What does a COO do?
Chief operating officers are one of the highest-ranking executives in an organization’s hierarchy and are responsible for overseeing the day-to-day operations of the business. They play a lead role in major decision-making and provide oversight in core areas such as administration, facilities, budgeting, logistics, and human resources. They ensure systems are running properly in a safe and efficient manner. They implement policies and routines for managing resources, equipment, and personnel.
Chief operating officers typically have a minimum of a bachelor’s degree in a business field, although an MBA or other advanced degree is often expected. These roles require organized administrators with strong leadership capabilities. They must be able to monitor details of complex administrative projects while also focusing on “big picture” issues like long-term strategic planning.
- Serve as a liaison between the President, staff, and Board.
- Work closely with field managers and tax preparers to resolve payment shortages timely.
- Prepare agendas and content/presentations for board, senior team, and other key meetings. ensure clear actions and follow up.
- Collaborate with stakeholders to ensure tasks are assigned and actioned.
- Refine and communicate CEO priorities or company positioning to the company or the marketplace.
- Support analysis of, and reporting on, the organization's operations and key decisions.
- Organize and structure work assignments of cash research personnel to ensure all department.
- Respond to internal/external inquiries within 2 business days ' Perform other duties as required.
- Order replacement units as needed for each store and train staff on how to use same.
- Will be a key partner with the treasury team in dealing with our depository banks.
- Develop and manage communications on behalf of the CEO.
- Ensure all reading materials meet company wide standards for high impact meetings.
- Collaborate with members of the senior team to align cross-functional objectives and priorities with the overall goals of the organization.
- Generate and analyze reports to identify problems and trends in shortage management and staff.
- Responsible for the performance management, hiring and discipline of subordinate employees.
- As appropriate or interested, work directly with client teams on client needs.
- Ensure meetings requested with CEO are relevant, well structured and that participants are prepared.
- Create and reviews the operations budget with executive team.
- Act as a positive role model and mentor for both staff and students.
- Support operationalization of new business areas. perform diligence for new corporate development opportunities.
- Act as a strategic advisor and liaison to CEO.
- Bachelor's or Graduate's Degree in business, business administration, or engineering.
- A confident, natural leader and problem solver with demonstrated critical thinking and collaboration skills.
- Able to lead and guide an operations team and drive operations management strategy.
- Advanced comprehensive operations skills and solid business acumen.
- Able to multitask and manage multiple important tasks simultaneously.
Average Base Pay
COO Career Path
Learn how to become a COO, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
“It’s incredibly flexible and understanding of the need/desire to be committed to both career and other parts of life.”
“I have a great team that surrounds me and is the key to our success.”
“Excellent product without matching marketing and social media promotion is a major shortcoming in this day and age.”
“Each member actively seeks opportunities to support one another and provide the best possible assistance to our fellows.”
“I learned a lot and was given many opportunities to take on tasks that helped my career.”
“The pay isn’t the best considering other companies pay way more for the same role.”
“It is a great place to work and bring ones' skillsets to the market in order to do good by doing well.”
“CRS is passionate about serving customers and making sure that employees find meaning and purpose in both their career and life.”
Frequently asked questions about the role and responsibilities of chief operating officers
The typical day of a chief operating officer (COO) is spent overseeing the operations of other departments, including sales, marketing, production, and research and development. The COO works closely with the CEO as second-in-command, handling a diverse range of tasks throughout the day.
Chief operating officers have a broad range of responsibilities that can keep their work interesting. At the level of a COO, employees enjoy the benefits of a top rank in the company. One advantage of being a chief operating officer is the unique opportunity to help shape the future of the business.
The average pay for chief operating officers is $222,487 a year. The highest paying industries are typically professional, scientific, and technical services and manufacturing. To become a COO, you must have extensive managerial experience. Holding a master's degree may increase your earnings potential.
Working as a chief operating officer requires an intimate knowledge of the operating system, organizational structure, and business plan of a company. This requires a lot of knowledge and responsibility, which can create a high-pressure work environment. Another challenge of being a COO is working long hours, as this is a crucial job with a lot of responsibility.