With a more complex global environment and continuous financial innovation, new and more sophisticated areas of risk have emerged. At the same time, rapid advances in artificial intelligence (AI) and machine learning offer powerful opportunities for private sector firms and financial institutions to enhance their risk management capabilities.
Honoring a Legacy: The Founding and Mission of the Arditti Center
Founded in 2006, the Arditti Center for Risk Management honors the life and legacy of the late Fred Arditti - a distinguished economist, pioneer in the futures industry, and former executive at the Chicago Mercantile Exchange - who also served as a member of DePaul University's finance faculty. The Center promotes the development of the risk management field by bridging the gap between industry and academia. Each year, it hosts seminars, conferences, and educational programs for students, faculty, scholars, and professionals.
The Arditti Center has cultivated deep ties with the Chicago risk management community, supporting innovative initiatives and providing platforms for dialogue between academic and industry leaders. A key objective moving forward is to increase the Center’s visibility and expand outreach efforts, particularly through strengthened collaboration with financial institutions in the Chicago area.
Past Leadership and Institutional Growth
From 2011 to 2019, Professor Carl Luft, emeritus professor in the Department of Finance & Real Estate, led the Arditti Center. Under his leadership, the Center developed strong relationships with the local trading and risk management community. These efforts led to a collaboration with the Chinese Financial Futures Exchange (CFFX) in 2011 and 2012 and laid the groundwork for the launch of the annual DePaul University Cyber Risk Conference in 2014 - a joint effort between the Arditti Center, the College of Law, and the College of Computing and Digital Media. Professor Luft has also served on the board of NIBA and as Chairman of its advisory board.
Dr. Mark Shore served as Executive Director of the Arditti Center from 2021 to 2024. Dr. Shore, a recognized expert on alternative investments with over 30 years of experience in global capital markets, brought valuable industry insights to the Center’s programming and increased its activity and visibility. Before becoming the Center’s Executive Director, he had served on the Center’s board for nine years.
In 2012, he introduced NIBA - where he has also served on the board - to the Arditti Center and has been instrumental in nurturing the relationship ever since. He joined DePaul in 2011, teaching what may have been the country's only accredited course on managed futures. Dr. Shore is an adjunct professor at DePaul University’s Driehaus College of Business and an economist and director at the CME Group, where he is responsible for economic analysis on global financial markets. He is frequently invited to speak at industry and academic conferences.
New Leadership to build on a strong foundation
In May 2025, Dr. Peter Westin assumed leadership of the Arditti Center. Dr. Westin has been affiliated with DePaul University since 2016, teaching in both the Economics and Finance departments. With a more than a 15-year background in equity research based in Russia, he brings a wealth of global financial experience and a deep understanding of risk. His vision is to build upon the Center’s strong foundation and to broaden its reach and impact.
Under Dr. Westin’s leadership, the Arditti Center will focus on deepening partnerships key organizations such as the NIBA and the Global Association of Risk Professionals (GARP). These collaborations will support the development of joint programming, professional certification opportunities, and expanded avenues for knowledge-sharing between students, faculty, and industry practitioners. As part of this effort, and continuing DePaul’s longstanding relationship with NIBA, the Center is pleased to host the NIBA Annual Symposium on July 17. This year’s event will spotlight the “CTA connection,” highlighting the critical role of Commodity Trading Advisors in today’s evolving risk landscape.
The Center also plans to expand its educational initiatives by organizing symposiums, lecture series, and panel discussions on emerging topics in financial risk, AI and risk analytics, and regulatory trends. These events will serve as a forum for cutting-edge dialogue and provide students with exposure to real-world issues and expert perspectives.
Finally, the Arditti Center will develop a robust internship and career placement program for DePaul University students, enabling them to gain hands-on experience in risk management roles. By leveraging the Center’s industry relationships, these opportunities will support students' professional development and prepare them for successful careers in finance, risk management, and related fields.
Preparing Tomorrow’s Risk Leaders, Today
As the landscape of financial risk continues to evolve, the Arditti Center for Risk Management stands at the forefront of innovation, education, and industry engagement. By uniting academic rigor with practical insight, the Center is not only preparing the next generation of risk professionals but also shaping the conversation on how institutions can navigate uncertainty in an increasingly complex world. With renewed vision and expanded ambition, the Arditti Center is poised to become a premier hub for thought leadership in risk management - right in the heart of Chicago’s financial district.
More Information on the Arditti Center for Risk Management at DePaul University
