Insurance Risk Specialist (Based In Saudi Arabia)

Aramco energizes the world economy.

Aramco occupies a unique position in the global energy industry. We are the world's largest producer of hydrocarbons (oil and gas), with the lowest upstream carbon intensity of any major producer. 

With our significant investment in technology and infrastructure, we strive to maximize the value of the energy we produce for the world along with a commitment to enhance Aramco’s value to society.

Headquartered in the Kingdom of Saudi Arabia, and with offices around the world, we combine market discipline with a generations’ spanning view of the future, born of our nine decades experience as responsible stewards of the Kingdom’s vast hydrocarbon resources. This responsibility has driven us to deliver significant societal and economic benefits to not just the Kingdom, but also to a vast number of communities, economies, and countries that rely on the vital and reliable energy that we supply.

We are one of the most profitable companies in the world, as well as amongst the top five global companies by market capitalization.

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 theidentification, quantification and mitigation of casualty risks and to reduce the cost of insuredand uninsured loss to the Company, its subsidiaries and affiliates.

The Insurance Risk Specialist will analyze risk exposures, design strategies and procureinsurance to protect assets and mitigate the liabilities of a growing company. The InsuranceRisk Specialist will be involved in all aspects of the Division’s wide-ranging activities.

Responsibilities

You will be required to perform the following:

• Demonstrate excellent interpersonal and communication skills with the ability to establishpersonal credibility with various internal and external parties.
• Be flexible, team orientated, and able to work with minimum supervision to meet challengingdeadlines 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 issuesto ensure delivery.
• Possess good project management skills, a thorough understanding of contractual risk and beable 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 contractprovisions.
• 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 ininsurance 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 industryor a major corporate organization.
• You will possess significant relevant corporate risk and insurance expertise obtained fromindustry, international broking, risk management or insurance company background and ideallywith experience of the energy and petrochemical industry sector.

Working environment

Our high-performing employees are drawn by the challenging and rewarding professional, technical and industrial opportunities we offer, and are remunerated accordingly.

At Aramco, our people work on truly world-scale projects, supported by investment in capital and technology that is second to none. And because, as a global energy company, we are faced with addressing some of the world’s biggest technical, logistical and environmental challenges, we invest heavily in talent development.

We have a proud history of educating and training our workforce over many decades. Employees at all levels are encouraged to improve their sector-specific knowledge and competencies through our workforce development programs – one of the largest in the world.