For Immediate Release
WASHINGTON, DC (April 8, 2020)—The Association of Governing Boards of Universities and Colleges (AGB), the premier organization representing higher education governance, today published Risk Management: An Accountability Guide for University and College Boards, Second Edition in an effort to provide timely, relevant guidance to governing boards about effective risk management. As higher education institutions work to navigate the far-reaching implications of the COVID-19 pandemic, this publication serves as an indispensable resource for boards. This new guide is available at AGB.org/RiskManagement.
Veteran trustee and university leader Janice M. Abraham co-authored the publication with three of her United Educators (UE) colleagues to prepare boards to foster a culture that embraces and prepares for risk, and to help senior administrators develop and support the board in providing appropriate oversight. Her co-authors are Sarah Braughler, Liza Kabanova, and Justin Kollinger.
“If higher education ever needed to fully engage with a comprehensive risk management program, now is the time,” said Abraham, UE president and CEO. “COVID-19 sharpens the focus on short-, medium-, and long-term risks and opportunities. In the short term, the focus must be on the safety and health of our community; in the medium term, 2021 enrollment; and in the long term, potential mergers and shifts for online learning and funding priorities that demand boards lean into enterprise risk management.”
The new edition builds on the importance of enterprise risk management (ERM), introduced in the first edition, as a process that administrators can use in collaboration with their boards to assess and manage institution-wide risks and the forces that shape the risk environment for higher education. This new version also reflects the latest expert thinking on how to approach ERM comprehensively. It underscores how risk oversight has evolved in the past few years, offering chapters such as “Risks to Strategic Direction,” “Risks to Institutional Resources,” “Risks to the Student Experience,” and “Advancing Reputation.” This new version also contains questions that boards can ask to assess the next stage in the risk management process.
The second edition also adds a level of understanding about how the maturation of institutional risk management should progress to reach higher levels of ERM practice.
“The vast unforeseen implications of the coronavirus pandemic are now a reality that all institutions and their governing boards are grappling with,” said Henry Stoever, AGB president and CEO. “This book provides practical insights and guidance that boards can use to proactively oversee risk, both in terms of responding to unexpected crises and preparing for what’s to come.”
A complimentary e-book version of Risk Management, Second Edition is available for members to download on the AGB website. A hard copy format is available for purchase with a membership discount.
The Association of Governing Boards of Universities and Colleges (AGB) is the premier membership organization that strengthens higher education governing boards and the strategic roles they serve within their organizations. Through our vast library of resources, educational events, and consulting services, and with nearly 100 years of experience, we empower 40,000 AGB members from more than 2,000 institutions and foundations to navigate complex issues, implement leading practices, streamline operations, and govern with confidence. AGB is the trusted resource for board members, chief executives, and key administrators on higher education governance and leadership.
About United Educators
United Educators (UE), a reciprocal risk retention group, is a licensed insurance company owned and governed by more than 1,600 member schools, colleges, and universities throughout the United States. Members range from small independent schools to multi-campus public universities. UE partners with its members to reduce risk through education-specific insurance coverage and risk management programs. UE’s comprehensive suite of resources is designed to engage the entire campus community—faculty, staff, and students—in managing risk. For more information, visit www.ue.org.