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Western's Integrated Stewardship of Resources (WISR) is a simple and effective enterprise risk management (ERM) program developed for the Division of Business and Financial Affairs (BFA).

ERM goes beyond traditional risk management activities like insurance, claims and loss prevention.  An enterprise risk is anything that poses a potential barrier to achieving an organization’s objectives.  ERM is a holistic, enterprise-wide approach towards managing strategic, operational, compliance, financial and reputational risks within an organization’s risk appetite goals.

With support from the top, ERM breaks down management silos, enables more effective control and mitigation of risks, and provides enhanced assurance that an organization will meet its objectives by minimizing loss and maximizing opportunities. Taking unidentified and unplanned risks costs money and reduces efficiency. 

By creating a proactive management culture that encourages employees at all levels to identify, assess and mitigate enterprise risks, ERM helps to focus an organization’s limited resources on its primary mission. 

Richard Van Den Hul, Vice President for BFA, encourages all employees within the division to identify, assess and manage enterprise risks while pursuing BFA’s Core Purpose and Core Values in support of the WWU Strategic Plan and Western's Initiatives. All enterprise risks should remain within the division’s risk appetite goals.

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