Spencer announces new leadership

Board names new chairwoman and elects new officers, board members

C. Zakia Phillips

The Spencer Educational Foundation announced that its board has elected new officers as well as new board members. C. Zakia Phillips, formerly of Willis Towers Watson, was elected Chairwoman for 2018-19 and five new board members were named: Dr. Cassandra Cole (Florida State University), Andrea Dudek (Accenture), Stephen Grabek (AIG), Dr. Weili Lu (California State University – Fullerton), and Debbie Michel (Liberty Mutual).

New Spencer Board members: Front row (l to r): Dr. Cassandra Cole (Florida State University) and Dr. Weili Lu (California State University – Fullerton). Back row (l to r):  Andrea Dudek (Accenture), Stephen Grabek (AIG), and Debbie Michel (Liberty Mutual).

Serving with Phillips on the Foundation’s Executive Committee will be Marya J. Propis (formerly of AIG) -- president, Robin Joines (Sedgwick) – vice president, Matthew Schneider (Aon) – secretary, and Peter Heard (Travelers) – treasurer.

“I look forward to working with the board as we continue,” said Phillips. “I would be remiss if I did not thank and acknowledge the great contributions made by our outgoing chair Ron Davis and acknowledge the hard work and dedication of departing board members Peggy Accordino, Roger Andrews and Debbie Rodgers.”

Phillips worked at Willis Towers Watson for ten years, most recently as the East Region Director for Corporate Risk and Broking, Large Accounts. She provided her colleagues and their clients with thought leadership, strategy, coordinated relationship management and other assistance for those large, complex corporate accounts. Her broking experience also includes work at Aon. Prior to being a broker, she was an Executive Director in the Risk and Insurance Management Department of Morgan Stanley, where she worked for 23 years. Phillips graduated with honors from the State University of New York, she is a licensed New York insurance Broker and has her ARM certification. She has been actively involved in RIMS where she served on the board of the New York Chapter for a number of years and is a Past President. She has served on the Foundation’s board since 2013.

Spencer alumna provides named scholarship

Spencer alumna Elizabeth Lisle. She received scholarships in 1995, 1996 and 1997 and is now the principal of Silvient, Inc.

New scholarship looks to the convergence of insurance and technology

The Spencer Educational Foundation announced that one of its alumna, Elizabeth Lisle, has made a donation to create a named scholarship. The new scholarship will be given in Mrs. Lisle's name to a student who is studying risk management and insurance as well as technology. This is the first scholarship funded by a past recipient.

"This scholarship will recognize those students who see how insurance and technology/MIS are converging," said Mrs. Lisle, a three-time Spencer scholarship recipient.  "It is a joy to be able to return a small measure of all that Spencer has done for me since my very first interview in 1995.  The encouragement and support of Spencer and RIMS leadership over the last two decades have been an incredible gift."

"We are delighted that Elizabeth is funding this scholarship and paying it forward," said Ron Davis, Chairman of the Spencer Educational Foundation and EVP, Head of Customer Management for Zurich. "Technology is playing an increasingly important role in the industry and this scholarship will recognize up-and-coming talent that will help drive future innovation."

Mrs. Lisle received Spencer's scholarships in 1995, 1996 and 1997 while studying at Georgia State University. She is the Principal of Silvient, Inc., a risk technology consulting company. She is a member of the Foundation's Alumni Committee and has previously served on the Scholarship Committee.

The first Elizabeth Meldrum Lisle Spencer Scholarship will be awarded in 2019. Students receiving this scholarship will need to meet the academic criteria set by the Foundation's Scholarship Committee. In addition, they need to be pursuing a major, minor, or certificate in MIS, technology, computer science or similar discipline.

Foundation grants 70 full-time scholarships; Exceeds 1,000 cumulative scholarships awarded

The Spencer Educational Foundation named 70 full-time undergraduate, graduate and Pre-dissertation Ph.D. students as its 2018 Spencer Scholars. The students, selected and screened from a record pool of more than 730 applicants, represent 28 schools. These awards bring the number of scholarships awarded by the Foundation to 1,051. The Foundation awarded 62 undergraduate scholarships ($5,000 each), five master’s scholarships ($10,000 each) and three pre-Ph.D. dissertation scholarships ($10,000 each). A total of $390,000 was given out.

See the full list of 2018 Undergraduate and Graduate scholarship recipients.

“These scholarship recipients represent the future of our industry and, based on their collective credentials, our industry will be in very good hands,” said Tim Meacham, Spencer’s Scholarship Committee Chairman COO of Lockton Benefits Companies. “Since our inception, we have awarded more than one thousand scholarships. These students have been and continue to be among the best and brightest students entering the workplace and we thank our donors for their generosity which allows us to continue our mission by providing them with these scholarships.”

The Foundation’s scholarships are merit-based and take into consideration academics, leadership, industry interest and experience. Each application was reviewed by every committee member.

Named scholarships

In addition to 33 general undergraduate scholarships, the Foundation awarded 29 named undergraduate scholarships. All those scholarships are for $5,000. The named scholarships have been sponsored by: Allied World, Arthur J. Gallagher & Co., Chubb, FM Global, Liberty Mutual, Lockton Companies, RIMS Atlanta Chapter, RIMS Chicago Chapter, RIMS Dallas/Ft. Worth Chapter, RIMS New Jersey Chapter, RIMS New York Chapter, RIMS, Sedgwick, St. John’s University, XL Catlin, and Zurich.

While announced last year, this is the first year that the Steven Penman Memorial Scholarship sponsored by Sedgwick is being awarded. It was given to Varun Sivakumar, a junior at Temple University double majoring in Risk Management and Insurance and Finance.

The Foundation also awards risk managers pursuing part-time master’s degrees up to $10,000 scholarships. The deadline for these scholarship applications is May 1. Learn more about the Part-time Master’s Scholarship

Foundation awards 40 internship grants

Karrie Honnaka at Alexander & Baldwin’s recently renovated Kalaheo hydro facility on Kauai, HI as part of her risk management summer internship in 2017.

The Spencer Educational Foundation announced that 40 companies will have the opportunity to hire a summer risk management intern because of $5,000 grants they each will receive from the Foundation. The Foundation acknowledges the RIMS Northeast Florida Chapter and the Risk and Insurance Management Society for their continued sponsorship of this program. The full list of grant recipients can be seen here.

“Spencer has a proven record of providing experiential learning opportunities to students. Our internship program is a prime example,” said Roger Andrews, Chairman of Spencer’s Internship Grant Committee. “As the industry celebrates Insurance Careers Month, we are excited to announce these 40 internship grants that will provide students hands-on experience in a corporate risk management department. Since 1997, the Foundation has awarded more than $1.7 million in internship grants — including $200,000 this year — to expose students to a dynamic industry with vast career potential. We appreciate the industry’s support of this program and thank our generous sponsors.”

Fore!

Arthur J. Gallagher & Co. will host the the 27th Annual Spencer/Gallagher Golf Tournament on April 15, 2018 at the Hill Country Golf Club in San Antonio, TX. The event benefits the Spencer Educational Foundation.

This event is one of the largest fundraising events each year to benefit the Spencer Educational Foundation.

For more information about playing in or sponsoring the event, please visit: https://www.ajg.com/s/spencer-gallagher-golf-tournament/2018-spencergallagher-home/

Open

Spencer Educational Foundation has opened the application process for its 2018 scholarships and grants. These include:

• Full-time undergraduate scholarships — Selected individuals are awarded a $5,000 scholarship. The application deadline is January, 31,2018. Click here for criteria.
• Full-time graduate & pre-dissertation Ph.D. scholarships — Selected individuals are awarded a $10,000 scholarship. The application deadline is January, 31,2018. Click here for criteria.
• Summer internship grants — Awarded to risk managers’ companies to hire a student in the risk management department (Grant amount is $5,000). The application deadline is January 9, 2018. Click here for criteria
• Risk Manager in Residence grants — These are $4,000 grants awarded to colleges/universities to bring risk managers to their campus to speak with students. The application deadline is April 1, 2018.
  • Risk Managers: Your participation is needed. We need individuals who are willing to go to schools and share their (and their company’s) story. For more information, please click here

The application portal for all programs can be accessed here.

2017 Gala Dinner Highlights

Click here to see photos from the event

Our Mission

Paying it Forward: Industry Leaders Celebrate at Spencer Gala

This article originally appeared in Risk Management Monitor and is reprinted with permission.

Every year in September, leaders in the insurance world celebrate the profession and show their support for the next generation of risk management and insurance professionals. This year, close to 700 executives made their way to the Spencer Educational Foundation’s 9th Annual Gala on Thursday night at the New York Hilton Midtown. Nearly $1 million in donations were accepted at the event, a critical fundraising initiative for the Foundation. Proceeds will directly fund grant, scholarship and internship programs for undergraduate and graduate students who are pursuing careers in the field.

“The Gala is a wonderful reminder of just how generous and passionate professionals in this industry are,” said Ron Davis, executive vice president at Zurich and Spencer Educational Foundation chairman. “Tonight we’re celebrating the profession that has afforded us so much by giving back and creating meaningful opportunities for future risk professionals.”

The Gala honored 2017 Spencer Scholars Jayde Lim Ah Tock, a junior from Temple University, and James Pappas, a senior at St. John’s University. “Being a Spencer Scholar has allowed me to focus on my university’s program,” Tock said. “I want to thank the donors for allowing me to pursue something that is so important to me.”

When speaking about the support Spencer provided, Pappas said he is now “confident, optimistic and energized” about his future and knows he is “joining an amazing industry that truly makes a difference.”

Among the industry leaders in attendance were honorees Joseph Tocco, chief executive, north America insurance at XL Catlin, and Michael Rice, chief executive officer at JLT Specialty USA. Both are longtime Spencer supporters and were recognized for their efforts to move the Foundation’s mission forward.

The night’s festivities concluded with remarks from the honorees whose comments focused on the industry’s talent gap and the aging risk management workforce.

“The world needs our industry and our industry needs to attract and develop new talent,” Rice said. “Spencer is a wonderful conduit that allows us to celebrate this talent and the future of the profession.”

Tocco added, “I’m proud to be in an industry that places so much energy on education. Enlisting the next generation of risk professionals is more imperative now than ever before. We need to make “risk management” students’ first choice and not a profession by accident.”

Students around the world have benefited from Spencer funding. Since its inception, the charitable nonprofit has awarded 970 scholarships totaling about $6.4 million, and $3.25 million in grants to universities and professional institutions for educational programs and conferences.

Spencer Scholar Profile: Ryan Mroz – Applying experience to education

Studying risk management and finance at Temple University’s Fox School of Business, Ryan Mroz is a passionate student aiming to become an industry leader to help more students. Before studying risk management, Ryan worked in the casino industry, where he gained plenty of experience and insights about risks in our daily life. Here is our Q&A with him:

What are you doing this summer?
I am interning with the NAPSLO partnering company, Sompo International in Alpharetta, Georgia, and Bass Underwriters in Plantation, Florida. It is a unique program for students interested in the E&S sector of the industry to experience both the carrier side as well as the broker side of the business.

What is your favorite activity (extracurricular/volunteer/work) to do outside of class, and why?
My favorite activity outside of class is our student mentorship program though the Sigma Chapter of Gamma Iota Sigma. It partners up an undergraduate student with an upper-class mentor so that aspiring risk management students can be helped both academically and professionally throughout their studies at Temple. It has been gratifying to see my mentee, Angel, grow tremendously both academically and professionally this year with my help.

In your opinion, why is risk management important to society?
Adrian J. Slowotzky said in his book, The Upside, that “Unmanaged risk is the greatest source of waste in your business and in our economy as a whole. The consequences of not being prepared for risk can have a damaging effect on our economy, our companies, our employees and the communities in which we operate.” Risk Management allows organizations to uncover their risks, prioritize and allocate resources to those risks that underpin the continued viability of the organization, and finally, build organizational preparedness, resiliency, and sustainability.

What do you wish to accomplish in your career path?
In the short term, I want to complete my CPCU designation and RPLU designation, which will prepare me to take on expanded roles and responsibilities in the future. In the longer term, I would like to become an expert in my area and become a mentor to help others grow in the industry.

What does it mean to be a Spencer Scholar?
Being a Spencer Scholar has allowed me to spend time on further developing myself personally, academically and professionally instead of working to pay off my tuition. More importantly, being a Spencer Scholar gives me the invaluable networking and professional development opportunities. It is very heartening to know that the industry professionals have a vested interest in my success, and I want them to know that I am doing everything I can to be an asset to the risk management and insurance industry and a good representative of the investment they have made in me.

Share something unique about yourself (fun fact/talent/skill/accomplishment).
I played competitive ice hockey at a high level until I was 19, and was teammates with two then-future NHL players on my high school hockey team.

Jacob Akstins: Baseball enthusiast, social action advocate, Spencer Scholar

A math and science enthusiast, Jacob Akstins studies actuarial science at the University of Illinois – Urbana Champaign. He loves baseball for its implications of math and analytics and enjoys extracurricular activities including serving as the President of his Actuarial Club. Here is our Q&A with him:

1. What are you doing this summer?

This summer, I am interning at CNA Financial in Chicago as an Actuarial Intern on the Specialty Pricing team.  In particular, I am developing a Quick Quote Tool for Management Liability coverages and analyzing our team’s Life Agents portfolio.

1. What is your favorite activity (extracurricular/volunteer/work) to do outside of class, and why?

Social justice-related work and baseball are my favorite activities.

At the University of Illinois at Urbana-Champaign, I have the privilege of serving as a Multicultural Advocate. This live-in position gives me a unique opportunity to serve a diverse group of students as a facilitator and consultant regarding social identity. Mainly, I really enjoy working with students with disabilities and students who identity as LGBTQ.

As far as baseball goes, I have always been a super-fan whether as a player, umpire, or spectator (go White Sox!). This sport is, first of all, so fun to me. Additionally, it has really evolved since I’ve grown up; the implications that analytics and math play in this sport (through analysis and player shifts to cover probable ranges of hit balls, etc.) are endless.

1. Name a few goals you wish to achieve in the near future.

I’m hoping to sit for (and hopefully pass) a fourth actuarial exam in early 2018.  Additionally, I am looking forward to successfully completing my second internship with CNA this summer!

1. In your opinion, why is risk management important to the society? Where do you see the industry trending in the next 5 years?

I believe that risk management is essential to our existence.  The world is full of risk.  Tools like insurance exist as a way for people to pool together their resources and protect one another through a guide (insurer).  I believe that with increased reliance and innovation with technology (cloud computing, increased data usage, self-driving cars), our risks are becoming much more complex and unpredictable. Thus, advanced modeling, analytics, and other analysis is going to be a key-driver of risk management’s future.

1. Share something unique about yourself (fun fact/talent/skill/accomplishment).

I was a musician throughout high school, playing marimba!

1. How do you wish to succeed in both risk management and promoting social justice?

I believe that it is important to be knowledgeable about social identity and its impact on our world today. In particular, there have been many movements including those for disability rights, #BlackLivesMatter, gender-inclusive bathrooms, and more, and it is interesting to see how these progressions towards (or, sometimes, against) social equity affect everything around us.

Oleksandra Arkhangelska: Spencer Scholar & multi-cultural mastermind

Currently studying enterprise risk management at St. John’s University, Oleksandra Arkhangelska has pursued her education and career in diverse places, including Ukraine, Germany and the United States. Now living in New York City, she brings in her multi-cultural perspectives into classes, work and life. Here is our Q&A with her:

1. What inspired you to study risk management?

I chose to pursue a Master of Science degree in Enterprise Risk Management (ERM) because I find managing and controlling risks interesting and challenging. Risk management has gained significant importance worldwide in recent years. It enhances all decision making processes, from strategic decisions to traditional risk mitigation decisions. ERM takes a holistic approach and provides a robust toolkit of advanced risk management capabilities and competencies that can be applied to enhance value at the enterprise level.

1. How has your multi-cultural experience shaped you?

I believe my multi-cultural experience can bring a different perspective into the classroom and enrich our discussions. Growing up in Ukraine and moving to Germany was a cultural shock for me. It showed how different businesses could be managed and challenged me to think outside of the box knowing that there are multiple approaches and solutions to one problem. It also pushes me to work hard, dream big and be confident. This is what brought me to New York.

1. Apart from family, who/what is your biggest inspiration/motivation, and why?

My grandmother, who was an economics professor at Odessa National Maritime Academy, is my biggest motivation and inspiration to pursue a career in business. Apart from my grandmother, Dr. Browne, the chair of the faculty at my current graduate school has been my biggest inspiration and motivation. He is a professional who is truly passionate about what he does. It is a great honor to be assisting him this summer with preparing publication and research papers.

1. Name a few goals you wish to achieve in the near future.

One of my future goals is to succeed in my career, become an example for others especially females and support better access to high-quality education for everyone, everywhere.

I aim to work in the field of enterprise risk management and regulatory compliance. Being a highly motivated self-starter, I enjoy working in groups and believe that a collaborative and motivated team can achieve greater results. I believe the people I work with will be a great part of my own success. My ultimate goal is to be a part of an excellent ERM team.

1. In your opinion, why is risk management important to the society? Where do you see the industry trending in the next 5 years?

Risk management is intended to drive growth and act as an enabler of business strategy. As a risk professional it is my priority to ensure its correct implementation to create greater confidence and value in the organization. I believe the industry will be trending in IT, financial, health care, oil and gas, and defense sectors in the next five years.

1. What does it mean to be a Spencer Scholar?

Becoming a Spencer Scholar is a proof that I am moving into the right direction. I feel very honored and proud. I am very thankful for the Spencer Foundation’s generosity in supporting the education of tomorrow’s risk management professionals. Receiving this scholarship will allow me to continue to work hard towards achieving my professional goals.

1. Share something unique about yourself (fun fact/talent/skill/accomplishment).

I am obsessed with high quality food. My friends call me a picky eater and even suggested me to pursue a degree in The Culinary Institute of America. I appreciate a balance between a healthy, nutritious and at the same time tasty meal. I also like to cook for and with my friends and family.