Higher Education Risk Management Training: 3 Best Programs

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Colleges and universities encounter many potential hazards that can disrupt students and staff as they carry out their daily responsibilities. The board of directors plays a key role in shaping the institution’s approach to governance, risk, and compliance. To keep campus operations running smoothly, senior leaders must actively practice enterprise risk management (ERM).

An effective risk management strategy relies on multiple teams and systems working together to provide consistent oversight. For example, forming a compliance committee is a smart move, but even the most skilled team members need the right tools to sharpen their risk management skills and tackle modern challenges.

Keep reading to discover 3 top programs that can help you train for higher education risk management and learn how board management software helps senior leaders manage risk.

Overview: Higher Education Risk Management Training

Risk management is a key part of governance in all institutions of higher learning. Enterprise risk management helps universities raise their level of decision-making, make better use of resources, and maintain compliance with current rules and regulations.

To effectively manage risks, organizations must take a unified approach, as risk management can’t be a siloed effort, and departments shouldn’t have the option to opt in or out. The entire institution needs to come together, with risk committees, compliance managers, and other key stakeholders working together toward shared goals.

Using a compliance committee agenda during board meetings provides a clear roadmap for the risk management process, ensuring everyone stays aligned and proactive.

Risk management typically includes the following components:

Risk identification: Administrators gather data to find risks that could impact their ability to fulfill important objectives. Colleges and universities face many different types of risks, including insurance risks, strategic risks, financial risks, compliance risks, and operational risks.
Risk assessment: Involves evaluating the impact of each risk and its likelihood to occur. The organization can then prioritize risks to develop a risk profile.
Risk response: The university creates a plan to address and manage risks in a way that aligns with the vision for the institution.
Risk monitoring: Regularly review the effectiveness of your risk management process and determine the chances of risks taking place.
Risk communication and reporting: Summarize risk information and strategy updates to provide transparency for the board and external parties interested in the institution.

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Higher Education Risk Management Training Programs

Here are 3 higher education risk management training programs that we recommend:

1. Public Risk Management Association (PRIMA)

PRIMA has been providing training programs and educational resources to public sector risk managers for over four decades. It offers a four-day virtual enterprise risk management course, which is designed in line with the ERM international standard ISO 31000.

PRIMA runs the PRIMA Leadership Academy and hosts webinars to further help board professionals develop their understanding of the risk management process. The organization also releases a digital magazine, newsletters, and podcasts on the subject.

The price of PRIMA membership differs depending on the category you choose when signing up. Board members in the higher education space fall under the “Organizational Affiliate” category, which costs $415 a year.

2. United Educators (UE)

United Educators offers more than 40 courses on compliance and risk management in higher education. Those courses are supported by a resource library of 500 academic items that offer greater insight into topics including mental health, workplace behavior, and how to deal with sexual misconduct cases. UE also employs in-house risk management professionals to consult with boards in need of help.

Access to UE courses and resources requires signing up to become a member of their website.

3. American Council on Education (ACE)

Like the other training programs listed here, the American Council on Education offers courses, guides, and workshops where educators and board members can hone their risk management skills and become better governors.

Joining ACE connects you to a network of over 1,500 colleges and universities where staff can discuss modern issues and grow together through learning circles and in-person summits. Through the ACE Fellows program, leaders can improve their skills by working with a mentor on their campus for an academic year.

ACE does not accept individual members, but any institution of higher education can join its network. An ACE membership includes discounted registration rates for its programs, along with two weekly newsletters and access to research projects that explore risk-related topics in-depth.

Getting Started With AGB OnBoard

Integrating risk management into your operations helps to mitigate on-campus threats and creates a healthier environment for students and staff to succeed. Board management software drives this pursuit by streamlining a board’s ability to collaborate, track information, and safeguard key data.

AGB OnBoard features include an agenda builder, engagement analytics, and secure digital data storage to help board members to do their jobs regardless of their location.

To learn how AGB OnBoard can support your board’s mission, request a free trial today.

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About The Author

Adam Wire: Adam Wire is a Content Marketing Manager at OnBoard who joined the company in 2021. A Ball State University graduate, Adam worked in various content marketing roles at Angi, USA Football, and Adult & Child Health following a 12-year career in newspapers. His favorite part of the job is problem-solving and helping teammates achieve their goals. He lives in Indianapolis with his wife and two dogs. He’s an avid sports fan and foodie who also enjoys lawn and yard work and running.