Enterprise Risk Management (ERM)

What is ERM?

Enterprise Risk Management is "a continuous business process, led by senior leadership, that extends the concepts of risk management, and includes identifying, assessing, mitigating and monitoring risks to the organization." The image to the right (Stanford University, Office of the Chief Risk Officer, November 2017) provides a helpful visual overview of what ERM is and what ERM is not.

ERM Categories

  • Strategic – Affects achievement of strategic goals and objectives
  • Compliance – Affects compliance with federal, state and local laws, rules and regulations
  • Reputational – Affects public perception and reputation
  • Financial – Affects assets, technology, financial reporting and auditing
  • Operational – Affects ongoing management processes and procedures

ERM Benefits

  • Allows for the prioritization of response and action to identified high-level risks as part of an institution-wide mitigation action plan
  • Enables senior leadership and others to continually improve ways to manage current and emerging institutional risks
  • Ensures the seamless integration of strategic planning

ERM Policy

In accordance with BOR Policy 7.11 Risk Management Policy, each USG institution is required to do the following:
  • Adopt an institution-wide approach to risk management
  • Each president shall designate an ERM coordinator to assist campus administrators in maintaining the ERM framework
  • Risk management processes will be embedded into the institution’s management systems and processes
  • All risk management efforts will be focused on supporting the institution’s objectives

ERM Charter

Ethics and Compliance Training

The College ensures that all employees complete required training for policy, ethics, safety, loss prevention, and information security both at the time of hire and through refresher courses offered thereafter. For more information, please visit Human Resources - Compliance.

Contact Information

James (Jim) Lynch, EdD, MFA
ERM Campus Coordinator

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