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Introduction to Enterprise Risk Management

Rather than addressing risks in isolation, the ERM office provides an integrated framework that enables leadership and stakeholders to:

  • Strengthen decision-making and strategic planning
  • Enhance institutional resilience and sustainability
  • Anticipate emerging risks and opportunities
  • Protect academic excellence, research integrity, financial health, and reputation

At McMaster, ERM supports proactive governance by aligning risk considerations with the University’s mission, values, and long-term priorities.

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ERM Objectives:

The Enterprise Risk Management Department works to:

  • Support achievement of strategic objectives
  • Enhance transparency and accountability
  • Improve leadership decision-making
  • Preserve institutional credibility while ensuring long‑term financial resilience.
  • Foster a culture of shared responsibility

Institutional ERM

The ERM program identifies key institutional risks that have the potential to disrupt McMaster University’s operations. These risks are analyzed, prioritized and closely monitored by the University’s ERM Committee, the President, Vice-Presidents and the Board of Governors.

View McMaster's Key Risk Categories

Governance & Reporting

ERM and Shared Responsibility: Risk management is a collective responsibility across the University:

Board & Senior Leadership: Provide oversight and strategic direction

Faculties & Departments: Identify and manage operational risks

Enterprise Risk Office: Facilitate, advise, analyze, and report

All Employees: Contribute to risk awareness and responsible practices

McMaster’s ERM Program aligns with internationally recognized risk management principles, emphasizing:

  • Structured and consistent processes
  • Integration with strategy and planning
  • Continuous monitoring and improvement
  • Transparent reporting and accountability

Through Enterprise Risk Management, McMaster University strengthens its ability to navigate uncertainty, protect its mission, and seize opportunities that advance teaching, research, and community impact.

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