Enterprise Risk Management

Enterprise Risk Management is a systematic business process designed to identify potential events that may negatively affect an organization and manage or mitigate risks associated with those events based on the organization’s strategic goals. At RIT, we take a broad view of risk as any event that could affect the university’s competitive position or ability to achieve its mission, vision, and strategic objectives. RIT does not seek to eliminate all risk; rather, it strives to be risk-aware and to effectively manage the uncertainty inherent in its environment. Through ERM, we identify, understand, assess, and respond to the risks facing the university, while considering the impact on the RIT community, and RIT’s standing, reputation, financial position, and performance.

The RIT Senior Leadership team owns ERM for the university, but all employees play a critical role in identifying and addressing risk at RIT. OCE administers the ERM program and related processes.

Read our Risk Philosophy and ERM Program Purpose, Goals and Objectives, and Guiding Principles for more information.