Purpose
In accordance with Article IV of the Bylaws of Case Western Reserve University, the Enterprise Risk Management Executive Committee plays a crucial role in ensuring the University's success. ERMOC strengthens the University’s Enterprise Risk Management Program by providing essential oversight, guidance, and support. Appointed by the President and facilitated by the Vice President for Enterprise Risk Management, this proactive initiative is dedicated to identifying, assessing, managing, and mitigating risks that could threaten fulfilling Case Western Reserve University's mission and strategic goals. Emphasizing risk management protects our community and empowers us to pursue excellence and innovation.
Chair and Membership
The Executive Vice President and Chief Financial Officer will chair the committee.
The membership includes:
- Executive Vice President and Chief Financial Officer (Chair)
- Provost and Executive Vice President
- Senior Vice President for Administration and General Counsel
- Senior Vice President for Research and Technology Management
- Vice President, Chief of Staff and Strategic Advisor to the President
- Vice President, Enterprise Risk Management
- Vice President, Human Resources
Principles
ERMOC supports the Enterprise Risk Management Program's efforts to:
- Develop and implement an Enterprise Risk Management Framework to ensure risks that could impact the University's mission and objectives are effectively managed and mitigated.
- Maintain a structured approach to identifying, assessing, managing, and mitigating risks within the University.
- Lead an annual university risk assessment to identify the top 10 and key emergent risks, evaluating their importance.
- Act and likelihood and monitor the effectiveness of existing risk mitigation actions.
- Promote the linkage between identified risks and the University's strategic plan.
- Ensure all risk owners know that risk identification and management are ongoing responsibilities requiring teamwork and cooperation.
- Establish and maintain an awareness of the University's risk appetite.
- Assign responsible risk owners to the top ten and key emergent risks and ensure appropriate risk management strategies are implemented in line with the relevant risk appetite.
- Ensure a consistent approach to managing risks that considers the University's risk appetite and employs strategies such as avoidance, sharing, reduction, or acceptance.
- Direct an ERM professional development and educational program across all university functions.