Insurance Risk Engineering Consultant

Saudi Arabia
29 Jan 2016
06 Jan 2017
Oil and Gas
Contract Type
Full Time
Position Description
Assets and Casualty Risk Management Division is part of the Financial Risk Department in Treasury. 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.

Saudi Aramco, a global leader in oil exploration, production and refining is seeking a risk engineer to join the Assets & Casualty Risk Management Division to analyze risk exposures, design strategies and procure insurance to protect assets and mitigate the liabilities of a growing Company. The successful applicant will be involved in all aspects of the Division's wide-ranging activities, but will have specific responsibility for leading the ongoing risk engineering survey program of the Company's key production assets and associated activities along with coordinating and managing the Division's response to major casualty loss events.

The successful applicant will possess significant engineering experience gained from a career in the oil, gas or petrochemical industry sectors, in addition to insurance and risk management expertise obtained from a risk engineering or control function performed on behalf of international 'blue-chip' insurance companies or brokers.

We expect candidates to have the ability to establish personal credibility with various internal and external parties and to demonstrate excellent interpersonal and communication skills. Applicants must be team orientated, able to work with minimum supervision to meet challenging deadlines.

Minimum Requirements
A Professional chemical or mechanical engineering degree and professional accreditation: CEng or IEng;
ACII, MIRM, SIRM, or CPCU professional insurance or risk management qualification.
At least 10 years industry experience within the oil, gas or petrochemical sectors;
At least 5 years' risk control or risk engineering experience gained from roles within risk management or insurance.
A comprehensive understanding of insurance / reinsurance and related markets.
English language fluency and knowledge of Arabic is an advantage.

Duties and Responsibilities
Assist in the development of strategy to mitigate or transfer risk;
Assist with negotiation, implementation and administration of insurance and reinsurance placement structures;
Provide risk engineering or control consultancy to business units;
Develop and maintain credible loss scenarios and maximum possible loss calculations for key locations and others as required;
Lead, coordinate and administer claims, including loss assessment, negotiations with proponents and third parties;
Negotiate and finalize claims settlements and pursue recovery from third parties;
Coordinate and manage asset appraisal and valuation exercises (including the appointment of appropriately qualified contractors);
Manage and coordinate broker, insurer, loss adjuster, risk engineers and other service provider activities;
Mentor and develop staff;
Represent the interests of division at internal and external meetings and assignments.