Dive Brief:
- Higher education institutions across the U.S. are paying attention to risk management, recognizing the range of liabilities and collaboratively planning ahead to address them.
- University Business reports the first step is often to break down silos and bring leaders across campus together to think about risk broadly, perhaps through risk matrices and strategic planning — and staying flexible is key.
- Enterprise risk management policies can help colleges and universities budget ahead of time for crises and also earn the trust of donors, who can be assured that virtually any situation will be handled well.
Dive Insight:
Campuses face liability for a variety of risks ranging from student alcohol abuse to sexual assaults, mass shootings, and cyber attacks. And as Univeresity Business reports, establishing risk management contingencies has gained an even greater amount of focus since the Jerry Sandusky scandal at Penn State.
On a universitywide committee for risk management, student life leaders can lead the charge while getting support from other top minds. Breaking down silos that are so persistent in higher education brings greater expertise to one table and ensures everyone is on the same page when it comes to crisis management.