Enterprise Risk Management (ERM) uses a strategic lens to identify risks that could impact the university's mission and reputation or derail accomplishment of its mission. ERM is used by many corporations and institutions. ERM in higher education has been recognized as an important process required to manage risks and opportunities across the institution in an effective manner to meet mission objectives.
University System of Maryland policy requires that each institution implement ERM and submit a report of their findings to the System office annually. The University of Maryland (UMD) participates actively in the process. University leaders have identified institutional risks and continue to document new and emerging risks. They review and assess mitigation strategies for each risk as part of the institutional ERM process.
The university's Director of Enterprise Risk Management is LaVern Miles.
Questions? Contact us at erm@umd.edu or contact LaVern directly at lmiles24@umd.edu.