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Risk and Uncertainty Management Center

Working to Improve Decision Making Under Uncertainty

Quote from Stephen Hawking:

“Over the centuries, mathematicians have helped the human race to achieve great insight into nature, such as the realization that:

  • The same force that causes an apple to fall here on earth is also responsible for the motions of the heavenly bodies
  • Space is finite and not eternal
  • Space and time are intertwined and warped by matter and energy, and

the future can only be determined probabilistically.”

RUM Point of View

  • Decision making under uncertainty can be improved with:
  • Frameworks/ tools/ data analysis/ probabilistic thinking
  • Awareness of behavioral biases and common errors committed by individuals and organizations
  • Better incentives and leadership                
  • Multi-Disciplinary, Enterprise-Wide Perspective
  • Recognition that Opportunity Accompanies Risk

Main Objectives

  • Enhance the educational programs at the Moore School, specifically the Risk Management and Insurance major and minor
  • Facilitate interaction between the university and practitioners on issues related to risk and uncertainty
  • Support research on risk and uncertainty

Advisory Board

  • Brian MacLean, President, Travelers, Hartford
  • Jimmy Lenz, Chief Risk officer, Wells Fargo, St. Louis
  • Tim Amerson, CEO, AgFirst Farm Credit Bank, Columbia    
  • Ed Littleton, VP Risk, Balfour Beatty Construction, Dallas
  • Carlos Mickan, CFO, Pan American Life Insurance Group, New Orleans
  • Dave Komendat, Chief Security Officer, Boeing, Seattle
  • Chuck Timmons, retired CEO, Canal Insurance, Greenville
  • Jed Suddeth, partner, Neace Lukens, Charleston
  • Marlyss Gage, SVP Underwriting, Travelers, Hartford
  • Bob Hayes, director, Security Executive Council, Atlanta
  • Terrance Williams, President, Nationwide
  • Matthew Johnson, Principal, KPMG
  • Francis D’Addario, former Chief Security Officer, Starbucks, Seattle
  • Heather O’Brien, former President, Security Forces Inc.

Faculty:

  • Peter Brews, Dean  
  • George Krempley, Finance
  • Greg Niehaus, Finance

Major Gift

The RUM Center thanks Brian and Kathy MacLean for their $1 million endowment gift.

The earnings from the gift will be used to:

  • Enhance opportunities for students to attend conferences
  • Increase outreach activities
  • Bring outside speakers to campus
  • Support research
  • Support RUM Center leadership

Collaboration with External Entities

  • Security Executive Council
  • CSO for Boeing, executive in residence
  • Wrote case study on Boeing’s use of metrics
  • SC Captive Insurance Association
  • Sponsor two SCCIA Scholars each year
  • Collaborated on two conferences
  • iTs|SC
  • Member of workforce development committee
  • Collaborate on networking events
  • SC Department of Insurance
  • Co-op program & internship program

Links

Faculty Research
RMI Major
RMI Minor
Gamma Iota Sigma
News