OVERALL JOB PURPOSE:
Provide comprehensive insurance services to safeguard Ma’aden’s local and international assets, revenue, and employees and to ensure that Ma'aden 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 Ma’aden 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'aden's 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:
- Bachelor’s 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.
