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Claims Management Specialist

Saudi Aramco

10 - 15 years Saudi Arabia - Saudi Arabia

Any Nationality

, Posted on January 15, 2018 1 Opening

Job Description

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Position Description:
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 business line 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.
The selected candidate 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 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.

Industry Type : Oil & Gas / Petroleum
Functional Area : Finance / Treasury

Desired Candidate Profile

Minimum Requirements:
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 & Responsibilities:
The selected candidate 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.


Liabilities Claims Service Reinsurance Captive Financial risk management Incident investigation corporate insurance Financial management English language

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Saudi Aramco

Saudi Aramco is a national petroleum and natural gas company based in Dhahran. It has the world's largest proven crude oil reserves and has the largest oil production. It manages proven conventional crude oil and condensates reserves of nearly 261.1 billion barrels. Saudi Aramco has offices in various locations, including London (UK), New Delhi (India), The Hague (Netherlands), Milan (Italy), Houston and Washington (USA), Beijing, Xiamen and Shanghai (China), New York (USA), Tokyo (Japan), and Seoul (Republic of Korea). The company’s oil and gas production infrastructure leads the industry in terms of technical advances, production scale, and operational reliability.

Recognized as the global leader in hydrocarbons exploration, distribution, marketing, refining and production, the company’s subsidiaries and affiliates are located across the globe. It employs over 65,000 employees worldwide and continues to create more career opportunities for individuals who can recognize the company’s values along with their own achievements. Delivering on its core mission of emerging as the world’s top integrated energy and chemical enterprise, the company invests heavily in pioneering new technologies and developing the expertise of its people. Saudi Aramco is one of the best employers that offer a learning environment and a growing work culture.

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Website https://apply.aramco.jobs/jobs/1170405?%3Flang=en-us

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