Oil & Gas Insurance Risk Specialist - Relocate to Saudi Arabia, Permanent Expat Relocation Package

About the role

We are seeking an Oil & Gas Insurance Risk Specialist to join the Insurance Management & Advisory Division (IMAD) of Financial Risk Management (FRMD) at Saudi Aramco. IMAD is within Treasury and provides support across the company through the identification, quantification, and mitigation of casualty risks to reduce the cost of insured and uninsured loss to the company, its subsidiaries, and affiliates.

This is a permanent, full-time expatriate position based in Saudi Arabia with an attractive relocation package. Only qualified candidates will be contacted.

Responsibilities

• Demonstrate excellent interpersonal and communication skills with the ability to establish personal credibility with various internal and external parties.
• Be flexible, team-oriented, and able to work with minimum supervision to meet challenging deadlines; plan and coordinate workloads for yourself and others.
• Add value by delivering work of the highest quality and proactively overcome issues to ensure delivery.
• Possess good project management skills, a thorough understanding of contractual risk, and offer logical and innovative solutions to complex issues.
• Apply working knowledge of captive insurance companies.
• Develop strategies 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.
• Manage and coordinate broker, insurer, consultant, and other service provider activities (including risk engineering and asset appraisals).
• Negotiate claims and pursue recovery from third parties.

Requirements

• Bachelor’s 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.
• Minimum of 15 years’ experience in the oil & gas or petrochemical industry or a major corporate organization.
• Significant relevant corporate risk and insurance expertise obtained from industry, international broking, risk management, or insurance company background, ideally with experience in the energy and petrochemical industry sector.