Controller, Finance (Insurance)

ADNOC; Abu Dhabi; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading company in the UAE is seeking an Insurance Specialist to manage insurance functions, including risk coverage and claims management. The successful candidate will lead negotiations, oversee claims processes, and conduct risk assessments while fostering a strong insurance culture across departments. This role requires a Bachelor's degree and a minimum of 10 years of relevant experience, emphasizing strong communication and financial management skills.

Qualifications

• Minimum 10 years of experience in insurance and risk management.
• Proven experience in negotiating and managing insurance policies.
• Strong skills in risk assessment, mitigation, financial management, and communication.

Responsibilities

• Manage overall insurance risk coverage and claims management.
• Lead negotiations for cost-effective insurance policies.
• Conduct risk evaluations and promote a culture of risk management.

Skills

Negotiation

Claims Management

Risk Assessment

Financial Management

Communication

Education

Bachelor's degree in Business Administration, Finance, or a related field

Job description

About the Job

We are seeking an Insurance Specialist with experience in handling insurance functions within large corporations or insurance companies. The successful candidate will manage overall insurance risk coverage, claims management, risk surveys, and resolution. Demonstrated leadership qualities and excellent communication skills are essential.

Key Responsibilities

1. Insurance Policy Management and Negotiation

• Analyze policy coverage, indemnity and insurance clauses, policy wording, claims status, and risk management procedures. Recommend strategic changes to enhance ADNOC Distribution's insurance framework.
• Lead negotiations and placement of cost-effective insurance policies ensuring comprehensive coverage aligned with our risk profile.
• Review and negotiate insurance contracts and endorsements for compliance with company policies and standards.

Claims Handling and Resolution

• Oversee claims adjustments, implement robust claims procedures, and coordinate with external stakeholders to expedite resolutions.
• Manage the claims process, liaising with insurers, brokers, adjusters, and legal advisors to ensure timely settlements.

Risk Assessment and Management

• Conduct risk evaluations and promote a culture of risk management, ensuring compliance with company policies.
• Perform risk assessments with Risk Owners and advise on appropriate insurance coverage.
• Monitor market trends and regulatory changes affecting insurance strategy and operations.

Budgeting and Financial Management

• Manage the insurance budget, report on expenditures, and optimize resources.
• Prepare reports on claims and premiums, identifying areas for improvement.

Training and Culture Building

• Develop and deliver training programs to foster a strong insurance culture within the team and across departments.

Advisory and Strategic Planning

• Provide expert advice on M&A activities from an insurance perspective and manage insurance programs for subsidiaries.
• Guide business units on insurance matters and risk mitigation strategies.

Stakeholder Relationship Management

• Build and maintain effective relationships with internal and external stakeholders to ensure alignment and coordination of insurance activities.

Minimum Qualifications

• Bachelor's degree in Business Administration, Finance, or a related field.
• Minimum of 10 years of experience in insurance and risk management.
• Proven experience in negotiating and managing insurance policies.
• Experience in claims management and resolution.
• Strong skills in risk assessment, mitigation, financial management, and communication.
• Knowledge of insurance market trends, regulatory environment, and M&A insurance considerations.

Location: Finance Controller, Abu Dhabi, United Arab Emirates