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Randall R. Kendrick Global Supply Chain Institute
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The Peter Arkley Institute for Risk Management educates the next generation of risk management leaders for an increasingly complex and interconnected business environment. A curriculum focused on stimulating critical thinking and sharpening analytical skills equips students to meet the risk challenges of tomorrow.
Born out of a collaboration with the Southern California risk management industry, the Institute emphasizes professional development through internships, mentorships, and networking events.
The Rise of Risk Management
As managing risk has become a core component of business strategy, USC Marshall’s Arkley Institute for Risk Management is introducing a new generation of future business leaders to the field through education, mentorship, and jobs.
PROGRAMS
BS Business Administration with Emphasis in Risk Management (BRSK)
The Bachelor of Science in Business Administration with an emphasis in Risk Management provides students with an understanding of the processes and tools necessary for effective risk management across a variety of industries, including financial services, technology, real estate, healthcare, pharmaceuticals, entertainment, sports, and insurance, to name a few. The degree signals to potential employers that the graduate has acquired skills that are useful in facing the challenges of an increasingly complex and interconnected business environment.
Those students declaring a Minor in Risk Management are able to participate in a mentorship program overseen by the Peter Arkley Institute for Risk Management. The mentorship program pairs students with risk management professionals for the academic year.
Minor in Risk Management
The Minor in Risk Management provides students with fundamental knowledge of risk management - a crucial component of contemporary management, corporate governance, and decision making under uncertain conditions. The required courses provide the foundation of the risk management processes and insurance, the most common form of risk transfer.
The electives provide opportunities to more deeply understand risks and the environment in which they arise as well as specific methodologies of mitigation. The minor is available to students in all schools and departments. Industries currently seeking risk management professionals include entertainment, tech, aviation, hospitality, healthcare, manufacturing, insurance, and many others.
To declare this minor, students must have completed a minimum of 32 units of college-level coursework and have a minimum overall GPA of 2.75.
REAL-WORLD LEARNING
Emerging Leaders Program
The Emerging Leaders Program offers undergraduate students the opportunity to experience an academic and professional development program on USC’s campus in Los Angeles, California followed by a paid internship in the risk management industry at various U.S. locations during the summer. Participating employers from the Advisory Council are committed to creating a diverse and inclusive workplace culture and believe recruiting talent through the Emerging Leaders Program can contribute to achieving this goal.
Nineteen students from the University of Southern California, three Historically Black Colleges and Universities, Howard University, North Carolina A&T State University, and Prairie View A&M University, and a Hispanic-Serving Institution, University of Texas at El Paso, were the inaugural cohort in this program during the summer of 2022.
"Whether you are working in or studying risk management, just know it will always be relevant and invaluable to whatever you do in life. It will never be antiquated and always be necessary."
Michel Abud '19
Internships and Full-Time Opportunities
The Peter Arkley Institute for Risk Management resulted from a collaboration with local risk management firms to prepare students for a professional career within the risk management industry. Internships strengthen this collaboration and provide students insight to the skills needed to succeed in this field and a step towards full-time positions.
Internships provide students with the opportunity to work on challenging assignments, receive training and constructive feedback from industry professionals, build upon their network of professional relationships, and assess their interest in the risk management field.
The Advisory Council, composed of over 40 firms, and a select group of other risk management firms actively recruit students for internships and full-time positions.
Mentorship Program
The Mentorship Program pairs students (mentees) declaring a Minor in Risk Management or an Emphasis in Risk Management with risk management professionals (mentors) for the academic year.
Mentors:- Serve as role models of the upmost character and integrity for the mentees
- Encourage the professional and personal growth of mentees
- Share their knowledge and experience with mentees
- Guide mentees in setting and attaining professional and personal goals
Mentees:
- Strive to grow professionally and personally by listening to mentors’ advice
- Work to attain professional and personal goals with mentors’ guidance
- Accept and incorporate constructive feedback from mentors
- Demonstrate personal and professional respect of others in accordance with SCampus
For questions or inquiries regarding the Mentorship Program, please contact Kristen Jaconi, Executive Director, Peter Arkley Institute for Risk Management, kjaconi@marshall.usc.edu.
INSIGHT + ANALYSIS
Article: Climate Risk Factors Soar at Largest Public Companies
Kristen Jaconi, Associate Professor of the Practice in Accounting, co-authors a piece featuring findings in the December 2022 Deloitte-Arkley Report for the Harvard Law School Forum on Corporate Governance.
Quoted: Kristen Jaconi in The Wall Street Journal
Kristen Jaconi, Associate Professor of the Practice in Accounting, advises for those looking to project recent risks forward in WSJ piece that also cites the most recent Deloitte-Arkley Report. [paywall]
Interview: Kristen Jaconi in The Wall Street Journal
Kristen Jaconi, Associate Professor of the Practice in Accounting, discusses the future of risk management and the role Marshall will play in developing a talent pipeline with WSJ.
Quoted: Kristen Jaconi in Leaders Edge
Kristen Jaconi, Associate Professor of the Practice in Accounting, is quoted by Leaders Edge about the role of satellites in risk management.
Quoted: Kristen Jaconi in Bloomberg Law
Kristen Jaconi, Associate Professor of the Practice in Accounting, speaks to Bloomberg Law about SEC Risk disclosure.
Research + Publications
The level of risk and uncertainty faced by companies over the past few years is unprecedented in the modern era and shows no sign of abating. It is in this unique risk management environment that the Securities and Exchange Commission asked registrants to reconsider their approach to risk factor disclosures in their SEC filings, to enable appropriate and thoughtful analysis by the investment community and other stakeholders. In order to understand the impact of these changes, Deloitte and the Peter Arkley Institute for Risk Management at the USC Marshall School of Business are conducting a series of analyses on the risk factor disclosures filed by the S&P 500 companies.
Deloitte-Arkley Report: December 2022
In the most recent report, issued in December 2022, Climate risk factors soar among largest public companies, Deloitte and the Arkley have reviewed the risk factor disclosures of 439 S&P 500 companies to identify trends during the second year of implementation. Our analysis confirmed our previous two reports that risk factor disclosures were becoming lengthier. The report also analyzed stand-alone climate-related risk factors companies disclosed for the first time this reporting season, noting a significant increase in these disclosures.
Deloitte-Arkley Report: November 2021
In a follow-up report in November 2021, Limited adoption of amended SEC risk factor disclosure rules: ERM and ESG can chart a path for improved compliance, Deloitte and the Arkley Institute reviewed a greater number of S&P 500 companies—439—to understand more comprehensively the impact of the SEC’s revised risk factor disclosure requirements in the first year of implementation. This report confirmed our initial analysis: Risk factor disclosures were becoming lengthier. The report also delved into two specific risk domains highly scrutinized by regulators, investors, and society – climate change and human capital.
Deloitte-Arkley Report: March 2021
In the March 2021 report, Many companies struggle to adopt spirit of amended SEC risk disclosure rules,Deloitte and the Arkley Institute reviewed 88 companies that were the first to implement the SEC’s revised risk factor disclosure requirements. We concluded that risk factor disclosures were becoming lengthier contravening the SEC’s intention in the amended requirements.
NEWS + EVENTS
USC Marshall Announces Transformational Gift from Peter Arkley for Risk Management Program
With the gift from insurance executive Arkley, the USC Marshall School of Business will transform the risk management program into an institute bearing his name and will enhance the program to graduate new leaders in risk management.
Committed to Creating a Diverse and Inclusive Workplace Culture
The Emerging Leaders Program convened 19 undergraduate students from several HBCUs — Howard, North Carolina A&T State, and Prairie View A&M — and the University of Texas at El Paso to learn about risk management field.
(Still) Going Global
USC Marshall hosts the Business International Studies Network annual conference (BisNet) to discuss how schools kept international experiences for students relevant during the pandemic.
A Growing Pathway
STUDENT LIFE
Risk Management Society at USC/Gamma Omicron Chapter
USC students established the Risk Management Society at USC during the fall semester 2018. The purpose of this organization is to explore and promote academic and career issues related to the field of risk management, insurance, and actuarial science, and to help those interested in the industry network outside of the classroom and develop professional skills relevant to the industry.
In November 2019, the student organization was chartered as the Gamma Omicron Chapter of Gamma Iota Sigma.
The Risk Management Society hosts professional developments events, networking sessions, and panel discussions throughout the academic year for interested students. Please EMAIL for questions regarding the Risk Management Society at USC.
The Importance of Risk Management
To be successful, businesses must be able to manage their risks, that is, identify, analyze, mitigate, and communicate their risks. Risk management enables businesses to protect their balance sheets, income, employees, customers, and society from adverse events, such as natural disasters and product failures.
Class of 2021
2019-2020 Year-In-Review
2018-2019 Year-In-Review
ADVISORY COUNCIL
Advisory Board
PresidentJohn P. BarrettExecutive Vice PresidentAon Risk Solutions
Senior Vice PresidentSteve WilderSenior Vice President, Risk ManagementThe Walt Disney Company
Peter ArkleyPresident, Retail Property & CasualtyAlliant Insurance Services, Inc.
Niloo BedroodManaging Director, Risk and Financial AdvisoryDeloitte & Touche, LLP
Travis BethuneSenior Vice PresidentBerkshire Hathaway Specialty Insurance
Betsey L. BrewerPrincipalEPIC Insurance Brokers
John ChinoArea Senior Vice President, Public SectorGallagher
Carl V. DavidsonSenior Vice President, Commercial Insurance – Property & CasualtyChubb Group of Insurance Companies
Chris HouskaManaging Director, President - National CasualtyR-T Specialty Insurance
Diane E. KookenManaging DirectorMarsh & McLennan Companies, Inc.
Vincent J. MonasterskyVice President/Risk ManagerFox Corporation
Lindsay MooreWorldwide Facilities, LLC
Karen SilvermanCorporate Attorney, Legal DepartmentKeenan
Advisory Council
(in alphabetical order)Peter ArkleyPresident, Retail Property & CasualtyAlliant Insurance Services, Inc.
John P. BarrettExecutive Vice PresidentAon Risk Solutions
Niloo BedroodManaging DirectorRisk and Financial AdvisoryDeloitte & Touche, LLP
Kevin S. BogartPresident, Managing PartnerBurnham WGB Insurance Solutions
Alan BoringRegional Director of Business DevelopmentEPIC
Devon BorisoffSenior Underwriter | Commercial DepartmentVice President of Carrier RelationsMonarch E&S Insurance Services
Bito BorovinskyManaging DirectorOffice Head, Global Risk Management Segment LeaderMarsh Risk & Insurance Services
Howard BushSenior Vice PresidentZurich Global Corporate
Nathan CarterManaging Director — Southwest RegionAmerican International Group, Inc. (AIG)
Lisa ChenManaging Director, China Business GroupAon Risk Solutions
Charles ChinVice President, Excess CasualtyNavigators Insurance Company
Ward ChingManaging Director - Western RegionAon Risk Solutions
Robert ClemoManaging PrincipalEPIC
Janet ComenosChief Executive OfficerSpotted
Stephanie ConnerRisk Management ManagerThe Walt Disney Company
Carolyn ConnersHead of Broker Relations, West RegionBeazley Group
Tom CorbettChairman and Chief Executive OfficerAlliant Insurance Services
Brian DavidianExecutive Vice President - CasualtyR-T Specialty Insurance
Carl DavidsonSenior Vice President, Commercial Insurance – Property & CasualtyChubb Group of Insurance Companies
Dalton DeFendisVice PresidentDiBuduo & DeFendis Insurance Brokers
Ross Driscoll Jr.Vice PresidentNational E&S Insurance Brokers, Inc.
Kevin DunhamRegional Sales, Marketing & DistributionEverest Re Group, Ltd.
Gregory W. EconnCo-President & Managing DirectorVenbrook Insurance Services
Jeff EnglishOffice PresidentCRC Insurance Services
Richard FlanaganPresident & Managing DirectorR-T Specialty Insurance
Carole FleischmanChief Executive OfficerPioneer Programs
Kelly GeogheganRegional Vice President – SouthwestStarr Insurance Companies
Brian R. GrayWest Regional PresidentMarkel Specialty
Christy GuziakAssistant Vice President, National Talent EvaluationSouth Bay Search
Michael HeidExecutive Vice President & Managing Director, Specialty GroupAlliant Insurance Services, Inc.
David HellerVice President Enterprise Risk Management and General AuditorEdison International
Teena HostovichPartnerLockton Companies
Ralph HurstPresident, National Brokerage GroupAlliant Insurance Services
Robert JellenManaging Director - EntertainmentHUB
Brad KeenanAccount Vice PresidentKeenan
Robert KimmelPresident and Chief Executive OfficerK2 Insurance Services, LLC
Claudia LinSenior Vice PresidentHUB International
Janice LumChief Operation Officer, WSW RegionAon Risk Insurance Services West, Inc.
Mike MacGillivrayBrokerShaw Moses Mendenhall & Associates
Steven McElhineySenior Vice President and Director of ReinsuranceArtex
Vincent MonasterskyVice President/Risk ManagerFOX Corporation
Davis MooreVice Chairman, BrokerageAmwins
Lindsay MooreVice President/Casualty BrokerAmwins
Janet NasburgVice President, Enterprise RiskSalesforce
Bill OrtgiesenVice President, Regional ExecutiveAllied World Insurance Company
Erin ParkerSenior Underwriter, Commercial Accounts and Private EquityChubb Group of Insurance Companies
Roger PlotkinRisk Consultant
William RobertsGeneral Counsel and Director of Legal AffairsWATG
Chris RosecransVice President, MarketingPhiladelphia Insurance Companies
Eric SiposAssistant Vice President, Commercial Underwriting OfficerCNA, Los Angeles Branch
Nicholas StepinaOperations Senior Vice President, Operations ManagerFM Global
Eric StuckmanAmwins
Jerry SullivanChairmanSullivan Re
Jeffrey C. TerrySenior Vice PresidentHUB International
Charles ToneyVice President, Chief ActuaryMercury Insurance
Timothy W. TurnerChairman and Chief Executive OfficerRT Specialty
Damion WalkerExecutive Vice President, Client AdvocateWillis Towers Watson
Michael WeisenburgerSenior Vice President, Unit Leader (Los Angeles)AXIS Insurance -- US Excess Casualty
Steve WilderSenior Vice President, Risk ManagementThe Walt Disney Company
Peter D. WilliamsGlobal Product Leader, EntertainmentAllianz Global Corporate & Specialty
Lou YeagerManaging DirectorRT Specialty
Trailblazers Council
Ryan MontesChair, Trailblazers CouncilAccount Executive PracticeAon
Jasmine KleinVice Chair, Trailblazers CouncilGlobal Risk Management, Pacific SouthMarsh
J.P. BarrettAssociate BrokerAon
Jasmine BenitezAssociate Client AdvisorMarsh
Alexandra CadarioAdjuster, Los Angeles OperationsFM Global
Paige CarterAssociate BrokerAon
Mark ChenOverseas Project Co-LeaderCheersson
Olivia CoffeyCyber Advisory AnalystDeloitte
Janae GoochGovernance, Risk, and Compliance AssociateKPMG
Austin GuminsInvestment AnalystKosei Advisers
Crystal HerAudit & Assurance AssistantDeloitte
George KailiwaiAssociate, MarineChubb
Jenna KaplanAssociate BrokerAon
Andrew KimSenior ConsultantErnst & Young
Natalie KojababianAssociate UnderwriterAmwins Group
Alex MalikyarTRAC AssociateMarsh
Megan MooreUnderwriter, US Cyber & Tech, Cyber & Executive RiskBeazley Group
Forrest PresslerAssociate UnderwriterBerkshire Hathaway
Ben RonisAssociate BrokerAon
Justin SinghLaw StudentAmerican University Washington College of Law
Andrea Sotelo GasperiLaw StudentUniversity of California at Berkeley Law School
Terra-Lynn TokiwaUS Executive Risk UnderwriterBeazley
Valerie XuStrategic Partnerships AssociateSwiss Re
Luke ZuvichAnalystKing Street Capital Management
Affiliate Advisory Council Members
Association of Insurance Compliance ProfessionalsRona FinkelsteinChief Compliance OfficerChesapeake Employers' Insurance Company
CPCU Society Los Angeles ChapterClark Sheffield, CPCUPresidentCPCU Society Los Angeles ChapterSenior UnderwriterSeneca Insurance Company
Event Safety AllianceJim DigbyPresident and FounderEvent Safety Alliance
Global Association of Risk ProfessionalsLisa S. PontiVice President – Educational OutreachGlobal Association of Risk Professionals
Wholesale & Specialty Insurance AssociationChris TimmermanCareer Development Programs ManagerWholesale & Specialty Insurance Association
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