The goal of Notre Dame’s institutional risk management (IRM) program is to empower the University community to pursue academic, research, and operational excellence by proactively identifying, understanding, and managing risks. Rather than avoiding risk entirely, IRM helps campus constituents acknowledge risk factors while protecting our people, assets, and reputation.
What is IRM?
In a complex higher education environment, risk exists everywhere—from data security and regulatory compliance to emergency preparedness and global research activities. IRM is a holistic, institution-wide approach to managing uncertainty. Unlike traditional risk management, which often focuses narrowly on insurance and safety compliance, IRM looks at the bigger picture. It connects risk decision-making directly to Notre Dame’s strategic priorities.
Objectives of IRM
- Protect the Campus Community: Safeguard the health, safety, and well-being of our students, faculty, staff, and visitors.
- Support Strategic Goals: Enable leadership to explore new opportunities with a clear view of potential rewards and vulnerabilities.
- Enhance Decision-Making: Provide consistent data, frameworks, and insights to inform resource allocation and planning across departments.
- Foster Resilience: Ensure the University can effectively respond to, recover from, and adapt to disruptive events.
IRM Lifecycle
Risk management is a continuous process integrated into normal University operations:
- Identify: Recognize potential events or changes that could impact unit or university goals.
- Assess: Evaluate the likelihood and potential impact of identified risks.
- Mitigate: Develop practical strategies to manage, reduce, or transfer risk exposure.
- Monitor & Report: Track risk trends and periodically review mitigation strategies with leadership and stakeholders.
A Shared Culture of Ownership
While our department provides frameworks and guidance, institutional risk management belongs to everyone. Every unit, department, and team member plays a role in creating a culture of awareness, transparency, and continuous improvement.