ITS 835 Cumberlands Chapter 9 ERM Implementation in University Setting Discussion Chapter 9 presented the argument for university settings to use ERM. Chap

ITS 835 Cumberlands Chapter 9 ERM Implementation in University Setting Discussion Chapter 9 presented the argument for university settings to use ERM. Chapter 12 presented the approach Intuit used to implement ERM. Compare the two use cases and discuss similarities and differences. Do you agree with the approaches to implement an ERM and why? If you could change anything about the reasons to implement ERM in these case studies what would that be and why? Would you implement the same ERM approaches in your current organization (or future organization)?

To complete this assignment, you must do the following:

A) Create a new thread by Thursday. As indicated above, compare the use cases, make recommendations and determine if it can be implemented in your current or future organizations.

B) Select AT LEAST 3 other students’ threads and post substantive comments on those threads, evaluating the pros and cons of that student’s recommendations. Your comments should extend the conversation started with the thread. Replies should be completed by Sunday.

ALL original posts (4 in total) and comments must be substantive. (I’m looking for about a paragraph – not just “I agree.”)

NOTE: These discussions should be informal discussions, NOT research papers. If you MUST directly quote a resource, then cite it properly. However, I would much rather simply read your words. ITS 835 ENTERPRISE RISK MANAGEMENT
CHAPTER 12
MEASURING PERFORMANCE AT INTUIT
1
INTRODUCTION
 Intuit’s ERM Journey
 ERM Maturity Model
 Benefits of Measuring Performance in ERM Models
 ERM Performance Measurement and Reporting
 Conclusion
2
INTUIT ERM JOURNEY
 Began with ad hoc risk management

Very common entry point

Escalated to ERM when seminal event occurred
 Desire was to stop firefighting and start prevention
 Intuit ERM Core Principles

Enterprise-wide risk framework

Risk assessment is ongoing

Focus on most significant risks

Ownership and accountability

Measure and monitor performance
3
ERM
MATURITY
MODEL
4
BENEFITS OF MEASURING PERFORMANCE IN ERM MODELS

Key Performance Indicators (KPI)

Based on business objectives

Quantitative and qualitative KPI

Leading and lagging indicators

Input, process, and output indicators
 KPIs must be

Tangible

Flexible

Standardized

Outcome or objective focused
5
ERM PERFORMANCE MEASUREMENT AND REPORTING
 First evolution -ERM process adoption
 Second evolution –Risk Mitigation Process Management
 Third Evolution – Multidimensional Risk Management Performance Measurement
6
ERM PROCESS
ADOPTION
7
RISK MITIGATION PROCESS MANAGEMENT
8
MULTIDIMENSIONAL
RISK MANAGEMENT
PERFORMANCE
MEASUREMENT
9
CONCLUSION
At Intuit, risk
management is
everyone’s
responsibility
ERM must be a core
business competency
Coordination is a key
to success
Recognizes
ERM process is
regularly audited
ERM is an integral
part of Intuit’s
operating mode
Upside opportunity
Downside risk
10
ITS 835 ENTERPRISE RISK MANAGEMENT
CHAPTER 9
LESSONS FROM THE ACADEMY: ERM IMPLEMENTATION IN THE UNIVERSITY SETTING
1
INTRODUCTION
 Higher education environment
 ERM in higher education
 Adopting ERM in Colleges and Universities
 The University of Washington case study
 Summary
2
HIGHER EDUCATION ENVIRONMENT
 Generally considered “different” from enterprises
 Historically separate from targets of legislation
 Often, success may lead to lack of risk management
 Multiple high-visibility scandals have shed light on HE
 Many HEIs have migrated to more corporate ERM
 Different HE cultures demand different ERM solution
3
ERM IN HIGHER EDUCATION
 Recognition of institutional areas
 Each encounters unique risks
 Risks can include
 Litigation settlements
 Loss

Assets

Enrollment

Donors

Reputation damage
4
ADOPTING ERM IN COLLEGES AND UNIVERSITIES
 Think tank of HE to discuss ERM in HE
 2001

Pricewaterhouse Coopers

NationalAssocofCollegeandUnivBusOfficers (NAUCUBO)
 Focus

Definition of risk

Risk drivers in HE

Implementation of risk management to assess, manage, monitor risk

Proactively engage the campus community
5
UNIVERSITY OF WASHINGTON
 Sentinel event

$35 million fine for Medicare and Medicaid overbilling
 Push to implement ERM to improve compliance
 UWis built on a decentralized governance model
 Started with

Strategic Risk Initiative Review Committee (SRIRC)

Each initiative asked

Does this proposal add value?

What obstacles are apparent and how can they be addressed?

How can this proposal be improved?
6
 Committee recommendation

Create a Culture-Specific ERM

Examined other HEIs
UNIVERSITY OF
WASHINGTON
(CONT’D)
7
UW
EVOLUTION OF
ERM
8
UW ERM
STRUCTURE
9
UW’S ERM
INTEGRATED
FRAMEWORK
10
UW’S ERM
PROCESS
11
UW’S RISK
ASSESSMENT:
LIKELIHOOD
AND IMPACT
12
SUMMARY
Outcomes are consistent with guidance offered
by
• National Association of College and University
Attorneys (NACUA)
NACUA eight critical factors
• Establish the right vision and realistic plan
• Obtain senior leadershipbuy0inanddirection
• Align with mission and strategic direction
• Attack silos at the outset
• Set objectives and performance indicators
• Stay focused on results
• Communicate vision and key outcomes
• Develop a sustainable process versus a one-time
project
13

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