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Mark Stephens, CCSA

Managing Director of Risk Advisory Services
Chicago, IL, US

Tel: +1 312 4995765

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  • BS, Finance, Indiana University
  • Participation in MBA Executive Masters studies at Harvard Business School, Northwestern Kellogg School, Duke Fuqua School of Business, and Butler University
  • CCSA, The Certification in Control Self-Assessment from The Institute of Internal Auditors (IIA)

Current Responsibility

Mark manages the Milliman Risk Advisory Services (RAS) practice group. The practice delivers a portfolio of risk consulting services, such as enterprise risk design, test and build projects, operational risk assessments, enterprise risk management (ERM) education and training, and ERM technology evaluation. The RAS practice uses diagnostic consulting strategies to understand an organization's enterprise risk goals and challenges and then customizes solutions to deliver required business results. Current software solutions include MillimanGRC and the Adaero risk modeling platform.

In addition, Mark is the executive director of the Milliman Risk Institute, which supports enterprise risk management research and development. The Milliman Risk Institute Advisory Board meets on a semi-annual basis and conducts corporate surveys and publishes the results along with expert commentary.


Mark began his career as a risk management consultant for Federated Mutual and later transitioned to managing director for Aon Risk Services. While at Aon, Mark designed and managed Aon Value Exchange, which provided pricing and margin guidance for broker products and services. In addition, Mark managed the Aon Global eSolutions Group, which developed risk analytics software for multinational clients to assist with enterprise risk, claims management, exposure management, and policy management.

Mark served on the management teams for Aon's Enterprise Risk Practice Council, the Financial Institutions Practice Group, and the ARS-US National Service Board. Mark also led national and international "change management" teams for risk software integration and for margin improvement. Finally, Mark was CEO of Aon RiskLabs and led the M&A team for Aon's acquisition of Risk Laboratories and Valley Oak Systems.

In 2007, Mark founded Strategic Risk Partners, where he designed industry-leading best practices for enterprise risk management and operational risk. In addition, he developed a unique online software platform for collaboration around governance, risk and compliance, ERM, and operational risk, which has evolved into the MillimanGRC.

  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman