Brown University will establish and employ a comprehensive risk management framework to identify, assess, manage and monitor the risks arising as a result of our pursuit of strategic objectives, and the operation of our University. The framework will include a comprehensive suite of risk policies, procedures, measurement, reporting and monitoring techniques to ensure that Brown’s risk exposures are managed appropriately. 

Brown has achieved success and notoriety as a leading institution of higher education due to bold actions by its leaders throughout its existence.  These actions have included measures to seize opportunities and manage or avoid threats, that may not previously have been labeled risk management activities, and which we would consider central to our risk management process today.  

In 2004, the University determined that it would benefit from a more formal risk management process, and established a risk management process lead by Russell Carey, and Stephen Morin.  A cross-functional Risk Management Committee was formed, and multiple risk assessments we completed for the University.

In 2018, Brown executive leadership and the Corporation elected to assign a dedicated resource to the risk management process, and hired a Chief Risk Officer to build upon the foundation established by Messrs. Carey and Morin.