University welcomes new director of risk management and insurance programs
Rebecca Folmar is joining Virginia Tech as director of risk management and insurance programs within the Division of Finance.
Folmar will be responsible for the development, implementation, and ongoing administration of all insurance-related budgets, contracts, bids, requests, forecasting, negotiations, policies, and programs.
Folmar’s role encompasses taking actions on losses and damage to university property or injured persons, managing documentation for recovery from extensive disasters, administering the university’s student health insurance and athletic injury programs, and educating the university community about potential risk and risk mitigation methods.
She will also serve as university liaison with the Commonwealth of Virginia Division of Risk Management and participate in various university governance and committee activities.
Folmar begins Feb. 1 and will report to Melinda West, associate vice president for finance and university controller.
“I am excited for the opportunity to be a part of Hokie Nation and to support the university’s mission of service, learning, and innovation,” said Folmar. “It is a particular honor to continue the legacy of quality risk management and dedication that Ellen Douglas, her team, and the Division of Finance have worked so hard to build.”
Most recently, Folmar served as director of risk management at Southern Methodist University, where she managed the university’s full insurance portfolio and oversaw risk management activities that included implementing a new information system, managing budgets, developing and leading training sessions, reviewing contracts, and serving in governance capacities. She previously worked in a risk management role with Planet Fitness Inc. before beginning her career in higher education.
“Rebecca brings an exceptional set of skills in the fields of risk management and insurance,” West said. “Her experience engaging stakeholders to identify traditional and innovative risk management strategies will benefit the university in its operations and endeavors across the state, nation, and globe. We are pleased to welcome her to the team.”
Folmar will work with Douglas as she integrates into the role. Douglas – who has served the university in risk management since 1999 – will transition into an advisory role until a planned retirement later this year, capping a 35-year career of university service.
“I look forward to working alongside Rebecca in this critical role to continue providing trusted and impactful service to our university partners,” said Ken Miller, vice president for finance. “Ellen will be an invaluable resource during this transition period. Her steady leadership has been instrumental in helping Virginia Tech navigate a time of unprecedented challenges and uncertainty, and I appreciate the dedication to outstanding customer service she has brought to our risk management program.”