UNIVERSITY PARK, Pa. – Jared Wise has been named the University’s new chief risk officer. Wise was formerly Penn State’s insurance program manager within the Office of Risk Management, a position he served in since May 2017.
Wise was named to the position in July, following the departure of Bill Raab in June. As chief risk officer, Wise will serve as the president of the Nittany Insurance Company, a captive insurance program and subsidiary of the University, and lead the Enterprise Risk Management Council.
“We’re excited to have a risk professional with Jared’s depth and breadth of risk and insurance experience,” said Sara Thorndike, senior vice president for finance and business/treasurer. “We look forward to his continued contributions and leadership in advancing Penn State’s robust risk management programs.”
As chief risk officer, Wise’s responsibilities include oversight of Penn State and Penn State Health’s programs for insurance and claims management, risk financing and enterprise risk management. His work will aid in promoting methods to identify and avoid exposures that create insurance risks for the University, such as the creation and development of University-wide strategies for collective risks that expose Penn State to financial, strategic, operational and reputational consequences.
“I am humbled to be Penn State’s chief risk officer, and I look forward to serving the Penn State community and working with my colleagues to advance the research, academic and service missions of the University,” Wise said.
Prior to his arrival at Penn State, he worked as a senior multi-line underwriter and as a senior claims and litigation manager for Mutual Benefit Group Insurance where he designed and implemented numerous risk assessment platforms and developed various rating and pricing models.
Wise holds bachelor’s degrees in biology and environmental studies from East Stroudsburg University, along with associate’s certifications in underwriting and claims from the Institutes Knowledge Group.