Risk Management Specialist

Deputy Chief Manager Insurance

About the Role:

We are seeking a highly skilled and experienced Deputy Chief Manager Insurance to join our team. This is a critical role that requires a deep understanding of insurance principles, risk management, and financial analysis.

The successful candidate will be responsible for managing overall operations of the Insurance function, including acquisition of adequate insurance coverage for all assets, renewal of insurance policies, and claims handling.

Key Responsibilities:

1. Managing overall operations of the Insurance function, including but not limited to acquisition of adequate insurance coverage of all assets.
2. Provides support and guidance to personnel at the Insurance Section regarding renewal of insurance policies and claims handling.
3. Works in close coordination with all relevant departments, including Finance, Services, Transmission, Telecom, Distribution, Admin, and Procurement Departments, to develop insurance policies & plans and ensures effective strategy and action plans are in place to adequately cover risks and fair recovery of all claims.
4. Continually reviewing insurance policies to confirm that our needs are best addressed and the coverage obtained is adequate.
5. Recommends and seeks approval from senior management on any additional conditions of cover or policy terms to be introduced.
6. Oversees the entire insurance claims process and liaises with surveyors / loss adjusters regarding processing of claims arising out of different policies.
7. Managing and responding to queries pertaining to claims investigations raised by the insurance companies and surveyors.
8. Reviewing insurance claims data before sending them to responsible parties.
9. Organizing accounting and audit of retirement funds. Reviewing financial statements for provident fund, benevolent fund, pension fund, and other related investments.
10. Liaising closely with procurement and legal departments on the appointment of consultants regarding potential project proposals of insurance policy review/recommendation so that the management takes an informed decision on the proposal.
11. Participating in gas purchase-related negotiations process through either local or imported sources and reviewing any related financial aspects.
12. Reviewing bid bonds, performance bonds, and performance guarantees from vendors and arranging respective refunds at the end of the contract upon assessment of vendors' satisfactory performance.
13. Facilitating user departments in finalizing tender floatation process for procurement in accordance with the PPRA rules as well as ensuring rational pricing structure.
14. Ensuring compliance with withholding tax statutory requirements applicable to vendor payments.
15. Advising management on RLNG imports through review of financial aspects during contract negotiations.
16. Reviewing financial aspects during SSGC management and union negotiations on charter of demands.
17. Implementing the process of preparation and verification of bank voucher payments for expenses, bills, medical reimbursements, motor vehicle repair and maintenance, general repairs, stationary, direct materials, and other miscellaneous activities.
18. Maintaining effective coordination with relevant departments as well as gas exploration and production (E&P) companies in matters pertaining to gas purchases. Preparing and circulating gas purchases volume reports on a quarterly basis.
19. Assessing inquiries received from the insurance companies, surveyors, loss adjusters, third-party experts/consultants, internal and external auditors, and other authorities to ensure all requisite information is available and listing requirements for any additional information.
20. Organizing and implementing an effective coordination and liaison process with user departments internally and various parties externally if any catastrophic event/atmospheric disturbance such as floods/earthquakes take place.
21. Identifying and assessing risks under their management/ownership.
22. Developing and implementing risk response strategies for the risks under their management.
23. Monitoring risks and response strategies under their management.
24. Ensuring the accuracy and timeliness of information provided for risk reporting.
25. Undertaking any other assignment as instructed by immediate supervisor.