Enterprise Risk Management.
In support of Drew University’s student-centered mission, the Drew Enterprise Risk Management Committee governs the ERM process in a transparent and dynamic manner to mitigate the university’s risk.
Dear Drew Community,
Identifying and managing risk is essential to any organization, particularly a university. Accordingly, I’d like to introduce you to an initiative that’s critical to our mission of building a stronger, more sustainable Drew now and in the future.
The Drew Enterprise Risk Management Committee is facilitating the development of plans that will address risks at nearly every department on campus. Initially, the focus is on our top 10 risks. Ultimately, though, the plans will address dozens of other risks as well.
The committee members, who represent 10 departments, will focus on best practices as they help each department draft and implement its own plan. They’ll also regularly monitor the progress of the plans once they’re in place. You’ll find out more about the committee and its mission here at this site.
This important work was initiated by the Audit Committee of the Board of Trustees and is being carried out with the support of my cabinet, particularly VP of Finance and Administration John Vitali. Initially, a consultancy identified our risks and later, another firm trained ERM Committee members on how to help departments initiate their plans. To begin that process, the committee will contact the risk owners of the top 10 risks during the fall semester.
In many ways, the ERM plans will codify what’s already taking place across campus, as we focus on our core mission of growing the student body while becoming more efficient in our day-to-day operations. Having it on paper, though, will provide clarity and accountability as we work together toward common goals. I’d like to thank you in advance for giving this initiative the attention that it deserves.
Should you have any questions, please email email@example.com.
The committee members represent 10 departments.
For 2019-20, the chair is Brian Colvin and the vice chair is Stephanie McCormick.