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The Office of Enterprise Risk Management (ERM) supports the University System by providing a systematic, organized and structured framework to align processes, people, systems and information to mitigate or influence risk events that affect the attainment of key strategic goals and objectives adopted by the Board.  

Each institution has risks that are unique to the mission and campus environment in which it operates. Risk management is an essential aspect of all institutional activities. Enterprise risks are defined as significant conditions, events, circumstances, actions or inactions that could adversely affect an institution’s ability to achieve objectives and execute strategies. Enterprise risks are categorized as:  

• Strategic – Affects the achievement of overarching goals and objectives
• Compliance – Affects compliance with federal, state and local laws, rules and regulations
• Reputational – Affects public perception and the organization's overall reputation
• Financial – Affects assets, budgets, financial reporting and auditing
• Operational – Affects business processes, systems, technology, human resources, facilities, student services and other areas that impact the efficiency or effectiveness of operations

The Office of Enterprise Risk Management is part of the Office of Organizational Effectiveness, which reports to the Executive Vice Chancellor for Administration and to the Board of Regents Committee on Internal Audit, Risk, and Compliance. The authority to manage the Enterprise Risk Management framework is specified in the Committee on Internal Audit, Risk, and Compliance Charter as approved by the Board of Regents.