UMB’s enterprise risk structure is tailored to the two broad risk types found at the University: institutional and operational. 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, operational risks affect ongoing management or administrative processes, which are often confined to one or a limited number of functions on campus. Differentiating between these two “risk altitudes” is important to streamlining the ERM process.

To match these risk types, UMB’s ERM organizational structure will contain two main committees as well as an administrative support piece. The Council of Advisors in Leadership Involved in Broad Risk Analysis Throughout the Enterprise (CALIBRATE) will focus on high-priority institutional risks, making recommendations to the president and executive leadership as appropriate. It will be led by the provost/executive vice president. The Enterprise Risk Implementation Committee will review administrative and operational-level risks and be led by the assistant vice president for enterprise risk management. The ERM team will support both committees, serve as a University hub for risk-related information sharing, and harmonize school and unit risk management efforts

The success of the ERM program is directly dependent upon individuals at every level of the institution, and across all schools and departments, working together.

The structure of our program has been established to promote opportunities for broad input to support identification and prioritization of potential risks and opportunities across the University and to allow for strategic decision-making in the allocation of our resources in an effective manner.

The structure of our ERM program, outlined below, is intended to foster and facilitate collaboration and communication so that leadership recommendations and decisions will be made on a fully informed basis.

University System of Maryland: Board of Regents and Chancellor

The Board of Regents of the University System of Maryland approved its Enterprise Risk Management policy in November 2019. The policy "formalizes expectations of each University System of Maryland institution to establish an ongoing system of risk management appropriate to the institution’s mission and strategic initiatives" and establishes reporting expectations and processes for key risk items.

UMB President

The president — after consultation with UMB executive leaders and the CALIBRATE Committee — will have final responsibility and authority for all ERM program decisions.

CALIBRATE Committee

This senior-level advisory committee will focus on high-priority institutional risks, making recommendations to the president and executive leadership as appropriate. It will be led by the provost/executive vice president, with committee members representing schools and key administrative units.

Enterprise Risk Management Implementation Committee (ERMIC)

This committee will meet several times a year and review administrative and operational-level risks. It will be led by the assistant vice president for enterprise risk management, with a broad range of committee members representing various mission areas, functions, and shared governance perspectives.