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Insurance Risk Assessment Engineer

  • Job type: Permanent
  • Job reference: : BBBH105347
  • Location: Malaysia, Kuala Lumpur
  • Sector: Chemical, Onshore, Oil and Gas
  • Salary: Negotiable
  • Date posted: 10/04/2017
This vacancy has now expired.

Insurance Risk Assessment Engineer

We are looking to hire an engineer to assess and compile the Maximum Possible Loss (MPL) data of assets in the upstream portfolio, and provide those values for the annual risk management review as part of the corporate insurance program.

Job Responsibilities:
  • Develop and maintain MPL data for upstream assets, validate the MPL values with project and production unit management, and provide annual input to risk management review
  • For assets in project development phase (pre-operations phase):
    • Gather information on capital projects and active assets portfolio including exploration drill wells
    • Determine credible possible loss scenarios for these assets in the various execution phases including construction, commissioning and facility start-up based on risk
    • Determine an MPL value for each asset and secure project management endorsement
  • For assets in the operations / production phase:
    • Confirm stage of asset life cycle to determine which valuation method to apply
    • Develop MPL values for individual assets based on asset life cycle stage and risk
  • Work closely with projects and production affiliates business leads to understand project schedules and asset modifications and update asset MPL as needed


Job requirements:
  • Bachelor's degree from a recognized university in process, chemical, or mechanical engineering with minimum GPA 7.0 and above
  • Minimum of 10 years' experience in the oil and gas industry
  • Minimum of three years' experience in process safety and risk management
  • Proficient in risk management concepts and familiar with engineering consequence modeling studies
  • Proficient with economic analysis concepts such as cash flow, net present value, and DCFR
  • Prior work experience in project development focused on concept selection for large capital projects with proficiency in development of project cost estimates
  • Prior work experience in an operating / producing asset with good understanding of production profiles such as early life, plateau and field depletion and understanding of asset life cycle from design to decommissioning
  • Able to gather, analyze and compare data via data analytics tools like MS Excel, MS PowerPoint and MS Access
  • Good presentation skills
  • Excellent verbal and written communication skills in English
For more information about this role please contact our Singapore office Spencer Ogden Energy Pte Ltd Agency License Number: 13C6321