Welcome to the Enterprise Risk Management (ERM) web site. We will continue to develop this site in an effort to provide students, faculty and staff with a variety of resources which are important aspects of the University’s enterprise risk management strategy.
Our function at ERM is to take a leading role working with all areas of the University, including the Marine Institute, Grenfell Campus, Harlow campus and the Separately Incorporated Entities (SIEs) to identify, assess and develop mitigation strategies that will reduce the likelihood of anything getting in the way of a program or project goal. ERM's role is wide-ranging, encompassing the internal audit function, insurance and liability in addition to an extensive array of risk issues.
With a University as big as Memorial there is a wide array of issues that can arise. ERM is here to assist with basically any areas of risk, whether it is the well being and safety of people; protection of our physical, intellectual and financial assets; the environment or the university's reputation. It could involve students going on work term placements; activities on campus; physical access to our campuses; or construction and building maintenance.
Our goal is to try and instill a sense of risk management in the minds of Memorial's faculty, staff and students. Our main priorities are to increase awareness of potential risks and to minimize the University's exposure to all types of liabilities by utilizing the most appropriate risk reduction strategies. In the coming year we will be working with departments so they can become proactive, recognize risks and then determine how to minimize the exposure to those risks. That will include ensuring appropriate policies, procedures and safeguards are in place. ERM wants to ensure that everyone is aware that risk management is about more than simply having appropriate insurance coverage.
The Enterprise Risk Management Unit is looking forward to working with all students, faculty and staff to help develop proactive approaches to minimizing risks rather than being reactive to incidents. We see our role as helping create a safer environment for our faculty, staff and students.
-David Head, Director
Enterprise Risk Management