麻豆天狼副利院 Regulations
麻豆天狼副利院 Regulations
Skip to main content Publish Date: October 08, 2021
Next Review Date: October 01, 2026
Owner: Office of Risk Management
Purpose: Enterprise Risk Management (ERM) is a process, overseen by the Chancellor and respective President of each component institution, by which an organization identifies, assesses, prioritizes, and manages potential risks to achieve its objectives.
Each institution shall identify the appropriate administrative person(s) to develop and implement ERM tools to effectively manage risk through successful identification, mitigation, and monitoring activities.
An ERM philosophy involves creating a risk-aware culture, deciding how the organization and its components view risk, and establishing principles for how to organization responds to risks. A well-defined ERM philosophy is crucial for integrating risk management into daily operations and strategic planning.
01 Standards
a. Component Institutions should include the following key elements in the application of ERM:
(1) Determine Level of Acceptable Risk - Management determines the level of risk acceptable to the organization, including the acceptance of risks designed to accomplish the organization's objectives.
(2) Identify and Prioritize Risk - Identify and prioritize risk associated with the achievement of strategic plan goals and/or other key continuing operational programs.
(3) Develop Mitigation Activities - Develop and implement mitigation activities to reduce, or otherwise manage, risk at levels that were determined to be acceptable to management.
(4) Conduct Ongoing Monitoring - Conduct monitoring activities to periodically reassess risk and the effectiveness of controls to manage risk.
(5) Report Periodically on ERM process - Report and communicate periodically on the application of the Enterprise Risk Management tools in the management of risk. Risk deficiencies should be reported upstream, with serious matters reported to top management.
b. The above elements should be applied across the institution in accordance with the strategic plan, but also be used as a tool to address departmental or functional unit level risk at appropriate levels of detail.
02 Biennial Requirements
a. TTUSA and each component institution shall provide a report to the Chancellor and Regents in conjunction with its annual strategic plan report to the Board of Regents using a standard format.
Biennial Timeline - Even numbered years
Second Friday in November of preceding odd numbered year - TTUSA Office of Risk Management (ORM) initiates update process with component institutions.
Second Friday in March of the even numbered year - Component updates due to ORM.
May Board meeting - TTUSA and component institutions presentations.
b. The biennial report will require identification of:
(1) Risks key threats that may prevent accomplishment of a goal.
(2) Mitigation activities - controls, programs, processes, or procedures in place to reduce the likelihood or severity of the risk.
(3) Monitoring activities - systems, reports, or executive reviews use to track and analyze the risks associated to the goal and the related effectiveness of mitigation activities.
c. TTUS Office of Risk Management will provide guidance and templates annually for the progress reports.
Contact Office: TTUS Office of Risk Management 806-742-0212