Risk Management

Insight Center

Topics: Risk Management, Administration and Finance

Focus Attention on the Most Appropriate Risks

Higher education is seeking a new equilibrium for institutional risk management. It’s undeniable that the typical college’s widening scope of activity incurs new and more consequential risks, justifiably causing boards to ask for more explicit and frequent risk reporting. Yet, many institutions are trapped in a vicious and profitless administrative cycle of endless risk identification and assessment, with management time and treatment funds too often misallocated on the wrong altitude of risks.

These resources, based on interviews with more than 120 CBOs and risk managers, help members implement a practical approach to enterprise risk management. They profile the organizational structures, assessment methodologies, and unit-level support services that focus limited oversight efforts on the most important risks and incentivize the mitigation of the most urgent in ways consonant with higher education’s decentralized shared governance.

What Your Peers are Asking

  • What are the most effective ERM organizational models and board oversight approaches?
  • How do we fast-track risk identification, preventing excessive effort on upfront risk register development and enabling timely adjustment to external developments?
  • Federal risk management: How do we ensure unit-level risks get executive attention, and that scarce administrative resources get allocated to the most urgent local risks?
  • How can we incentivize local units to follow through on institutional risk treatment plans?
  • What are the most innovative campus risk awareness strategies and user-friendly assessment tools?
  • What are the best function-specific risk management resources for central administration, campus safety, student mental health, IT, and others?

Access All Risk Management Resources