The Chief Risk Officer serves as leader, partner and facilitator for Brown University regarding institution level risk identification, analysis, evaluation, response and monitoring. Collectively, this is referred to as Brown's Enterprise Risk Management (ERM) process.
Brown's strategic plan sets the course for the future of the University. "Building on Distinction" establishes a clear direction for our progress, and ambitions goals we aim to achieve. Like any worthy pursuit, there will be many choices of paths to follow, and we will encounter many obstacles and barriers along the way.
In truth, we will never be able to test each route or avoid or eliminate all obstacles on this journey. We must decide, from among the many options we could choose, which we should choose.
ERM is a process, involving and requiring input from faculty and staff across the University, that includes the identification, analysis, and evaluation of these options, which include both opportunities which may hasten our progress and threats, existing emerging, which we must address in our way.
The information gathered is then considered in the planning process, by our corporate board, senior executives, faculty, staff and other stakeholders, who will decide which actions it must and should take to ensure Brown's success. Brown University considers ERM a means to successful achievement of its objectives while protecting the interests of all of its stakeholders.
As the environment in which we operate is global and ever-changing, effective ERM also involves the monitoring of the conditions affecting Brown, and the results/progress on active initiatives. As information becomes available that clarify the best path to success, the ERM process will provide this information to Brown leadership, enabling us to revise and/or correct our course.