Chief Operating Officer (COO)
Definition: The Chief Operating Officer is responsible for the daily operations of the organization typically reporting to the highest ranking executive, usually the Chief Executive Officer (CEO). The COO will provide the leadership, management and vision necessary to ensure the organization has the proper operational controls, administrative and reporting procedures, and personnel systems and operating efficiency.
- Direct or coordinate the organization’s financial and budget activities to fund operations, maximize investments, or increase efficiency.
- Appoint department heads or managers and delegate responsibilities accordingly.
- Analyze operations to evaluate performance of the organization relative to meeting objectives or to determine areas of potential cost reduction, program improvement, or policy change.
- Direct changes or implement plans based on evaluated performance metrics to maximize return on investment or increase productivity.
- Prepare budgets for approval by CEO and Board of Directors.
- Work with board members, team members, and direct reports to address issues, coordinate activities, or resolve problems.
- Establish departmental responsibilities and coordinate functions along department lines.
- Negotiate and approve contracts or agreements with suppliers, distributors, clients, or other organizations as required.
- Review, approve, or recommend changes to staff member reports.
- Deliver speeches, write articles, or present information at meetings to promote services or accomplish objectives.
Key Skill Requirements
- Use of logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Giving full attention to what others say, taking time to understand their points, asking questions as appropriate and not interrupting at inappropriate times. Demonstrate good listening skills.
- Accurately assess personal performance, that of others, and the organization to make improvements or take corrective action.
- The ability to bring others together to reconcile differences.
- Good persuasive, teaching, and communication skills.
- The ability to identify complex problems, review related information, and develop options to implement solutions.
- Excellent motivational skills.
- Understanding of business functions such as HR, Finance, Marketing, and production.
- Working knowledge of data analysis, IT Business infrastructure, and performance/operations metrics.