University of Northern Iowa

Enterprise Risk Management

Dominoes

Enterprise Risk Management

The mission of the Office of Risk Management is to minimize the chances of adverse impacts to the University by identifying, assessing and evaluating potential risks and implementing preventive actions to reduce potential impacts of unfortunate events and/or to maximize the realization of opportunities for the University.

The strategies to manage risk typically include transferring the risk to another party (insurance), avoiding the risk, reducing the negative effect or probability of the risk or accepting some or all of the potential or actual consequences of a particular risk.

The Office of Risk Management's primary focus is on what has been identified as traditional risk management activities that include property liability and casualty insurance, tort claims, fidelity and motor vehicle liability claims for property damage or bodily injury arising from motor vehicle accidents.

A primary role of the Office of Risk Management is to collaborate with faculty, staff and students to assist them in achieving their goals while ensuring the interests of the University are protected from unwanted risk. The Office of Risk Management works closely with the Enterprise Risk Management Council to identify all types of risk confronting the University of Northern Iowa and to support efforts to "create and enhance a "campus-wide culture of risk awareness".