In this era of increased uncertainty, institutions with effective enterprise risk management (ERM) programs face fewer problems and failures than those without them, and they are uniquely prepared to capture emerging opportunities for growth and innovation. A sound risk management program makes institutions more likely to achieve strategic objectives, while the lack of one reduces the likelihood of strategic success.
Although independent school leaders see the value of proactively managing risk, they often struggle to achieve it. In a recent United Educators study, only 43 percent of business officers surveyed agreed that risk management is a part of their school's strategic planning documents, and a mere 15 percent reported that they maintain a risk register identifying the risks most critical to mission success. Effective institution-wide risk management programs require engagement from senior leadership and board members. This workshop will introduce you to a recommended risk management approach for independent schools, with a unique focus on your school's strategic plan. You will:
Identify and mitigate threats to your strategy
Receive practical guidance for establishing and sustaining a risk management program
Perform risk management exercises with easy-to-use resources that will help you learn how to keep your ERM program manageable
Explore methods to engage stakeholders in advancing risk management
Business officers are encouraged to participate in this workshop with their head of school, boards and/or other school leaders, however, the program will be just as valuable to business officers who attend as the sole representative of their school. Participants are requested to bring a copy of their school's current strategic plan.