This role required candidate to permanently relocate at Dhahran, Saudi Arabia. About the Company This company engages in the exploration, production, transportation, and sale of crude oil and natural gas.
It operates through the following segments: Upstream, Downstream, and Corporate.
The Upstream segment includes crude oil, natural gas and natural gas liquids exploration, field development, and production.
The Downstream segment focuses on refining, logistics, power generation, and the marketing of crude oil, petroleum and petrochemical products, and related services to international and domestic customers.
The Corporate segment offers supporting services including human resources, finance, and information technology.
The company was founded on May 29, 1933 and is headquartered in Dhahran, Saudi Arabia.
Job Summary We are seeking an Insurance Risk Specialist to join Insurance Management & Advisory Division (IMAD) of Financial Risk Management Department (FRMD) at This Company.
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.
Key Responsibilities: Demonstrate excellent interpersonal and communication skills to establish credibility with internal and external stakeholders. Be flexible, team-oriented, and able to work with minimal supervision, meeting challenging deadlines, and effectively planning and coordinating workloads for self and others. Deliver work of the highest quality and proactively address issues to ensure successful delivery. Possess strong project management skills, understanding contractual risks, and providing logical and innovative solutions to complex issues. Apply knowledge of captive insurance companies and develop strategies to mitigate or transfer risk. Analyze, critique, and draft risk allocation, indemnity, insurance, and other contract provisions. Negotiate, implement, and administer insurance and reinsurance placement structures, including utilizing captive or alternative finance and transfer mechanisms. Develop and advise on the implementation of risk and insurance policies and procedures. Requirements: Willingness to relocate to Dhahran, Saudi Arabia. Hold a Bachelor's or Master's degree, preferably in insurance or risk management from an accredited program.
A professional certification such as ACII, CMIRM, SIRM, or CPCU is preferred. Possess a minimum of 12 years' experience in the oil & gas, petrochemical industry, or a major corporate organization. Have significant relevant corporate risk and insurance expertise acquired from industry, international broking, risk management, or insurance company background. Ideally, have experience in the energy and petrochemical industry sector.
