FOR IMMEDIATE RELEASE
New Center of Excellence to Focus on Risk Management and Corporate Governance
CHICAGO, Feb. 2, 2006 Loyola University Chicago’s School of Business Administration (SBA) announced plans today to create a Center of Excellence in Integrated Risk Management and Corporate Governance, a partnership with the University’s School of Law.
With its holistic and interdisciplinary approach, the Center will be the first of its kind in the U.S., and will integrate a variety of core competencies, including: economics, finance, information systems, law, ethics, philosophy, psychology, environmental science and leadership. Promoting research, teaching and outreach activities both nationally and internationally, the Center’s activities will lead to the creation of a knowledgeable and effective workforce capable of addressing the increasing complexities and uncertainties that organizations face today, ultimately building a stronger, more ethical and healthier society.
“Companies that fail to implement good risk management and corporate governance policies often fail,” says Dr. Abol Jalilvand, dean of Loyola’s School of Business Administration. “Our Center integrates these two subject areas because they are natural complementary activities. By combining the two, we cover a broad spectrum of business issues and distinguish our Center from others that focus entirely on risk or governance.”
Located on Loyola’s Water Tower Campus, the Center will be positioned in the heart of Chicago’s financial center, close to the city’s most revered multi-national corporations. The Center will bring national and international recognition to Loyola University Chicago and its participating schools, and through research projects, workshops, seminars, degree programs and executive education courses, the Center will quickly become an invaluable resource for scholars, government agencies, public- and privately-held businesses, CEOs, CFOs, accountants, lawyers, regulators, legislators and a host of other policy makers worldwide.
Housed within the University’s SBA, the Center will focus on initiating and disseminating research on risk management and corporate governance and developing courses and programs for undergraduate, graduate and professional students. The Center will promote both descriptive and prescriptive research, with the former focusing on how individuals and organizations make decisions to manage risk, and the latter promoting best practices. Center participants will also develop courses in risk management and corporate governance for existing and new degree programs within the University.
“The interdisciplinary approach is a critical strength of this new Center,” says Dr. John Frendreis, vice provost, Loyola University Chicago. “We live in a world that is constantly evolving, and the need to educate people on a global, interdisciplinary level becomes more and more vital each day.”
The University intends to hire a managing director for the Center, and that search is already underway. In addition to the director position, a board of directors comprising distinguished Loyola alumni, as well as industry leaders in the fields of finance, law, ethics, public policy and business will be established.
“Given the recent scandals and governmental responses they have led to, focusing on corporate governance has never been more important,” says David Yellen, dean of Loyola’s School of Law. “This new Center will offer solutions, and the interdisciplinary approach to these solutions will be most valuable. On behalf of the Law School, I applaud Dean Jalilvand and his faculty for creating this Center, and allowing us to collaborate on this unique project.”
About Loyola University Chicago
Committed to preparing people to lead extraordinary lives, Loyola University Chicago was founded in 1870 and is among the largest of the 28 Jesuit colleges and universities in the United States. Loyola has a total enrollment of more than 14,000 students, which includes 9,000 undergraduates, hailing from all 50 states, as well as 82 foreign countries. The University has four campuses, three in the greater Chicago area and one in Rome, Italy. Loyola’s nine schools and colleges include: arts and sciences, business administration, education, graduate studies, law, medicine, nursing, professional studies and social work. Loyola offers 66 undergraduate majors, 59 master’s degrees, 36 doctoral degrees and 3 professional degree programs. Recognizing Loyola’s excellence in education, U.S. News and World Report has ranked Loyola consistently among the “top national universities” and “best values” in its annual publications. For more information, please visit our web site at www.luc.edu.