The Board of Regents (BOR) prioritized the establishment of an enterprise risk management (ERM) process across the Montana University System (MUS). ERM is a disciplined process to identify, assess, respond to and report on key risks/opportunities to advance the MUS mission and create value for stakeholders. ERM helps inform MUS senior management and the BOR of the most critical risks to the strategic success of the MUS. 

ERM Charter

The MUS Enterprise Risk Leadership Council Charter is the governing document that outlines the purpose, organization, and responsibilities of ERM stakeholders across the system. The Charter establishes a formal, principles-based approach to identifying, managing, and monitoring risks across the MUS. Risk assessments from campuses are compiled by the Director of Assurance and Enterprise risk and presented to the Board of Regents annually. The ERM process is depicted in the MUS ERM Flowchart.

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ERM Funding

The goal of the MUS ERM program is to create value through enterprise-wide integrated and holistic risk management. To help facilitate this process for stakeholders across the MUS, Office of the Commissioner of Higher Education (OCHE) offers funds (as available) for projects, equipment, software, training, or other services that may support the management of risks at campuses and across the MUS. To be eligible for approval of funds your campus must sign, date, and return the application below by May 1st.

Risk Management and Tort Defense Division – ERM Discount Program

The Department of Administration, Risk Management and Tort Defense Division (RMTD), in consultation with the OCHE, may offer a 2.5% general liability insurance premium discount to campuses that implement effective ERM programs. The discount shall be applied against the participant’s budgeted general liability insurance premium in the next fiscal year. Notice of election forms are due by June 15th every year.