Job Description

About the Company

Petroleum Development Oman is the leading exploration and production company in the Sultanate of Oman. The Company delivers the majority of the country's crude oil production and natural gas supply.

Purpose of the Job

To ensure that company’s policies regarding risk transfer in respect of its properties and third party liabilities are implemented through an effective and efficient insurance placement program. The job requires ensuring that shareholders’ investments are protected through the entire life cycle of a project from construction to retirement of assets. The job also requires continuous improvement/modification in risk management in a changing scenario to PDO’s Operation, Develop Risk Management strategy (Risk framework) for PDO’s business activities in relation to Insurance.

Education & Experience

Bachelors’ degree in a finance, commercial or other disciplines such as Accounting, Economics, Information Systems or related fields.

Membership of Chartered Insurance Institute (CII) or equivalent qualification is preferable.

Minimum experience of 7 years in management of insurance portfolio of a corporate organisation with special emphasis on energy insurance.

Familiar with Insurance policies terms and conditions in international standards

Main Responsibilities

• Identify, assess and mitigate insurable risks arising out of PDO’s activities and provide risk mitigation / solutions for protection of PDO’s assets.
• Plan and prepare the insurance strategy for upcoming projects which are in the pipeline to ensure that projects are timely covered by insurance.
• Ensure that shareholder investments are protected and insured by transferring the major perils risk to financially sound insurers.
• Prepare management strategy on insurance to effectively take best advantage of market conditions, underwriting capacities in the market, and upcoming risks of projects / assets.
• Provide solid advisory role to the finance leadership for the management of Risks.
• Negotiate & demonstrate understanding of PDO’s need to all outside stakeholders namely Local Insurance companies and National and International brokers.
• Manage and lead all Insurance activities including Presentation to Tender Board, placement of insurance cover in the market for all insurances.
• Coordinate gathering of underwriting information and explaining to the Insurers for their risks assessment.
• Liaise with all stakeholders to deliver the insurance at the right time.
• Establish/ improve procedures, policies & guidelines for claims lodgment and administration. Handle all Insurance claims & liaise with Loss adjuster, brokers and Re-insurers.
• Develop best practices in the energy insurance market and benchmark with others in the industry to ensure best in class insurance strategy and services for PDO.
• Monitor and ensure timely identification of risks and suggest suitable risk mitigation solutions to the management.
  
  

Skills Required

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