The Universities of Wisconsin’s Enterprise Risk Management (ERM) governance framework represents the evolution of risk assessment activities at the UW. Many foundational elements of ERM are already embedded across the UW thanks to the Risk, Compliance and Audit process (RCA). The key advancement is the introduction of a formal governance model that establishes clear accountability, escalation pathways, and reporting structures. By aligning existing risk management activities within a common framework, the UW is positioned to enhance coordination across universities, improve risk management practices, strengthen enterprise-wide visibility into strategic and operational risks, and support more informed decision-making at all levels.
Enterprise Risk Management
University ERM Processes
At the foundation of the process is the work occurring at the university level. University level risk identification, assessment, and mitigation efforts will inform and drive the discussions of the ERM Community of Practice, which in turn will elevate enterprise-level themes and emerging risks to the Executive Committee for review and action.
ERM Community of Practice
The ERM Community of Practice consists of the individuals leading risk management efforts at each university and UWSA. Its primary role is to share best practices related to risk identification, assessment, and mitigation, while also providing a mechanism to aggregate local risk assessment results for enterprise-level review by the executive committee.
ERM Executive Committee
The Executive Committee focuses on risks that have enterprise-wide implications for the Universities of Wisconsin. The committee includes key UW System Administration leaders and three designated chancellors, ensuring both systemwide and university perspectives are represented.