Finance, Risk & Insurance, and Economics Faculty & Staff
Department Chair
Dr. Bryan Foltice is an Associate Professor of Finance at Butler University, in Indianapolis, IN. He primarily teaches in the areas of international finance, investments, and behavioral finance. Dr. Foltice’s true passion is assisting people with all aspects of their personal finances. His academic research interests behavioral finance include: Retirement savings, retirement plan designs, and financial decision-making. Dr. Foltice received his doctorate in finance at the University of Muenster, in Muenster, Germany, where he received magna cum laude honors. He has prior work experience at Fidelity Investments and in investment banking at Deutsche Bank. Dr. Foltice also played professional basketball in Germany for three seasons.
Faculty
Dr. Bross primarily teachers our principles of economics courses, and is the faculty advisor for the Economics Club. She is currently in her fourth year of teaching here at Butler. Before Butler, she worked for the State of Indiana’s Legislative Services Agency conducting economic research to help policymakers. She also spent time working for the Education Research Alliance of New Orleans where she evaluated the impacts of school restructuring on student performance.
Dr. Kuhelika De joined the Lacy School of Business as an Associate Professor of Economics, effective August 2023. Dr. De holds a Bachelor of Economics from the University of Delhi (India); a Master of Economics from the University of Manchester (UK); and a Ph.D. in Economics from the University of Georgia (US). Dr. De is an applied macroeconomist, and her primary teaching and research interests include monetary economics, international finance, and time series econometrics. Her research has been published in peer-reviewed outlets such as Economic Inquiry, Economic Modelling, Southern Economic Journal, Journal of International Money and Finance, Reserve Bank of India and The Journal of Development Studies. She currently serves as the Associate Editor of Economic Analysis and Policy. She is a member of the American Economic Association (AEA), Southern Economic Association (SEA), Committee on the Status of Women in the Economics Profession (CSWEP), and the Midwest Macroeconomics Association. She has also served as an ad hoc reviewer for the Macroeconomics and Inequality Review Committee at the Washington Center for Equitable Growth, as well as several economics journals.
Dr. Steven D. Dolvin, CFA, is a Professor of Finance at Butler University. He teaches primarily in the area of investments, but he also oversees student run portfolios in both public and private equity. Dr. Dolvin has received multiple teaching awards and has also published numerous articles in both academic and practitioner outlets. He is also the co-author of Fundamentals of Investments (McGraw-Hill). Dr. Dolvin’s prior experience includes work in both corporate finance and investments, and he currently provides investment consulting for both individuals and businesses.
Professor Faulconer launched his career as an attorney and adjunct professor of business law, eventually finding a passion for training and teaching. He has earned several professional financial designations including the "gold standards" CFP(r) and CPCU, as well as the Chartered Advisor for Senior Living (CASL), Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) from The American College. Much of his professional career was spent at Indiana Farm Bureau Insurance serving in roles as Advanced Sales Counsel, Director or Agency Training, and Senior Vice President of Marketing and Chief Marketing Officer where he was responsible for the largest division in the company, just under 1,000 employees and all sales and marketing activities.
Professor Faulconer, in addition to teaching in the Risk Management and Insurance program at Butler University is active in the financial and insurance communities as the owner and operator of Transitions Financial LLC, a full service financial planning and investment management firm, and Re:Form School LLC, a company that creates and distributes online insurance training.
He has authored three books, most recently co-authoring the Life and Health Insurance Fundamentals textbook published by the National Institutes for Insurance Education and Research.
Professor Faulconer also provides consulting services through Butler University’s Office of Professional Services.
Tom Hanson primarily teaches courses in corporate finance, investments, and valuation. He also teaches classes in the Masters of Science in Risk and Insurance (MSRI) and Data Analytics programs (MSDA). Additionally, he is the faculty advisor to the Financial Management Association (FMA) chapter on campus, which has been recognized by the national organization as a Superior Chapter. He completed his PhD at Kent State University, an MBA at the University of St. Thomas, an MS in applied statistics at North Dakota State University, and a BA at St. Olaf College. Prior to starting at Butler in fall 2018, he taught at Minnesota State University Moorhead and Cleveland State University. His research interests include market microstructure, high frequency trading, and quantitative methodology. He often publishes cross-disciplinary, co-authored work,including the book Quantitative Research Methods in Translation and Interpreting Studies (Routledge) with Dr. Christopher Mellinger.
Dr. Ronia Hawash is an Associate Professor of Economics in the Lacy School of Business. Dr. Hawash holds a B.A. in Economics from Cairo University (Egypt); an M.A. in Economics from the American University in Cairo (Egypt); and a Ph.D. in Economics from Indiana University (Indianapolis). Her primary teaching areas are Microeconomics, Economic Development, Health Economics, and Econometrics. Dr. Hawash’s main areas of research are focused on socioeconomic problems in developing countries including poverty, inequality, poor health and education outcomes, political conflict and refugees, and climate change. Her research has been published in Applied Economics, Journal of Social Entrepreneurship, International Journal of Happiness and Development, Journal of Higher Education Theory and Practice, Eurasian Economic Review, International Journal of Development and Conflict, Social Business, and Journal of the Knowledge Economy.
Tom Karbowski has a deep knowledge of business and a successful track record teaching a wide range of business classes to undergraduate and graduate students. He was an Economics and Communications double major at DePauw University, received his MBA from Butler University, and has taught over 120 courses during his teaching career. He has experience teaching Economics, Statistics, Marketing, Sales, Finance, and Organizational Development – that broad experience allows him to connect multiple business disciplines into all his courses. In addition, his 30-year business career allows him to incorporate "real life" experience into the classroom. His most recent courses at Butler include Principles of Microeconomics, Principles of Macroeconomics, Business Statistics, Introduction to Marketing, Marketing and Value Creation, and Sales & Sales Management.
Dr. Marshall is a Lecturer in Finance. He has taught courses such as Corporate Finance, Financial Management, Working Capital Management, and Financial Statement Analysis.
He holds a Ph.D. in Finance at the University of South Florida and Ph.D. in mathematics from Florida Atlantic University. He also has graduate degrees in statistics supply chain management from the University of South Florida and the University of Texas at Dallas respectively. His academic research includes ESG, supply chain, the effects of corporate law on firms, and the effects of shareholder composition. He has published his work in the European Journal of Operational Research and has presented his recent work at conferences such as the Financial Management Association annual conference.
Dr. Marshall is a chess expert and enjoys playing in tournaments when time permits.
Kathy is currently a Professor of Economics at Butler University and holds the Clarence W. Efroymson Chair of Economics. She has served as the Associate Dean for Research and Graduate Studies for the Lacy School of Business, managing all aspects of the MBA and MPA programs including admissions, advising, and curriculum development. She has championed “Real Life, Real Business” initiatives at the graduate level, including the Gateway Experience, the Integrated Capstone Experience, the Board Fellows Program, and international study trips.
Kathy has published articles on a variety of topics, such as workplace incentives, product innovation, key performance indicators, and economic resilience. Her cross-disciplinary research has allowed her to work with academics from accounting, business law, marketing, operations management, and organizational behavior. Her work has appeared in outlets such as Managerial and Decision Economics, Management Science, Journal of Economics and Management Strategy, Journal of Labor Economics, Journal of Regional Analysis & Policy, Journal of Environmental Economics and Policy, Management Accounting Quarterly, and Studies in Higher Education.
Kathy’s academic credentials include a Bachelor Degree in Economics from Emory University and both a Masters and Ph.D. in Economics from Purdue University. She has over 30 years of teaching experience at both the undergraduate and graduate levels, serving on the faculty at the State University of New York at Stony Brook and Butler University.
John Pemberton joined the faculty of Butler University in the Fall of 2017 as a Lecturer of Statistics and Economics. Prior to coming to Butler, John completed BA and MA degrees in Economics from Indiana University – Indianapolis. Upon graduation, John pursued a 20 year career in marketing sciences for companies that have since been acquired by the Kantar group.
During this time, John was a thought leader concerning the direction and content of survey based research. In 2010 he was recognized by the Advertising Research Foundation during their Great Minds Awards Forum as a Finalist for the Innovation Award. He has spoken at industry based conferences such as the American Marketing Association: Advanced Research Techniques Forum; The IRI Marketing Research Conference; The IRI Shopper Insights in Action Conference, The Sawtooth Software Conference and the Advertising Research Foundation – Re:Think Conference. John maintains a select group of consulting clients in marketing research to this day.
John began tutoring and then teaching statistics as a graduate student. During his professional career he continued teaching statistics and economics as an adjunct at Indiana University – Indianapolis, IUPUC and Rose Hulman Institute of Technology. As he stepped away from his Marketing Research career returning to teach at Indiana University –Indianapolis and then Butler University became a natural transition and fit.
At Butler John teaches the introductory statistics class for undergraduate business students, a hybrid Quantitative methods course (featuring both stats and microeconomics) within the Master’s in Management program and on occasion teaches a special topics course covering survey based choice models for consumer decision making. He maintains a research agenda that focuses on the methodology and techniques used in survey-based research.
Away from Butler he tends a mini-farm noted for producing pumpkins, melons and in class anecdotes concerning the use of various statistical techniques. John is also an avid photographer and founder of a niche publisher, f2.8 Press, which focuses on presenting work by enthusiast and student photographers.
Dr. Victor Puleo is the Davey Chair of Risk Management and Insurance in the Lacy School of Business at Butler University, in Indianapolis, Indiana. He earned a Doctorate degree in Risk Management and Insurance at Florida State University. Dr. Puleo has articles published in the Journal of Risk Education, Journal of Insurance Issues, Risk Management and Insurance Review, Managerial Finance, and Best’s Review. In 2022, he co-authored his first textbook titled Insurance Fundamentals of Life & Health Insurance, Including Advanced Planning Techniques.
The Davey Risk Management and Insurance Program at Butler University offers a traditional in-residence Undergraduate degree in Risk Management and Insurance (RMI) and an online Master of Science in Risk and Insurance (MSRI). The online MSRI graduate degree program was ranked No. 33 in the nation in 2023, according to rankings published by US News and World Report. Dr. Puleo serves as the Academic Director of the MSRI program. He teaches undergraduate RMI and graduate MSRI courses in the Lacy School of Business. Undergraduate RMI students are enrolled in the industry-recognized University Associate Certified Insurance Counselor (UACIC) college-level designation from The National Alliance. The UACIC designation is for students interested in becoming insurance agency owners, producers, agents, brokers, and insurance company personnel. This college-level designation was created to recognize new professionals for their diligent study and give them a distinct credential to use as they enter the insurance and risk management workforce. Graduate students in the MSRI are enrolled in the industry-recognized University Associate Certified Risk Manager (UACRM) designation from The National Alliance. The UACRM designation is for students interested in Risk Management who want a broad understanding of risks and the many ways to identify, analyze, control, finance, and administer them.
Dr. Puleo is the faculty advisor for the Beta Lambda Chapter of Gamma Iota Sigma – an international professional fraternity organized to promote, encourage and sustain student interest in insurance, risk management and actuarial science as professions. He serves as a member of the Professional Standards Committee (PSC) in the Lacy School of Business.
Dr. Puleo is a Certified Insurance Counselor (CIC), Certified Financial Planner (CFP®) certificant, and earned the Certificate in Captive Insurance (CCI) from the International Center for Captive Insurance Education (ICCIE). He is a Graduate of the Experiential Education Academy (EEA) offered through The Society of Experiential Education. Dr. Puleo is an Educational Consultant (since 1994) and National Faculty Member (since 2008) for the Society of Certified Insurance Counselors. He served as a member of the Board of Directors (2016 – 2021) and Chair (2020-2021) of The National Alliance Research Academy which serves as the research and development branch of The National Alliance for Insurance Education & Research. Dr. Puleo currently serves as a member of the Board of the Indiana Chapter of the National African American Insurance Association (NAAIA).
Professor Rieber currently teaches courses in international economics, intermediate macroeconomics, and principles of economics. Among other courses, he previously offered sections in managerial economics, international business, and Revolutionary Europe & Colonial Nigeria. He taught a course in International Economics to Butler University students at the American College of Thessaloniki in Greece in Summer, 2011. His current research interests are international economics and history of economic thought. Before coming to Butler University in 1989, he was a visiting fellow at the National University of Singapore. He has served in various administrative capacities at Butler University, including department chair and graduate program director.
Born on the Caribbean island of St. Lucia, Dr. Sheryl-Ann K. Stephen is a Full Professor of Finance in the Lacy School of Business. Dr. Stephen holds a Bachelor of Commerce degree in Finance and Economics from the Sobey School of Business at Saint Mary’s University (SMU) in Nova Scotia, Canada; an MBA, also from SMU; and a Ph.D. in Finance from the University of Texas at Arlington. Her primary teaching areas are Corporate Finance, Financial Management, and Financial Markets and Institutions. Dr. Stephen’s main areas of research are Corporate Finance,Corporate Governance, Corporate Social Responsibility, and Financial Education. Her research has been published in the Research in International Business and Finance, Journal of Applied Business and Economics, the Journal of Accounting and Finance, the Journal of Financial Education, and the Journal of Learning in Higher Education, among others. When she’s not teaching, or doing research, she can be found learning new languages, and traveling the world.
Dr. Templeton is Professor of Finance at the Lacy School of Business at Butler University where he has taught since 1988. In 2000, he was a visiting professor at Auckland University of Technology in New Zealand. He has presented his research at national conferences in the U.S. and also in New Zealand, Albania, Finland, Spain and Ireland. He has published research on bank diversification, the impact of the euro as a new currency, strategies for retirement investing, mortgage selection, financial education, and international education.
Dr. Templeton, a recipient of the Mortar Board and Beta Gamma Sigma Outstanding Professor awards at Butler, primarily has taught corporate finance, investments, financial theory and cases, and risk and insurance. For over a decade he coordinated and taught in the Internship program, a signature program of the school. In addition, each May he leads a three-week study trip to London. The course explores aspects of leadership and leadership development using the history and culture of London as context. He has taught in Butler’s executive education programs for physicians and for Farm Bureau Insurance of Indiana. He has consulted on retirement plans and delivered retirement seminars for employees of the law firm, Bose McKinney. For nine years he delivered a series of personal financial management workshops for rookie players of the Indianapolis Colts of the NFL.
Administratively, Dr. Templeton contributed to the development of the Lacy School’s experiential programs that emphasize the development of students both personally and professionally. He has led the development of the global education programs of the School which provide opportunities for Lacy students around the world.
Professor Wottring has spent his entire professional career in the insurance industry. He spent 33 years at Indiana Farm Bureau Insurance holding several positions including Agent, Agency Development Specialist, Agency Manager, District Sales Director, and Manager of Life Insurance training. Three particular highlights of his Indiana Farm Bureau Insurance career include being a two-time Agency Governor, elected into the Indiana Farm Bureau Insurance “Hall of Fame,” and having both his boys in the insurance business. He has earned several professional financial designations including Chartered Life Underwriter (CLU) Chartered Financial Consultant (ChFC) from The American College as well as the Chartered Advisor for Senior Living (CASL), and the Charted Leadership Fellow (CLF). Professor Wottring’s daughter is a Butler graduate.
Along with teaching in the Risk Management and Insurance program at Butler University, Professor Wottring is the owner of “The Wottring Agency”- Allstate Insurance in Fishers.
Professor Wottring is a graduate of Grace College where he earned his Bachelor of Science as well as his MBA.
He and his wife Stephanie reside in Noblesville. They have 3 children and two grandchildren.