Enterprise Risk Management

The ERM program will address the two broad risk types found at UMB: institutional risks and functional risks. Institutional risks are those strategic and sector-level risks that could have a major influence on UMB’s mission or vision, one of its core functions or strategic themes, or high-value cross-functional processes. In contrast, functional risks affect ongoing management or administrative processes, which are often confined to one or a limited number of functions at the University. Differentiating between these two “risk altitudes” is important to streamlining the ERM process.

UMB’s health care, human services, and law professionals see solutions where others see only problems. I want each person at UMB to have a passion for service and be driven to fulfill it, to understand the urgency of stepping up to be a problem solver, and to be unafraid to take risks to help those in need.

UMB President Bruce E. Jarrell, MD, FACS, in his inaugural address on Nov. 5, 2021

ERM in higher education, and specifically within the University System of Maryland, has been recognized as an important process required to manage risks and opportunities across the institution in an effective manner to meet mission objectives.

We look forward to you learning more about the University of Maryland, Baltimore’s (UMB) ERM program. Please contact ERM-Program@umaryland.edu with feedback or questions.

Read President Jarrell's full thoughts on enterprise risk management in the March 2022 President's Message

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Enterprise Risk Management

UMB President Bruce E. Jarrell, MD, FACS, in his inaugural address on Nov. 5, 2021