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Enterprise Risk Management

Risk Centers

The risk assessment process incorporates a framework that clusters significant / critical risks by risk center. This grouping is designed to promote a sense of risk ownership and accountability. Each risk center has one or more senior leaders that oversee the risks within that center. The 11 risk centers are shown here.

Risk Center Goal Risks Are A Threat To Consequences
Academic Affairs Set academic policy that results in a superior learning environment Academic excellence resulting from, among other things,  ineffective academic strategies, inappropriate standards or poor fiscal management Loss of reputation; reduced academic rankings among peers; inability to compete for quality faculty or students; reduced research support
Business & Finance Ensure the processes required to carry out goals are appropriate and cost-effective Attainment of mission due to ineffective organizational processes resulting from, among other things, lack of accountability, poor change management, dysfunctional departments or business units Loss of reputation; weakened financial position and flexibility; inability to attract / retain high-quality faculty and staff
External Relations Maintain strong, beneficial relationships with governmental bodies, alumni and business partners Relationships with governmental bodies, alumni and business partners arising from, among other things, poor communications, ineffective strategies or lack of coordination Reduced state budget appropriations and other detrimental financial impacts; strained relationships with state and local governments; reduced philanthropy; soured business partner relationships
Governance & Organizational Ensure appropriate governance and a capable, nimble organization

Achievement of educational, research and public service goals resulting from, among other things, ineffective leadership, deficient organizational effectiveness, lack of cohesiveness

Loss of reputation; inability to compete for / retain quality faculty and staff; unacceptable financial position
Health System Provide high-quality medical education to students and excellent services to patients. Quality of patient care and medical education resulting from, among other things, ineffective processes, obsolete facilities, organizational issues, increased provider competition Litigation; inability to hire/retain high-quality faculty and staff; reduced financial viability; increasingly unattractive payer mix
Human Resources Attract and retain a highly capable workforce Recruitment and retention of high-quality employees resulting from, among other things, poor working conditions, inappropriate procedures, cultural issues Inability to hire/retain a quality work-force; poor workplace culture; ineffective labor relations
Risk Center Goal Risks Are A Threat To Consequences
Information Technology Provide cost-effective technology services and up to date, reliable systems and hardware to support all stakeholders University processes dependent on technology systems resulting from, among other things, system security issues, hardware/software capabilities, lack of network integrity Inability to perform vital teaching and research activities; reduced ability to hire/retain high-quality faculty/staff; loss of information; privacy violations; breach of network security
Research Maintain a high-quality program resulting in new ideas that benefit society and translate promising research into viable commercial ventures Research mission and activities resulting from, among other things, inability to attract sufficient grants and other funding, inability to attract highly-qualified faculty/researchers, inability to provide quality facilities Loss of reputation; loss of grant monies and gifts; weakened financial condition; negative impact on educational mission
Safety Ensure a safe environment for all students, faculty, and staff Campus community and property; faculty and students studying, working, and volunteering abroad; crisis mitigation plans and disaster recovery; energy processes and infrastructure, laboratory and research safety Harmful actions against campus community and/or property; unsafe environment for students, faculty, and staff
Student Affairs Ensure all students have opportunities for personal and professional growth Student well-being, cultural satisfaction, educational excellence as a result of, among other things, student inability to acclimate to campus, student substance abuse, poor facilities Inability to retain students, and eventually, inability to attract high-quality students; well-being of high-risk students; poor potential for meaningful student educational experience
Treasury Maintain sound fiscal position and strong financial flexibility Financial goals arising from, among other things,  state or national economy, poor fiscal planning / management, hazards Lack of financial flexibility, insufficient liquidity, inability to raise capital at reasonable prices

Last Updated: April 8, 2016

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