The goal of Enterprise Risk Management is to develop, implement and manage the ERM function, across the entire scope of the University, in a manner that enables the University to fulfill its mission and strategic goals.
This entails providing directions, information and guidance, as well as the development and implementation of action plans on any issue pertaining to risk, with the goals being to prevent and mitigate all risk occurrences.
The position is also charged with directing, developing and administering the University's:
- insurance program;
- internal audit function;
- coordination and facilitation of legal matters with the University's internal and external legal council.
Enterprise Risk Management is a coordinated approach to assessing and responding to all risks that affect the achievment of the University's strategic, operational and financial objectives.
These risks include:
- Strategic: the University's ability to achieve its mission, goals and objectives;
- Financial: loss of assets, technology risks, etc.;
- Operational: on-going management processses and procedures, etc.;
- Compliance: compliance with laws and regulations, safety and environmental issues, litagation, conflicts of interest, etc.;
- Reputational: public perception, political issues, etc.