HMC Business Consulting, LLC

Herbert M. Chain, MBA, CPA

Independent Director, Audit Committee Chair, SOX Financial Expert, Accounting and Auditing Professional, Professor,  Consultant

Sound advice based on experience



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Insurance Nerds Podcast

Posted on July 9, 2020 at 4:00 PM

Here's a link to a podcast I did with Nick Lamparelli of Insurance Nerds about "Next Gen Analytics & The Internet of Things: Powering Insurtech" - a conference we were sponsoring at the Tobin Center for Executive Education ( - a division of The Peter J. Tobin College of Business of St. John's University.

Connect with me on LinkedIn at to learn about other events...

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Expanding my professional reach...

Posted on May 8, 2017 at 8:15 AM

I am proud to broaden my "encore career" scope - and to continue to give back to the profession and industry that has been so good to me throughout my first career with Deloitte. This new role enables me to combine my industry experience (content) with the knowledge I have gained as professor (educational process/pedagogy).

I am now the Director of Education for the Investment Management Due Diligence Association (IMDDA), a 501(c)3 organi...

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A Personal (and Professional) Message of Thanks in this Season of Gratitude

Posted on November 25, 2015 at 10:35 AM

I pondered whether or not to contribute yet another cliché-ridden note of thanks to the many posts, blogs and messages to that effect during this time of year. However, I realized that I truly am grateful for many things during this season of gratitude: my family, my friends, my colleagues, and the professional experience that Deloitte provided me for 38 years and needed to share my thoughts.

This is my first holiday season as a R...

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Professional Teaming Is a Good Thing -- For the Professional and the Client

Posted on November 17, 2015 at 1:50 PM

During my 38-year career at Deloitte, it was always comforting to know that I was never professionally on my own. Whether I needed advice and/or a consultation on technical or auditing matters, or a subject matter expert to assist me in hashing out (and sometimes identifying) issues, I knew that someone had the experien...

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Sending boards back to school? The effects of professors in the boardroom.

Posted on November 14, 2015 at 5:40 PM Comments comments (134464)

Richard Leblanc of Boards & Advisors found and posted an academic article on LinkedIn, “Professors in the Boardroom and Their Impact on Corporate Governance and Firm Performance,” by Bill Francis, Iftekhar Hasan and Qiang Wu (

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For some, today was (literally) a marathon, not a sprint

Posted on November 1, 2015 at 6:45 PM Comments comments (41852)

Watching 50,000+ runners at the start of today’s New York City Marathon, it struck me how many times I (and probably many others) use the expression, “life is a marathon, not a sprint.” In most cases we use it in a temporal sense. We are cautioning someone (usually younger than we) to focus on longer-term goals rather than just short-term ones.


As is the case with most clichés, there is truth to that philosophy. There are often tradeoffs between achie...

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An exciting time - the Launch of my Firm

Posted on September 22, 2015 at 9:30 AM Comments comments (56499)

With great pride, I am pleased to announce the official formation of HMC Business Consulting, LLC.  Building on the experience I have gained from my 38 years at Deloitte, I now have my own firm to serve clients - old and new.  This is the vehicle for the services I will be providing relating to financial accounting and rep...

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My first blog entry - Reflections on the birthday of a friend and mentor, Jim Craft

Posted on September 13, 2015 at 10:45 AM

Today, September 13, marks the birthday of a man who changed my life. Now deceased, Jim Craft was a partner in Deloitte. I started working for him as a senior accountant in 1981 and continued to do so up until and even after I was admitted to the partnership in 1988. Jim became more than a supervisor. He was a mentor ("rabbi"), teacher and friend. Heidi (my wife), Jim and I transcended a mere work relationship, often traveling to Europe together, combining ...

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