Job Description
The Risk Management Analyst in Petrochemicals is responsible for identifying, assessing, and mitigating risks related to the petrochemical industry’s operations. This role ensures that potential risks, whether operational, financial, safety-related, or environmental, are proactively addressed to minimize potential losses and ensure compliance with industry regulations and standards. The Risk Management Analyst will collaborate with various departments, conduct detailed risk assessments, and recommend strategies for risk reduction.
Key Responsibilities:
- Risk Identification & Assessment:
- Analyze and identify potential risks across petrochemical operations, including process safety, financial, operational, environmental, and regulatory risks.
- Conduct detailed risk assessments, modeling, and simulations to evaluate risk exposure.
- Monitor industry trends and emerging risks to keep the organization informed of potential future challenges.
- Risk Mitigation & Control:
- Develop and implement risk mitigation strategies and controls to reduce identified risks.
- Work closely with engineering, operations, and safety teams to ensure that risk management practices are integrated into operational processes.
- Evaluate and recommend technology solutions to enhance risk detection and control measures.
- Compliance & Regulatory Standards:
- Ensure compliance with industry regulations, safety standards, and environmental laws.
- Work with internal and external auditors to ensure proper documentation and reporting of risk management activities.
- Track regulatory changes that may affect petrochemical operations and advise management on necessary adjustments.
- Reporting & Documentation:
- Prepare risk assessment reports, including detailed analysis of potential risk scenarios and their impact on business operations.
- Present risk findings to senior management and suggest actionable steps.
- Maintain accurate records of risk management activities, including risk registers, reports, and audit trails.
- Training & Awareness:
- Provide training and guidance to employees and departments on risk management policies, procedures, and best practices.
- Raise awareness of risk management strategies within the organization to foster a proactive approach to risk handling.
- Crisis Management:
- Assist in the development and testing of crisis management and business continuity plans.
- Respond to emergency situations, providing real-time analysis and recommendations to mitigate damage and prevent operational disruptions.
- Continuous Improvement:
- Continuously evaluate the effectiveness of existing risk management strategies and recommend improvements.
- Conduct post-event analyses to evaluate the effectiveness of risk response measures and identify areas for improvement.
Skills
Education: Bachelor's degree in Risk Management, Engineering, Chemistry, Business Administration, or related field. A Master’s degree is a plus.
Experience:
- 3-5 years of experience in risk management, preferably within the petrochemical, energy, or industrial sectors.
- Experience with risk analysis tools, methodologies, and software.
- Familiarity with petrochemical industry standards, regulations, and safety protocols.
Skills:
- Strong analytical and problem-solving skills.
- Excellent knowledge of risk management processes, techniques, and industry best practices.
- Strong communication skills, both written and verbal, with the ability to present complex risk information clearly to management.
- Knowledge of health, safety, and environmental (HSE) regulations.
- Proficiency in risk management software and MS Office tools.
