University of Minnesota
University of Minnesota
http://www.umn.edu/
612-625-5000
Office of Internal Audits
For reporting misconduct:     UReport »
Home
West Bank Office Building

University of Minnesota

Office of Internal Audit

1300 S 2nd St, Suite 510
Minneapolis, MN 55454

612-625-1368 (phone)
612-625-1512 (fax)

Institutional Risk Profile and Principles

Institutional Risk Profile
BUSINESS CHALLENGE
A - Campus Safety 
MF/FO
ST/O
 
B - Clinical Partnerships
MF/FO
ST/O
 
C - Collaboration w/Externalities & Joint Ventures
MF/FO
O
 
D - Decentralization
MF/FO
 
E - Employee Demographics/Succession Planning
MF/FO
O
 
F - Facilities - Maintenance, Scope, & Alignment 
FO
O
 
G - Faculty Retention 
MF/FO
O
 
H- Information Technology - Security/Failure/Resilence/Cost
FO
O
 
I - Intercollegiate Athletics
MF/FO 
O
   
J - International Activities
MF
ST/O
 
K - Legal & Regulatory Compliance
MF/FO
O
 
L - New & Disruptive Educational Models
 MF
   
M - Public Funding Reliability, Economic Climate, & Financial Sustainability
FO
O
 
 N - Representational Diversity
 MF
O
 
O - Shifting Enrollment Patterns 
MF
O
COMPLIANCE
P - High Risk Research 
MF
ST/O
 
 J - International Activitites
MF 
ST/O 
 
K - Legal & Regulatory Compliance
 MF/FO
O
 
Q - Research or Clinical Misconduct 
MF 
 O
INSTITUTIONAL INTEGRITY
R - Brand & Reputation Management
MF
 ST/O
 
S - Campus Climate & Free Speech
 MF/FO
 ST/O
 
T - Crisis Management
 MF/FO
 ST
 
I - Intercollegiate Athletics
 MF/FO
 ST/O
 
U - Sexual Misconduct - Prevention, Training, & Response
 MF/FO
ST/O 

Key:
Board Committee: FO - Finance & Operations; MF - Mission Fullfillment
Time Horizon: ST - Short-term; O - Ongoing

Institutional Risk Principles
May 2018

Preamble: By the very nature of its mission, the University pursues many activities that inherently create risk. It is the expectation that the risks associated with these activities will be mitigated in a responsible and accountable manner. The following principles are intended to provide a framework when assessing individual risk management decisions.

1. High tolerance for mitigated risks in the pursuit of innovatiave, breakthrough research, scholarhip and public engagement.

2. High tolerance for strategic risk-taking that has potential to enhance instructional quality.

3. High tolerance for strategic risk-taking to promote productivity, creativity and reputation.

4. Moderate risk tolerance for rewarded financial risk.

5. Low tolerance for risks posing potential for damage to the University's brand and/or reputation.

6. Low tolerance for risks arising from inappropriate discharge of fidciary responsibilities.

7. Low tolerance for risks that undermine actual safety, or the perception of safety, on our campuses.

8. Zero tolerance for international non-compliance with laws or regulations.