Enterprise Risk Management

Mission:

To establish a Risk Management Program that provides a forum and process to strategically identify risks that are of utmost importance and develop coordinated and holistic mitigation plans that appropriately addresses those risks.   Enterprise Risk Management (ERM) will provide the framework to proactively and continuously manage risk in a manner consistent with YSU’s mission, goals and culture.

Objective:  To create a risk and governance culture by improving the capability to proactively identify, assess, prioritize and mitigate risk.   

Framework:   Based on the ISO 31000 International Standard, the YSU ERM process recognizes that risks are not to be avoided but managed, and that everyone is a Risk Manager.  

ERM Process
Identify
Analyze and Prioritize
Mitigate
Monitor
Communicate

Risk Council:

During fiscal year 2018, the University established a 19-member Risk Council.

Mission:   The ERM Risk Council will proactively promote risk awareness across the YSU campus community and provide a framework that supports an integrated and effective process of managing risk

Goals:    Promote and advance risk awareness, provide leadership in the identification and assessment of risk and assign ownership of risk

 

Risk Aware Culture + Addressing Risk Holistically = Organized Uncertainty