Enterprise Risk Management
President's Advisory Committee on ERM
The President’s Advisory Committee on ERM is a standing committee
appointed by the President. The Committee is advisory to the President
and UVM’s senior management.
Roles & Responsibilities
- Provide broad management perspective on institutional risk and opportunity and ensure engagement in ERM at the senior executive level.
- Oversee the development and implementation of an ERM program at UVM that continuously manages risks across the institution.
- Recommend draft institutional risk philosophy to the President for discussion with the Board of Trustees.
- Develop draft ERM policy for review and approval by the President.
- Charge, appoint, and oversee the work of an ERM Advisory Committee (ERMAC). The President’s Advisory Committee may choose to delegate to the Chief Risk Officer certain authority and responsibilities for day-to-day direction of the ERM Advisory Committee.
- Review, validate, and/or revise the institutional risk register and portfolio prepared by the ERMAC.
- Refer newly identified risk issues or new initiatives that may pose risk to the responsible official or ERMAC for further assessment and development of recommendations as necessary.
- Review the institutional risk portfolio with vice presidents, deans, and other senior officials, and with governance groups (when needed).
- Make recommendations to the President regarding which risks or opportunities sufficiently impact the University’s strategic objectives to warrant development of enterprise-level response plans to manage those risks or opportunities and/or reporting to the Board of Trustees.
- Assign key institutional risks to responsible officials for development of a written proposal for risk response.
- Review proposed risk response plans for highest-level risks and align such plans with the University’s risk philosophy, strategic objectives, and budgetary resources.
- Review quarterly and annual draft ERM progress reports to the Audit Committee or full Board of Trustees before they go to the President for final approval.
- Jane E. Knodell, Provost and Senior Vice President (Co-Chair)
- Richard H. Cate, Vice President for Finance & Administration (Co-Chair)
- Domenico Grasso, Vice President for Research and Dean of the Graduate College
- Thomas Gustafson, Vice President for Student & Campus Life
- Christopher Lucier, Vice President for Enrollment Management
- Anna Drummond, Chief Compliance & Privacy Officer
- William Harrison, Chief Internal Auditor
- Francine T. Bazluke, General Counsel and Vice President for Legal Affairs
- Mary Dewey, Director of Risk Management & Safety
- Al Turgeon, Senior Strategist for Enterprise Risk & Planning
Last modified May 02 2012 08:48 AM