Job Description

CM03777 - Chief Operating OfficerJob Specialization:
Corporate Strategy/Top ManagementWorking Location:
Kuala LumpurSalary Range:
NegotiablePosted Date:
20/06/2024Location: Kuala LumpurWorking Days: 5Attractive Benefits Included:

• Fixed Basic
• Allowances
• Career prospects in High Profile & Multi-National Environment
• Friendly, well-organized, systematic, high-technology environment to work in

Interested candidates, kindly REGISTER your Job Seeker Profile with CareerMaster & APPLY NOW!Shortlisted candidates will be notified.SUMMARY:

• Directly supervise and lead the Operations Division of the Company, responsible for managing the key functions such as Underwriting, Medical Research Team, Claims, and Information Technology.
• Head the IT Steering Committee, fostering collaboration among cross-functional members to address IT-related matters and projects. Ensure that processes, turnaround times, and service level consistently meet or surpass expectations.
• Preferably with an IT background and extensive experience in transformation initiatives.

JOB RESPONSIBILITIES:Operational Strategy & Efficiency PlanningSupporting Activities

• Develop and implement operational strategies aligned with the company\'s overall goals and objectives.
• Collaborate with other Csuite executives to ensure operational plans are integrated into the overall business strategy.
• Support and perform Shared Services on all operations aspect for both conventional and Retakaful business.

Outcome/ deliverables

• Document outlining the operational goals and objectives that support the overall strategic direction of the organization.
• Defines the key initiatives, priorities, and timelines for achieving operational success.
• Provides a framework for consistency, compliance, and best practices in day-to-day operations.

Risk Management & Regulatory ComplianceSupporting Activities

• Work closely with the risk management team to identify and mitigate operational risks.
• Implement processes and controls to minimize exposure to risks associated with Reinsurance/ Retakaful operations.
• Stay abreast of regulatory changes and ensure that reinsurance operations comply with all relevant laws and regulations.
• Work with General Counsel and compliance teams to develop and maintain policies and procedures that adhere to regulatory requirements.

Outcome/ deliverables

• Swift and appropriate responses to regulatory changes, ensuring that the organization complies with new requirements promptly.
• Documentation of the implementation timeline for regulatory changes.

Potential Challenges

• Ensuring strict adherence to Shariah principles in all Retakaful operations can be challenging.
• Complex regulatory developments in Reinsurance/ Retakaful may impact the organization\xe2\x80\x99s operations.
• Managing various types of risk.
• Ensuring compliance with data protection laws.

Process OptimizationSupporting Activities

• Streamline and optimize operational processes to improve efficiency, reduce costs, and enhance overall effectiveness.
• Implement best practices in reinsurance operations to ensure industry standards are met.
• Support business development by building and maintaining good relationships in areas of underwriting and claims with all of the Company\xe2\x80\x99s clients (where possible).
• Keep abreast of the latest technological advancements, regulatory requirements and market developments, and act accordingly and promptly to changes in the regulations and market needs/demands.

Outcome/ deliverables

• Development of strategies to engage and collaborate with stakeholders effectively.
• Regular communication with stakeholders to keep them informed about the organization\'s activities, performance, and industry updates.

Potential Challenges

• Establishment of processes for accurate and timely reporting to regulatory authorities and internal stakeholders.

Technology & SystemSupporting Activities

• Oversee the implementation and maintenance of technology systems that support reinsurance operations.
• Ensure that the company\'s technological infrastructure is up-to- date and aligned with industry advancements.
• Collaborate with the CFO to manage the financial aspects of reinsurance/retakaful operations, including budgeting, forecasting, and cost control.
• Monitor financial performance against operational goals and make adjustments as needed.

Outcome/ deliverables

• Develop and implement crisis management plans to address unexpected events or disruptions.
• Ensure business continuity plans are in place and effective.

Potential Challenges

• Address risk associated with data breaches, cyber threats and technological disruptions.

Crisis ManagementSupporting Activities

• Develop and implement robust crisis management plans to address unexpected events or disruptions to reinsurance operations.
• Ensure business continuity plans are in place and effective.
• Addresses communication, resource allocation, and recovery strategies.

Outcome/ deliverables

• Comprehensive plan outlining the organization\'s response to significant risk events or crises.
• Develop and implement crisis management plans to address unexpected events or disruptions.

Potential Challenges

• Unforeseen events that could disrupt operations and ensuring the organization can recover quickly.
• Supporting Duties & Additional Responsibilities.
• Lead and coach team members and encourage their professional development.
• Lead the Company\xe2\x80\x99s IT and business projects especially in relations to Operations and any other tasks that may be assigned from time to time.

Supporting colleagues in their duties

• Lead and coach team members and encourage their professional development.
• Lead the Company\xe2\x80\x99s IT and business projects especially in relations to Operations and any other tasks that may be assigned from time to time.
• Supporting colleagues in their duties.
• Participating in cross-functional projects.
• Responding to urgent organizational needs.

JOB REQUIREMENT:

• Possesses a Bachelor\xe2\x80\x99s Degree in Business Administration, Information Technology, Management, Finance or a relevant degree.
• Preferably a background with Master of Business Administration (MBA) or an advanced degree in a relevant field.
• Professional certifications related to insurance, risk management, IT Management and Islamic finance may be beneficial.
• Relevant certification such as CISSP (Certified Information Systems Security Professional) or PMP (Project Management Professional) would be advantageous.
• Strong Operational background and a proven ability to optimize processes and improve efficiency. Significant experience in leadership roles, demonstrating a track record of success and strategic thinking.
• Independent, analytical, resourcefulness, excellent communication & interpersonal skills, good stakeholder management.
• Minimum 15 years of relevant leadership experience in reinsurance field especially in regard to operational areas for e.g. underwriting, claims, IT, etc.

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