Job Purpose
We are seeking an Insurance Risk Specialist to join Insurance Management & Advisory Division (IMAD) of Financial Risk Management Department (FRMD) at Saudi Aramco.
IMAD is within Treasury and its function is to provide support across the Company through the identification, quantification and mitigation of casualty risks and to reduce the cost of insured and uninsured loss to the Company, its subsidiaries and affiliates.
The Insurance Risk Specialist will analyze risk exposures, design strategies and procure insurance to protect assets and mitigate the liabilities of a growing company. The Insurance Risk Specialist will be involved in all aspects of the Division’s wide-ranging activities.
Responsibilities
- Demonstrate excellent interpersonal and communication skills with the ability to establish personal credibility with various internal and external parties.
- Be flexible, team orientated, and able to work with minimum supervision to meet challenging deadlines and competent to plan and coordinate workloads for themselves and others.
- Add value by delivering work of the highest quality and be able to proactively overcome issues to ensure delivery.
- Possess good project management skills, a thorough understanding of contractual risk and be able to offer logical and innovative solutions to complex issues.
- Apply working knowledge of captive insurance companies.
- Develop strategy to mitigate or transfer risk.
- Analyze, critique and draft risk allocation, indemnity, insurance and other related contract provisions.
- Negotiate, implement and administer insurance and reinsurance placement structures (including optimal use of captive or alternative finance and transfer mechanisms).
- Develop and advise on the implementation of risk and insurance policy and procedures.
Education & Experience Requirements
- As the successful candidate, you will hold a Bachelors or Masters degree, preferably in insurance or risk management from a recognized and approved program. A professional certification such as ACII, CMIRM, SIRM, or CPCU is preferred.
- You will have a minimum of twelve years’ experience in the oil & gas, petrochemical industry or a major corporate organization.
- You will possess significant relevant corporate risk and insurance expertise obtained from industry, international broking, risk management or insurance company background and ideally with experience of the energy and petrochemical industry sector.
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