The George Mason University President has charged the ERM Council to:
- Develop and implement a comprehensive university approach to enterprise risk management that provides key principles and concepts, a common language, clear direction and guidance, and risk assessment and management procedures as well as addresses policy.
- Assess Risk Owner risk response and control activities so that the University’s objectives and mission are balanced with responsible risk-taking.
- Integrate ERM practices into committees and working groups that address the key risk types (Strategic, Financial, Compliance, and Operations and Hazards) across the university thereby supporting a culture of enterprise risk management and limiting the need to create additional venues and means of conducting ERM business.
- Provide guidance and input on identified enterprise risks from the strategic, financial, compliance, and operations and hazards perspectives on an ongoing basis as needed.
- Monitor university programs and actions and address new and existing enterprise risks as well as emerging risks (e.g., new compliance requirements).
ERM Council members will engage the units under their supervision such that each participates in ERM efforts commensurate with the risks and responsibilities associated with their role at George Mason University.