Spencer Educational Foundation (spencer) has received a $650,000 gift from FM Global, one of the world’s largest commercial property insurers. It is the largest contribution the organization has received in its 41-year history.
Of the donation, $500,000 will be earmarked for unrestricted support of Spencer scholarships and grants to students studying risk management and insurance, facilitating internship and experiential learning opportunities and funding development of course curricula. The remainder of the gift will be added to an existing scholarship endowment with Spencer that funds annual FM Global-named scholarships for students pursuing risk management or insurance degrees.
“As a mutual company, we believe this investment in the next generation of risk managers and insurance leaders will provide long-term benefits for our policyholder-owners by providing them a talented pool of graduates who can help them develop even stronger risk management programs and ultimately be more resilient,” said Thomas A. Lawson, chairman and CEO of FM Global. “For nearly two centuries, education has played a significant role at FM Global in our efforts to help drive property risk out of organizations. This gift to Spencer Educational Foundation ensures that legacy continues.”
“The leadership and generosity that FM Global has continuously demonstrated to our industry and the Spencer Educational Foundation is incredible,” said Marya Propis, chair of Spencer and SVP of Distribution & Broker Partnerships at All Risks, Ltd. “Their commitment to resiliency in all areas is directly applicable to preserving and elevating academic excellence that tracks with our industry’s drive to elevate our talent in all areas. Our deepest gratitude to our special partners at FM Global; we are so proud to administer these funds in our names.”
Since 1979, Spencer Educational Foundation has awarded more than $7.3 million in scholarships and $4.1 million in grants to students pursuing degrees in and universities offering programs for risk management and insurance.
Spencer Funds Risk Management and Insurance Course at York University
The Spencer Educational Foundation awarded a $49,210 grant to York University to help develop and offer a Risk Management and Insurance course. This grant is offered by Spencer’s Risk Management Course Development Committee, which will benefit York University’s Risk and Insurance Studies Centre. Spencer continues to support York University’s efforts in funding the education of tomorrow's risk management and insurance leaders with the recent Spencer grant and the Risk Manager in Residence (RMIR) Program.
Risk Manager in Residence Program exposes students to interdisciplinary careers
From York University, Jan 30, 2020. By Julie Davidson.
Tsvetanka Karagyozova is clear on why a career in risk management is important – and her reasoning makes perfect sense. “Life is full of risks,” says the assistant professor in the Department of Economics. “And we need an interdisciplinary approach to be able to properly identify them.”
Karagyozova is keen on sharing this perspective with students. So much so, that in 2015 she initiated the Risk Manager in Residence (RMIR) Program at York University with the encouragement of Ron Davis, board member and past Chairman of the Board of Directors of the Spencer Educational Foundation and Executive Vice President at Zurich Commercial Insurance, and Angela Sabatino, Programs Director of the Spencer Educational Foundation.
Photo from: York University
Funded by the Spencer Educational Foundation (https://www.spencered.org/), the RMIR program (https://www.spencered.org/educators/risk-manager-in-residence) brings prominent risk managers to campus; they discuss careers in risk management and insurance with staff and faculty.
From the outset, the calibre of visiting professionals has been phenomenal. From 2015-2016, Karagyozova welcomed Susan Meltzer, Vice-President Risk at Aviva Canada, as RMIR. The following year, Ed Furman, associate professor in the Department of Mathematics & Statistics and founding director of the Risk and Insurance Studies Centre (RISC) spearheaded the program and welcomed Mari-Jo Hill, Director of Risk Management at SAS, as RMIR. From 2017-2018, Karagyozova and Furman joined efforts to host Chris Mandel, Senior Vice President, Strategic Solutions, for Sedgwick, Director of the Sedgwick Institute, and past president of the Risk and Insurance Management Society (RIMS).
This academic year, the program was hosted by Furman, Karagyozova, and Ida Ferrara, associate professor in the Department of Economics and deputy director of RISC. The program brought to campus Michael Lubben, Director of Henry Crown and Company, and Michele Centeno, Senior Vice President at Arthur J. Gallagher & Co.
“A factor behind the success of the program at York is the strong pool of diverse, knowledgeable, and experienced risk managers created by the Spencer, multiplied by long-term engagement of dedicated faculty members and an extraordinary interest from undergraduate and graduate students from distinct Faculties,” said Furman.
“The risk managers that we had the opportunity to host over the last four years proved to be not only consummate professionals but fantastic educators as well. Their ability to reach out and connect to our diverse body of students and faculty left a lasting impact on many in their audiences, both students and faculty,” added Karagyozova.
The pedagogy behind events like the RMIR program is rooted in the long-standing understanding that experience plays a central role in education. This pedagogical approach, which emphasizes the importance of experience in the learning process, is known as “experiential education” (EE) and it is one of the four instructional priorities at York.
“In the classroom, we expose students to theoretical and empirical techniques to quantify, measure, and price risk. But we are also committed to bridging theory with practice. The RMIR program provides students with opportunities to experience first- hand how the theories and core concepts learned in class help address problems business organizations face,” said Ferrara.
Connections built during the RMIRs’ visits at York transcend the RMIR program. York University students efficiently utilized the opportunity to start building their professional networks. “When I got home,” Meltzer wrote in a reflection piece for PULSE magazine, “I accepted many LinkedIn invitations – as [students] were eager to begin their networking opportunities.” These connections paved the way for subsequent participation of Aviva representatives in career-oriented events and professional networking opportunities organized by the Economics Students’ Association at York. They have also paved the way for DRIM, a diploma in risk and insurance management currently under development, to be offered through RISC.
Spencer’s grants are very generous, as any money remaining from the RMIR events are not to be refunded to the donor, but can be used for future events related to the field of risk management and insurance. Examples include career days, insurance events, or other student-related education. Remaining funds were used in 2016 to bring to campus Michael McCord, then-Chairman of the Board of the Microinsurance Network and President of the MicroInsurance Centre, to deliver a talk on the importance of microinsurance for economic development and to interact with students. McCord has since joined RISC’s Board of Advisors.
Business Insurance Features Spencer Executive Director in its 'View from the Top' Column
From Business Insurance Magazine, Dec 2, 2019. By Louise Eseola, Assistant Editor.
Credit: Business Insurance Magazine
Megan Miller, recently appointed executive director of the Spencer Educational Foundation Inc., oversees the objectives of the organization charged with bringing young college recruits into the world of risk and insurance. She began her own trek as a risk engineer with FM Global 17 years ago and continued in various underwriting, client management and sales roles at XL Insurance America Inc., Swiss Re Ltd. and Beecher Carlson Holdings Inc. Based in Philadelphia, Ms. Miller recently spoke with Business Insurance Assistant Editor Louise Esola about her role with Spencer, industry recruiting and what she’s learned thus far. Edited excerpts follow.
Q: We often hear from industry executives that recruitment is difficult, and we often hear many say, “I never knew I’d be in the insurance or risk management industry, but I ended up here and I loved it.” What is your take on recruiting talent, candidates who might end up elsewhere in business?
A: We don’t want insurance and risk management professionals to be in the industry by accident. And up until several years ago, that’s really been the case. They either have an aunt or an uncle (in insurance) or they study business, and they kind of get this random job posting and they sort of fall into it. And so what Spencer is aiming to do is to make that decision more purposeful, and in doing that to really make the study more intentional; to produce candidates that are better prepared coming right out of the gate from college or from a master’s program to really jump into the industry with an excellent background with as much of a network as they can have at that age after only having studied a few years. Our stated mission is to fund the education of tomorrow’s risk management and insurance leaders. So the underlying idea is we must get intentional about these careers, and let’s boost our talent pipeline so that we don’t just have to rely on people falling into it by accident.
Q: Are there any issues that you’d like to draw attention to in the industry in your new role?
A: One of the frightening statistics that I keep hearing is that we’re about to encounter a dearth of some 400,000 people in terms of the talent pipeline — that the anticipated gap in candidates is going to be about 400,000, between all of the baby boomers continuing to retire and all of these new technologies opening up. I feel that over the years, the industry has continued to attract better and better talent, and that’s the goal at Spencer: to just keep filling that pipeline with really top-notch people who might have otherwise gone into finance or banking, and really attract them into our industry.
Q: Diversity and inclusion is continuing to catch on. How does Spencer plan to tackle that issue?
A: We review our applications with an eye toward diversity. We just signed an agreement with the New York City Association of Insurance Women. We’ll be receiving a four-year donation from them, and their scholarships will be awarded to two women candidates. We’re looking forward to partnering with more organizations like this that are encouraging diversity. I think that by partnering with these other organizations that are really making strides in terms of producing diverse candidates for the industry, Spencer can really take advantage of the good work that they’re doing.
Q: What are some of the Spencer programs you are excited about?
A: The scholarships are straightforward: If you’re a student studying in some kind of risk management program at a university, you can apply for our scholarship. We have pretty stringent criteria, which is nice because then we end up with a talent pool of Spencer scholars that we are happy to advertise to the industry as someone who has already been prescreened. So you know if you’re interviewing a Spencer scholar, they have a certain academic performance and they’ve already been vetted by a known organization. I think that’s helpful. And we produce a resume book every year. In 2019, we had 93 scholarships that we gave out for about $600,000 in total. And then the internship program is another piece. It’s particularly designed for risk management departments. What we find is that the insurance companies and the brokers tend to have internship programs, and they have funding for that. (Meanwhile) the risk managers — and they’re typically small risk management departments within a much bigger company — they usually don’t have a budget to have an intern. So the risk manager can apply for a grant from Spencer to hire an intern for the summer. We give out amounts of $7,500 to a company.
Q: Looking back to the time when you first started out, what surprised you about the industry?
A: I had no idea about the multitude of career paths that you could tackle. I studied engineering and have an engineering degree. I started out as an engineer. I moved into underwriting, which is something I didn’t even know existed, and then I was in sales and client management and broker relationships. And now I’m running a nonprofit in the industry. I don’t think there are many people who kind of run the gamut of all of the different possibilities within an insurance career. So that to me was pretty surprising in a very good way.
Q: We hear frequently that you’re always going to learn something new on this career path. What has been your experience?
A: There are just so many different, cool things that you get to see. When I was a risk engineer, I was everywhere from the inside of the Washington, D.C., sewer system to all the way at the top of the Houston Astrodome. I was at Yankee Stadium when it was being built. There’s just so many cool things to see and do, because insurance really touches everything. No business can operate without insurance. If you can find your niche, I really think the sky’s the limit.
What is the Future of Enterprise Risk Management?
By Victoria Trainer - Accounting and Risk Management Student at Georgia State University
What is the Future of Enterprise Risk Management?
Me.
I am the future of ERM. Actually, it is not just me. It’s the other students studying Risk Management, too. I feel so lucky that I happen to be attending University at a time when studying Risk Management is a viable option. The material is engrossing. Learning about Risk Management excites me. Most of all, I am looking forward to joining the risk profession.
If I have not met you yet, my name is Victoria Trainer, and I am double-majoring in Accounting and Risk Management at Georgia State University. This year I was fortunate enough to be selected to receive a scholarship from the Spencer Educational Foundation to attend the Risk & Insurance Management Society (RIMS) ERM Conference in New Orleans. If I learned only one thing at the ERM conference, it’s that there is SOOOO much to learn in this booming industry!
L to R: Analucia Parades, Student at Georgia State University; Carol Fox, Vice President, Strategic Initiatives at RIMS; Victoria Trainer, blog author.
Attending the RIMS ERM conference as a student was incredible. My favorite part was meeting risk professionals. Like me, most of them stumbled into the field by accident and have really enjoyed it. These folks are incredible, and ever so curious! I also enjoyed seeing that much of the material covered in the various sessions were the same topics that are covered in my Risk Management classes. I am already using the handouts and whitepapers from the conference in some of the work I am doing right now for classes. I loved how much dialogue there was between the speakers and audience during some of the sessions I attended. It demonstrated that many businesses face similar obstacles, and together, we can exchange ideas about how to face them.
As I was getting ready to head home after the conference, I saw Carol Fox and told her that I had a new goal for myself: I want to be a presenter at a future ERM conference. I encourage every risk professional to attend the RIMS ERM conference! The people in attendance, along with the robust and relevant sessions, make it worth the trip.
With a nearing graduation date of May 2020, someone asked me if I was suffering from senioritis, and truth be told? Quite the opposite. If anything, I am studying harder. It’s a bittersweet feeling to know I will be leaving the world of academia, a world that introduced me to risk management for the first time. I will be trading in structured lectures and case studies for real-time challenges that need to be solved.
This post would not be complete without expressing my gratitude. First, to the Spencer Educational Foundation, whose scholarship made it possible for me to join the conference. Second, to my professor at Georgia State, Jim Presmanes, who nominated me for the Spencer Scholarship. Third, I to the wonderful people at RIMS who organized the conference. And finally, to all the risk professionals reading this: thank you as well, and I encourage those of you needing personnel in your ERM departments to consider students! There is so much to discover, and we want to be a part of that.
Spencer Funds Career Development at Temple's Fox School of Business
The foundation is creating the Spencer Center for Professional Development in Risk Management and Actuarial Science with a $225,000 grant to the Department of Risk, Insurance and Healthcare Management program
The Spencer Educational Foundation is awarding a $225,000 grant to fund a career development center within the Department of Risk, Insurance and Healthcare Management (RIHM) at Temple University’s Fox School of Business.
The Spencer Center for Professional Development in Risk Management and Actuarial Science will offer professional development activities specific to students in RIHM.
“We could not be happier to support this project at Temple University’s Fox School of Business,” says Megan Miller, executive director at Spencer. “Temple’s work in preparing students for careers in Risk Management, Insurance, and Actuarial Science is paramount in ensuring a robust talent pipeline for our industry. We are honored to be affiliated with the career center and privileged to place the Spencer name behind these efforts.”
Professional development is a key component in the RIHM’s focus on providing students with the skills that will help them find jobs in their chosen industry after graduation and excel throughout their careers. The center will maximize those efforts with financial support for programs, operations and events.
“We are excited to partner with the Spencer Educational Foundation to further enhance our students’ professional acumen as they seek out successful and rewarding careers,” says Dr. R.B. Drennan, associate professor and chair of the Department of Risk, Insurance and Healthcare Management at the Fox School. “We are grateful for Spencer’s support, which will help us continue to transform our students into highly successful professionals.”
The center will offer several different activities:
● Career receptions for internship opportunities and pre-graduation career opportunities,
● Resume, interview, etiquette and writing skills workshops,
● Industry speakers, and
● Participation in conferences.
For more information on the center, contact Matthew Coughlin, associate director, Fox School of Business and School of Sport, Tourism and Hospitality Management, at Matthew.Coughlin@temple.edu or 215-204-5332.
About the Fox School of Business
Temple University’s Fox School of Business is the largest, most comprehensive business school in the Philadelphia region and among the largest in the world, with more than 8,500 students, more than 220 full-time faculty and 70,000 alumni around the globe. The Fox School has a proud tradition of delivering innovative, entrepreneurial programs for the past 100 years. With facilities that provide access to market-leading technologies, the school fosters a collaborative and creative learning environment. Coupled with its leading student services, the Fox School ensures that its graduates are fully prepared to enter the real-world job market.
Spencer Honors James C. Newton
At Spencer, we like to honor tradition and our mission. Please meet James C. Newton, Jr., Spencer's first chairman and one of the founders of the Robert S. Spencer Memorial Foundation in Atlanta, Georgia. He worked with and was a close friend of Robert (Bob) Spencer at Fuqua Industries. When Bob died prematurely at the age of 53 in 1979, Jim was one of a small group who decided to create a scholarship in his memory. Thus the Spencer Educational Foundation was born. In 1984, when the Foundation was transferred to New York City, Jim stayed on as chairman for another 6 years to ensure a successful transition. He is our only chairman to have held his term for 12 years. During this time he oversaw the creation of a comprehensive scholarship program with a broad donor base; an annual golf tournament with Gallagher that began in 1992 and lives on today; and, the foundations of our current grant programs. He also managed about 15 directors from top insurance companies on the board, and was the first chairman Angela Sabatino, our original Program Director, reported to. Our current Chairwoman as of this writing, Marya Propis, is 15th....how historic is that?
This year at our 40th Anniversary Gala, we presented Jim with an appreciation award to mark his last time attending our event. Jim, thank you again for everything you have done for Spencer. We wish you the best in all that you do!
From L to R: Megan Miller - Spencer Executive Director, Jim Newton, Angela Sabatino - Spencer Programs Director, Teresa Black - Board Member, Gala Chair and EVP at Chubb
Jim Newton with Marya Propis - Spencer Board Chairwoman and Director of Distribution and Broker Partnerships at All Risks, Ltd.
Spencer Grants Send 28 Risk Management Students to RIMS ERM Conference 2019 in New Orleans
Twenty-eight students from nine universities were awarded Spencer Educational Foundation grants to attend RIMS ERM Conference 2019 in New Orleans on November 4th and 5th. The funding – which is intended to cover travel, accommodations and event registration – will give these up-and-coming risk management and insurance professionals access to RIMS world-renowned education and networking.
With enterprise risk management (ERM) programs continuing to gain traction as a critical strategic and operational capability for organizations around the world, the two-day RIMS conference will feature business and ERM leaders who will share their experiences implementing and sustaining this value-creating risk management approach. To learn more about the RIMS ERM Conference 2019 or to register, visit www.RIMS.org/ERMConf2019.
“Spencer identified RIMS ERM Conference as an incredibly valuable learning experience that exposes students to next-level risk management practices,” said Spencer Executive Director Megan Miller. “Our Foundation prides itself on creating opportunities to prepare students for real-world risks and real-world expectations. We are thrilled to provide financial support to these exceptional students.”
Established in 1979, Spencer continues to fund the education of tomorrow’s risk and insurance leaders by helping to promote the industry to the next generation. Since our founding, we have awarded 1,141 scholarships totaling approximately $7.35 million, and $4.1 million in grants to universities and professional institutions for educational programs and conferences. The Foundation has touched more than 44,000 students through its programs. For more information, visit www.spencered.org.
Grant recipients include the following universities and students:
Temple University
Kushal Parikh
Divya Pawar
University of Georgia
Anna Baker
Natalie Hirsch
University of Southern California
Austin Gumins
Jasmine Klein
University of Wisconsin-Madison
Aina Athirah Ab Latip
Nakul Arora
Sarah Arshad
Will Brown
Marissa Fowler
Jonathan Korger
Appalachian State
Devon Goolsby
Megan Moreno
Florida State University
Alex Factor
Rachael Gunter
Georgia State University
Analucia Pajares
Victoria Trainer
St. John’s University
Catherine Caracappa
Dylan Hawxhurst
Aba Dane Joseph
Chul Hyung Lee
Juan Carlos Merlo
Wei Qian
St. Mary’s University
Olivia Bachelet
Bianca Hernandez
Julia Kheiv
Fernanda Sandoval
Chris Lang Joins Spencer Board of Directors
Spencer leadership confirmed the addition of Christopher J. Lang, Global Placement Leader – US/Canada Division for Marsh to its Board of Directors. The appointment is effective as of September 2019.
A valued member of the insurance industry, Lang brings 32 years of diversified experience in global placement, relationship management, and underwriting to the Foundation. His professional service within the industry includes active engagement on various Carrier Advisory Boards, Marsh Resource groups and emerging talent mentoring. “Throughout his career, Chris has proven himself as a leader in the industry who exemplifies leadership and client service,” said Chairperson Marya Propis. “Spencer leadership is excited to welcome Chris Lang to its Board of Directors. With his help and the continued support of Marsh as a key partner, we are even further enabled to deliver exceptional resources for tomorrow’s risk management and insurance leaders.”
Prior to his current responsibilities, Lang served within the Global Specialties organization as the Global Relationship Officer for AIG. Preceding that role, Lang held a variety of roles in FINPRO, managing client and market relationships across the management and professional liability spectrum. Before joining Marsh, he served in underwriting management roles at Continental Insurance Company and AIG.
Established in 1979, the Spencer Educational Foundation funds the education of tomorrow’s risk management and insurance leaders by awarding scholarships, facilitating internship opportunities, providing Risk Manager in Residence programs to universities, and awarding grants to help promote the industry to the next generation.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.
Spencer Applications Now Open!
Internship Program
Internship grants of up to $7,500 are offered to RIMS member companies to administer a Spencer Student Internship Program locally. The deadline for application submissions is January 9, 2020.
Scholarship Programs
Spencer Offers three categories of scholarship to apply for.
Full Time Students
$5,000 undergraduate awards and $10,000 Graduate and Pre-Dissertation Ph.D. Awards
Application Deadline: January 31, 2020
Undergraduates Apply Here
Graduates Apply Here
Doctoral Candidates
Application Deadline: March 1, 2020
Part-Time Master Degree Students
Scholarships of up to $10,000 are awarded to practicing risk and insurance professionals in part-time Master programs. Amount based on tuition and employer reimbursement.
Applications Open: February 1, 2020
Application Deadline: May 1, 2020
Spencer Gala Raises $1.3M For The Next Generation of Risk Management and Insurance Professionals
2019 Spencer Gala Dinner Chair, Teresa M. Black
Industry Leaders M. Steven DeCarlo and David North Honored for Unwavering Support of Rising Risk and Insurance Professionals
More than 700 insurance and risk management executives gathered at the Spencer Educational Foundation’s (Spencer) annual fundraising gala on September 19 at the Midtown Hilton Hotel in New York. The group celebrated gala honorees M. Steven DeCarlo, executive chairman at AmWINS Group, Inc. and David North, chairman and CEO of Sedgwick. The event raised more than $1.3M that will fund the development of grants, scholarships, internship and other educational programming for the next generation of risk management and insurance professionals.
At the gala, Spencer honored Renata Bruno, a junior at St. John’s University. Renata is the first recipient of the Elizabeth Lisle Scholarship donated by the two-time Spencer Scholar Elizabeth Lisle. Also honored at the event was Varun Sivakumar, a senior at Temple University. Varun was the first recipient of the 2018 Steven Penman Memorial Scholarship donated by Sedgwick.
“The insurance industry and risk management profession are filled with countless opportunities for future business leaders, but it starts with providing these future leaders with the chance to succeed in the classroom,” said 2019 Spencer Gala Dinner Chair Teresa M. Black. “Today, more than ever before, businesses are counting on the ingenuity of these young professionals to address a myriad of cultural and technological changes. Spencer could not be more proud to bring this industry together, to celebrate the bright and talented students entering the profession and honor the generosity of this amazing professional community.”
Two-Time Spencer Scholar Megan Miller to Lead Foundation as Executive Director
Miller’s Nonprofit and Insurance Experience a “Winning Proposition” for Spencer
The Spencer Educational Foundation (Spencer) announced the addition of Megan Miller as the Foundation’s executive director. This is a new position and the appointment is effective immediately.
At Spencer, Ms. Miller will oversee the Foundation’s day-to-day operations including the administration of grants, the Risk Manager in Residence program for universities, and the scholarship and internship programs that support undergraduate and graduate risk management and insurance students. Her responsibilities also include managing Spencer’s fundraising endeavors such as the Spencer Gala, golf outings, the Spencer-RIMS Risk Management Challenge academic competition, the Spencer 5K Fun Run, and others.
“As a Spencer Scholar myself, I know first-hand just how valuable this Foundation’s support is,” said Ms. Miller. “In addition to its already outstanding lineup of services, I look forward to working with the Spencer team and its esteemed Board Directors to identify new opportunities that pave the way for tomorrow’s risk management and insurance leaders.”
“Megan joins us with an outstanding skillset and background in both the insurance and risk management arena, combined with a long-standing dedication to philanthropic and humanitarian causes,” said Spencer Chair Marya Propis. “Her blend of leadership skills and altruism priorities made her unique candidacy a winning proposition. And, the best part of her story, Megan is a two-time Spencer Scholar. We are excited to gain her perspective and learn from her keen understanding of our mission and our ability to impact lives.”
Ms. Miller comes to Spencer with an extensive background in nonprofit management and working within the insurance and risk management space. Most recently, Ms. Miller was the executive director for The Sasamani Foundation where she managed an international team, developed strategic and fundraising plans and directed all aspects of its financial performance and viability.
Her work within in the insurance industry included employment at Beecher Carlson, Swiss Re , XL Insurance (now AXA XL) and FM Global.She earned her Bachelor of Science in Engineering from Lehigh University and Master of Business Administration from New York University’s Leonard N. Stern School of Business.
Spencer Elects Lori Seidenberg to the Board of Directors
NEW YORK (April 15, 2015) – Spencer leadership confirmed the addition of Lori Seidenberg, ARM, director and the global head of real assets insurance risk management for BlackRock, Inc. to its Board of Directors. The appointment is effective immediately. A valued member of the risk management community, Lori brings 30 years of diversified experience in risk management and insurance to the Foundation. Her professional volunteerism within the industry includes serving on the RIMS Board of Directors from 2011-2015, as well as on RIMS New York Chapter Board of Directors from 2008 – 2010 and from 2018 – 2019. She also actively participates on the Chubb Real Estate and Hospitality Advisory Board and has presented at numerous industry events.
“Throughout her career, Lori has proven herself as a leader in risk management who unselfishly gives back to the profession through her volunteer work,” said Chairperson Marya Propis. “Spencer leadership is excited to welcome Lori Seidenberg to its Board of Directors and to continue to deliver exceptional resources for tomorrow’s risk management and insurance leaders now with her on our team.”
Prior to BlackRock, Lori was the senior risk manager at Fannie Mae Housing and Community Development and responsible for risk and insurance oversight of their entire multifamily portfolio, including rewriting the insurance guide after Hurricane Katrina. In 2018, she was recognized with the RIMS Ambassador Award and, in 2015, was honored by Business Insurance as one of their Women to Watch. Lori earned the Bachelor of Science in Business from California State University at Northridge.
Spencer funds NYU course to explore insurance data analytics
Spencer awarded a $50,000 grant to New York University’s Center for Data Science to pilot and develop a course that is focused on insurance and insurtech. The course is anticipated to be taught in Fall 2019 and Fall 2020. Michel Léonard, PhD, CBE, who applied for the grant, will create and teach the course.
“We are excited to be investing in curriculum that ties into risk management and insurance industry priorities,” said Spencer Grant Committee Chairperson Andrea Dudek. “Data analytics has become a critical component in corporate and industry decision making. It is critical that our future leaders have the skills needed to make data valuable and actionable. We look forward to working with Dr. Léonard and NYU on this grant.”
Said Dr. Léonard, “The course will showcase the insurance industry’s leadership in expanding the use of A.I. in our daily lives, from self-driving cars to smart homes, cyber security, and predictive modeling, while providing the machine learning skills needed for students to succeed in insurance”
"We are excited to broaden our successful Data Science Masters Program with this offering connecting data science to insurance and insurtech,” said Julia Kempe, Director, NYU Center for Data Science. “This will significantly strengthen the profile of some of our students and prepare them as leading actors in the corporate sector.”
Established in 2013, under founding director Yann LeCun, the NYU Center for Data Science is a focal point for New York University’s university-wide initiative in data science and statistics. The Center was established to help advance NYU’s goal of creating the country’s leading data science training and research facilities, and arming researchers and professionals with tools to harness the power of big data. For more information, visit www.cds.nyu.edu.
Top nine risk management challenge teams named
Spencer is a proud supporter of the 2019 Spencer/RIMS Risk Management Challenge, and we would like to congratulate the top nine teams that will be traveling to the 2019 RIMS Annual Conference & Exhibition in Boston to present their findings before a panel of distinguished industry judges. The nine teams are from (in alphabetical order): Appalachian State University, BCIT, Butler University, Florida State University, Fudan University, St. Joseph’s University, St. Mary’s University, Temple University and the University of Georgia.
To reach this stage in the competition, teams submitted a written paper on a case study. This year the case study involves IKEA. After each team makes its presentation on Sunday, the top three team will be identified and will present in a public session on Monday, April 29. The winner will be announced at the Spencer reception Monday evening.
Spencer kicks off 40th anniversary in Atlanta
The Foundation began its 40th anniversary celebration in the city where it was established — Atlanta. The Atlanta RIMS Chapter’s Education Conference served as the venue for the foundation to begin celebrating 40 years of funding the education of industry leaders.
Joining the celebration were Robert Spencer’s widow, Charlotte Spencer, and their daughter, Libby Swinson. Founding board member Jim Newton and his wife Judy also attended. A reception also was held for local alumni.
Here is a link to a video of the celebration, streamed live on Facebook. During the event, we debuted a new video:
The Atlanta chapter made a $25,000 contribution to Spencer. Over time, the chapter has contributed more than $500,000 to the foundation. The Chapter has established two named scholarships and has supported the foundation’s ongoing programs.
Foundation Chairperson Marya Propis with Spencer alumna Sunmi Hirata and LaKenya Young.
Celebrating Spencer’s 40th anniversary: Spencer alumni Paulus Ackah (far left), Julia Hellman (third on left) and Sunmi Hirata (far right) talk with Charlotte Spencer, Jim Newton, Judy Newton and Libby Swinson at a reception the night before the luncheon.
In Memoriam: Ronald M. Winans
Spencer opens applications for 2019 scholarships and grants
Foundation highlights awards new scholarship opportunity in 2019
“For many years we have offered a Pre-Dissertation Ph.D. scholarship,” said Mr. Tim Meacham, Chair of the Scholarship Committee. “We need to make sure that there are professors in the schools to teach risk management and insurance and are pleased to extend our scholarships to doctoral candidates.”
The Doctoral Candidate Scholarship application will follow a slightly different schedule – opening in November 2019 with a deadline of March 1, 2020.
In 2019, two Doctoral Candidates were awarded $10,000 scholarships: Ms. Juan Zhang of Temple University and Ms. Chenyuan Liu of University of Wisconsin-Madison
2019: FULL-TIME UNDERGRADUATE SCHOLARSHIPS
“What’s new this year is that we are recognizing academic performance, leadership, community service and commitment to the industry,” said Tim Meacham, chairperson of the Foundation’s Scholarship Committee and COO of Lockton Benefit Companies. “The top five undergraduate applicants as determined by our committee will receive a $7,500 scholarship and named a Spencer Honors Scholar.”
Spencer awards undergraduate scholarships in the amount of $5,000 and Master and pre-dissertation scholarships in the amount of $10,000. Among the criteria students must meet are: they must be a full-time student for the full 2019-2020 academic year; have major or minor in risk management, insurance, actuarial science, business/finance; and have a GPA at or above 3.3. The full list of criteria can be found at https://www.spencered.org/students/scholarships/. Completed applications are due by January 31, 2019.
INTERNSHIP GRANTS
“Our grants enable risk managers to provide experiential learning opportunities to students,” said Marya J. Propis, chair of the Spencer’s Internship Committee and SVP, Director of Distribution& Broker Partnerships at All Risks, Ltd. “To keep pace with the job market, we are delighted to increase our grant from $5,000 to $7,500 for 2019.”
The Foundation will only be awarding 40 grants for 2019. Risk managers interested in applying for this grant should read the criteria. Applications must be completed by January 9, 2019.
Established in 1979, the Spencer Educational Foundation changes lives and propels careers by awarding scholarships, facilitating internship opportunities, providing a Risk-Manager-in-Residence program to universities, and awarding grants to help promote the industry to the next generation. For more information, visit www.spencered.org.
Spencer Awards 16 Part-time Master’s Scholarships
Total value of scholarships awarded for 2019 exceeds $600,000
June 27, 2019 (NEW YORK) – Spencer, the premier foundation supporting risk management and insurance education, awarded scholarships to 16 industry professionals who are seeking master’s degrees part-time. Each recipient was granted up to $10,000; a total of $148,315 was awarded. Combined with its full-time scholarships, the Foundation awarded 93 scholarships this year totaling $600,815. Since its inception, the Foundation has given out more than 1,143 scholarships.
Tim Meacham, Chair of the Foundation’s Scholarship Committee and COO of Lockton Benefits Companies congratulated the recipients, “These individuals are taking an important step to further their education. Their dedication and commitment to advancing themselves also helps advance the industry as a whole. We would also like to thank our donors, for making the education of tomorrow’s industry leaders possible and accessible.”
The 16 outstanding industry professionals receiving the scholarships this year can be found here:
Spencer Scholars are selected through a rigorous and competitive process. Criteria for evaluation include field of study, career objective, work experience, leadership skills and academic performance.
Applications for the Foundation’s Part-time Master’s Scholarships will be available on the Foundation’s website (www.spencered.org) in February, 2020.
Spencer is moving!
We’re moving offices! Our new address is effective June 4th.
Starting at 12:00pm (eastern time) on Thursday May 31st, we will close the office and suspend our phone and e-mail service as we physically move to our new space. Our website should be unaffected. We will be available to speak and respond to e-mails on Monday, June 4.
Our new address is:
Spencer Educational Foundation
1407 Broadway, 29th Fl.
New York, NY 10018
