Job Title: Chief Operating Officer
Salary: DOE £110,000pa / £125,000 pa
Location: Birmingham
About the job:
The Chief Operating Officer (COO) will play a pivotal role in steering the company towards its strategic goals, ensuring that all operational functions are robust, future-focused, and capable of evolving with changing market demands. As a core member of the Executive team, the COO will lead operations across our Insurance, IT, Change and People Success Team, driving excellence and efficiency in our service delivery. The COO will be instrumental in spearheading our transition to a digital-first approach, firstly by embedding our new insurance operating system, strengthening operational resilience and ensuring the long-term sustainability of our business. The ideal candidate will bring a proven track record within regulated environments, with experience in managing operations functions, IT, Change and HR within a dual-regulated framework and, preferably, previous FCA/PRA approval under the Senior Managers and Certification Regime (SMCR).
Responsibilities include:
Lead Digital Transformation and Innovation: Drive the adoption of digital service models that enhance customer experience, streamline operations, and reduce costs, continually challenging conventional methods with scalable, technology-driven solutions that support a digital-first future.
Champion Operational Resilience and Adaptability: Ensure core business operations are resilient and adaptable, addressing challenges proactively to maintain seamless service delivery and foster agility in response to market changes.
Oversee Technology and AI Integration: Lead IT strategy and initiatives within the business, aligning technology goals with strategic priorities. Identify and implement AI-driven tools to enhance decision-making, operational efficiency, and customer service.
Manage Regulatory Responsibilities - SMF24: Hold SMF24 responsibilities within the insurance business, ensuring compliance with the Senior Managers and Certification Regime (SMCR).
Drive Compliance and Data Integrity: Ensure all operations comply with FCA and PRA standards, embedding data quality and risk management best practices to uphold integrity and regulatory compliance.
Promote Efficiency for Profitability: Implement technology-driven solutions to optimise operational efficiency, reduce costs, and support sustainable growth and profitability across the business.
Collaborate on Product and Growth Strategy: Partner with the Executive team to introduce new products, rationalise the portfolio, and execute scalable operations that support growth goals.
Lead Business-Wide Change Initiatives: Act as a change leader across the organisation, guiding teams through transformation initiatives aligned with the company's strategic goals and fostering an adaptable, growth-focused culture.
Review and Monitor Operational Budgets: Work closely with the CFO and Executive team to review, sign off, and monitor operational budgets, ensuring resources are allocated effectively to achieve business objectives.
Act as a Culture Ambassador: Champion company values and behaviours, promoting a positive and inclusive workplace culture that aligns with the mission and strategic vision.
Mentor and Develop Staff: Serve as a mentor and coach across the business, championing career development and supporting staff growth in alignment with the organisations commitment to employee advancement.
Establish and Monitor Performance Metrics: Develop and track key performance indicators (KPIs) to measure operational success, customer satisfaction, and profitability, ensuring accountability and a continuous improvement mindset.
Ensure Customer-Centric Operations: Prioritise customer satisfaction through efficient, responsive service models that meet customer expectations and maintain industry standards, making the customer central to operational improvements.
Person specification:
Proven track record of success working within in executive leadership roles, with at least 3 years of experience in a COO or equivalent position.
Regulatory and Compliance Expertise: Strong knowledge of FCA and PRA regulations, GDPR, DPA with a good understanding of the Senior Managers and Certification Regime (SMCR).
Industry Knowledge: Good understanding of the health and wellbeing/cash plan sector & insurance, including key industry trends, emerging technologies, and regulatory changes.
Digital Transformation and AI: Proficiency in digital and AI-driven transformation processes, with a strong grasp of digital service models, automation, and data-driven decision-making to support operational efficiency and customer engagement.
Risk Management Frameworks: Familiarity with Risk Management principles, risk appetite frameworks, and methodologies for managing operational, strategic, and reputational risks.
Financial Acumen: Strong knowledge of financial management, budget planning, and cost optimisation within a regulated environment to support the company’s profitability goals.
Senior Leadership in a Regulated Environment: Extensive experience in a senior operational role within a regulated industry, ideally with previous FCA/PRA approval under SMCR.
Operational and Strategic Planning: Demonstrable track record of developing and executing operational strategies that align with overall business goals and drive scalable growth.
Change Management and Transformation: Proven experience leading digital transformation initiatives, embedding new technologies, and fostering a culture of adaptability and innovation.
Customer-Centric Operational Leadership: Experience in creating and managing customer-focused service models that emphasise customer experience, satisfaction, and loyalty.
Budget Oversight and Financial Planning: Hands-on experience with budget management, cost control, and strategic financial planning, collaborating closely with executive leadership to ensure financial sustainability.
Cross-Functional Collaboration: Background in working effectively with executive teams, as well as IT, finance, compliance, and risk functions, to ensure cohesive and aligned operations across the business.