Insurance – Chief Operating Officer (COO)

Stonewood Group Inc.; Ontario; On-site; CAD 120,000 - 180,000; Full time

Job summary

A leading mutual insurance company in Ontario is seeking a Chief Operating Officer (COO) to drive operational excellence and strategic initiatives. The COO will work closely with the CEO and CFO, oversee a team of thirty, and manage key relationships to ensure the company's growth and sustainability in a competitive market.

Qualifications

• Minimum 10 years of senior management experience.
• Track record in operational management and fiscal management.

Responsibilities

• Accountable to the CEO for executing the company’s mission and strategy.
• Lead and develop high-performance senior leadership team.
• Manage relationships with strategic stakeholders.

Skills

Leadership

Communication

Analytic Decision-Making

Project Management

Education

University Degree

Job description

Insurance – Chief Operating Officer (COO)

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About the Company

Client began in 1892 by offering coverage to people who had no other choice for protection. Client is a respected and unmistakable contributor in Canada’s mutual insurance industry, dedicated to working with a network of like-minded Brokers throughout Eastern Ontario.

It is a full-service property and casualty insurance company segmented into five major product categories :

• Farm and Agri Business
• Residential Property
• Liability
• Commercial Property

Today, it stands firmly amongst the financially strongest and advanced mutual companies in Ontario, recognized as a leader in innovation among mutuals in Canada.

Client is committed to a sound OSFI-centered governance structure and to the health and prosperity of the mutual insurance industry in Canada. It continually assumes leadership and contributory roles within the Ontario Mutual Insurance Association (OMIA), the Farm Mutual Reinsurance Plan (FMRP), the Canadian Mutual Insurance Company (CAMIC), and the National Association of Mutual Insurance Companies (NAMIC) based in Indianapolis.

Scope of Position

Accountable directly to the Chief Executive Officer (CEO) for executing the company’s mission, overall strategy, and business plan. The Chief Operating Officer (COO) demonstrates a solid understanding of leading governance and operational practices, and actively collaborates with the CEO and senior Team Leadership Group. The COO contributes to the successful achievement of the company’s vision and goals.

A strong people-leader, the COO is collectively accountable for a staff complement of approximately thirty employees, with significant interaction with the Board of Directors, providing impactful information on operational strategies and project implementation.

As Client is poised to maintain a leadership position in the ever-transitioning marketplace, the company requires a leader to contribute to the company vision and participate in the development of the strategic direction. This individual understands the internal importance of this while maneuvering through a complex, diverse, and challenging market segment. The COO will ensure that Client has the future intellectual capital necessary to stay ahead of the competition as the market continues to evolve.

The COO will collaborate with the CEO and Chief Financial Officer (CFO), responsible for developing, implementing, and managing the operational aspects of the annual financial forecast. Additionally, the COO will cultivate and grow existing relationships with business acquisition partners and community stakeholders.

Program Operational Leadership

• Provide effective and inspiring leadership by being actively involved in all programs and services, developing a broad and deep knowledge of the Mutual insurance industry.
• Identify opportunities for Client to leverage cross-program strengths or strategic Mutual affiliations to take advantage of new opportunities and / or to address organizational challenges.
• Lead, coach, develop, and retain Client’s high-performance senior leadership team with an emphasis on developing capacity in strategic analysis, planning, and operational initiatives.
• Develop and implement educational programs to expand the capacity of all staff.
• Prepare and submit an annual operational forecast, manage effectively within this forecast, and report accurately on progress made and challenges encountered.
• Ensure the continued financial viability of Client’s operational sectors through sound fiscal management.

External Relationship Development

• Manage and cultivate existing relationships with strategic stakeholders, including trade associations, regulatory supervisors, and reinsurance providers.
• Strategically grow revenue streams by cultivating new distribution relationships and enhancing the organic growth of existing acquisition partners.
• Publicly represent Client with the media and external stakeholder groups to uphold Client’s mission and strategic direction.

Strategic Plan Implementation

• Provide operational leadership and input for all strategic plan implementation processes.
• Coach and guide Team Leaders as they implement the strategic plan and operational initiatives.
• Work within an established tracking system in reporting progress against the strategic plan’s implementation.

Preferred Experience / Education

This is an extraordinary opportunity for an individual with extensive operational management experience to grow within a highly respected Mutual company. The successful candidate will work collaboratively with the CEO, CFO, and a highly skilled senior leadership team.

• Minimum university degree, or equivalent, with at least 10 years of experience and a track record in senior management.
• Excellence in organizational management with the ability to coach teams collaboratively.
• Deep experience in operational forecasting and fiscal management.
• Track record of effectively leading a service-oriented mutual value-based organization with a complex array of initiatives; excellent project management skills.
• Analytic and decisive decision-maker with the ability to prioritize and communicate key objectives and tactics to staff.
• Examples of leading organizational transformation projects and program development.
• Past experience managing human resources functions including personnel, compensation, and recruiting.
• Commitment to a collaborative work environment, quality programs, and data-driven evaluation.
• Ability to engage a wide range of stakeholders and cultures within a competitive and rapidly changing work environment.
• Strong written and verbal communication skills; persuasive and passionate communicator with excellent public speaking skills.
• Results-oriented, entrepreneurial in spirit and action, flexible, and innovative in operational management.
• Passion, humility, integrity, positive attitude, mission-driven, and self-directed.
• Knowledge of the insurance industry is an asset.