Chief Operating Officer.

All jobs > Administration > GA Insurance – Chief Operating Officer.
Full-time

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Chief Operating Officer

About the position

The role holder will support the CEO in executing their strategic objectives and maintaining their culture of exemplary service to their customers. He / She will be responsible for governing and integrating the operational strategy for the consolidated production business budgets, by optimizing the use of technology, and containing the business’ operating costs while enhancing overall customer service and experience.

He / She will also be responsible for “Hands On” Day to Day operations, developing and supporting insurance distribution partners/intermediaries, marketing of insurance services and products, market-related product development in line with business strategy, supporting the business development team with commercial and technical guidance, providing timely and reliable management information that supports the business strategy, goals and objectives.  The incumbent will also have the responsibility to maintain extensive knowledge of the business operating environment.

Responsibilities

  • Lead and execute the operational strategy, plans & procedures
  • Develop and establish operating policies consistent with the CEO’s broad policies and objectives and ensure their execution.
  • Responsible for serving as the custodian of operational policies and procedures of the business; Ensure that the policies are up to date, well communicated, enforced and to advise on changes to enhance the business risk.
  • Managing projects, developing, and implementing new procedures for underwriting and claims processing to drive forward continuous process improvement to increase profits and/or make the organization more efficient.
  • Ensure robust processes and procedures are in place for accurate recording of data and be the ultimate owner of business process and Core IT systems.
  • To act as an Advisor and provide business support to CEO in all facets of business.
  • Prepare regular and periodic reports to the CEO that provide a strategic direction and qualitative assessment on the achievement of the planned goals.
  • Responsible for preparing detailed monthly analysis of variances of the sales budgets of all products and branches.
  • Responsible for ensuring adequate operational controls for all products and channels.
  • Responsible in conjunction with GM – Business Development for a well-functioning branch network as well as all channels of operations which includes but not limited to: Having oversight responsibility over the general operations;Ensure adequate training of staff and independent agents, where applicable in various facets of the business; Identify and propose new footprint opportunities and markets.
  • Responsible for actively contributing towards the preparation of the annual budget of the company.
  • Produce, manage, and update premium aged debtors.
  • The incumbent will be accountable for the setting and maintaining the parameters and rules that govern the underwriting ability, creating system capacity to maintain minimum underwriting standards and endeavour automation of all operational processes.
  • Ensure underwriting policies are up to date and in line with reinsurance treaties and agreements; ensuring correct standards are always adhered to in analysis of risk and taking on of risk in line with protection of bottom line.
  • Conducts insurance, underwriting and claims trend analysis (loss drivers by analyzing / monitoring / steering the loss portfolios (frequency / severity trend detection)
  • To ensure adequacy of claims reserves, its continuous review and liaising with internal and appointed actuary.
  • Ensure that the business meets annual Retention and Organic growth targets in line with annual strategy
  • Provide support to Business Development.
  • Champion continuous development, review and implementation of policies, procedures, and controls.
  • Optimise the use of technology, people, and defined processes to achieve an optimum competitive service positioning in each business unit.
  • Enhancement and Development of the operational system/s in conjunction with the Head of ICT that allows to provide Digital services for Underwriting, Policy Administration, Claims Reinsurance & Information Analysis in line with the company strategy.
  • Leverage on technology and process management to standardize operations and reduce turn-around time on key business processes
  • Initiate process mapping, innovation and restructuring to obtain optimal operations with a clear bias for cost containment and service efficiency.
  • Evaluate, improve, document, and streamline the operational processes and procedures.
  • Work closely with Risk and Compliance team to identify and safeguard the management of all operational risks and adherence to risk and fraud management frameworks.
  • Ensure immediate closure of all issues as identified / reported by Internal Audit & Risk Management department and achieve continuous improvement of ratings of all operational metrics.
  • Ensure that all customer service points, both direct and indirect achieve the defined customer experience standards.
  • Ensure that all our distribution channels, Branches, Intermediaries, and direct channels have access to a service infrastructure that supports their service needs seamlessly.
  • Ensure consistent and accurate information is accessible through multiple channels.
  • Understand the various business models and cascading information on the role that service operations management plays to the team.
  • Deliver and monitor delivery of Underwriting Service and Claims Service in accordance with agreed standards and Key Performance Indicators to enhance customer Centric approach.
  • Implementation and optimization of the Reinsurance Treaties that allows the company to remain a competitive market player.
  • Deliver and achieve the customer promise for each product, service, and distribution channel.
  • Deliver on the performance requirement as defined in the departments’ strategy map, balanced scorecard, and Personal Scorecard.
  • Enable the business to achieve a higher quality of risk-taking ability by continuously reviewing and reporting on quality, relatedness, and risk management of product offering. To be measured by internal audit and business results.
  • Be part of a learning organization by continuously keeping abreast with industry/company changes and developments and ensuring knowledge and skills transfer within the organization. Actively assist in the development and ongoing training of team members.
  • Responsible for development of innovative new business products to improve and increase shareholder wealth.
  • Coordinating the preparation of Board and Committee papers and subsequently present the findings.
  • Build customer relationships that ensure business retention, growth and manage relationships with key partners, policy makers and other stakeholders.
  • Responsible for any other duties that CEO may assign from time to time.

Qualifications

  • Holds an MBA / Master’s degree in a Business-related field from a recognized institution / professional qualification(s) like Actuarial, ACII, CFA, CPA, ACCA or ACA
  • Affinity for digital tools – PowerBI and/or advanced Excel or similar skills are beneficial.

Experience

  • Extensive experience in ensuring operational risks is identified and managed.
  • Uncompromising Integrity.
  • Growth mindset (we are not looking for people with bureaucratic mindset).
  • High degree of reliability in terms of delivering results (person who can be counted on).
  • Significant experience in process mapping and restructuring to obtain optimal operations with a focus on cost containment.
  • Translate business strategies into operational plans.
  • Possess excellent time management skills, be able to multi-task and have the ability to meet deadlines.
  • A track record in developing business models and translating business strategies into operational plans in the financial service sector.
  • A deep understanding of leveraging technology and processes to standardize operations, reducing turn-around times on all key business processes.
  • A demonstrated track record in optimizing operations to enhance the overall customer experience at all customer contact points.
  • A demonstrated ability to be both a change and continuous improvement champion and be able to effectively manage change.
  • A strong track record in driving business growth and expansion in an increasingly competitive environment.
  • Not be phased by challenges and high-pressurised environments.
  • Can be both a change and continuous improvement champion and be able to effectively manage change.
  • Passion to perform, willingness to take on responsibility and strong ability to take decisions
  • Seniority, gravitas and credentials to engage with other internal stakeholders as well as external institutions at the highest levels.
  • Positive, self-motivated and possess strong leadership, people management and well-developed intercultural skills.
  • Ability to establish and maintain relationships with key stakeholders, customers, and suppliers.
  • Possess good interpersonal, oral and written communication skills, including the ability to influence and persuade effectively.
  • A natural thirst for self-development and development of your team members.

How to Apply

If you meet the above minimum requirements, send your updated Curriculum Vitae to careers@gakenya.com and indicate the position applied for in the email subject line to be received on or before 7th December 2022. Only shortlisted candidates will be contacted.

 

 

 

 

 

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