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A Successful ERM Program

As ERM is a process, implementation of this process requires time, patience and persistence.

Success of the program relies upon:

  • Top level support – senior leadership must create and ERM culture by setting a clear mandate for ERM within the University
  • Clear roles and responsibilities and assigned accountability for critical risks
  • Establishing an effective process and follow-through for identifying, assessing, mitigating, and monitoring of critical risks
  • Linking ERM to strategic planning and decision making
  • Sufficient resources – Ensure sufficient resources and staff to develop underlying processes, policies, and procedures
  • Establishing a risk aware culture with strong campus buy-in – risk awareness and policies become embedded in all layers of the university rather than being viewed as an issue for Risk Management

ERM Process

Diagram ERM  Process