Chief Digital Officer at Coronation Insurance Plc

Role Summary

• The Chief Digital Officer (CDO) role will be responsible for the leadership, planning, and implementation of the digital vision and strategy for the Coronation Insurance verticals.
• The role will lead the ongoing commitment to support and promote the use, transformation, deployment, and adoption of the Coronation Insurance digital strategy that advances the overall mission of the insurance group As the CDO, the role will provide the vision and leadership to develop and implement digital strategies and initiatives for the insurance verticals as well as play a crucial role in driving innovation, enhancing operational efficiency, and ensuring that the company's digital operations align with business objectives.
• The CDO will be responsible for anticipating and maintaining a vision for future digital technology needs, and for recommending strategies, priorities, and projects that will best achieve the Coronation Insurance group’s strategic digital goals and objectives.

Key Stakeholders

• The CDO is responsible for the strategic leadership of the digital strategy in the insurance group. The role will interact primarily with the Technology Leads, Executive Management and digital initiative owners across the insurance verticals.

Role Responsibilities
Leadership:

• Develop a clear and compelling digital strategy for the Insurance Group.
• Provide oversight to all digital projects and regularly communicate to Executive Management and Board of Directors.
• Serve as a strategic business leader and advisor, counselor, functional expert, and thought partner to the executive leadership team of the insurance verticals.
• Establish and maintain trusted relationships with key stakeholders on all issues coming from domain expertise.
• Promote strong interpersonal relations, marketing the digital agenda in a creative and effective manner and working to develop strong inter-group relationships.
• Ensure that digital initiatives are fully integrated with the strategic-planning process, including leadership commitment and resource allocation.
• Cultivate and maintain partnerships and relationships with external entities.
• Develop reciprocal relationships with the domestic and international community in areas such as best practices and benchmarking.
• Interface closely with executive management in the group office and with the insurance verticals to coordinate and execute strategic plans.
• Provide thought leadership and managing all decisions and strategic processes that support architecture, design, functionality, scope and long-term planning.
• Provide oversight function in optimizing and managing digital technology initiatives within the insurance group to ensure technology delivers high efficiency with sufficient resilience.
• Lead change management efforts to ensure that digital projects deliver change through the business and are ‘owned’ by the business.

Digital Strategy and Transformation: 

• Conduct presentations to management related to the impact of the short- and long-range strategic plans, ensuring that plans incorporate research findings and recommendations of key stakeholders.
• Guide the design of policies, processes, and programs that support the overall digital strategy.
• Work with teams across the businesses to generate innovative digital solutions for products, services, processes, customer experiences, marketing channels, and business models.
• Oversee the development and maintenance of the frameworks, standards, and strategies that will empower the business and people to achieve the organization’s objectives.
• Drive digital transformation initiatives to enhance the overall business processes and leverage data analytics for data-driven decision-making.
• Foster a culture of innovation within the technology teams, encouraging the exploration of new digital technologies and solutions to maintain a competitive edge in the financial services industry.

Business Management and Support:

• Partner with insurance verticals executives to understand the digital business objectives, guide, and support in the delivery of solutions that support these objectives.
• Collaborate with technology vendors and external partners to evaluate, select, and manage strategic relationships that complement the company's digital capabilities.
• Negotiate contracts and service-level agreements to ensure the delivery of high-quality products and services.
• Prepare and manage the budget, optimizing resource allocation to meet project requirements and business needs.
• Provide financial analysis and reporting to support decision-making related to digital technology investments and cost-effectiveness. ▪ Identify skill gaps and training needs within the function and implement talent development programs accordingly.
• Build and lead a high-performing team, fostering a culture of collaboration, innovation, and continuous learning.
• Define and provide direction in the implementation of the business engagement model to ensure continuous and effective collaboration across the insurance verticals.
• Oversee the due diligence and software selection process for new software and tools; provide guidance in the negotiation, pricing and contracts.
• The CDO may also take on other tasks and responsibilities as assigned.

Requirements
Work Experience:

• Minimum of a Bachelor’s Degree in Computer Science, Information Technology, or related field.
• Minimum of 15 years relevant work experience, with 5 years in a technology/digital leadership role.
• Proven track record in developing and executing digital strategies that align with business goals.
• Experience in driving digital transformation initiatives and leveraging emerging technologies to drive innovation.
• Leadership experience in a financial services or technology consulting role.
• Possession of relevant certifications, such as CISSP, CISM, PMP, or ITIL.

Technical Competencies:

• Strong understanding of financial services operations, regulations, and compliance requirements.
• Demonstrated and expertise ability in the full continuum of digital technology and business practices.
• Expertise in information security, risk management, and business continuity planning.
• Familiarity with cloud computing, data analytics, emerging digital technology and practices and other digital trends in the financial services domain.
• Demonstrated track record of success in:
• Leading strategic initiatives.
• Coalition and relationship building across a diverse group of stakeholders.
• Leading significant cross-functional initiatives in diverse and complex organizational settings.
• Change Management – ability to identify and drive organizational and cultural transformation.
• Relationship management – ability to build and cultivate relationships with a wide variety of internal and external stakeholders.
• Adaptability – flexible, agile mindset, optimistic approach; committed to overcoming challenges; comfortable with change and ambiguity.
• Ability to thrive in a fast-paced and achievement-oriented environment; Managing towards outcomes and ambitious goals.
• Financial Management – ability to interpret financial information and its impact on the business; ability to substantiate strategic decisions with financial data and results.
• Project Management – ability to organise and manage resources necessary to drive the delivery and completion of projects on time, in scope and within budget.
• Fluency in data analytics and applicable tools.

Behavioral Competencies:

• Ability to develop a vision and inspire others to achieve shared goals.
• Executive Decorum – ability to demonstrate executive disposition that reassures others, internal and external to the organization, and that commands respect. Be willing to serve as public champion of organizational decisions and values.
• Emotional Intelligence – ability to handle interpersonal relationships judiciously and empathetically; role model emotional intelligence through one’s capacity to be aware of, control, and express emotions.
• Communication Skills – ability to deploy verbal, nonverbal and visual communication and to convey, share ideas and feelings effectively including listening, speaking, observing and empathising.
• Superior management skills – ability to influence and motivate others to achieve outstanding results.
• Strategic mindset, analytical thinking, and the ability to make data-driven decisions.
• Ability to work independently and manage multiple responsibilities simultaneously.
• Integrity and clarity in all communications and interactions.
• Coaching – ability to coach and equip upcoming leaders/managers with the tools, knowledge, and opportunities to fully develop themselves to be effective in their commitment to themselves, the company, and their work.
• Candor – comfort leading difficult conversations with adults, guided by making decisions that are in the best interests of the organization.
• Innovation/Out-of-the-box thinking – ability to seek out and adopt innovative approaches to technology.
• Authenticity – ability to gain the trust of others and consistently act with integrity Education and