Spencer Looks Back with Michael Kerner, 2013 Gala Honoree

"I believe that education opens the door to a fulfilling career and a successful life. But who opens the door to an education? For many people, access to an education is elusive – either the money isn’t there, or the guidance and support is lacking. The Spencer Educational Foundation opens the door through scholarships that help meet the individual’s financial needs, as well as through programs that introduce young people to a rewarding career in insurance and risk management, thus providing guidance and support.

Helping young people get started on their career journey has always been energizing to me. So when I was honored at the Spencer Educational Foundation’s annual gala back in 2013, I was more than pleased to accept the honor and do what I could to contribute to this very worthy cause.

At the time I was honored, I was in a global role with responsibility for a large multi-national general insurance business. Since then, I have seen continued consolidation on both the carrier and distribution sides of the business. There has been massive growth in new, technology-driven business models called insurtech. We’ve also seen a massive expansion in how “traditional” players in our profession are using technology and data to improve the way they manage risk, both through risk mitigation and risk assessment. The world has also become a riskier place: Mother Nature is driving a significant piece of this increased risk but man-made activities are also creating a riskier world – whether due to the tort environment or new exposures, such as cyber. All of this makes what we do in the risk management community all the more challenging and important. 

This is where the work of the Spencer Educational Foundation is so critical. Through scholarships, grants, partnerships, and other vehicles, Spencer introduces the risk management profession to the next generation of professionals, providing them with a foundation of knowledge and guiding them on the journey to a fulfilling career. 

And our industry is in need of this incoming talent. The insurance industry and the risk management profession are seeing a steady increase in the breadth, depth and complexity of our roles within society. Navigating these ever-increasing challenges requires professionals with broad skills along with deep expertise. We need to be able to attract and encourage the next generation of risk management professionals to join the industry and make a contribution.

Today, I am responsible for a North American-based unit of a global re/insurance company. In this pandemic environment, I am now working from home and spending more time with family, friends and hobbies. However, I continue to have the pleasure of working with a great team of people and face interesting and important challenges every day.

My biggest personal accomplishment, by far, is a successful marriage of 26+ years along with two wonderful, worldly and thoughtful young adult children. I think my biggest professional accomplishment is being a respected and trusted member of the insurance business community, someone who has helped colleagues achieve their goals, advance their careers and enjoy the journey.

To this year’s scholars, my advice is to take the time and make the effort to learn the business. Risk management is a skills business, and those who are successful in it tend to have a strong foundation in the fundamental skills that underpin the business – whether that be underwriting, claims, loss control, actuarial, finance, negotiation, or communication. I’m not aware of any short cuts to building those skills – they come from classroom training and on-the-job experiences. Build the right foundation of skills and let your energy, commitment and wits take you to the career you aspire to have!"

View Michael’s full acceptance speech from the 2013 Gala here.

Spencer Looks Back with 2013 Gala Honoree Patrick G. Ryan

"I had known of the Spencer Educational Foundation for quite a long time before I was honored at their 2013 gala. Several of my close friends were early adaptors to the culture and principals of the Foundation, and I had seen how the contributions they were making to the industry through Spencer allowed them to prosper. Stimulated by these good friends who I hold in high esteem, I was thrilled to be chosen. My involvement with Spencer since then has further convinced me that everyone should help our industry’s future professionals through the Spencer Educational Foundation. And, of course, we are continuing to do that at RSG.

When I was honored in 2013, Ryan Specialty Group was only three years old. Throughout the last seven years, RSG has grown exponentially. Consistent with the principals of the Spencer Educational Foundation, we have been developing our recruiting and training program to attract young people coming into the insurance industry. This has been a big contributor to our success over these past 10 years. Recently, we made the decision to merge with All Risks, Ltd., who has developed one of the premier recruiting and training programs in the insurance brokerage industry. This merger is a big step in terms of the developing, recruiting, training, inspiring, and educating young people in our industry.

I am living proof that anybody can succeed in this industry through hard work and equipped with the right mentors and education. I’m very proud to have founded three sizeable companies that have become prominent in the industry: The Warranty Group, which is now owned by Assurant; Aon Corporation; and Ryan Specialty Group, which has built a prominent position in wholesale broking and managing underwriting facilities. But nothing is more valuable than my greatest personal accomplishment, my wonderful family. I pride myself on my family, not only immediate but also my extended family. Thank God my family is healthy. Thank God my family is tightknit and close together. The community and bonds that we build are essential to our personal and professional success – therefore, we need to actively work to keep our RMI community healthy, strong and tightknit. To do this, we need to invest in our future.

Spencer has been a highly impactful organization to attract high-quality talent to the insurance industry. It is a vehicle where young people are enabled to enter the industry with a solid foundation, and are exposed to seasoned professionals who can serve as mentors and guide them through the early stages of learning this fabulous business.

Since I was honored at the 2013 gala, the most important change in the industry is the complexity of risk in the world and how our great industry addresses those risks. We’re seeing this through COVID-19; we’re seeing it in multiple ways beyond COVID-19. Right now, there have been two hurricanes that have descended on the coasts of the United States at the same time. Social inflation liability, cyber and transactional exposures, among a myriad of other emerging and ever-present unforeseen threats are driving the complexity and severity of risks. This kind of magnitude of risk, scale, scope and aggregate impact is a dramatic change in these last seven years. The losses that are hitting global society are dramatically increased. And there’s every reason to believe this will continue to escalate. This is a big impact on our industry – it’s testing us, and I think our industry is standing up well to those tests.

It’s currently a unique time to enter our industry. The world is much riskier than it ever has been before. But the expertise that Spencer Scholars bring when they enter this industry grant them the unparalleled opportunity to contribute to society, while still making them extremely valuable to clients, their company, and all of the stakeholders with whom they are involved. The insurance industry has never been more important to the welfare of humanity, or to the welfare of economies all around the world. So my message to today’s Spencer Scholars is: you have made a good decision in selecting this industry. Now, focus on your development and find out what you enjoy. Remember that expertise is the ultimate differentiator in our industry. Your value grows exponentially as you make yourself stand out with knowledge and the quality of services you bring to your clients and employer."

View Pat’s full acceptance speech from the 2013 Gala here.

Spencer Looks Back with 2009 Gala Honoree Pat Gallagher

"Some of the best advice that I’d like to offer to today’s Spencer Scholars: do well in school, and prepare for a great career in the best business on the planet.

The insurance and risk management industry is exciting and ever-changing, constantly adapting to the changing needs of our clients and enabling them to successfully manage their risks and benefits. As insurance professionals, we constantly hone our skills to support these ever-changing needs of our clients and we work hard to support the communities in which we operate. In uncertain times, like during the current global pandemic, our clients and our communities rely on us more than ever to help them understand and navigate risk. For Gallagher, people, communities and business have always been, and will always be, dominate priorities.

I’m extremely proud that I’ve been able to grow and lead a dynamic organization of nearly 33,000 employees globally, all maintaining our unique culture – rooted in a philosophy of integrity, empathy and respect – that is committed to our clients, people, community, carriers and shareholders. We are focused on driving increased diversity at all levels, including our early talent recruitment. We have many inclusion and diversity partnerships, including with the National Underground Railroad Freedom Center and Special Olympics International. We have been honored for nine consecutive years as one of the World’s Most Ethical Companies by the Ethisphere Institute, and for the last two years we have earned 100% on the Human Rights Campaign Foundation’s LGBTQ Workplace Equality Scorecard.

We will always create the best outcomes for customers, improve the world and our communities, work diligently to meet clients’ risk management needs, and grow shareholder value – all while abiding by our company culture of respect, inclusivity and diversity. That is The Gallagher Way, the heart of our entire organization, and it relies on young, educated and innovative talent choosing to join our industry.

Because the landscape of our industry is ever-changing, it’s essential that we continually attract young people into it so that we can continue to adapt. The industry needs to do a better job of showcasing everything that it has to offer: the vast array of career opportunities, the excellent earnings potential, and the broad variety of ways that we give back to the community. This is where Spencer comes in.

The Spencer Educational Foundation and Gallagher share a common value: to introduce talented young people to the many career opportunities available to them in insurance and risk management, and to support them on their journeys. The foundation was created to help fund future insurance and risk management leaders. Most college students wouldn’t initially consider insurance as a career path unless they knew that there were educational and learning opportunities available to them, such as grants from Spencer, or internship programs such as Gallagher’s. Both Gallagher and Spencer are committed to bringing greater awareness to this dynamic career.

I was truly excited to be honored by Spencer back in 2009 - I wanted to do my part to support engaging young people in a way that reached beyond the borders of Gallagher. Our internship program has been in place and growing since 1965, and we host 500 interns globally every year. Interns have been incredibly important to the company—in fact, many of our current leaders came to Gallagher as interns. The opportunities that Spencer provides match our philosophy and dedication to providing an avenue for students to engage in a career in what I have always felt is the best business in the world. I was honored and excited to be associated with an organization that shares our values."

Spencer Center for Professional Development in Risk Management and Actuarial Science to open at Fox School

From Temple University, August 5, 2020.

The Spencer Educational Foundation recently awarded 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 new Spencer Center for Professional Development in Risk Management and Actuarial Science will offer professional development activities specific to students in RIHM. 

In addition to the center’s opening, 15 Fox undergraduate students have received 2020 Spencer Scholarships, including a top-five award out of 67 total recipients. 

Below are the award winners.

1.      Mallory Sanders – Spencer Scholarship; Top-Five Award – $7,500

2.      Brian Zimmie – Risk and Insurance Management Society Scholarship – $5,000

3.      John Reilly – $5,000

4.      Shelby Green – Liberty Mutual Group Scholarship – $5,000

5.      Andrew MacQueen – $5,000

6.      Gina Banford – New York Association of Insurance Women Scholarship – $5,000

7.      Sabina Brzozowski – Elizabeth Lisle Scholarship – $5,000

8.      Elizabeth Bunce – $5,000

9.      Matthew Henry – FM Global Scholarship – $5,000

10.   Oleksandr Nikipielov – $5,000

11.   Emilia Pelletier – $5,000

12.   Grace Brighter – $5,000

13.   Matthew Ginsburg – $5,000

14.   Gabriel DiGiamberardino – $5,000

15.   Connor French – $5,000

Spencer Executive Director Megan Miller and Chairperson Marya Propis spoke to Spencer Scholars and other students at a luncheon last semester following the grant announcement.

“If you leave here with nothing else in mind,” Propis said, “we want all of the students as well as the academic leaders to know that Spencer can follow you throughout your career journey and career progression.”

Miller echoed Propis’ remarks.

“We want you to feel that there is value in life for being a Spencer Scholar,” Miller said. “There are networking opportunities and the ability to contact leaders in the industry, so when you’re ready to make that next career step, we’re here to support you in various ways.”

The Spencer Scholarships are awarded to students studying risk management and insurance or actuarial science. Rob Drennan, the director of Fox’s Department of Risk, Insurance and Healthcare Management, was elated to see Temple’s large award representation.

“Receipt of a Spencer Scholarship is one of the highest forms of recognition a student studying RMI or Actuarial Science can receive,” Drennan said. “I know we are all very proud of these students as they continue to represent Temple in a favorable way.”

It was easy for the Spencer Educational Foundation to choose the Fox School of Business for its first major partnership.

“To have this at such a prestigious university like Temple University is a huge moment for us,” Propis said. “Temple has the best product in the industry. The students we interview from Temple are the best-prepared, most well-rounded, have the best public speaking skills, as well as the best practical skills for things that will make them really terrific professionals once they graduate.”

One of those past Spencer Scholars is Tyler Welch, BBA ’20, who graduated in May with a 4.0 GPA. He has worked for the National Academy of Social Insurance, International Business Association at Temple and Passumpsic Bank.

Welch said he would be going nowhere if it wasn’t for Spencer’s involvement in his life. 

“It gives me the freedom and the training to make decisions that are best for me and my career,” he said. “I’ve made some great connections throughout the process, and even throughout the department. Other Spencer Scholars that I saw every day but didn’t know their names, now I know their names. It’s been really good inside the classroom and outside the classroom.”

Welch said being a scholar has also allowed him to be more financially independent.

Once it opens, the Spencer Center will hold career receptions for internship and pre-graduation career opportunities, offer résumé, interview, etiquette and writing skills workshops, and present industry speakers for learning and networking sessions.

Spencer Looks Back with 2015 Gala Honoree Chris Maleno

"It’s incredible to think about how much has changed since I was honored at the Spencer Gala back in 2015. On a personal level, I’ve gone from running the Major Accounts practice for Chubb, to taking over North America Field Operations. They’re very different roles, going from underwriting management to distribution management. The industry at-large has also changed massively since then: we’ve seen broker consolidation; continued emphasis on making underwriting profit while balancing growth and exposures; more collection, analysis and application of data in decision-making; and the development of self-service tools that agents, brokers and clients can utilize.

At the same time, there are many things that have remained the same since 2015. Personally, I have been married for 27 years to the same person, I have three kids that continue to amaze me (none of which have given me an award, but there’s always next year!), and after 32 years in insurance I still find myself challenged, building new skills and learning the business. I’m very grateful for this consistency.

Looking back on my quote from the 2015 Spencer Gala, I’m amazed at how relevant those same issues are today: recent college grads still face increasingly large amounts of debt and a disappointing job market, especially at this particular moment with the crushing economic consequences of the pandemic. It’s for these reasons that the Spencer Educational Foundation is so essential.

Spencer’s mission to fund the education of tomorrow’s risk management remains a fixture of our industry, helping students tackle debt and employability challenges, and maintaining a healthy talent pipeline for our industry. Spencer builds that bridge between carriers, risk advisors and the educational institutions that are developing our next generation. Not to mention, the Spencer board is made up of seasoned professionals from all different areas of our business, which ensures they get creative in how they engage with students and their schools. It's a terrific link to young adults already interested in risk management.

Since I spent over a decade as a board member, I witnessed firsthand all the good work that Spencer does. DeAnna Young, for example, caught my (and the entire audience’s) attention with her Spencer Scholar speech the same year that I was honored. She is now a successful Chubb underwriter in our Medical Risk group. Knowing her experience and those of many other students, I felt especially privileged to accept the honor in 2015.

My advice to this year’s Spencer Scholars: join our dynamic industry. It has so many facets, from risk taking and risk advising, underwriting and loss control, to technology, analytics and all the other support required to design and deliver our products and services. If you have an interest in business, there's something in insurance that will attract you, and then keep you in."

View Chris’s full acceptance speech from the 2015 Gala here.

Angela Sabatino reflects on her career with Spencer

From Advisen, June 22, 2020.

By Rebecca Gainsburg

For more than three decades at the Spencer Educational Foundation, Angela Sabatino has changed the lives of thousands of students. In a recent interview with Advisen, Sabatino reflected on her career, working with the Spencer board, and the importance of educating students about the insurance industry.

“I gave marital advice, job advice, personal advice, self-improvement advice,” Sabatino said. “I brought the emotional influence to Spencer, the down-to-earth nature, and the influence in working with committees.”

She recalled one scholarship recipient who lost both parents to cancer in the same year. “That was heartbreaking. We were on the phone at least once a week for a couple of months and then he went on and he moved forward,” said Sabatino.

As program director, Sabatino managed all five of Spencer’s grant programs: scholarship, internship, risk management in residence, general grants, and introductory course development. She monitored the quality of programs, maintained relationships with program professors, and for many years she was the first person that people spoke to when they called Spencer.

“I remember the phone call from Angela letting me know I had received my first scholarship,” said Megan Miller, Spencer executive director. “I was so excited, and she seemed to be as well. Even though she had probably notified dozens of other students, that day her joy while giving me the news was real.”

“Flashing forward to my first day in the office as Spencer’s new executive director, Angela greeted me at the elevator bank with a beautiful bouquet of flowers,” said Miller. “She now alternates between calling me her boss and calling me her baby, which is what she calls all of our scholarship recipients. I’ve learned more from her in the past nine months on the job than any ‘boss’ could ever convey to a team member.”

Sabatino’s approachability was one of the things that made her great at her job. Students could come to her with uncertainties and fears over starting a new career. “And I would say, ‘Try. Give it a try. I think you’re just nervous about starting a job,’” Sabatino said. Many of those students went on to be vice presidents, she recalled with a laugh.

The team Sabatino worked with pushed her to be better, she said. It was the commitment of the board and the enthusiasm of her colleagues that pushed Sabatino to innovate. Spencer board members were not just names on a letterhead; they were always involved and eager to hear new ideas, Sabatino said.

“Angela has been extraordinary in her commitment to our programs and to all our stakeholders,” said Marya Propis, senior vice president. “She has awed me over the years with how innovative and creative she is with her ideas to strengthen the program and the value of data. I have truly enjoyed partnering with her – and it has been a real partnership – and I learned from her in many ways.”

Sabatino’s ability to ensure complete college and university applications, well-considered teaching agendas, and her skills at advocating for student financial needs all come down to the way Sabatino works – leading with her head and her heart, said Propis.

“No one wants to disappoint Angela,” continued Propis. “She’s helped all of us and Spencer elevate our game in countless ways during her impressive tenure.”

There were many challenges in the last two years: restructuring the company, training new employees, adopting a new strategy and the COVID-19 pandemic, but through it all Sabatino says Spencer stayed true to its values.

 “I commend the board of directors at Spencer,” said Sabatino on the organization’s response to COVID-19. “On all of their grant programs they said, ‘We will not deprive the students of one scholarship.’ They awarded all the money that they had budgeted.”

When asked who had inspired her the most during her career, Sabatino listed Spencer Chair Marya Propis, Board Member Ron Davis and the RIMS Staff. “You couldn’t get a better group of people who would bend over backward to help you accomplish something,” Sabatino said.

“When you have people that you’re interacting with who are so enthusiastic and put fervent enthusiasm into their work, you want to do more,” said Sabatino.

In retirement, Sabatino will continue to work with students, volunteering to mentor young women, in addition to traveling and spending time with friends.

To honor Angela Sabatino’s hard work and dedication, Spencer Educational is throwing a retirement celebration Friday, June 26th at 1pm ET. This community-wide tribute is open to all.

Register here: https://interland3.donorperfect.net/weblink/WebLink.aspx?id=85&name=sef

Spencer Educational Foundation’s Funding Their Future Campaign Starts on Monday June 15

INAUGURAL CAMPAIGN INVITES TOP INSURANCE AND RISK MANAGEMENT EXECUTIVES TO STAND TOGETHER TO BENEFIT INDUSTRY EDUCATION

New York, NY, June 10, 2020 – Top insurance and risk management executives are coming together in a new way to support the Spencer Educational Foundation via its inaugural Funding Their Future campaign, which runs June 15 through the end of September.

The Funding Their Future Campaign is being held in lieu of Spencer’s annual gala, one of the industry’s most successful fundraisers.  The multifaceted campaign celebrates the bright and talented students entering the profession and recognizes longtime industry leaders and community supporters. The $1 million Spencer hopes to raise through this campaign will enable the Foundation to continue offering grants, scholarships, and internships to foster the next generation of risk management and insurance professionals.

In 2019 alone, Spencer invested more than $1.5 million into the industry through 92 scholarships, 42 internships, and over 40 grants to support initiatives and experiential learning via universities and professional institutions.  While an in-person celebration is not possible this year, the need to raise funds to underwrite future programs is more critical than ever, as Spencer intends to honor all funding commitments in 2020 despite the pandemic.

“Spencer remains very committed to standing up and being a change agent,” said Marya Propis, Chairperson of Spencer and SVP, Director of Distribution & Broker Partnerships at All Risks, Ltd. “We will continue leading with action by supporting the future of our diverse group of risk management and insurance students.  This new campaign enables prominent organizations and individuals to stand with us in support of our future industry leaders.”

Spencer hopes you will join with them and contribute to the Funding Their Future campaign as the Foundation provides dynamic updates on its website, www.spencered.org/funding-their-future.  Featured content will include a powerful lineup of remarks and storytelling from board leaders, high-profile industry professionals, and our talented scholarship recipients. The Foundation will also celebrate past Gala honorees and Spencer Scholars, recognize generous and loyal sponsors, and provide program updates on investments in the industry’s innovative and bright future. 

About Spencer Educational Foundation:

Established in 1979, the Spencer Educational Foundation is a 501(c)(3) nonprofit organization created in memory of leading risk manager Robert S. Spencer.  Our mission is to fund the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since our founding, we have awarded nearly $8 million in scholarships and another $5 million in grants to universities and professional institutions. impacting more than 60,000 students through our programs. For more information, visit www.spencered.org. 

Board of Directors

Marya J. Propis – Chairperson, All Risks, Ltd.

Robin S. Joines – President, Sedgwick

Matthew Schneider – Treasurer, Aon

Peter Heard – Vice President, Travelers

Teresa M. Black – Secretary, Chubb

Stephen Acunto, Jr., Business Insurance

Kristen M. Bessette, QBE North America

Butler Bourgeois, Gallagher & Co.

Joseph Cellura, Allied World

Jeffrey M. Cohen, Advisen

Dr. Cassandra Cole, Florida State University

Ron Davis, Zurich

Andrea M. Dudek, Accenture

Ellen Dunkin (ex officio), Amalgamated Family of Companies

Duncan Ellis, AIG

Johnell Holly, FM Global

Theana L. Iordanou, ARC Personal Lines

Christopher J. Lang, Marsh

Joseph V. LaRocco, Jr., Willis Towers Watson

Dr. Weili Lu, California State University - Fullerton   

Timothy Meacham, Lockton Companies

Debbie Michel, Liberty Mutual

Michele J. Sansone, AXA XL

Lori Seidenberg, Blackrock

Media contact: Margo Katz  Office: 212-376-5587; Cell: 917-873-6083; FundingTheirFuture@SpencerEd.org

# # #

Back-To-Back: St. Joseph's University Wins 2020 Spencer-RIMS Risk Management Challenge

Teams Deliver Solutions for Re-Opening College Campuses Post-COVID-19

NEW YORK (May 15, 2020) — For the second year in a row, St. Joseph’s University was named the champion of the Spencer-RIMS Risk Management Challenge. This year’s case study, provided by the University of Dayton, was centered on risks facing the higher education space, with a final question focused on the COVID-19 pandemic and risk management strategies for re-opening the campus in Fall 2020.

The St. Joseph’s team, comprising four risk management students, competed against 23 other universities and delivered the award-winning risk management presentation, virtually to a panel of industry leaders. Presentations from the three finalists are available here.

Members of the Saint Joseph’s winning team included:
Joseph Angelina
Kayla Cecchine
Nicholas Myers
Brendan Tarte
Academic Advisor: Michael Angelina

“Even in our challenging environment, Spencer is proud to say that we have never stepped away from our commitments to risk management and insurance students, and the risk management challenge is a great example of our continued support,” said Spencer Chairperson Marya Propis. “Thanks to all the students and advisors for their hard work this year. Our judges, RIMS, and the risk management team at the University of Dayton is also to be commended for creating an outstanding virtual experience.”

“As COVID-19 has left business leaders with many questions to answer, our Spencer-RIMS Risk Management Challenge students took on the biggest one – how do we re-open for business – and demonstrated an extraordinary command of complex risk management practices and the creativity needed to support decision-making,” said RIMS CEO Mary Roth. “St. Joseph’s University, our participating teams and our student members continue to show great promise and we are proud to welcome them to RIMS’ global community.”

The challenge began with 23 universities, eight months ago but, as a result of the global COVID-19 pandemic, the program evolved to reflect current events. The final round of the competition asked the teams to assess the ongoing COVID-19 crisis and uncertainty regarding return to work schedules and develop a strategy to bring students back to the University of Dayton for the Fall semester. Normally awarded at RIMS Annual Conference, the final rounds of this year’s competition were conducted virtually.

Second place in this year’s Challenge was Florida State University and the third place team was Butler University.

About Spencer
Spencer was founded in 1979 and to this day remains the premier organization funding the education of tomorrow’s risk management and insurance leaders. Over the last 40 years, Spencer has awarded more than $7.35 million to support 1,141 scholarships, and another $4.1 million in grants to aid universities and professional institutions in preparing students to work in our industry. To learn more about Spencer, visit www.SpencerEd.org.​ 

About RIMS
As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society®, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 10,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

Women's History Month - Honoring the Women of Spencer

Left to right: Spencer Chairperson, Marya Propis; Spencer Executive Director, Megan E. Miller

According to the Insurance Information Institute (III), there are over 1.7 million women employed in the insurance sector, accounting for approximately 60% of the 2.8 million workers in the insurance industry. At Spencer, we want to make sure women in the insurance and risk management sectors are supported and continue to succeed. Spencer champions women not only this month, but every month!

Recognizing Spencer's Executive Director (and two-time Spencer Scholar), Megan E. Miller

We'd like to recognize Megan E. Miller, our Executive Director and two-time Spencer scholar! Ms. Miller joined Spencer in September and comes with an extensive background in nonprofit management and working within the insurance and risk management space. Her work within the insurance industry included employment at Beecher Carlson, Swiss Re , XL Insurance (now AXA XL) and FM Global...Read More

Recognizing Spencer's Programs Director, Angela Sabatino

Spencer's Programs Director, Angela Sabatino, will be retiring at the end of June after 33 years with the Spencer Educational Foundation. Not only does Angela bring countless years of knowledge about the ins and outs of Spencer, but a personality filled with kindness, compassion, and excitement for her role and our organization. Many people consider Angela to be the “heart” of Spencer. She personally calls each scholarship recipient to inform them of their selection, and from that day on she considers them her “babies.” We will miss her greatly, and are so thankful for all the time she chose to spend with Spencer!

Congratulations to our 2019 Female
Spencer Scholars!

• Emily Bauer (University of Georgia)

• Renata Bruno (St. John's University)

• Macy Butz (Florida State University)

• Kayla Cecchine (St. Joseph's University)

• Li-Hsuan (Karen) Chung (Temple University)

• Lauren Close (Temple University)

• Kyrsten Cregger (La Salle University)

• Katelyn Ertel (Indiana State University)

• Emily Fishel (University of Iowa)

• Chaviva Galapo (Temple University)

• Devon Goolsby (Appalachian State University)

• Rebecca Gradle (Temple University)

• Wei He (St. John's University)

• Gillian Kehs (Temple University)

• Melanie Keusch (Olivet College)

• Angelina Lam (Florida State University)

• Jenny Le (Columbia Business School)

• Amanda Mills (Florida State University)

• Lauren Morell (La Salle University)

• Kayla Morrison (University of Georgia)

• Ayesha Munnaza (Georgia State University)

• Chloe Anais Bowendsom Ouedraogo (Georgia State University)

• Hailey Pacheco (University of Texas at Dallas)

• Emily Pancoast (Temple University)

• Elizabeth Peplinski (University of Alabama)

• Erika Perry (Indiana State University)

• Devyani Persaud (St. John's University)

• Kylie Persons (Temple University)

• Rachel Pleasants (East Carolina University)

• Ann Pogrebitskiy (University of Nebraska-Lincoln)

• Stephanie Richardson (Franklin University)

• Katherine Ross (St. John's University)

• Erika Sreenan (Illinois State University)

• Niveditha Srinivasa (University of Texas at Dallas)

• Lisa Virkkunen (Temple University)

• Yiqi Zhao (Temple University)

Notable Spencer Alumni

Renata Bruno – 2019 Spencer Scholar recipient; 2019 Spencer Gala Speaker; Junior at St John’s University; Vice President of Alpha Iota Chapter of Gamma Iota Sigma

Jeanna Madlener – 1999 Spencer Scholar recipient; Spencer volunteer for Alumni Committee and Scholarship Committee; Vice President, Property & Casualty, Woodruff Sawyer

Elizabeth Meldrum Lisle – 1995, 1996, & 1997 Spencer Scholar recipient; Provided a named scholarship in 2019 (Renato Bruno received this scholarship in 2019!); Founder, Silvient Risk Technology Consulting

The Many Women of Spencer - Thank You!

Spencer Receives $50K Gift From New York City Association of Insurance Women (NYCAIW)

Spencer has received a $50,000 gift from the New York City Association of Insurance Women (NYCAIW), an independent organization based in New York  City that focuses on the insurance industry. This gift will be donated to Spencer in increments of $12,500 per year for the next four years. The first installment was remitted in November 2019.

This contribution will create two new NYCAIW named scholarships awarded each year for the next four years to two female applicants. The NYCAIW scholarship continues the trend of Spencer’s vast support for women in the industry, as well as the encouragement for women to join the risk management and insurance sector.

“At Spencer, we are committed to supporting diversity and inclusion in our industry,” said Spencer Executive Director Megan Miller.  “By fostering a diverse talent pipeline right from the start, we help ensure a broad pool of entrants into the industry who bring a wonderful blend of perspectives and backgrounds to solve our biggest challenges.”

To date, Spencer has awarded over 1,100 scholarships totaling more than $7.35 million, and contributed another $4.1 million in grant funding to universities and professional institutions resulting in the talent development of over 50,000 students. In 2019 alone, 37 out of 75 Spencer scholarship recipients were women.

About Spencer Educational Foundation
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. For more information, visit www.spencered.org.

About New York City Association of Insurance Women (NYCAIW)
NYCAIW is an independent organization based in New York City that focuses on the insurance industry. NYCAIW is a non-profit association of insurance professionals made up of women and men dedicated to the development of leaders in the insurance industry through education, networking, charity and industry alliance. NYCAIW members represent all facets of the insurance industry including agents, brokers, claims associates, attorneys, consultants and anyone involved in the industry.

Spencer Funds New Risk Management and Insurance Certificate Program at Mercy College’s School of Business

Mercy College’s School of Business Awarded Grant to Develop New Certificate Program

From Mercy College, March 4, 2020.

Grant Will Fund Content Development for Certificate in Risk Management and Insurance

Dobbs Ferry, New York – March 4, 2020 – Mercy College’s School of Business has received a $40,000 grant from the Spencer Educational Foundation to develop a certificate in risk management and insurance. Spencer Educational Foundation is a New York-based not-for-profit organization with a mission to fund the education of tomorrow’s risk and insurance leaders. The School of Business will use the grant to develop a series of new courses and seminars on cyber risk, credit risk analysis and risk insurance.

“The grant is a recognition of the School of Business’s drive to continuously innovate by adapting the curriculum to disseminate new knowledge and meet the needs of the market,” said Lloyd Gibson, dean of Mercy College’s School of Business. “It also contributes to the College’s emphasis on student success by providing an opportunity for students to acquire new skill sets in order to compete in the dynamic environment of business. We are grateful to the Spencer Educational Foundation for their belief in the School’s vision and for providing our students with a new pathway to reach their potential.”

This certificate program will be developed as an undergraduate program in Mercy College’s School of Business and will include seminars for graduate students. The new courses will use a multi-disciplinary approach to teach risk mitigation techniques.

“Managing risk is a fundamental skill that applies to all industry sectors,” said Victor Petenkemani who is associate dean of the School of Business and will be the initial director of the new program. “All Mercy students and the community at large will therefore benefit from the dissemination of new knowledge in an era that is fraught with uncertainty.”

Mercy College leadership hopes that the new certificate program will ultimately lead to a new degree program in risk management at the School of Business.

About Spencer Educational Foundation
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. For more information, visit www.spencered.org.

About Mercy College
Mercy College is the dynamic, diverse New York City area college whose students are on a personal mission: to get the most out of life by getting the most out of their education. Founded in 1950, Mercy is a coeducational and nonsectarian college that offers more than 90 undergraduate and graduate degree and certificate programs within five schools: Business, Education, Health and Natural Sciences, Liberal Arts and Social and Behavioral Sciences. With campuses in Dobbs Ferry, Bronx, Manhattan and Yorktown Heights, the vibrancy of the College culture is sustained by a diverse student body from around the region.

Stephen Acunto, Jr. Joins Spencer Educational Foundation Board of Directors

Spencer leadership confirmed the addition of Stephen Acunto, Jr., SVP of Business Development at Business Insurance, to its Board of Directors. The appointment is effective as of January 1, 2020.

A valued member of the media industry, Acunto brings 20 years of diversified experience in business development, brand strategy, and sales to the Foundation. His professional service within the industry includes working with several boards and committees, as well as emerging talent mentoring.

“Throughout his career, Stephen has proven himself as a leader who exemplifies vision, client service, and empowering those around him to achieve,” said Spencer Chairperson Marya Propis. “Spencer leadership is excited to welcome Stephen to its Board of Directors.  With his help and the continued support of Business Insurance 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, Acunto worked at industry-leading firms including Hearst Corporation, World Business Forum (WOBI), Dennis Publishing, and Summit Professional Networks. He also serves as an Advisor to various startups. In addition to his professional roles, he served as Chairman of the Columbus Citizens Foundation Junior Committee and a was a 14-year active volunteer for the Fresh Air Fund.

Spencer Educational Foundation's 'Spencer Day' to Celebrate Spencer Scholars on February 24th

Celebrate #SpencerScholars - and the companies who employ them - on the last Monday of February

The Board of Directors of the Spencer Educational Foundation has pronounced the last Monday of February as Spencer Day. The purpose of this designation is to showcase Spencer scholarship recipients, the companies who hire them, and the myriad ways that Spencer supports industry education.

This announcement follows a significant sustaining gift just received from the FM Global, one of the world’s largest commercial property insurers. FM Global’s generous $650,000 gift is the largest single pledge received in Spencer’s 41-year history, and will enable Spencer to eclipse their 2019 high water mark of giving away close to $1.5M to fund industry education.

Marya Propis, SVP and Director of Distribution & Broker Partnerships at All Risks, Ltd. and Spencer Board Chair, commented, “The mission of Spencer is simple; we are helping to manufacture talent for the entire industry, and as our support grows, our capacity to generate more results increases, too. We are excited to call upon all Spencer Scholars – and the companies who employ them – to stand up today and be acknowledged. We also want to shine a bright spotlight on standout industry partners like FM Global on our Spencer Day.”

What is the Spencer Day call to action? TODAY, via social media, industry professionals are encouraged to promote #SpencerScholars whom they mentored, advised, and assisted, and employers can make clear that they place a value on hiring and supporting #SpencerScholars. Currently, Spencer relies on annual, recurring support from hundreds of donor companies and industry professionals, and is so grateful for these ongoing partnerships. Of course, if you’re a Spencer Scholar – past or present – we want to salute you, too, and encourage you to identify yourself via social media or on our website.

Over 1,000 P&C insurance professionals have benefited from Spencer’s philanthropic efforts since the first three scholarships were granted in 1980. By gathering at annual events such as the Gallagher Spencer Golf event on Sat May 2 and the Spencer & Sedgwick FunRun on Tues May 5 at the RIMS Annual Conference in Denver, as well as the Spencer Gala Dinner on Thurs Sept 17 at the Sheraton Times Square in New York, insurance professionals can support Spencer’s ability to propel careers by removing financial obstacles.

Donate to future #SpencerScholars here.

Spencer Educational Foundation receives $650,000 gift from commercial property insurer FM Global

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