Enterprise Risk Management
The Office of the Treasurer is leading the effort to identify and manage enterprise-level risks that could jeopardize the University's abilities to meet its overarching strategic and operational objectives.
The Risk Management Council (RMC) facilitates Enterprise Risk Management (ERM) at the University. Comprised of representatives from Internal Audit, Compliance and leaders from the Academic Division and Health System, the RMC serves a critical role between elevating enterprise-level risks to senior leaders and identifying and cultivating risk management activities at the department level.
The RMC works with the University's ERM Risk Management Networks (RMN) to connect major operating areas of each division and to establish a conduit for identifying and gathering key risk data.
Property & Liability Risk Management
Property & Liability Risk Management is the process of minimizing the adverse effects of accidental losses to the University. This process involves:
- Identification of exposures.
- Evaluation and selection of risk management techniques.
- Review of contractual agreements for risk transfer opportunities and liability, and insurance coverage requirements.
- Management of claims against and for the University, which could involve bodily injury, property damage, and other types of loss.
- Development of financial protective measures to pay for losses that do occur, either through insurance or self-insurance mechanisms.