SUU Enterprise Risk Management (ERM) Program

The Office of Enterprise Risk Management, in conjunction with the Enterprise Risk management Committee, coordinates the efforts of the University’s Enterprise Risk Management (ERM) Program. It provides a framework and processes for the identification, assessment, mitigation and monitoring of risks and opportunities to the achievement of the University’s strategic goals and mission.

What is Enterprise Risk Management?

The purpose of ERM activities at Southern Utah University is to provide a comprehensive program to proactively manage the portfolio of what leadership collectively believes are the most critical risks and opportunities to the achievement of the entity’s mission and objectives.

ERM promotes an ongoing, risk-aware culture across the University to enable decision makers to perform a risk-reward analysis of choices, and make decisions with an understanding of implications of such actions while pursuing the mission and goals of Southern Utah University. It is not intended to be a one-time process or a prescriptive method for managing individual risks, but instead a tool for leadership to use in managing existing and emerging risks within their portfolio of activities.

ERM is a continuous business process that extends the concepts of risk management across an entire organization, looking at both “upside” opportunities and "downside" risks. Considering risks and opportunities in the context of strategy is what differentiates “ERM” from "traditional" risk management. This process includes:

  • Identifying and assessing a broad array of risks/opportunities that could negatively/positively impact the achievement of institutional goals and objectives
  • Ensuring appropriate ownership and accountability of risks and opportunities
  • Developing and implementing appropriate risk mitigation (opportunity enhancement) and monitoring plans by risk/opportunity owners
  • Establishing a program structure that engages functional leaders across the campus to identify and prioritize risks and opportunities
  • Providing senior leadership with key information to make risk-informed decisions and to effectively allocate resources

ERM Resources