Chief Operating Officer (health insurance)
SkyWater has been retained on behalf of a long-term mid-sized (<$250M in revenue) client to identify their next Chief Operating Officer. Our client is has been a well-established organization in the health insurance & benefits space for the past 50 years, and they are looking for this COO to work with the CEO to help facilitate their continued growth through developing a best-in-class Operations foundation.
The Chief Operating Officer (COO) directs, coordinates, and administers all aspects of the organization’s operations teams (excluding the General Counsel, Finance, & Technology) in support of goals, policies, and objectives established by the Chief Executive Officer (CEO). The COO will be instrumental in developing an infrastructure for accountability within the organization and ensuring efficiency and effectiveness in all business processes.
Responsibilities
- Guide and direct the preparation of short-term and long-range plans and budgets based on the organization's strategic goals and objectives.
- Evaluate the performance of top management staff and teams, refining and developing new strategies or processes as needed.
- Monitor expenses and revenues, ensuring budget expectations are met or exceeded while maintaining quality and excellent service.
- Ensure units have appropriate resources to accomplish goals, negotiating for resources or reallocating funds as necessary.
- Maintain a sound plan for organizational oversight, establishing policies for management development and succession.
- Develop and install procedures to promote communication and information flow throughout the organization.
- Evaluate the performance of executives and teams, making programmatic, financial, or staffing decisions to ensure excellence in service.
- Establish relationships with employees and outside entities to ensure unit success and effective collaboration.
- Regularly meet with the CEO to communicate progress and stay current on broad issues affecting responsibilities.
- Analyze and prioritize issues within units, advising the CEO on relevant matters.
- Ensure compliance with regulations and laws in all organizational activities and operations.
- Act on behalf of the CEO in their absence.
- Understand and apply performance excellence standards, including compliance, enterprise risk management, and quality.
- Oversee the day-to-day operations of the company, developing and implementing operational policies and procedures.
- Monitor and analyze performance metrics to identify areas for improvement.
- Collaborate with the CEO and executive team to develop long-term strategic plans and identify growth opportunities.
- Lead initiatives to improve operational performance and achieve strategic goals.
- Lead, mentor, and develop a high-performing team, fostering a positive and productive work environment.
- Oversee budgeting, forecasting, and financial planning, implementing cost-control measures.
- Identify and mitigate operational risks, developing and implementing risk management policies and procedures.
- Ensure high levels of customer satisfaction, develop strategies to improve customer experience and address feedback.
Desired Skills and Experience
- COMPETENCIES
- Proven experience as a COO or in a similar senior management role.
- Strong understanding of business functions such as HR, finance, operations, marketing, etc.
- Demonstrated experience in strategic planning and business development.
- Skill in interacting with executive management and board members, both internally and externally.
- Strong communication and employee management, coaching and mentoring skills. Ability to lead a diverse team of exempt and non-exempt employees
- Strong project management skills. Ability to lead cross-functional project teams.
- Ability to analyze current procedures, evaluate alternatives, recommend and implement necessary changes.
- Ability to organize and prioritize work in a fast-paced complex unit. Flexibility to adapt to rapidly changing priorities in a professional manner. EDUCATION
- Bachelor's degree required. Advanced degree, commonly a Master of Business Administration (MBA) preferred. EXPERIENCE
- Minimum of 15 years of progressive, related professional and technical experience
- Experience in the health insurance insurance
- Proven track record of successfully managing and leading large teams
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