Claims Management Specialist

Saudi Arabia
19 Oct 2016
19 Oct 2017
Oil and Gas
Contract Type
Full Time
Position Description
Saudi Aramco's Financial Risk Management Department is seeking a Claims Management Specialist to join the Insurance Management and Advisory Division (IMAD).

IMAD is a part of the Financial Risk Management Line in Saudi Aramco and reports to the Treasurer's 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.

The required individual will focus on complex claims management and contract review work, which have been growing areas of activity for the Division. In particular, this position will focus on the management of complex claims requiring the review of incident reports, contracts and subcontracts to protect the company's position or to achieve the optimum recovery. The individual will expand the skill sets within the existing advisory team and will be able to assess and quantify the potential risks and liabilities assumed by agreement.

Minimum Requirements
The successful candidate will have a Bachelor's degree (law is preferred) along with an ACII or ACILA professional designation.

At least 10 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 and will have a detailed understanding of the application of English law in relation to contracts, claims and dispute resolution.

Ability to quickly establish credibility in the position and to effectively interact with all levels of management, including senior leadership.

Strong ability to establish and maintain networks, both within and across company organizations.

English language fluency is essential and knowledge of Arabic is an advantage.

Duties and Responsibilities
You will be required to perform the following:

Assist in the development of strategy to mitigate or transfer risk.
Assist with negotiation, implementation and administration of insurance and reinsurance placement structures.
Review, analyze and comment upon the suitability of proposed risk distribution, insurance, warranty and environmental clauses relative to the nature of the contract activities and the parties involved.
Remain up to date with the company's standard contracts and periodically work with other departments to revise and improve the content.
Lead, coordinate and administer claims, including loss assessment and negotiations with proponents and third parties.
Represent the Department/Division as part of incident investigation committees.
Negotiate and finalize claims settlements and pursue recovery from third parties.
Manage and coordinate broker, insurer, loss adjuster, risk engineers and other service provider activities in relation to losses and claims.
Review and advise on the appropriate changes to insurance policy wording coverage.