UNC System Governance

UNC Board of Governors Committee on Audit, Risk Management, and Compliance (CARMC)

UNC System Code 100.1.3 Section 301 (G) provides the CARMC shall:

  • Recommend for approval University-wide policies regarding… enterprise risk management…; and
  • Take such other actions as are necessary or appropriate to ensure that risks are identified and properly managed…

Hence, in March of 2016 the CARMC received BOG approval for UNC System Policy 1300.7 – University Enterprise Risk Management and Compliance.

Risk Review Board (RRB)

As indicated in the January 2021 meeting materials of the UNC Board of Governors ACERM Committee (pp. 4-10):

Voting membership of the RRB is the Chief Operating Officer, Chief of Staff, Chief Financial Officer, and General Counsel.

The RRB will ensure proper consideration and guidance is provided related to mitigation efforts around shared risks between the UNC System Office and constituent institutions1. Key functions include:

  • Analysis of enterprise risk related matters
  • Leading and guiding on risk tolerance
  • Assessing risk treatment options
  • Risk-based decision evaluation and action
  • Governing the implementation of BoGs’ policies relevant to risk
  • Leading risk alignment across the UNC System

UNC System ERM Advisory Team

A cross-institutional group of ERM subject matter experts who typically have ERM primary oversight responsibilities at their respective institutions. The ERM Advisory Team:

  • Advises the VP for Compliance and Audit Services on promoting the establishment of and improving collaboration among the ERM programs at the constituent institutions.
  • Supports ERM training and educational efforts at constituent institutions.

The UNC Charlotte Chief Risk Officer actively participates on the UNC System ERM Advisory Team.

UNC System ERM Affinity Group

A broader cross-institutional group of constituent institution personnel who have some responsibility for, or generally support, ERM at their respective constituent institutions. The ERM Affinity Group:

  • Serves as the more tactical arm of the UNC System ERM Program. They meet at least quarterly to receive training and insights on ERM matters, Advisory Committee priorities, and CARMC direction.
  • Serve as risk specific subject matter experts providing the Advisory Committee insights into more granular risk management topics and emerging risks.

UNC Charlotte Affinity Group participants include: Chief Risk Officer, Chief Audit Officer, Director of Ethics, Policy, and Compliance, Director of Risk Management, and General Counsel.