Enterprise Risk Management
The purpose of UVM’s enterprise risk management (ERM) program is to enhance the University’s ability to achieve its mission, vision, and strategic objectives and strengthen its competitive position by fostering an institution-wide culture of risk and opportunity awareness and providing a structured, consistent, and continuous process for the early and proactive identification and reporting of material risks and opportunities to senior management and trustees.
ERM is a process designed to anticipate and analyze potential opportunities and threats that could affect the achievement of the University's objectives.This process is integral to the management and future direction of the University, and should be structured, consistent, and continuous across the entire organization. ERM includes identifying, assessing, deciding on responses to, and reporting on strategic, human capital, compliance, operational, financial, and hazard-related exposures. These exposures include both "risks" that might hinder UVM's attainment of its strategic goals, and "opportunities" that could help the University achieve its strategic goals.
Last modified June 20 2012 02:33 PM