1. Duties and Responsibilities
Insurance & Risk Management:
- Quantify the risk given a number of varied loss scenarios.
- Enable both the identification and quantification of potential physical risks and risk
exposures present in Ma’aden’ s business looking at a range of scenarios (Small, medium
and EML)
- Enable Ma’aden to assess the tipping point at which its insurable exposure becomes
significant during initial ramp up.
- Provide Management with an informed decision basis for the appropriate transferal of risk
in the desired insurance program.
- Ensure that Ma’aden’s insurance program adequately addresses it unique needs and that
risks is transferred to underwriters where intended.
- Eliminate the potentials for under insurance in the event that Ma’aden ever has a significant
insurance claim.
- Eliminate the potential of over insurance.
- Provide additional leverage through improved knowledge to negotiate better renewal terms
in terms of price and extent of cover – information usually increases the confidence of
underwriters.
- Create a model, and transfer knowledge, which can be used by Ma’aden to accurately
calculate the appropriate insurance declared values in future years as variables change
- In the event of claim occurring, provide a benchmark for the claim methodology that will
ensure Ma’aden receive full indemnity expedient settlement.
- Necessary study on the risks identified at any projects such as Aluminium Smelter, Rolling
Mill, Mine & Refinery and Auto sheet
- Arrange Risk Management study by experts, if required.
- Obtaining various competitive terms for the identified risks or new assets or expansion
through the appointed Insurance Consultant of the company.
- Arranging for processing relevant insurance invoices due for payment.
- Identify the uninsured perils and the required study on warranties and conditions imposed
in the policy
- Review the compliance of Insurance conditions and warranties on monthly basis.
- Timely reviewing renewable policies for renewal submission.
- Managing claims portfolio by coordinating with the insurance companies, consultants, loss
adjusters and concerned units’ heads for settlement purpose.
- Maintaining proper documentation of policies and accounting records of all insurance
related matters.
- Initiating dialogue with the nominated focal point of contact at each project for facilitating
insurance work for the respective project / company.
- Generating periodic reports to Department Manager, Treasurer, VP-Finance and Corporate
Insurance management Team on insurance activities carried out by the Department.
- Claims Management
- Policy Management
- Risk Inspections / Surveys
Major Achievement
- Developed Insurance Department Manual
- Developed Insurance Claim reporting policy & procedures
- Training to all employees on ‘Insurance & Claim reporting awareness’

2. - Insurance Surveys
- Transition From Project to Operations handled
Major Claims Handled:
Handled USD 100 M Property Damage claim + USD 50 M Business Interruption claim
Handled the Insurance program for USD 10Bn worth Plant
Loan Management activities
- Loan agreements, CTA finalization
- Preparing the check list to comply with CTA conditions
- Calculation and payment of Commitment, Interest and other Loan management related Fee
- Prepare Loan management accruals and forecasts
- Communications with Lenders
- Submission of various requirements for Lenders
- Drawdown the loan at suitable time meeting the conditions
- Management of Repayment of Loan
Other Treasury activities
- Assist in the preparation of the Treasury Reports including yearend processing.
- Select, train, motivate, and evaluate assigned personnel; provide or coordinate staff
training; work with employees to correct deficiencies; implement discipline and termination
procedures.
- Participate in the development and administration of the division’s annual budget;
- Preparation and management of Cash Flows
- Management Loan related activities