Important Notice : By applying through LHR Americas, you are ensuring that your CV will be manually revised by one of our recruiters. If accepted, we will submit it directly to our client’s recruitment team where your CV will be prioritized for revision. If you decide to apply directly through our client’s career site as well, LHR Americas will lose all visibility of your hiring process and will be unable to support you. Additionally, your CV will be among thousands of other applicants that have a chance of not being carefully revised by our client due to the very high interest in this position. LHR Americas has direct and weekly communication with this client and will strive to represent you in the most efficient way possible.

Who is our client and your future employer?

The company where energy is opportunity!

Our client occupies a unique position in the global energy industry. They are the world's largest producer of hydrocarbons (oil and gas). With significant investment in technology and infrastructure, they strive to maximize the value of the energy they produce for the world and commit to enhancing value to society.

Headquartered in the Kingdom of Saudi Arabia and with offices around the world, our client combines market discipline with a generations-spanning view of the future, born of our nine decades of experience as responsible stewards of the Kingdom’s vast hydrocarbon resources. This responsibility has driven them to deliver significant societal and economic benefits to not just the Kingdom, but also to many communities, economies, and countries that rely on the vital and reliable energy they supply.

This company is one of the most profitable in the world and amongst the top five global companies by market capitalization.

LHR Americas

LHR Americas recruits people from around the world to work in Saudi Arabia.

Who are we looking for?

Our client is seeking an Insurance Risk Specialist to join the Insurance Management & Advisory Division (IMAD) of the Financial Risk Management Department (FRMD).

IMAD is within the Treasury and its function is to provide support across the Company through the identification, quantification and mitigation of casualty risks.

The Insurance Risk Specialist will analyze risk exposures, design strategies and procure insurance to protect assets and mitigate the liabilities of a growing company.

Minimum Requirements

• Bachelor's or Master'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.
• 12 years experience in the oil & gas, petrochemical industry or a major corporate organization.
• Significant relevant corporate risk and insurance expertise obtained from industry, international brokerage, risk management, or insurance company background, ideally with experience in the energy and petrochemical industry sector.

Key Responsibilities

• Be flexible, team orientated, and able to work with minimum supervision to meet challenging deadlines and competent to plan and coordinate workloads for themselves and others.
• Add value by delivering work of the highest quality and be able to proactively overcome issues to ensure delivery.
• Possess good project management skills, a thorough understanding of contractual risk, and be able to offer logical and innovative solutions to complex issues.
• Apply working knowledge of captive insurance companies.
• Develop a strategy 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.

Job Benefits

• Monthly Base Salary – aligned with company employees with similar skills
• Monthly Over base – 25% of your monthly base salary
• Benefits Supplement – 20% of your monthly base salary, after 3 years of service, reward increases to 25% of base, after 6 years 30% of base, and after 12 years 35% of base
• Severance Package (2-year vest period) – year 2 to 5 : 2 week's pay for each year of service, Year 6+ : 4 week's pay for each year after
• Employment Tax – if the employee chooses to separate themselves from their ‘home country’ for income tax purposes, most will not be required to pay ‘home country’ income taxes; the company will not report income to the ‘home country’ governments. Please check with your tax advisor for specifics relating to you
• Employee Share Purchase Plan (ESPP) (eligible after 12 months of service) – maximum purchase equal to 10% monthly base pay with a cap, 20% share discount
• Incentive Plan – annual; based on performance, approx. 1.8x monthly base salary
• Travel Allowance – annual; approx. $8,200 per household member 11+ years old residing in Saudi Arabia and $6,000 per household member under 11 years old
• Vacation & Paid Holidays – 38 vacation days / 4 travel days / 11-13 paid holidays
• Medical / Dental Plan – complimentary in-Kingdom Johns Hopkins medical care / facilities for employees and eligible family members. In-Kingdom dental services subsidized
• Educational Assistance Plan (EAP) – Out of Kingdom Assistance : 90% of expenses with a maximum per child, lesser of 5x monthly base salary or the company max ($48.5K), plus 3 round-trip economy air travel tickets; undergraduate college-age children get 2 round-trip economy air travel tickets; In Kingdom Assistance : 2x monthly base salary or the company max ($16.3K)
• Settling in Allowance – one-time payment; Family Status - 100% of monthly base salary; Single / Bachelor Status – 60% of monthly base salary