Internal Audit & Compliance

Enterprise Risk Management

Print friendly Modified August 18, 2009

Enterprise Risk Management (ERM) is a process-driven tool that enables senior USG management to visualize, assess and manage significant risks that may adversely impact the attainment of key organizational objectives. ERM risks are categorized as follows:

  • Strategic – Affects achievement of strategic goals and objectives
  • Compliance – Affects compliance with federal, state and local laws, rules and regulations
  • Reputational – Affects public perception and reputation
  • Financial – Affects assets, technology, financial reporting and auditing
  • Operational – Affects ongoing management processes and procedures

ERM is being implemented on a pilot basis within the USG in anticipation of a system-wide implementation during fiscal year 2010. Institutions interested in participating in an ERM implementation prior to the system-wide roll-out should contact the Office of Internal Audit and Compliance.

Detailed presentation on the ERM program

ERM Work Process Chart

ERM Work Process Chart