Enterprise Risk Management in Higher Ed Part 3:
Risk Oversight and the Board’s Role in Higher Education Risk Management
The need for enterprise risk management (ERM) in higher ed was underscored by the chaotic nature of 2020. However, as noted in two previous blogs, many higher education institutions are unsure of why and how to develop this type of plan and then administrators’ roles in operationalizing this effort. This post addresses the other major component that needs to be addressed in creating an ERM plan—the important part that the institution’s board plays in the ERM.