Board of Trustees
Directors
Provost
Provost
The Audit and Enterprise Risk Committee of the Board of Trustees
The Audit and Enterprise Risk Committee maintains oversight of (i) the integrity of the University’s financial statements and related reporting processes, (ii) the establishment and operation of internal control functions, (iii) compliance with applicable laws, regulations and University policies; and (iv) mechanisms maintained by the University to monitor, manage and mitigate risks associated with its education, research and engagement missions.
Business Risk Management Team (BRMT)
The BRMT is the management working group that is responsible for ERM oversight. The BRMT consists of cross-functional leaders and is tasked with providing input, developing consensus, and making recommendations to the Audit and Enterprise Risk Committee regarding the University’s risk appetite, as well as the identification, prioritization and mitigation of material risks facing the University.
Risk Recorders
Risk recorders are subject matter experts with organizational knowledge and understanding of the risk environment that facilitate risk discussions within functional areas. Risk recorders work with their functional area including their BRMT leaders and the ERM Team to identify and prioritize risks.
ERM Team
The ERM Team under the Office of Audit, Enterprise Risk and Operational Resilience is for facilitating the ERM program including developing and overseeing the ERM framework, guiding risk identification and mitigation efforts, and independently evaluating the effectiveness and maturity of risk controls.
Other Stakeholders
Everyone in the University system has a role in ERM. This includes all individuals and groups that are either responsible for managing risk or are affected by risks including all operational units, academic leadership, faculty, staff, students, donors, alumni, and community partners.
