We use the term “Risk Services” to describe two closely-related functions:
Traditional risk management, which began some 400 years ago and primarily addresses insurable risks. Duties include administering the University’s insurance programs, coordinating litigation, reviewing insurance and indemnification language in contracts, and issuing insurance documents on behalf of the campus.
Enterprise risk management, which started in the late 1990s and early 2000s as a tool to identify and prevent organizational disasters like the Enron collapse and, more recently, the demise of BearStearns and the molestation scandal at Penn State.
We call ourselves "Risk Services" because we believe everyone is a risk manager, and our job is to provide the service and support you need to succeed in that role.
As part of its mission, the Office of Risk Services also handles:
- Policy access and coordination
- Delegations of authority
- Conflict of interest (non-research)
- Review and signature of travel and entertainment contracts below $50,000