COO- RETIREMENT FUND INDUSTRY – REF8510

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R HIGHLY NEGOTIABLE PLUS ANNUAL PERFORMANCE BONUS to attract and entice the top candidate in SA! Rewards on performance are significant. This is a big meaty role.

Our client was established as a centre of excellence for the management of investment market and credit risk and to ensure appropriate investment performance from the asset managers managing shareholder and policyholder assets. The company is a progressive African wealth management group which, for more than fifty years, has delivered innovative, long-term solutions that assist customers to achieve financial stability in their chosen lifestyles and throughout their life cycles. As a group of companies, they offer an extensive, market-leading range of products and services to help customers build and protect long-term wealth. These include life and health-related insurance, investment management and retirement income facilitation. Customers have flexible choices and the input provided by the company’s advisers equips them with the knowledge and expert advice they need to make the right decisions with confidence, no matter what their stage of life.

They now seek a COO to join their team in the corporate business. This is a role to replace a prior COO who is now retiring.

This role is suitable for appropriately qualified affirmative action candidates and ideally an African black candidate.

JOB DESCRIPTION WILL INCLUDE BUT NOT BE LIMITED TO:

  • You will be required to develop and implement a functional operations operating model and framework in a broadly defined group functional strategy; enabling horizontal implementation and adoption;
  • Process:
    • Enterprise job:
      • You will be required to communicate a meaningful strategic context that articulates functional purpose in relation to the organisational vision, purpose and philosophy;
      • You will be required to identify alternative solutions, develop scenarios and establish contingency plans aligned with functional direction to resolve value chain conflicts;
      • You will be required to develop a functional operating model and value chain and ensure alignment to the overall functional and business unit operating model;
      • You will be required to use insights from knowledge gained through reporting to measure single function success and realign strategies and objectives appropriately;
      • You will be required to develop an effective functional operating plan that positively contributes to the achievement of organisational results;
    • Generic job:
      • You will be required to configure and balance resources, resolve competing requirements, allow for contingencies and identify partners to achieve long term objectives;
      • You will be required to the development, implementation, maintenance and enhancement of control systems to identify & mitigate key risks & ensure the execution of fiduciary duties;
      • You will be required to manage operations to meet budget, business and strategic goals;
      • You will be required to direct, coordinate and administer all aspects of the operations through directive leadership;
      • You will be responsible for creating an effective people component within the operations  function by determining roles and responsibilities, accountabilities; communicating and enforcing values, policies, and procedures;
      • You will be responsible for determining operational strategies through evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies;
      • You will be responsible for acting as the company’s operational representative to internal and external stakeholders; as appropriate providing stakeholders with the necessary information in a timely, accurate and efficient manner; preparation of audit and reports; representing the company on the relevant company boards, committees and forums;
  • Customer:
    • Enterprise job:
      • You will be required to drive a TCF integrated service excellence culture, which enables rewarding relationships, feedback and promotes exceptional service;
      • You will be required to define and influence the implementation of service models across functions to ensure continued value chain integration according to TCF principles;
  • Finance:
    • Enterprise job
      • You will be required to monitor & track expenditure & pricing models to maximise cost-benefit ratios of a functional value-chain, increasing shareholder value;
      • You will be required to ensure that the functional strategy is adequately budgeted for through the development and implementation of a fit for purpose budget;
  • Learning and growth:
    • Enterprise job:
      • You will be required to influence and communicate across all levels of the business to minimise resistance to change and ensure on-boarding of target audiences;
      • You will be required to drive the implementation of human capability and accountability frameworks across functions in support of people management strategies;
    • Generic job:
      • You will be required to have working knowledge of the operational procedures and processes at all levels of an organization operating in the corporate life insurance and retirement fund industry (e.g. operational underwriting, claims management, after sales operations, forensics, risk management, etc.);
      • You will be required to have working knowledge of the investment industry;
      • You will be required to have working knowledge of the pensions, insurance and advisory regulatory environments;
      • You will be required to have working knowledge of agile and lean methodologies;
      • You will be required to have an understanding of migrating product and services between operating environments will be advantageous
      • You will be responsible for improving your own job effectiveness by remaining aware of new regulations; participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations; building industry relationships; representing the company the relevant industry bodies;
  • Governance:
    • Enterprise job:
      • You will be required to drive the development & implementation of integrated corporate governance, compliance, integrity and ethics frameworks throughout functional area(s);
    • Generic job:
      • You will be required to act as the accountable person in terms of S13B of the pension funds act on behalf of company group;
      • You will be responsible for executing all the duties and responsibilities commensurate with this role with the required level of skill, care and diligence; as required and accepted by the FSCA.

CORE COMPETENCIES REQUIRED, BUT NOT LIMITED TO:

 

  • Technical:
    • Budgeting and expenditure control:
      • You are able to plan the work unit budget and manage income and expenditure, through responsible implementation of policies, practices and decisions, in order to achieve unit objectives effectively and efficiently;
      • You have masters knowledge / skill, acts with independence and provides guidance and training to others;
      • You are able to develop annual budget for group, sets budget policies and processes and collates various budgets into one corporate budget; You are able to monitor the ongoing management of this budget;
      • Functional policies and procedures:
      • You have the knowledge and interpretation of the functional policies and procedures, including monitoring their consistent application internally within the organisation;
      • You have masters knowledge / skill, acts with independence and provides guidance and training to others;
      • You are able to evaluate existing policies and procedures in terms of their suitability in light of the broader business agenda; You are able to present recommendations to senior management for approval in a concise manner;
    • Operations management:
      • You are able to effectively plan operations including service delivery;
      • You have masters knowledge / skill, acts with independence and provides guidance and training to others;
      • You have the ability to analyse service delivery trends and capacity against requirements, to facilitate the preparation of capital and operational expenditure estimates to support plans and objectives;
    • Operations risk management:
      • You are able to apply risk knowledge and skills within the parameters of prescribed regulatory and best practice framework for good corporate governance;
      • You have masters knowledge / skill, acts with independence and provides guidance and training to others;
      • You are able to demonstrate knowledge and understanding of risk and compliance management methodologies, tools, governance structures and regulatory requirements for good corporate governance;
      • You are able to understand risk holistically across risk types, providing recommendations to mitigate risk; You are able to prepare accurate reports to satisfy risk and compliance reporting requirements;
    • Policy implementation:
      • You have the ability to develop, facilitate, manage and review policies and procedures and monitor and report on the implementation thereof;
      • You have masters knowledge / skill, acts with independence and provides guidance and training to others;
      • You are able to integrate best practices into policies and procedures. Facilitates the implementation of an appropriate communication action plan through high-level engagement with critical stakeholders and policy owners. Ensures that policies and procedures form part of the organisational operating model
    • Product and / or service knowledge:
      • You are able to provide a service or sell a product through an awareness of the product or service;
      • You have masters knowledge / skill, acts with independence and provides guidance and training to others;
      • You are able to evaluate the current product/service range to determine suitability for the market the company is operating in, and if any improvements could lead to increased sales; You are skilled in analysing trends in the market and how these could be interpreted and benefit the company product range; You are able to advise on how to maximize sales opportunities and or service delivery through the use of product or service knowledge;
  • Behavioural:
    • People management and empowerment:
      • You are able to manage and encourage people, optimise their outputs and effectively manage relationships, to achieve organisational goals; You are able to actively seek opportunities to acquire and develop relevant knowledge to apply at work;
      • You are sought out for deep, specialised expertise; You are able to define models and strategic implementation;
      • You are able to enable processes to ensure accountability for people management and development; You are able to develop and incorporate best practice people management processes, approaches and tools across the organisation. Integrates talent management strategies across a value chain; You have a reputation as a leader and mentor in fostering professional growth
    • Strategic capability and leadership:
      • You are able to provide a vision, set the direction for the organisation and or unit and inspire others to deliver on the organisational mandate;
      • You are able to integrate;
      • You are able to structure and position the organisation to align with strategic priorities; You are able to develop and implement strategies for the organisation utilising in-depth knowledge of customers and clients, conventions, changing trends, processes and constitutional framework of the organisation; You are personally accountable for executing the strategy; You are able to build and maintain a wide network of internal and external relationships to gain confidence, trust and respect from others; You are seen as a leader who motivates others to achieve common goals; You are able to create loyalty, comradeship and an organisation environment that permits innovative thinking; You are able to develop strategic planning methods and tools
    • Partnership relations:
      • You are able to apply business strategy towards promoting a spirit of collaboration between the organisation and national, regional and global partners;
      • You are able to apply business practices to promote understanding of the organisation’s role towards leveraging global economic and financial partnerships;
      • You are able to make sure governance structure of the alliances is established to promote effective and efficient strategic partnership practice; You are able to make sure clear mandates are established that are directly linked to the shared metrics underpinning the partnership. Identifies risks involved and takes the necessary steps towards mitigation of such risks to promote long terms sustainability of partnership agreements.

CORE QUALIFICATIONS AND EXPERIENCE:

  • You have minimum of 10 – 15 years’ current, relevant experience in a retirement fund environment, of which 5 – 10 years at senior management level; B.Com/MBA.
  • 5 – 10 years client servicing and distribution experience in retirement fund market;
  • 5 – 10 years management experience;
  • 5 – 10 years business process management;
  • 5 – 10 years operational experience within a corporate life insurer
  • You have a proven track record of running operations , actuarial valuations, fund governance and annual financial statements, risk and retirement fund administration within the financial services industry
  • You have current, relevant broad experience in multiple functional areas within a corporate insurer – this is a distinct advantage.

No one can really sum up the role – you have to have superior operational management experience; sound people management experience and a strategic vision for the most successful division of the business.
For a confidential chat call Claire on 082-788-4032