Risk Management Specialist

2 days ago

Karachi, Sindh, Pakistan beBeeInsurance Full time 25,000,000 - 35,000,000

As a seasoned insurance professional, you will play a pivotal role in ensuring the company's assets and employees are adequately covered against various risks. Your expertise in policy administration, underwriting, claims management, and recoveries will be instrumental in maintaining our risk posture.

About the Role
  • We are seeking an experienced professional to support the section head in arranging optimal insurance coverage for our assets and employees at minimal cost.
  • Your primary responsibility will be to assess periodically the insurance needs of the company concerning exposure to loss from various causes and probable loss amounts.
  • You will also be responsible for supporting management in inviting proposals from insurance companies, evaluating these proposals, and developing recommendations for insurance coverage.
  • In addition, you will coordinate with asset custodians to obtain up-to-date information about physical condition, additions, or deletions of assets, and inform insurance companies of material changes.

The ideal candidate will have a strong background in finance, insurance, or risk management, with excellent analytical and problem-solving skills.

A minimum of 4 years of experience in a similar role is required, preferably with professional qualifications such as Dip CII, ARM, or CPCU.

Responsibilities:
  • Assess periodically the insurance needs of the company concerning exposure to loss from various causes and probable loss amounts.
  • Support management in inviting proposals from insurance companies for covering the company against losses.
  • Evaluate proposals received from insurance companies, identify aspects to be deleted or riders to be attached, and obtain revised proposals for useful comparison.
  • Develop recommendations for insurance coverage for various assets and employees and secure approval from relevant authorities.
  • Coordinate with asset custodians to obtain up-to-date information about the physical condition, additions, or deletions of assets, and inform insurance companies of material changes.
  • Suggest appropriate insurance coverage for imported goods and coordinate with the Procurement Department to secure such coverage.
  • Review tender evaluation reports and recommend awards ensuring compliance with Public Procurement Rules and SOPs.
  • Liaise with excise and shipping for filing claims related to losses on imported consignments.
  • Coordinate with user departments regarding vehicle details and inform insurance companies of any changes.
  • Advise HR on employee insurance details and changes.
  • Maintain records of insurance policies, assets, risks, and policy maturity dates.
  • Communicate with departments to obtain loss details and ensure prompt claims processing.
  • Follow up on insurance claims until settlement and ensure collections are banked promptly.
  • Coordinate with auditors and provide required documentation for insurance-related accounts and transactions.
  • Ensure compliance with the Enterprise Risk Management Framework and the company's Business Principles and Ethics Policy.
  • Undertake any other tasks assigned by management.

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