Implementation of an ERM program requires action and responsibility at all levels of the institution, as summarized below:
Chief Resilience Officer
- Design and implement the ERM process
- Ensure the Board of Trustee and Senior leadership are apprised of the most critical risks to achievement of the entity’s mission and objectives
Risk Owners
- Identify current and emerging risks, assess, manage and communicate risks
- Remediate gaps in mitigation and monitoring
- Ensure risk management is integrated into daily activities
President and Strategic Enterprise Risk Management Committee
- Provide input, guidance, and oversight on ERM, including stratgic risks priotization
- Charge SERMC Workgoups
- Champion ERM process within respective areas of responsibilities
Board of Trustee
- Provide risk oversight by understanding and approving the ERM process and overseeing significant risks