Phillips’ areas of research include the financial risk management practices of insurers, financial pricing models of insurance, and various regulatory issues as they pertain to the insurance industry. Phillips has provided advice and research to the Federal government and to major U.S. actuarial consulting firms regarding the modeling of property/liability insurer cash flows. Phillips is a member of the American Risk and Insurance Association, American Finance Association, and the Risk Theory. Phillips was chair of the RMI department from July of 2006 through October 2012. He then was named the associate dean of academic initiatives and innovation until July 2014, when he then became dean of the college.