Enterprise Risk Management in Healthcare and Higher Education
Learn about the importance of ERM in healthcare and higher education with Thomas Jefferson University.
In part two of our enterprise risk management (ERM) podcast series, Huron’s Calle Griffith, a research enterprise solution thought leadership associate at Huron, discusses ERM with Mark Anderson, the associate vice president of institutional integrity and governance at Thomas Jefferson University (Jefferson). Listeners will gain insight on the importance and purpose of ERM in both healthcare and higher education organizations, as well as what it takes to build the foundation of an ERM program.
"This process helped us identify the highest priority risks within the academic area"
Mark even provides an example of how the ERM process works from the front lines up to the board, as it pertains to the academic area:
We conducted a series of interviews of stakeholders within the academic pillar of Jefferson, and we asked them questions regarding the risks they see within the pillar. Given the work we do, these risks were mainly in two categories: education and research. We identified about 55 risks, and then in coordination with our academic partners, we assigned various metrics to these risks, such as likelihood, impact, velocity, management preparedness and risk tolerance. This process helped us identify the highest priority risks within the academic area.
Listen to the full podcast to hear more.Listen to Podcast