The Chief of Staff (CoS) can be one of the most impactful and valued roles if the mandate is understood and clearly communicated to the c-suite and key managerial stakeholders.
If the mandate is not communicated clearly, whilst accepting the CoS and the Chief Operating Officer’s (COO) edicts will have some ambiguity, lack of clarity in responsibilities may lead to a CoS failing or at least struggling unnecessarily.
What is a CoS?
There is no definitive representation of a CoS mandate. The exactness of the role’s responsibilities and profile of the person in role will be different from one sector to another.
Within financial services the role gained popularity in the early 2000s, losing some approval and perceived value post-2008, but with the myriad of additional challenges being thrown at the industry and its executive leadership, such as ESG, diversity, the need to drive innovation and the war for talent, an additional senior person at the side of the CEO is now finding favour, and in some cases leading to the appointment of a CoS.