2016 Risk all Star: David Jewell

Balancing Act

Just months into David Jewell’s tenure as vice president-risk management for Dollar Tree, senior management handed him a mammoth task: Cost-effectively manage the risks of a bulked-up organization that would generate more than twice the revenues through more than two-and-a-half times as many stores and with two-thirds more employees.

David Jewell, vice president-risk management, Dollar Tree

David Jewell, vice president-risk management, Dollar Tree

This titan, North America’s largest discount retailer, would emerge from Dollar Tree’s $9.2 billion acquisition of rival Family Dollar, a deal announced in July 2014 and scheduled to close by that year’s end.

But the merger would be delayed repeatedly as the government scrutinized the market implications and Family Dollar weighed a competing offer.

The delays created a moving target for Jewell as he toiled to synch up the retailers’ competing risk management philosophies to achieve the synergistic savings senior management expected.

Dollar Tree was far more risk averse than Family Dollar, transferring risk to insurers where possible to take advantage of low rates. Conversely, Family Dollar was comfortable assuming high deductibles and self-insuring its workers’ compensation exposure in 18 states.

Based on a mountain of metrics, Jewell recommended a middle-ground approach. “It was a challenge finding the right sweet spot,” he said.

To combine both retailers’ risks into a single insurance program, required partial-year policy extensions in some cases and cancellations in others, since the policy renewal dates did not align.


Jewell accomplished that without guaranteeing insurers how big a role, if any, they would have in the redesigned risk management program.

Despite the merger-closing delays, there was insufficient time to determine whether the insured or self-insured workers’ comp approach would be more cost-effective. Jewell and his broker persuaded an insurer to both cover the insured risks and underwrite the excess coverage for the self-insured risks.

When the deal closed in early July 2015, the cost savings were nine times greater than senior management’s target.

That was “an extreme challenge,” Jewell said, because the organization would have insured and self-insured workers’ comp risk in many states.

Another challenge was lining up sufficient cyber risk coverage at a time when high-profile breaches at large retailers were making headlines.

When the deal closed in early July 2015, the cost savings were nine times greater than senior management’s target, according to Jewell.

“We blew it away.”

Referring to the obstacles the risk management team encountered, Lynn Jekkals, resident managing director for Aon in Grand Rapids, Mich., observed: “Dave had to keep them engaged and keep their eye on the prize.”

Stephen Hackenburg, Aon’s New York-based chief broking officer, national casualty, attributed Jewell’s success to his decisiveness as well as his unique ability to both push for synergies and treat people fairly. &


AllStars2016v1oRisk All Stars stand out from their peers by overcoming challenges through exceptional problem solving, creativity, perseverance and passion.

See the complete list of 2016 Risk All Stars.

More from Risk & Insurance

More from Risk & Insurance

Risk Management

The Profession

Pinnacle Entertainment’s VP of enterprise risk management says he’s inspired by Disney’s approach to risk management.
By: | November 1, 2017 • 4 min read

R&I: What was your first job?

Bus boy at a fine dining restaurant.

R&I: How did you come to work in this industry?

I sent a résumé to Harrah’s Entertainment on a whim. It took over 30 hours of interviewing to get that job, but it was well worth it.

R&I: If the world has a modern hero, who is it and why?


The Chinese citizen (never positively identified) who stood in front of a column of tanks in Tiananmen Square on June 5, 1989. That kind of courage is undeniable, and that image is unforgettable. I hope we can all be that passionate about something at least once in our lives.

R&I: What emerging commercial risk most concerns you?

Cyber risk, but more narrowly, cyber-extortion. I think state sponsored bad actors are getting more and more sophisticated, and the risk is that they find a way to control entire systems.

R&I: What is the riskiest activity you ever engaged in?

Training and breaking horses. When I was in high school, I worked on a lot of farms. I did everything from building fences to putting up hay. It was during this time that I found I had a knack for horses. They would tolerate me getting real close, so it was natural I started working more and more with them.

Eventually, I was putting a saddle on a few and before I knew it I was in that saddle riding a horse that had never been ridden before.

I admit I had some nervous moments, but I was never thrown off. It taught me that developing genuine trust early is very important and is needed by all involved. Nothing of any real value happens without it.

R&I: What about this work do you find the most fulfilling or rewarding?


Setting very aggressive goals and then meeting and exceeding those goals with a team. Sharing team victories is the ultimate reward.

R&I: What is the most unusual/interesting place you have ever visited?

Disney World. The sheer size of the place is awe inspiring. And everything works like a finely tuned clock.

There is a reason that hospitality companies send their people there to be trained on guest service. Disney World does it better than anyone else.

As a hospitality executive, I always learn something new whenever I am there.

James Cunningham, vice president, enterprise risk management, Pinnacle Entertainment, Inc.

The risks that Disney World faces are very similar to mine — on a much larger scale. They are complex and across the board. From liability for the millions of people they host as their guests each year, to the physical location of the park, to their vendor partnerships; their approach to risk management has been and continues to be innovative and a model that I learn from and I think there are lessons there for everybody.

R&I: What is the risk management community doing right?

We are doing a much better job of getting involved in a meaningful way in our daily operations and demonstrating genuine value to our organizations.

R&I: What could the risk management community be doing a better job of?

Educating and promoting the career with young people.

R&I: What have you accomplished that you are proudest of?

Being able to tell the Pinnacle story. It’s a great one and it wasn’t being told. I believe that the insurance markets now understand who we are and what we stand for.

R&I: Who is your mentor and why?


John Matthews, who is now retired, formerly with Aon and Caesar’s Palace. John is an exceptional leader who demonstrated the value of putting a top-shelf team together and then letting them do their best work. I model my management style after him.

R&I: What is your favorite book or movie?

I read mostly biographies and autobiographies. I like to read how successful people became successful by overcoming their own obstacles. Jay Leno, Jack Welch, Bill Harrah, etc. I also enjoyed the book and movie “Money Ball.”

R&I: What is your favorite drink?

Ice water when it’s hot, coffee when it’s cold, and an adult beverage when it’s called for.

R&I: What does your family think you do?

In my family, I’m the “Safety Geek.”

R&I:  What’s your favorite restaurant?

Vegas is a world-class restaurant town. No matter what you are hungry for, you can find it here. I have a few favorites that are my “go-to’s,” depending on the mood and who I am with.

If you’re in town, you should try to have at least one meal off the strip. For that, I would suggest you get reservations (you’ll need them) at Herbs and Rye. It’s a great little restaurant that is always lively. The food is tremendous, and the service is always on point. They make hand-crafted cocktails that are amazing.

My favorite Mexican restaurant is Lindo Michoacan. There are three in town, and I prefer the one in Henderson as it has the best view of the valley. For seafood, you can never go wrong with Joe’s in Caesar’s Palace.

Katie Dwyer is an associate editor at Risk & Insurance®. She can be reached at [email protected]