Enterprise Risk Management (ERM)

Stockton University is implementing an Enterprise Risk Management (ERM) initiative, which will identify, prioritize, and monitor risk throughout the institution. ERM is a systematic approach to the identification and assessment of the most significant risks that may impede achievement of strategic goals across the entire University. The ERM initiative will encourage the achievement of organizational goals and objectives. The Cabinet has worked with outside consultants Baker Tilly to identify the top 10 risks facing Stockton University today, and the Office of Risk Management is currently working with departments University-wide to assess and monitor these risks and associated mitigation strategies. 

The process of identifying the top 10 risks involved the entire University community, through the use of surveys and interviews with various stakeholders. The current top 10 risks are available to view here. 

ERM will be an ongoing process, as the top risks facing Stockton University will likely change over time, and the associated mitigation strategies will change as well. While some risks may be eliminated, ERM does not seek to eliminate all risks, but rather manage them for the best interests of the University. The Office of Risk Management, along with Cabinet, the Board of Trustees, and the entire University community will work together on mitigation strategies and track both the risks and mitigation strategies over time.