Webinar: Assessing Risk on the Community College Campus - How Should a Campus Structure its Internal Processes to Mitigate Risk?
Traditional risk management approaches tend to focus on loss prevention rather than adding value. Does your organization adhere to this approach? Find out about redefining the risk management value proposition in today's challenging higher education environment.
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Held on: June 21, 2006
Duration: 1 hour
Presenters:
Joe Freiburger, Associate Director, Protiviti
Lynda Ramirez-Blust, Associate Director, Protiviti
Who Attended:
- Community College Presidents
- Trustees
- Business Officers
- Administrative Staff
With the heightened focus on risk management, it has become increasingly clear that traditional risk management approaches do not adequately identify, evaluate, and manage risk. Traditional approaches tend to be fragmented, treating risks as disparate and compartmentalized. These risk management approaches often limit the focus to managing uncertainties around physical and financial assets. Because they focus largely on loss prevention, rather than adding value, traditional approaches do not provide the framework most organizations need to redefine the risk management value proposition in this rapidly changing world.
Learning Outcomes:
- Understand how to conduct a risk assessment
- Effective techniques used to perform a successful risk assessment process were described. Risk assessment is a core component of the COSO framework. Ways to complete the assessment and pitfalls to avoid were presented.
- What to consider in an appropriate risk response plan
- Once you have completed the risk assessment and prioritized your college’s risk areas, it is important to create a useful responses plan. Some of the things to consider for inclusion in your plans to mitigate risk were discussed.
- Creating effective control activities
- The creation of control activities or effective policies and procedures, is yet another step toward the development of a strong intern control environment. Ideas relative to policies and procedures that my be useful on your college campus were described.
All of these elements fit within the COSO structure and will put you well on your way toward mitigating risk in your organization.
Presenters' bios:
Joe Freiburger, Associate Director, Protiviti
Joe has a very strong background in internal audit and has over 30 years of experience in the development and management of internal audit departments. He also has hands-on experience in an operational capacity. He has performed a number of risk assessment engagements in a variety of organizations, large and small, start-up and long-standing, state supported and private institutions. He holds a B.S. and a Master’s degree in Business, along with multiple professional certifications. (CPA, CIA, CISA) He currently works out of the Washington, DC office of Protiviti serving the internal audit and risk needs of Higher Ed clients.
Lynda Ramirez-Blust, Associate Director, Protiviti
Lynda has over 11 years of experience working with nonprofit organizations on a range of topics including Governance and Sarbanes-Oxley Act Compliance. Prior to joining Protiviti, Lynda was the Chief Financial Officer for Share Our Strength. Prior to joining Share Our Strength, Lynda was a consultant and financial statement auditor with Arthur Andersen. Lynda has served as both the Treasurer and member of the Board of Directors of a community health center and volunteered with a number of not-for-profit organizations in various capacities. Additionally, she successfully completed Georgetown's Non-profit Executive Management Certificate Program.
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