Risk Management
Tackle today’s Risk Management challenges and seize tomorrow’s opportunities.
In an age of increasing risk complexity, higher education face risk in every part of their operations, including the risk of not identifying opportunities. Developing a strategic risk management (SRM) program to proactively identify, categorize and prioritize the myriads of risks and opportunities across the institution – without the support of specialists – takes a substantial investment of time and resources.
Leveraging InfiniteED’s deep knowledge and experience in implementing SRM solutions, institutions count on us to identify, prioritize and mitigate risk and seize opportunities. Clients value our objective, customized and tailored methodologies grounded in leading practices to help them connect seemingly disparate risks and opportunities in strategy, finance, operations, technology and compliance. As a result, our SRM clients are better positioned to reduce the chance of loss, create value for stakeholders, maintain financial stability and drive innovation.
- Risk Management Governance
Risk governance is crucial to sustain an effective institutional program. Our risk advisors work closely with you to design the key components of governance (e.g., charters, risk committees, risk accountability and ownership guidelines) that integrate policies and processes to guide your organization in identifying, evaluating, responding to, monitoring and reporting on risks across the enterprise. - Risk Management Maturity Assessment
InfiniteED’s proprietary tools enable our risk advisors to evaluate the effectiveness of your risk management program, existence of key components and identify potential gaps within the program. We collaborate with you to develop a risk management roadmap tailored towards achieving your desired future state risk management program through stakeholder education, focused insights, facilitated discussions and consensus building. As a result, the actionable roadmap highlights opportunities for enhancing your risk management capabilities. - Institutional Risk Identification
InfiniteED’s risk advisors work closely with you to identify and build leadership consensus to the top risks that may have the greatest potential impact on the institution’s strategic priorities and overall performance. We use our proprietary tool to conduct comprehensive external scans, using publicly available information to better understand your current risk landscape and deliver valuable insights on key external risks and highlight potential emerging risks. - Institutional risk assessment
Leveraging the output of the risk identification process, InfiniteED’s risk advisors assist you with assessing (prioritizing) risks through the application of customized rating criteria that evaluates the likelihood, impact and mitigation effectiveness. We use our proprietary tool to facilitate discussion with cross-functional stakeholders to validate that appropriate risks have been identified with proper alignment on risk exposure ratings to reach a consensus-driven enterprise risk profile and needed risk response (enhance, review or watch). - Institutional risk response
InfiniteED’s risk advisors collaborate with you to facilitate the development of risk response plans for your institution’s top enterprise risks. This effort is a cornerstone of any risk management program, as it enables the institution to mitigate potential negative impacts on strategic priorities and performance while also unlocking potential upside opportunities. We align risk response to risk root causes that are common across risks, resulting in multiple risks being reduced through a single mitigation strategy.
InfiniteED’s risk advisors collaborate with you to develop or refine your institution’s risk appetite and tolerance thresholds that align with your institution’s strategic and performance priorities. We will work diligently with you to thoroughly understand your institution, priorities, challenges and risk landscape to provide practical advice on how to articulate and implement your risk appetite effectively. Our focus is to help you align risk-taking with opportunities, balancing potential rewards with acceptable risks, enabling your organization to pursue growth confidently.
Ready to convert risks into opportunities?
Reach out to learn more about how InfiniteED Consulting can help.