Operational Challenges Faced by Operations Manager | Zambia

Added on -2020-02-18

| 16 pages| 3505 words| 81 views

Trusted by 2+ million users,
1000+ happy students everyday

Showing pages 1 to 4 of 16 pages

Operation Manager1Job Description of an OperationManager
Operation Manager2Table of ContentsIntroduction................................................................................................................................3Job Description of Operations Manager....................................................................................3Overview of the Zambian Insurance Industry............................................................................4Operational Challenges faced by Operations Manager..............................................................6Adoption of New Technologies.............................................................................................6Inappropriate Pricing Problems..............................................................................................7Dependency on an Ageing Workforce and Shortage of Qualified Staffs..............................7Volatility of Returns faced by Shareholders with Underwriting Issues.................................8Dependency on Brokers and Agents......................................................................................8Lack of Needed Awareness....................................................................................................9Manner of addressing the Operational Challenges....................................................................9Development of Technological Environment........................................................................9Solutions to Issues concerning Inappropriate Pricing..........................................................10Development of Staffing Standards.....................................................................................11Solutions to Problems concerning Underwriting and Volatility..........................................11Generating Awareness and Educating Consumers..............................................................12Conclusions..............................................................................................................................12References................................................................................................................................14Appendix..................................................................................................................................15
Operation Manager3IntroductionThe report would focus on reflecting the roles required to be played by an OperationsManager in the reinsurance broking industry of Zambia. It would thereby reflect on thepotential challenges that are faced by the Operations Manager in the reinsurance brokingindustry with also understanding different solutions that are generated thereof for counteringthe potential problems. Job Description of Operations ManagerAs an Operations Manager, Guardian Reinsurance Brokers requires the ideal candidate foridentifying and soliciting new business opportunities that ideally match the strategicobjectives of the organization. The candidate is also required to be responsible for conductingthe overall operation in the reinsurance broking organization. Further, the OperationsManager is also required to ensure the potential compliance of policies, rules and conductsand also business procedures of the reinsurance broking firm. Guardian Reinsurance Brokersalso requires the candidate for the Operations Manager position to fulfill the regulatory andlegal requirements associated to the reinsurance broking job. The ideal candidate is requiredby Guardian Reinsurance to work in an effective fashion for addressing the long and shortterm objectives associated to the respective business policies and also to formulate neededstrategies. The Operations Manager to be duly appointed would also be responsible fortraining and development of junior staffs in the Reinsurance Broking firm such that thetrained staffs would ideally help in meeting the departmental and organizational objectives.Further, the Operations Manager is also required to work in an integrated fashion with otherdepartments like human resources, sales and marketing and finance for meeting the coreobjectives of the organization. Similarly, as the Operations Manager the individual would beheld responsible for meeting and communicating with potential clients on a day-to-day basisfor addressing the customer relationship management objectives of the firm. The OperationsManager to be selected is also required by Guardian Reinsurance Brokers for addressing theemergence of contingent situations and emergencies associated to the reinsurance business.The Operations Manager is also required to effectively supervise and monitor theunderwriting and claims management activities of the organization. From the point of view of
Operation Manager4customer relationship management, the Operations Manager of Guardian ReinsuranceBrokers is required to both effectively identify and record complaints generated by customersand also is required to either address or escalate the same to higher authorities. TheOperations Manager is also required by the firm to rightly participate in external auditactivities and also in inviting new business tenders. Again, the Operations Manager is alsorequired to aptly distribute and allocate the total organizational task between different teamsand departments based on needed competencies. Effective work management conducted bythe Operations Manager potentially contributes in accomplishing the organizationalobjectives within the stated duration. The Operation Manager in term with other departmentalheads is required to focus on convening meetings for setting of team budgets regarding costsand expenses and also identifying of business targets. The Operations Manager is alsorequired to effectively negotiate with difficult clients for sustaining the goodwill of the firmand also in addressing the needs of the customer in a professional fashion. The Operations Manager to be appointed by the Guardian Reinsurance Broker is required toeffectively reflect good interrelationship and communication skills along with having aneffective knowledge of the reinsurance industry. Further, the Operations Manager is alsorequired to work in maintaining effective liaison with both internal and external stakeholdersand is also required to work in a diplomatic fashion for dealing with emerging issues. TheOperations Manager is also required to work in a passionate fashion for generating the rightquality of customer services and is also required to brainstorm potential solutions to emergingbusiness and operational problems. The Operations Manager is also required to report in aday-to-day fashion and thereby is required to have knowledge of Management InformationSystems required for the Reinsurance Industry. Apart from having a degree in Insurance andsupported by a competent authority, the Operations Manager is also required to work as aneffective team player. The Operations Manager is thereby also required to play a leadershiprole in directing and streamlining the decisions of team members for fulfillment of group andinstitutional objectives. Overview of the Zambian Insurance Industry The insurance industry of Zambia is essentially observed to be constituted by the followingtypes of institutions underlined as follows during 2016.

Found this document preview useful?

You are reading a preview
Upload your documents to download
or
Become a Desklib member to get accesss

Premium

$45

Q&A Library Access

Chat support

12

Document Unlocks

4

Answer Unlocks

Students who viewed this