Financial/Actuarial Analyst

Job description / Role

Aramco energizes the world economy.

Aramco occupies a unique position in the global energy industry. We are the world's largest producer of hydrocarbons (oil and gas), with the lowest upstream carbon intensity of any major producer.

With our significant investment in technology and infrastructure, we strive to maximize the value of the energy we produce for the world along with a commitment to enhance Aramco's value to society.

Headquartered in the Kingdom of Saudi Arabia, and with offices around the world, we combine market discipline with a generations' spanning view of the future, born of our nine decades experience as responsible stewards of the Kingdom's vast hydrocarbon resources. This responsibility has driven us to deliver significant societal and economic benefits to not just the Kingdom, but also to a vast number of communities, economies, and countries that rely on the vital and reliable energy that we supply.

We are one of the most profitable companies in the world, as well as amongst the top five global companies by market capitalization.

Overview

We are seeking a Financial/Actuarial Analyst to join the Saudi Aramco Medical Services Management Department (MSMD). MSMD in its primary role as a governance organization, oversees the provision of cost-effective and quality healthcare to Saudi Aramco's eligible patient population by different providers, including a joint venture (JV) with Johns Hopkins Medicine International and a third-party administrator (TPA) agreement with BUPA Arabia, while also governing the operational performance of providers using key performance indicators (KPIs) and maintaining compliance with KSA government regulations and directives.

Key Responsibilities

You will be required to perform the following:

Undertake special studies and data analysis to support and facilitate management decision-making, such as the healthcare funding model under the scenario of both single and multiple payers and the impact of activity-based budgeting related to medical services in accordance with global healthcare standards and performance benchmarking. Assist in the financial modeling, investment/divestiture analysis, asset valuations, financial due diligence, and entity setup activities as applicable. Assists in the preparation of a risk adjustment analysis. Assists in developing medical benefit programs, analyzing claims experience, and preparing data related to unpaid claims liabilities for financial statements. Devising strategies for revenue growth and cost reduction in collaboration with key stakeholders, both internal and external Provide financial accounting and analytical support to the MSMD Accounting Section Head as assigned. Participates in the development, recommendation, and implementation of changes to accounting policies, internal procedures, controls, and systems.

Requirements

Minimum Requirements

As a successful candidate, you must hold a Bachelor's degree in one of the following: Accounting, Finance, Business Administration, or a related discipline. Master's Degree in a related field is preferred. Preferred professional qualifications include Certified Public Accountant (CPA), Saudi Organization of Certified Public Accountant (SOCPA), Certified Management Accountant (CMA), Certified Financial Analyst (CFA), and Certified Internal Auditor (CIA). In addition, it's preferred to be certified by any recognized institute of actuaries. You will have at least ten (10) years' diversified accounting and finance experience, preferably in the health care sector or related industries, with a strong track record of delivering proven results.

The candidate must have a sound knowledge of applicable International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), and KSA tax legislation. The candidate should be able to work both independently and in collaboration with the full Medical Services Management Department team, which is comprised of diverse subject matter experts with deep knowledge across medical, planning, and financial fields. The candidate should also be a strong leader and have the ability to delegate and manage small teams. The candidate should have the capacity to analyze big data and carry out actuarial analysis for a population of 400k+ with the ability to interpret trends and relationships. Knowledge of medical coding, especially with Australian ICD coding standards, is preferred. Excellent ability to communicate in professional spoken English with peers as well as members of management, and be able to produce clear and concise oral and written reports in English. Knowledge of Arabic is an advantage. Strong proficiency in Microsoft Excel is essential, with experience in financial modeling techniques and data analysis preferred.

Working environment

Our high-performing employees are drawn by the challenging and rewarding professional, technical and industrial opportunities we offer, and are remunerated accordingly.

At Aramco, our people work on truly world-scale projects, supported by investment in capital and technology that is second to none. And because, as a global energy company, we are faced with addressing some of the world's biggest technical, logistical and environmental challenges, we invest heavily in talent development.

We have a proud history of educating and training our workforce over many decades. Employees at all levels are encouraged to improve their sector-specific knowledge and competencies through our workforce development programs - one of the largest in the world.

About the Company

Saudi Aramco is an integrated global energy enterprise. The company markets and exports crude oil, petroleum products, natural gas liquids and sulfur. It also ships crude oil worldwide through an affiliated company and participates in petroleum refining and marketing activities at home and abroad. Its overseas affiliates are in the United States, Egypt, the Philippines, the Republic of Korea and Japan.

Saudi Aramco's subsidiaries span the globe, with offices in Houston, Washington, New York, London, Leiden, Dubai, Singapore, Beijing, Hong Kong, Tokyo and Seoul.