Company: Saudi Aramco
Skills: Financial Analyst, Insurance Adjuster, Legal
Experience: 15 + Years
Education: Bachelors/3-5 yr Degree
Location: Saudi Arabia
No location/work authorization restrictions found.
We are seeking a Claims Management Specialist to join Treasury's Insurance Management and Advisory Division (IMAD) in the Financial Management Department.
IMAD is a part of the Financial Risk Management Department in Saudi Aramco and reports to the Treasury organization. Its function is to provide support to proponents 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. It is responsible for managing the corporate insurance program and determining the reinsurance arrangements for the Company's captive insurance subsidiary. In addition, the division supports proponents and joint ventures in relation to technical insurance advice and the level of risk assumed by contracts.
You will focus on complex claims management and contract review work, which have been growing areas of activity for the division. In particular, you will focus on the management of complex claims requiring the review of incident reports, contracts, and sub-contracts to protect the Company's position or to achieve optimum recovery. The individual will expand skillsets within the existing advisory team, and will be able to assess and quantify the potential risks and liabilities assumed by agreement.
A successful candidate will have at least 15 years of relevant experience, including a comprehensive understanding of insurance/reinsurance and related markets. The successful applicant is likely to have spent extensive time (10 years) in a claims management or legal advisory environment for a major international insurance company, broker, independent consultancy, or loss adjusting firm.
You will have a bachelor's degree (preferably in law or a similar field) along with an ACII or ACILA professional designation. English language fluency is essential, and knowledge of Arabic is an advantage.
Duties and Responsibilities
You will be responsible for the following:
Assisting in the development of strategy to mitigate or transfer risk.
Assisting with negotiation, implementation, and administration of insurance and reinsurance placement structures.
Reviewing, analyzing, and commenting upon the suitability of proposed risk distribution, insurance, warranty, and environmental clauses relative to the nature of the contract activities and the parties involved.
Remaining up to date with the Company's standard contracts, and periodically working with other departments to revise and improve the content.
Leading, coordinating, and administering claims, including loss assessment and negotiations with proponents and third parties.
Representing the department/division as part of incident investigation committees.
Negotiating and finalizing claims settlements, and pursuing recovery from third parties.
Managing and coordinating the activities of the broker, insurer, loss adjuster, risk engineers, and other service provider activities in relation to losses and claims.
Reviewing and advising on appropriate changes to insurance policy wording coverage.
Quickly establishing credibility in the position and effectively interacting with all levels of management, including senior leadership.