Insurance Risk Specialist

About Saudi Aramco

Saudi Aramco is a leading global producer of hydrocarbon energy and chemicals, playing a significant role in the world economy. Headquartered in the Kingdom of Saudi Arabia, the company operates with a commitment to maximizing the value of energy produced while enhancing its societal contributions. With a history spanning nine decades, Saudi Aramco combines market discipline with a long-term view of the future, driven by its stewardship of the Kingdom’s vast hydrocarbon resources.

The Role: Insurance Risk Specialist

Saudi Aramco is seeking an experienced Insurance Risk Specialist to join its team. This full-time role involves applying specialized knowledge in insurance and risk management to support the company's operations. The successful candidate will contribute to developing and implementing risk mitigation strategies, managing insurance placements, and coordinating with various internal and external stakeholders.

Key Responsibilities

• Demonstrate strong interpersonal and communication skills to establish credibility with internal and external parties.
• Work effectively in a team-oriented environment, with the ability to manage workloads independently and for others to meet deadlines.
• Deliver high-quality work and proactively resolve issues to ensure successful project completion.
• Apply project management skills and a comprehensive understanding of contractual risk to offer logical and innovative solutions.
• Utilize working knowledge of captive insurance companies.
• Develop strategies for risk mitigation or transfer.
• Analyze, critique, and draft contract provisions related to risk allocation, indemnity, and insurance.
• Negotiate, implement, and administer insurance and reinsurance placement structures, including the optimal use of captive or alternative finance mechanisms.
• Develop and advise on the implementation of risk and insurance policies and procedures.
• Manage and coordinate activities of brokers, insurers, consultants, and other service providers, including risk engineering and asset appraisals.
• Negotiate claims and pursue recovery from third parties.

Qualifications and Experience

• A Bachelor’s degree, preferably in insurance or risk management, from a recognized and approved program.
• Professional certifications such as ACII, CMIRM, SIRM, or CPCU are preferred.
• A minimum of 15 years of experience in the oil & gas, petrochemical industry, or a major corporate organization.
• Significant corporate risk and insurance expertise gained from industry, international broking, risk management, or an insurance company background, with experience in the energy and petrochemical sector being ideal.

Work Environment

This is a full-time position within a global energy company known for its significant investments in technology and infrastructure. The role requires an individual who can work effectively with minimum supervision and collaborate within a team-oriented environment to meet challenging deadlines.

Application Process

Qualified candidates are invited to apply for this position. Salary details will be discussed during the interview process.