Tarleton’s Enterprise Risk Management Plan
Events such as management changes and reorganizations, demands for increased accountability by funding sources, new legislation resulting from corporate scandals, and adverse events occurring on or around campus have heightened the awareness of the various risks facing the University community. Since risk management has always been an important area of strong management interest and involvement, the University Office of Risk Management and Safety (RMS) was formed in 2005. In 2008, RMS assumed enterprise risk management (ERM) functions through the Office of Finance and Administration.
The Enterprise Risk Management Process is coordinated annually in the following manner:
Campus Ethics, Compliance and Enterprise Risk Management Committee assists RMS with managing Enterprise Risk Management activities.
RMS forwards request to the campus community requesting risk items to be submitted through various reporting organizational units which include:
- Academic Affairs
- Student Affairs
- Finance and Administration
- Enrollment and Information Management
- Institutional Advancement
Identified risk items are presented to the Executive Cabinet for addition to the Risk Matrix. Additionally, the Executive Cabinet reviews and approves risk items to be included or removed from the University Risk Matrix for tracking purposes. Risk Matrix is submitted to System Office Risk Management before April 6th each year.
The Campus Ethics, Compliance and Enterprise Risk Management Committee will review the final Risk Matrix for inclusion within the annual Ethics & Compliance Plan. Upon final review the updated documents will be posted at the ERM website.
Long-term risk assessment planning will include the development of interactive tools for the University community to perform their own self-assessments and updates.