Risk Assessment Template
IA&ERM has created a standardized risk assessment template for the university community to use when conducting risk assessments at any level of the university, especially for those that are complex in nature.
This template supports you in:
- Executing and documenting a comprehensive risk assessment.
- Collaborating with pertinent stakeholders, subject matter experts (e.g., legal), and management to ensure alignment during the risk assessment review.
- Making well-informed decisions and proactively implementing risk mitigation strategies, including internal controls, as necessary.
Examples of when to employ the risk assessment template include a large project, change, new process, challenge or issue. It’s a useful documentation tool that allows us to align, ensure all relevant risks are identified and sufficient mitigation strategies are in place to manage the risk responsibly.
Appendix B, Enterprise Risk Management Process Guide in the framework is a helpful resource in learning how to utilize the risk assessment template. It provides an overview of the ERM process that should be used for all risk assessments.
If you require additional support when using this template and/or risk assessment, please contact Shannon Boodhoo.