job specifications of Chief Operating Officer and job responsibilities of chief operating officer of Dubai Islamic Bank.

Dubai Islamic Bank

The main objective of this study is to analyze the general job specifications of Chief Operating Officer and job responsibilities of chief operating officer of Dubai Islamic Bank. It is also endeavors to check the degree of alignment of these two factors. It is need to mention the gap areas of the two factors and discus necessary factors to overcome these gap areas. This study is endeavors to analyze the job responsibilities of the chief operating officer of Dubai Islamic Bank.

1. Introduction

The Dubai Islamic Bank was established in 1975 in Dubai, United Arab Emirates. The bank is functioning and operating it business on the basis of Islamic principles. Dubai Islamic Bank is largest Islamic bank of United Arab Emirate. It is providing various financial services to its customers. The Dubai Islamic Bank offers a variety of products and services like bank accounts facilities, auto financing, home financing, personal financing etc. Most of people are feared with commercial banking system and found the real halal source of financing. The Dubai Islamic Bank provides pure Islamic interest free financial services to all its customers (Home – Dubai Islamic Bank, 2020). The human resource management of the Dubai Islamic Bank designs the job descriptions for all employees. It is needed to ask and discus the job responsibilities of the chief operating officer.

2. General Job description and specifications of Operating Officer

The operating Officer of the organization plays a significant role for the organization. The chief operating Officer is responsible to perform the various major responsibilities which are directly linked with company’s operation (Cha, Kim, Cichy, Kim, and Tkach, 2013). The following are the major responsibilities of the chief operating Officer.

The chief operating Officer is responsible to supervise the working of different departments (Perkins, 2017).
The chief operating Officer is directly involves in financial analysis, examine the organization’s financials and use financial information to increase the organization wealth and profit (Marcel, 2009).
The chief operating Officer is liable to prepare financial and operating budget (Perkins, 2017).
The operating Officer is responsible to adopt various strategies for company profit maximization and wealth maximization (Marcel, 2009).
The chief operating Officer is also liable to handle the inventory management and makes planning about the inventory scheduling (Perkins, 2017).
It is also the major responsibility of operating Officer to improve the organization’s strategies and procedures (Marcel, 2009).
The chief operating Officer is liable to formulate and implement the company’s policies and strategies to increase revenues and profit (Perkins, 2017).
It is necessary for the operating Officer to monitor and follow rules and regulations. He or she is liable to ensure that all the departments are followed the company’s policies and strategies (Cha, Kim, Cichy, Kim, and Tkach, 2013).
The chief operating Officer is answerable about the human resource management practices (Perkins, 2017).
He or she is responsible to supervise and monitor the various practices of human resource management department like, recruitment and selection and placement practices, training and development practices, working scheduling etc (Cha, Kim, Cichy, Kim, and Tkach, 2013).

3. Job specifications and descriptions of Operating Officer of Dubai Islamic Bank

Obaid Al Shamsi, is a chief operating officer of Dubai Islamic Bank in Dubai United Arab Emirates (Home – Dubai Islamic Bank, 2020). I met with human resource manager of Dubai Islamic Bank and ask about the job specifications and responsibilities of chief operating officer. The following are major responsibilities performed by Obaid Al Shamsi.

The chief operating officer of Dubai Islamic manages the various department of its domain.
He makes various policies and strategies for the company to manage its functions and operations (Home – Dubai Islamic Bank, 2020).
He designs the business operations and ensures the implement these operations in smooth way (Alrawi and Elkhatib, 2011).
He directs the different departmental teams about the working and operations of departments.
The chief operating officer of the Dubai Islamic Bank meets and guides the department’s managers about their responsibilities (Alrawi and Elkhatib, 2011).
He examines the company’s financials and utilizes the financial information for the various purposes (Home – Dubai Islamic Bank, 2020).
He gets working reports form the concerned department and monitors their performance on regular basis.
He keeps the proper check and balance about the inventory management of the organization (Alrawi and Elkhatib, 2011).
He always endeavors to maximize the wealth and profit of the company and for this purpose he uses to take various policies and strategies (Alrawi and Elkhatib, 2011).
He prepares the financial and operational budgets for concern departments (Home – Dubai Islamic Bank, 2020).

4. Degree of Alignment

It is related to the comparison and measurement of the various factors to analyze levels. It is about to measure the general standard rules for specific factor and actual implemented standard of this factor (Colvin and Boswell, 2007). The study is about to analyze the alignment between general job description and specifications of chief operating officer and job specifications performed by the chief operating officer of Dubai Islamic Bank. It is measured that there is high degree of alignment between these two factors. It is found that human resource management practice is missing from the job description of Dubai Islamic Bank (Choe, 2017).

5. Strategy

It is necessary for the Dubai Islamic bank to add the human resource management practices in the job description of the chief operating officer. It is also essential for the organization to give training to chief operating officer to manage with the human management activities (Tracey, 1992).

6. References

Alrawi, K., & Elkhatib, S. (2011). A new initiative of knowledge management practices in Dubai Islamic Bank operations. International Journal of Business Innovation and Research, 5(1), 17-28.

Cha, J., Kim, S., Cichy, R. F., Kim, M., & Tkach, J. L. (2013). General managers’ and chief operating officers’ evaluations of private club boards of directors. International Journal of Hospitality Management, 32, 245-253.

Choe, J. M. (2017). The strategic alignment of management accounting information systems, and organizational performance. Global Business & Finance Review (GBFR), 22(4), 50-64.

Colvin, A. J., & Boswell, W. R. (2007). The problem of action and interest alignment: Beyond job requirements and incentive compensation. Human Resource Management Review, 17(1), 38-51.

Dubai Islamic Bank. 2020. Home – Dubai Islamic Bank. [online] Available at: <https://www.dibpak.com/> [Accessed 4 November 2020].

Marcel, J. J. (2009). Why top management team characteristics matter when employing a chief operating officer: A strategic contingency perspective. Strategic Management Journal, 30(6), 647-658.

Perkins, J. G. (2017). The role of the chief operating officer in a law firm–A personal case study. Rise of the Legal COO, 45.

Tracey, W. R. (1992). Designing training and development systems. AMACOM, Division of American Management Association, 135 West 50th Street, New York, NY 10020..