Enterprise Risk Management
For an Enterprise Risk Management process to be successful all faculty and staff must act as a risk owner through continual awareness of the University’s risk environment, timely communication of risks, and appropriate management of risks that could have an impact on the ability to reach the mission and goals of the University.
What is Enterprise Risk Management (ERM)?
A process-driven tool that enables visualization, assessment, and management of significant risks that may adversely impact the attainment of key organizational objectives and to maximize opportunities for enhancement in all Clemson University activities.
An enterprise risk management process establishes the opportunity for focused and continued awareness and communication regarding risks that may have an impact on the University’s ability to achieve mission-critical and strategic goals and objectives.
What is the process?
- Provide the tools to each risk area:
- Identify and assess risks
- Implement or enhance controls
- Be accountable at multiple levels
- Continuously monitor and assess
Who is responsible?
- Everyone is a risk manager
What is the frequency?