In May of 2012 The Board of Regents put System Policy 16.01 into effect; this policy outlines the framework for all System members to create a System Ethics and Compliance program. The ethics and compliance program is meant to assess and ensure compliance by the officers and employees of the system or a member with applicable laws, rules, regulations, and policies. Also approved in May, System Regulation 16.01.01, System Ethics and Compliance, states that each system member is required to set up an infrastructure (committee) to systematically identify and address risks so that faculty and staff are aware of their ethical and compliance responsibilities.
Your member institutions ERM committee will be identifying and mitigating many of these same opportunities and risks as the compliance program. It is System Risk Managements goal to ensure that duplicate efforts are not being carried out and there be a partnership of these two committees. Working together will assist both committees with the identification of different risks, strategizing the best mitigation efforts, and promoting a culture of risk management as well as achieving high levels of ethics and compliance. Working together and sharing resources will maximize the effectiveness of both committees.