The role of enterprise risk management programs in higher education risk governance

• A mistura complicada de riscos do campus está levando a faculdades e universidades a reavaliar sua estrutura de gerenciamento de riscos empresariais (ERM). Adote uma abordagem de sistemas. Em todas as áreas da vida dos alunos. A crescente demanda por serviços de saúde mental dos estudantes é um exemplo da mistura complicada de riscos do campus, levando a faculdades e universidades a reavaliar sua abordagem para identificar, monitorar e responder a danos potenciais.
• Addressing heightened risks, such as student mental health concerns, requires a robust enterprise risk management program.
• To be successful, ERM programs should take a long view, involve key stakeholders, focus on continuous improvement, and adopt a systems approach.

Heightened enterprise risks are hastening the need for enhanced enterprise risk management programs in higher education. The rising demand for student mental health services is one example of the complicated mix of campus risks prompting colleges and universities to reassess their approach to identifying, monitoring, and responding to potential harm.

ERM programs add value to the organization

Além de simplesmente identificar riscos, um programa ERM agrega valor institucional, desenvolvendo estratégias de resposta no nível da empresa que promovem agilidade e resiliência em toda a instituição. Os programas eficazes incluem várias estratégias acionáveis, entrelaçadas nos negócios e nas operações e consideram os impactos de curto e longo prazo.

Actionable risk response includes identifying institution-specific obstacles to proactive risk management — such as campus siloes, limited budgets, or resource gaps that can hinder a unified, cross-campus approach — and developing strategies to break down those barriers over time.

Os programas ERM evoluem e se adaptam

Os melhores programas do ERM adotam uma visão de longo prazo, gerenciando efetivamente os riscos no curto prazo para aumentar uma estrutura de gerenciamento de riscos corporativa que é suportada em todos os níveis da organização e e efetivamente incorporados na cultura institucional. Melhoria e basear as lições aprendidas com crises de curto prazo. Avaliações de risco, monitoramento, decisões e planos de ação devem ser iterativos e refinados e aprimorados continuamente. Como exemplo, esses dados podem ajudar a determinar se os esforços de mitigação de riscos estão produzindo resultados para os riscos mais altos de prioridade, como a saúde mental dos alunos e sinalizando novos e emergentes. Os programas eficazes do ERM movem faculdades e universidades de modelos fragmentados e reativos para aqueles que se concentram em riscos substanciais em um ritmo mais intencional. Exemplos podem incluir medidas de pertencimento em toda a população, número de folhas de saúde e tendências de utilização do centro de saúde. É vital compartilhar decisões de risco e monitoramento de planos com os principais interessados, incluindo membros do conselho que podem ajudar a estabelecer e comunicar as expectativas do programa ERM e sua eficácia na obtenção de prioridades e objetivos estratégicos. Saúde mental do aluno em

To stay ahead, an ERM program must be as dynamic as the risk itself, evolving and adapting over time through continuous improvement and building upon lessons learned from short-term crises. Risk assessments, monitoring, decisions, and action plans should be iterative and refined and enhanced continuously.

To inform these processes, the most mature programs leverage vast internal and external data through trends analysis and benchmarking to support performance and risk indicators for efficiency, effectiveness, and compliance.

Institutionwide risk analytics also supports business intelligence for executive leadership and board committees. As an example, such data can help determine whether risk mitigation efforts are producing results for the highest priority risks, such as student mental health, and flagging new, emerging ones.

ERM programs focus on strategic risks

Leading ERM programs help prevent adverse outcomes and set organizations up to think about and address risk more strategically. Effective ERM programs move colleges and universities from fragmented, reactive models to those that focus on substantial risks at a more intentional pace.

Again, data and trends analysis can be a powerful tool by keeping senior leaders and the board focused on the longer-term horizon and allocating fewer resources to shorter-term disruptive risks. Examples might include population-wide measures of belongingness, number of health leaves of absence, and health center utilization trends.

ERM programs are transparent

For an ERM program to become embedded in the culture, transparency and communication of risks and risk tolerance is essential. It is vital to share risk decisions and monitoring plans with key stakeholders, including board members who can help establish and communicate expectations of the ERM program and its effectiveness in achieving strategic priorities and goals.

An effective ERM program is a valuable piece of the puzzle for addressing the risks associated with student mental health concerns. Threats to health and well-being can affect an entire campus.

Addressing student mental health concerns requires a whole-of-campus systems approach.”

"Just as we implemented a layered response during the pandemic, addressing student mental health concerns requires a whole-of-campus systems approach,” according to Sharon McMullen, R.N., M.P.H., director at Huron and former campus health leader.

To establish a supportive and responsive network, leading institutions are working to create health-inspired campuses that integrate services institutionwide to foster mental health and well-being in all areas of student life — from academics and campus activities to residential living.

Examples of health-promoting approaches include providing safe and plentiful opportunities for exercise, developing strategies to address loneliness and enhance belonging, and ensuring access to high-quality mental health care and services. Coordinating these efforts is critical.

“A good first step is a broad campus health risk assessment to understand the current state and surface opportunities to advance health and well-being,” says McMullen.

Managing risk in higher education requires addressing issues proactively, creating a culture of awareness and mitigation that begins at the board and leadership levels, and prioritizing heightened risks such as health and well-being. With such strategies, colleges and universities will be better equipped and more intentional in their efforts to survive the unexpected and thrive.