Can you share your approach to managing institutional risk and liability? - Navigating Careers in Education with Purpose

Sample interview questions: Can you share your approach to managing institutional risk and liability?

Sample answer:

Risk Assessment: Systematically identify, assess, and prioritize potential risks and liabilities that the institution may face, such as legal liability, financial risks, reputational damage, environmental concerns, health and safety threats, and cybersecurity risks.
Risk Mitigation: Develop and implement strategies to proactively reduce or eliminate identified risks by implementing policies, procedures, and controls. This might include measures such as enhancing security measures, improving building safety, implementing IT risk management solutions, conducting regular risk audits, and training staff on risk identification and mitigation.
Compliance Management: Ensure the institution’s compliance with applicable laws, regulations, and accreditation standards. Implement a robust compliance monitoring and oversight program, including regular compliance audits, training, and communication to staff.
Risk Communication: Foster transparent and effective communication regarding risk and liability among key stakeholders, including board members, faculty, staff, students, and the broader community. Disclose risks and liability information in a clear and timely manner.
Crisis Management: Develop and maintain a comprehensive crisis management plan that outlines roles, responsibilities, and actions to be taken in the event of a crisis. Conduct crisis management simulations and training exercises regularly.

Read full answer