Enterprise Risk Management Advisory Committee (ERMAC)
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 President endorses the ERMAC and plays a vital role in the University’s enterprise risk management process. The committee shall meet during the fall and spring semesters and is chaired by the University’s Enterprise Risk Management Officer (ERMO). ERMAC membership comprises individuals with leadership roles across the College, including Associate Vice Presidents, Deans, and divisional Directors focused on overseeing 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 practices and 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 integrate risk awareness and management into the culture successfully 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 recommend mitigation plans and strategies to help reduce their likelihood and impact.