ON THE JOB
R& I : Who is your mentor and why?
Ellen Thrower, president (retired), The College of Insurance, introduced me to
the importance of insurance as a component of risk management. Further, she
encouraged me to explore strategic and operational risk as foundation topics
shaping the role of the modern risk manager.
Chris Mandel, former president of RIMS and Risk Manager of the Year,
introduced me to the emerging area of enterprise risk management. He helped me
recognize the need to align hazard, strategic, operational and financial risk into a
single framework. He gave me the perspective
of ERM in a high-tech environment, using
USAA as a model program that later won an
excellence award for innovation.
Bob Morrell, founder and former CEO of
Riskonnect, showed me how technology could
be applied to solving serious risk management
and governance problems. He created a
platform that made some of my ideas practical
and extended them into a highly-successful
enterprise that served risk and governance
management needs of major corporations.
R&I : How did you come to work in this industry?
From a background in corporate finance and
commercial banking, I accepted the position
of provost of The College of Insurance.
Recognizing my limited prior knowledge in
the field, I became a student of insurance and
risk management leading to authorship of books on hazard and financial risk.
This led to industry consulting, as well as to the development of graduate-level
courses and concentrations in MBA programs.
R&I : What was your first job?
The provost position was the first job I had in the industry, after serving as dean
of the Seton Hall University School of Business and founding The Princeton
Consulting Group. Earlier positions were in business development with Marine
Transport Lines, consulting in commercial banking and college professorships.
R& I : What have you accomplished that you are proudest of?
Creating a risk management concentration in the MBA program at Saint Peter’s,
co-founding the Russian Risk Management Society (RUSRISK), and writing
“Fundamentals of Enterprise Risk Management” and the “AMA Handbook of
Financial Risk Management.”
A few years ago, I expanded into risk management in higher education. From
2017 into 2018, Rowman and Littlefield published my four books that address
risks facing colleges and universities, professors, students and parents.
R&I : What is your favorite book or movie?
The Godfather. I see it as a story of managing risk, even as the behavior of its
leading characters create risk for others.
R&I : What is your favorite drink?
Jameson’s Irish whiskey. Mixed with a little ice, it is a serious rival for Johnny
Walker Gold scotch and Jack Daniel’s Tennessee whiskey.
R&I : What is the most unusual/interesting place you have ever visited?
Mount Etna, Taormina, and Agrigento, Sicily. I actually supervised an MBA
program in Siracusa and learned about risk from a new perspective.
R&I : What is the riskiest activity you ever engaged in?
Army Airborne training and jumping out of an airplane. Fortunately, I never had
to do it in combat even though I served in Vietnam.
R&I : If the world has a modern hero, who is it
George C. Marshall, one of the most
decorated military leaders in American
history, architect of the economic recovery
program for Europe after World War II, and
recipient of the 1953 Nobel Peace Prize. For
Marshall, it was not just about winning the
war. It was also about winning the peace.
R&I : What about this work do you find the most
fulfilling or rewarding?
Sharing lessons with colleagues and students
by writing, publishing and teaching.
A professor with a knowledge of risk
management does not only share lessons.
The professor is also a student when MBA
candidates talk about the risks they manage
R&I : What is the risk management community doing right?
Sensitizing for-profit, nonprofit and governmental agencies to the exposures
and complexities facing their organizations. Sometimes we focus too much
on strategies that sound good but do not withstand closer examination. Risk
managers help organizations make better decisions.
R&I : What could the risk management community be doing a better job of?
Developing executive training programs to help risk managers assume C-suite
positions in organizations. Insurance may be a good place to start but so is an
MBA degree. The Risk and Insurance Management Society recognizes the
importance of a wide range of risk knowledge. Colleges and universities need to
catch up with RIMS.
R&I : What emerging commercial risk most concerns you?
Cyber risk and its impact on hazard, operational and financial strategies. A
terrorist can take down a building. A cyber-criminal can take down much more.
R&I : What does your family think you do?
My family members think I’m a professor. They do not seem to be too interested
in my views on risk management.
“Sometimes we focus too much on strategies that sound good but
do not withstand closer examination. Risk managers
help organizations make better decisions.”
As a professor of business, Jack Hampton knows firsthand
the positive impact education has on risk managers as
they tackle growing risks.
Professor of Business
Company: Saint Peter’s University
Years in present position: 12
Previous position: Executive
Director, Risk and Insurance
Place of Birth: Jersey City, N.J.
Alma Mater: Stetson University,
The George Washington University
Degrees and certifications: Doctor of Business
Administration, Master of Business Administration