Enterprise Risk Management
Print friendly
Email or share
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
