Overview of  Risk Management

Intent

The intent of EWU’s Office of Risk Management is to effectively manage risk while providing excellence in academics, student and employee opportunity and support, and community engagement.  To achieve this, the office of risk management seeks to pro-actively assess and respond to risks that may affect the achievement of EWU’s mission, goals, and objectives. This intent is implemented through EWU’s Enterprise Risk Management (ERM) Policy and program.

Scope

Responsibility for identifying and managing the risks of the university, as in any organization, lies with the management of the university. Heads of faculty and administrative services are responsible for ensuring compliance with the university policies. They also have a responsibility to identify, evaluate and manage strategic and operational risks and bring emerging institutional risks to the president’s attention.

The Risk Register process plays an important role in identifying, evaluating, and mitigating the risks facing the university and working toward their continued improvement.

Procedures

The university recognizes that there is exposure to risk inherent in its programs and activities. It is the university policy for every employee to act to reduce risk to the greatest extent feasible, consistent with carrying out the mission and goals of the university.

ERM is a holistic approach to risk management and encompasses risks related to all university activities including strategic, operational, compliance, financial, reputable, safety, etc. ERM pro-actively identifies risks, and opportunities across all university programs, departments, or divisions. The impact of risk or opportunities are considered not in isolation, but rather, in relation to all other agency programs and risks. This avoids departmental “silos”. To achieve a mature ERM program, EWU will support and implement through its managers, supervisors, and employees, coordinate ERM guidelines, standards and procedures.