While risk is inherent in any organization and claims will always occur, their impact can be minimized and contained through an effective risk management strategy. Risk Management Services, a unit within the Office of the Chief Financial Officer, strives to be a consultative resource to the University community in advising about insurance, claims and any issues relating to risk management. 

Our main priorities are:

• Development of the risk management framework;

• Risk assessments to identify loss management strategies;

• Assessment of insurance requirements;

• Reporting to appropriate insurance providers;

• Providing Certificate of Insurance (proof of coverage) when required by external parties; and

• Assisting in the preparation of liability waivers, when requested by academic and administrative departments.

Risk Management Framework 

Memorial University's Risk Management Framework has been developed to assist in identifying, measuring, managing and disclosing all key risks in an effort to increase value to all stakeholders. Using this framework, Risk Management Services collaborates with academic, administrative, and research units across the university to identify potential risks and support the development of risk registries. These registries help document university-wide risks and outline appropriate mitigation strategies.

By their very nature, universities are risk-takers. Accepting risks—when paired with effective mitigation strategies—can lead to optimized and positive outcomes.