President’s Expanded Cabinet - Monroe Community College

SUNY and MCC Enterprise Risk Management for the President's Expanded Cabinet

September 21, 2018 Darrell Jachim-Moore

Takeaways

What is this thing called "Enterprise Risk Management (ERM)"? ? Video: We are all Risk Managers! ? Traditional vs. Enterprise Risk Management Approach to Implementing ERM at SUNY and MCC ? Policy and Structure of SUNY Enterprise Risk Management Program ? MCC's Enterprise Risk Management Program ? Structure and Chronology ? High Risk Areas Video: We're In This Together!

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What is Enterprise Risk Management (ERM)?

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What is Enterprise Risk Management (ERM)?

Risk is uncertainty: Protect MCC's assets by understanding the bad things that can happen and emphasizing the good ? Risk = Opportunity (sometimes used interchangeably) ? Within every risk there is opportunity, within every opportunity there is risk Uncertainty (Risk/Opportunity) is everywhere; effect of uncertainty on goals

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What is Enterprise Risk Management (ERM)?

Everyone is a Risk Manager Recognize Risk Understand its Impact Take Steps to address Know your resources ? Darrell, X2185; Eileen, X2186

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Risk Management: Traditional vs. Enterprise

Traditional Risk Management

Risk defined as the possibility of something "bad" happening Segmented/departmentalized - each department/silo deals with own risk Limited knowledge of overall college risks Focus on preventing loss within department (tactical) Manages risk around physical and financial assets Solutions to reducing risk based on each silo's expertise and decision-making skills

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Risk Management: Traditional vs. Enterprise

Enterprise Risk Management

Risk defined as "effect of uncertainty on objectives"; Risk = Uncertainty ~ "bad" and "good" Holistic/all college approach/broad perspective on overall risk Emanates from the "top" ? yet, is informed from the entire college community Focus on lowering risk and taking advantage of opportunities, increasing sustainability and

providing value across the entire college (strategic); achieving college goals Assesses entire portfolio of assets including students, employees, suppliers,

community/government partners, MCCA, MCCF, innovative processes Solutions to managing risk based on college-wide view and priority setting

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Background

Why Enterprise Risk Management Program?

State University of New York

Large, complex organization 64 campuses $13.3B

Highly regulated industry Many affiliated/campus-related entities Ongoing strategic initiatives, goals and objectives High quality reputation/brand Large volume of students, employees, and visitors

1.3M students served 91,137 employees Subject to a number of risks

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