Job Summary
The Chief Operating Officer is responsible for championing bank-wide operational efficiency and effectiveness in service delivery and business performance. This enables market offering of banking products and services at minimal cost and managing financial risk to customers in line with institutional guidelines and regulatory restrictions.
Minimum Qualification:
Degree
Experience Level:
Management level
Experience Length:
15 years
Job Description
Duties and Responsibilities
The chief Operating officer leads the strategic support of the institution’s business activities. The role tasked with overseeing the operational functions of the business.
Key Accountabilities
Business Performance
Ensure strategic objectives shaped at Executive Management level are translated into tactical business plans with mechanisms for key measurements in place to monitor progress.
Ensure that operations change projects are delivered in line with directions from Executive Management level.
Coordinate the efforts of the different operational areas under management to ensure minimal duplication of efforts, maximum efficiency and to maximize value for money.
Re-balance resources between different areas e.g. reallocating budgets, but within overall approved resources for the year.
Contribute to the development of business unit strategy by providing a view on potential improvements for products or services and an assessment of the existing situation and anticipated changes in the external environment.
Manage departmental budgets including signing off of invoices and quotes within mandate. Escalate out of budgets items to the Managing Director for approval.
Sign off capital expenditure within budget. This includes approving purchase decisions for desktop computers, laptops, departmental equipment etc.
Analyze the effectiveness of processes and systems in use in general for Bank and recommend corrective action or automation.
Benchmark productivity of the department against industry standards and create measures to improve productivity.
Driving Business Direction
To be an integral part and driver of the strategic planning, budgeting and forecasting of business requirements and decision making process.
Build strong relationships with key external stakeholders, regulators, suppliers, etc. to ensure correct focus and direction for the bank at operations and technology level.
Ensure an effective and efficient operating model is maintained.
Develop and facilitate planning across the COO environment.
Accountable for driving the business model under the COO environment
Serve on external committees where applicable
Ensure that risk is effectively addressed in all aspects of the business under the COO
Ensure that a proper infrastructure (building, systems and staff complement) is maintained and developed for the bank.
Accountable for planning and opening of new branches (outlets) in terms of expansion of the business and business plans.
People Management/Leadership
Build strong relationships with key stakeholders and peers to ensure there is focus on the operations division.
Provide clear directions on strategic goals, translating and prioritizing them into business and performance measures for each of the departments within the division
Lead, inspire and coach the leadership team within the division, creating succession to key roles and enhancing management capability with the division.
Monitor the strict adherence to governance and setting high standards of professionalism across the functions
Review Performance Appraisals to determine effectiveness of interventions.
KPIs
Alignment to Business Strategy All Operational areas have strategic directions that are aligned to the Bank’s Business Strategy
Compliance to Regulatory and Operational policies: - The operations division adheres to all regulatory and Bank policies
Project implementation: All the approved projects within the division are executed in accordance with scope, time and budget
Service delivery across all the operational areas and that SLAs are adhered to
All the departments consistently score high marks in customer satisfaction surveys
The departments operate within the set budgets
Educational/Professional and Work Experience Requirements
Minimum of Bachelor degree in any business or numerate discipline
A professional qualification (ACCA)
Minimum of 15 years relevant work experience in the banking industry, 8 out of which must have been at a senior management level
Banking operations experience.
Job Knowledge and Skills Proficiency
Detailed knowledge of Banking procedures, policy and principles
Transaction processing and banking operations
Experience of risk, credit analysis, credit and treasury Operations
Extensive experience of cash management, account services, clearing and payments
Proficiency in use of relevant banking applications
Financial analysis and interpretation Strong planning, control and organizing abilities
Knowledge of banking rules and regulations
Generic Competencies
Strong capacity for leadership and decision making
Strong written and oral communication ability
Sound analytical and probing capacity
People development and management ability
Be of high integrity and ethical standards
Result oriented with ability to work under pressure and meet tight deadline
Key Performance Indicators (Indicative)
e.g. Number of queries from Head Office on incorrect returns
Customer satisfaction
Quality of customer service
Customer loyalty
Financial Dimensions
Net revenue
Ratio of operating costs to total income
Customer profitability
NPLs versus total assets
Applicants should send Cv's to
[email protected]
and make the subject of the mail, the Job Title of the role being applied for.
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