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Enterprise Risk Management Overview
Enterprise Risk Management (ERM) is a coordinated approach to assess and respond to all risks affecting the achievement of an organization's strategic, financial, operational, compliance, and reputational objectives. It is a management practice essential to advance the College's strategic plan, Building a Better Brockport.
The College strives to embed ERM into all its operations through a framework that ensures decisions trading value and risk will be made on an informed basis and be aligned with institutional risk tolerance and strategies.
The College's management of risk will be consistent with the SUNY's Enterprise Risk Management Program Policy.
Enterprise Risk Management (ERM) Steering Committee
The Committee is charged with providing leadership for college-wide risk management and overseeing the development of an enterprise-wide Risk Register to identify and prioritize risk mitigation priorities annually.
A common language for managing risks will be established with a balanced view – one that attempts to minimize hazards, influence and control uncertainties, and manages opportunities.
Membership will consist of the senior level managers of the primary operational and compliance functions of the College to assure that risk management decisions are aligned with college operations, made on an informed basis and shared across the institution.
The SUNY designated Campus Risk Management Officer (Vice President for Administration and Finance) will serve as chair of the Committee.
The Committee will advise the President's Cabinet and the Joint Planning and Budget Committee (JPBC) semi-annually on the full range of risks faced by the College.
Membership will consist of:
- Vice President for Administration and Finance (Chair)
- Vice Provost
- Assistant Vice President for Enrollment Management
- Assistant Vice President for Finance and Management
- Assistant Vice President for Human Resources
- Assistant Vice President for Student Affairs
- Director of Physical Plant
- Senior Director of Advancement
- Associate Director of Communications
- Chief Information Officer
- College Senate Representative
- Brockport Auxiliary Service Corporation Representative
- Director of Business Affairs, REOC
- Director of Environmental Health and Safety (staff to committee)
- Emergency Manager (staff to committee)
- Assistant to the Vice President for EMSA (staff to committee)
- Executive Assistant to the VP for Administration & Finance (staff to committee)
Duties and Responsibilities
The Committee will:
- Advise the President's Cabinet and the Joint Planning and Budgeting Committee on all matters related to Enterprise Risk Management.
- Design a comprehensive and common-sense approach to manage risk across the entire organization; to include a risk register approach that incorporates measurement methodologies to quantify, compare and prioritize institutional risks against the College's willingness to tolerate.
- Assess campus risk management strategies on an ongoing basis to assure they remain current with regulatory, operational and legal changes as well as business objectives.
- Retrospectively review incurred financial or operational losses and prepare recommendations or corrective action plans for future prevention.
- Increase the College's risk intelligence – meaning how it gathers information about risks and analyzes, applies and learns from the results.
- Be the point of communication to the SUNY ERM Program Office.
The Committee will meet bi-monthly, or more frequently if deemed necessary. Subject matter experts will be invited to attend, as needed.