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The Risk & Insurance Management Society Inc. has named Luke Figora as its 2019 Risk Manager of the Year, and David Stills has been inducted into the 2019 Risk Management Honor Roll.
Mr. Figora is the senior associate vice president and chief risk and compliance officer at Northwestern University in Evanston, Illinois, which has about 33,000 students, faculty and staff and generates about $2.5 billion in annual revenue.
“Building a strong risk management program demands a blended approach that effectively addresses exposures while also supporting new, value-generating initiatives,” RIMS CEO Mary Roth said Thursday in a statement. “Luke Figora masterfully captures this focus at Northwestern University. His accomplishments have resulted in tremendous cost-savings and have paved the way for many wonderful educational opportunities for its students.”
Mr. Figora oversees risk governance operations and is responsible for the university’s enterprise risk management program. His risk management team participated in the formation of the Northwestern Prison Education Program at a local correctional facility, collaborated with athletic department leadership to ensure the safety of student athletes and continues to rebuild the university’s compliance program. His stewardship of Northwestern’s captive insurance program solved a grant-related issue and saved the university close to $1 million, according to the statement.
Mr. Stills, the vice president of global risk management for Bentonville, Arkansas-based Walmart Inc., “has embraced the evolving, more strategic role expected of today’s risk professional,” Ms. Roth said.
He leads a team of more than 550 risk management and risk finance professionals and is responsible for global property insurance, global management liability insurance, global casualty and excess casualty insurance and global cyber insurance, among other programs, as well as global insurance and casualty claims and Walmart’s captive.
The Walmart risk management team implemented processes for instant closed-circuit television access in its stores and clubs, case manager scorecards to identify and track best practices, and a mobile app for more efficient accident intake, among other initiatives, which has led to more than $6 million in annual claims administration cost savings.
Both men will be recognized at the RIMS annual conference on April 28 in Boston.
The Risk Manager of the Year program was initiated in 1977, and the Risk Management Honor Roll was added in 1981.
PHILADELPHIA The Risk & Insurance Management Society Inc. bestowed several awards during a Monday luncheon at its annual conference in Philadelphia, including the Harry and Dorothy Goodell Award.