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:
Enterprise Risk Management Committee (ERMC) established to assist 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 Life
- Finance and Administration
- Enrollment and Information Management
- Advancement and External Relations
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.
The Director of Risk Management and Safety will forward a final report to the University President. Upon final review the updated documents will be posted at the ERM website located at www.tarleton.edu/erm
Long-term risk assessment planning will include the development of interactive tools for the University community to perform their own self-assessments and updates.