All ERM programs need to provide timely and consistent output to a cross section of stakeholders, ranging from corporate executives to operations professionals. Internal standards and external regulatory and compliance requirements must be factored into risk and control decisions. Additionally, internal governance models and collaborative team structures will differ widely across enterprises, affecting the way decisions are made and controls implemented. Some types of organizations are generally risk-averse, while others promote risk cultures to pursue strategic initiatives. To maintain business continuity, an enterprise needs to assess its tolerance in pursuit of strategic goals. A migration into cloud services, for example, definitively changes many controls and risk paradigms. An organization's planned strategic initiatives must be included in all risk analysis and decision-making. What are the components of enterprise risk management? Why is enterprise risk management important?Īn ERM program can help increase awareness of business risks across an entire organization, instill confidence in strategic objectives, improve compliance with regulatory and internal compliance mandates and enhance operational efficiency through more consistent applications of processes and controls.Įnterprises can benefit by shifting their corporate culture from a focus on meeting IT compliance obligations to targeting overall risk reduction, which relies heavily on visibility into the overall security of the organization.
In an increasing number of industries, boards of directors are required to review and report on the adequacy of risk management processes in their organizations. Industry and government regulatory bodies, as well as investors, are more closely scrutinizing enterprises' risk management policies and procedures. Enterprise risk management includes financial risks, strategic risks, operational risks and risks associated with accidental losses.Įxternal factors are fueling the heightened interest in ERM. One cool item about Victoria is that she is former Marine Mammal Assistant Trainer at the National Aquarium where she worked alongside seven Atlantic Bottlenose Dolphins.Enterprise risk management is the process of planning, organizing, directing and controlling the activities of an organization to minimize the deleterious effects of risk on its capital and earnings. in Biology (minors in Chemistry and Mathematics) from Notre Dame of Maryland University. in Management (specialization in Interdisciplinary Studies) from UMGC and her B.A. Victoria originally joined UMB in 2016 in the School of Medicine as a Research Assistant in the Department of Anesthesiology. Previously, Victoria worked in the School of Medicine at UMB as Lab Manager and Research Specialist in the Center for Epigenetic Research in Child Health and Brain Development in the Department of Pharmacology. As Manager, Victoria leads the way in the development of the ERM program to bring it to new heights through program development, data analytics, project management, relationship building across UMB schools and units, and related tasks. Victoria Meadows, M.S., servers as Manager of Enterprise Risk Management (ERM) Programs at UMB. He is a 2017 Leadership Maryland graduate, 2018 winner of The Daily Record’s VIP Award, and graduate of Harvard Kennedy School programs in Leadership Decision Making and Crisis Leadership in Higher Education.
ENTERPRISE RISK MANAGER PROFESSIONAL
He earned a law degree from the University of Maryland Francis King Carey School of Law, a bachelor’s degree from Boston College, and a professional certificate from UMB in Intercultural Leadership. Government Accountability Office and as law clerk for a federal judge. Previously, Jon served as Senior Commission Advisor at the Maryland Public Service Commission Deputy Legal Counsel to Maryland Governor Martin O’Malley Senior Attorney at the U.S. Also, since 2014, Jon has served each year as an adjunct professor at the University of Maryland Francis King Carey School of Law. for ERM, Jon leads UMB’s ERM program as it is evolving to embed, sustain, and support an entrepreneurial, collaborative, and responsible risk-taking culture across UMB. As Special Assistant, he supports the UMB president by providing professional, high-level staffing of the president and his agenda planning and coordinating long- and short-term projects in the university’s priority areas and acting as a liaison between the president’s office and key internal and external stakeholders. Jon Kucskar, JD, serves as Special Assistant to the President and Assistant Vice President for Enterprise Risk Management (ERM) at UMB.
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