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UW Finance

Potential Areas of Risk

Potential areas of risk will vary by unit and organization.  Below are areas to consider when conducting a risk assessment:

Compliance Risks


  • Contractual (leases, sponsors)
  • Regulatory & statutory (labor law, human subjects, air quality, contamination)
  • Industry standards
  • Grants and contracts
  • Human subjects and animal care
  • Faculty effort certification
  • UW Faculty Code
  • Scholarly integrity

Financial Risks


  • Penalties & sanctions
  • Loss of revenues
  • Exchange rate losses
  • Purchasing practices
  • Lawsuits for damages & injury claims

Operational Risks


  • Student Life
  • Computing systems
  • Data security and management
  • Personnel safety
  • Permits & licenses
  • Facilities security
  • Environmental management
  • Capital Project management
  • Adequate space for programs
  • Emergency and disaster planning

Strategic Risks


  • Business partnering and alliances
  • Institutional standing
  • Institutional culture of compliance
  • Advancement strategy

Reputational Risks


  • Failing to manage effectively compliance, financial, operations, or strategic risks
  • Reputation with Alumni

Unfunded Mandates


  • New policies and procedures without implementation resources
  • Legislative actions and mandates
  • Settlements at the UW level.

Accreditation Risks


  • Recruiting and retaining faculty
  • Lack of financial aid to recruit the best and brightest students
  • Time-to-degree management

Employment Issues


  • New employment policies and procedures without implementation resources
  • Competitive Compensation - Retention
  • Non-discrimination:  EEOC, FMLA, ADA and other regulatory
  • Unit settlements

Business Climate Risks


  • Job opportunities for students
  • Industry and Foundation grant opportunities
  • IT and Royalty opportunities