Enterprise Risk Management Program Overview
Buffalo State University understands the significance of prioritizing a strong emphasis on internal control and risk management, especially in light of the evolving landscape of both external and internal risks. These risks encompass various areas, such as cybersecurity, fraud, and other pertinent issues. In response to this awareness, the university's leadership team strategically decided to consolidate its internal control and risk management programs into one cohesive program in 2021.
By merging these two essential programs, Buffalo State University will continue to enhance its ability to effectively manage and mitigate risks. This comprehensive approach allows the university to streamline its efforts, optimize resources, and establish a unified framework for addressing internal and external risks. The integration provides a more holistic and integrated approach to risk management, ensuring the university is well-prepared to handle the challenges of an ever-changing environment.
The consolidation of the internal control and risk management programs demonstrates the university’s commitment to proactively addressing risks that are complex and dynamic. By combining these programs, the university can better identify potential vulnerabilities, implement appropriate controls, and develop proactive risk mitigation strategies.
This unified program enables the University to cultivate a risk awareness and accountability culture across all institution levels. It will foster collaboration and communication among various departments, promoting a shared understanding of risk management practices. Ultimately, integrating the internal control and risk management programs reinforces the university's commitment to maintaining a secure and resilient environment for its students, faculty, and staff.
Buffalo State University recognizes the importance of consolidating its internal control and risk management programs into one cohesive program. This strategic decision reflects the university's proactive approach to addressing the challenges of evolving risks, such as cybersecurity and fraud. By merging these programs, the university aims to enhance its ability to effectively manage and mitigate risks, ultimately ensuring the safety and security of its community