Buffalo State believes that one of the most effective components of a good Enterprise Risk Management Program is the engagement of an Enterprise Risk Management Advisory Committee (ERMAC). The ERMAC is endorsed by the President and plays a key role in the College’s enterprise risk management process. The committee shall meet on a quarterly basis and is chaired by the College’s Enterprise Risk Management Officer (ERMO). ERMAC membership is comprised of individuals with leadership roles across the College, including Associate Vice Presidents, Deans, and divisional Directors focused on oversight of internal control and risk management related activities at Buffalo State.
The Committee is primarily charged with reviewing, prioritizing, and communicating risk mitigation efforts from a global perspective to develop best practice and/or industry standards. The Committee will work to identify and manage the highest risks that BSC faces with the assistance of Subject Matter Experts throughout the college. They are also charged with developing and communicating ways to successfully integrate risk awareness and management into the culture and ultimately the strategic decision-making process. The Committee will work in an advisory capacity to the Enterprise Risk Management Officer (ERMO) on risk-related issues and concerns, as well as recommending mitigation plans and strategies to help reduce their likelihood and impact.