OVERALL JOB PURPOSE:
Provide comprehensive insurance services to safeguard Maadens local and international assets, revenue, and employees and to ensure that Ma&aposaden Directors and Officers are adequately covered in order for them to perform their duties.
KEY ACCOUNTABILITIES:
General: Insurance Services:
- Manage contract of external service Providers (consultants & contractors)
- Contribute to Finance strategy
- Running a consolidated insurance program (CIP) to cover all Maaden assets
- Manage and allocate a premium of 100M USD annually
- Running the insurance program for overseas affiliates
- Contribute to the establishment of a safety culture and ensure strict adherence to statutory and Ma&aposaden&aposs safety requirements, regulations, rules, processes, and procedures
- Manage all resources (people, money, equipment, etc) responsibly, ensuring safety and continuous compliance with requirements (cost, quality, due dates, targets)
- Performance management of direct reports (facilitate frequent performance dialogue and take corrective action/give recognition) and ensuring proper downward performance management
- Communicate, facilitate, and execute change and improvement initiatives effectively
- Negotiate cost effective and comprehensive insurance policies (with local and international brokers and insurers)
- Ensure the identification and insurance of all insurable risks
- Manage and ensure effective handling of all claims
- Analyze premium figures in order to ensure fair and transparent transfer pricing.
- Review all Insurance policy terms and support the insurance brokers to negotiate acceptable terms
- Review and redefine the strategic and tactical roles of the captive and cell captive
- Assess major claims .
Change management:
- All Plans and team objectives consistently executed and achieved in a safe working environment.
- Productivity target achievement.
- Achievement of Saudization targets.
- Structure insurance and re-insurance programmed to optimize available funds and ensure adequate covers.
- Prepare and attend employee risk benefit and disability meetings.
- Draft insurance performance agreement and obtain approval.
- Provide advice to Affiliates and JVs.
QUALIFICATIONS, EXPERIENCE & SKILLS:
- Bachelors degree in Finance, Accounting, or Engineering.
- Relevant Insurance Qualification (e.g.CII) preferred.
- 7 years relevant experience including at least 4 years insurance field.
- Proven leadership and management skills (people skills).
- Ability to deal with unknown, combine unrelated data and information to create new insight.
- Leading expert knowledge of Insurance, trends, interpretation, and application of industry knowledge.
- Global mindset.
- Sound business acumen.
- Advanced understanding of business processes and business value chain.
- Strategic thinking and ability to translate strategy into tactical plans.
- Design thinking.
- Entrepreneurial and commercial thinking.
- Change agent and ability to lead transformation.
- Advanced knowledge and understanding of practical impact of all relevant regulatory and statutory requirements.
