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Enterprise Risk

  • Northwestern’s Enterprise Risk Management (ERM) program exists to foster opportunistic risk taking by University schools and units.
  • The program helps campus leaders identify key risks to their strategic initiatives, and builds a process to ensure those risks are effectively mitigated and accurately communicated to relevant stakeholders.
  • The ERM process focuses primarily on key, institutional level risks, but also provides a framework for schools and units to manage the everyday risks of their operations.
  • While risks can be associated with tangible areas such as safety, finance or compliance, all of Northwestern’s enterprise-level risks have a potential reputational impact for the University.
  • The Office of Risk Management partners closely with the Office of Compliance, Audit and Advisory Services to implement the ERM program.