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SMW Recruitment is working in partnership to find a Insurance Risk Specialist to join Insurance Management & Advisory Division (IMAD) of Financial Risk Management Department (FRMD), based in Dhahran, Saudi Arabia.
IMAD is concerned with company 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 Divisions 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.
Job Description:
- 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 & 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.
Company Benefits:
- Permanent Employment on an Indefinite Term Employment Agreement.
- Company Incentive Plan: This is a broad-based annual and performance based incentive plan based on company and individual performance, base salary, and length of service during the plan year. The objective of this plan is to drive organizational performance, as well as, recognize and reward your contributions beyond the normal annual merit increases.
- Annual repatriation travel allowance: An annual cash payment that more than covers airfare costs to your home country. You have full flexibility to use this payment in any way you choose.
- Annual vacation: You can look forward to up to 38 calendar days of paid leave each year. In addition, you'll typically be granted between 9 and 11 days of national public holidays each year.
- Severance award: In accordance with the Saudi labor law, a severance award is payable by the company to employees who leave after two years or more of satisfactory service. The severance award is based on length of continuous service and final base pay. The severance award can be a substantial benefit for longer service employees.
- Education Assistance Plan: If you are hired on family status, you may be eligible to benefit from the company's excellent education assistance plan for dependent children. This may include the option for them to attend company's high quality private schools or to attend international schools in the local community.
- Quality housing in company communities or a rental assistance allowance: We have four communities in the Eastern Province where we provide quality accommodation in pleasant surroundings. Alternatively, employees may obtain housing in the local communities outside of the Company communities, for which we provide a rental assistance allowance.
- Free medical care: We provide medical care via our Johns Hopkins medical network or contracted hospitals and clinics. These facilities are among the finest in the Middle East.
- Free access to recreational facilities: You will have access to our extensive range of recreational facilities that include: private beaches, tennis courts, exercise gyms, swimming pools, golf courses, tennis and squash courts, and much more.
- Free scheduled transportation: Air-conditioned buses are provided free of charge for transportation within camp areas, to work locations, local shopping areas outside camp, the beach and our other communities.
- Voluntary Group Life and Accident Insurance: you may enrol in a voluntary program providing term life insurance and accidental death and dismemberment (AD&D) coverage equal to 12, 18, 24 or 30 times your monthly base salary. Favorable group rates keep the premium low.
- Short-term Disability: In the event you are unable to work due to illness or injury, short-term disability income benefits are provided. The benefit is 30 days full pay and 60 days at three-quarters pay, in any one year period.
- Death Benefit: Company pays an ex-gratia death benefit equal to 24 months base pay if death is from an industrial accident and 12 months base pay if death is non-industrial related.
- Career development: We recognize and value professional growth and achievement, so you'll have many opportunities to develop your career and expertise.
Requirements:
- Bachelors or Masters degree, preferably in insurance or risk management from a recognized and approved program.
- Minimum of twelve years experience in the oil & gas, petrochemical industry or a major corporate organization.
- Willing to Relocate to Saudi Arabia
- Currently Living/Working in Australia or New Zealand.
For more information, please contact Sophia on +44 7443 784 109.
