Enterprise risk management (ERM) provides a structured approach to identifying, assessing, and responding to risks and opportunities, ensuring decisions stay aligned with the university’s mission, vision, and strategies. It also promotes open dialogue, simplifies the reporting and sharing of key risks, and strengthens accountability across campus. By using ERM, the university can make smarter choices, adapt to change, and continuously learn from experience.

Here is how enterprise risk management supports the university:

• Embeds risk management in operations - Apply a consistent approach to identifying, assessing, and managing risks within unit activities.
• Fosters a risk-aware culture - Encourage employees to consider risks, opportunities, and uncertainties as part of everyday planning and operations.
• Identifies and escalates risks - Monitor emerging issues and report significant risks, concerns, or changes in the operating environment through established channels.
• Assesses and prioritizes risks - Evaluate the potential impact and likelihood of risks affecting unit objectives, services, compliance obligations, and strategic priorities.
• Implements risk responses - Develop, maintain, and monitor appropriate controls, mitigation strategies, and action plans to address identified risks
• Supports risk monitoring and reporting - Track key risks and mitigation activities, providing timely updates to leadership and contributing to university-wide risk reporting.
• Aligns risk management with strategic goals - Consider risks and opportunities when setting priorities, allocating resources, and pursuing unit objectives to support the university’s mission.
• Promotes continuous improvement and innovation - Use risk-informed decision-making to strengthen processes, improve performance, and enable responsible innovation.
• Maintains accountability - Ensure all employees understand their role in managing risk while fulfilling the unit’s responsibilities within the Enterprise Risk Management Framework.
• Collaborates across the university - Work with other units and stakeholders to address shared risks, leverage expertise, and support a coordinated approach to risk management.

• Enterprise Risk Management Policy

Enterprise risk management is part of the Controller's portfolio.

The controller reports to the chief financial officer.

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