Judy is the author of “Higher Education Compliance: Blueprint for Success” and is the author of over 25 peer-reviewed journal articles in the field of ethics and social responsibility. Correct deficiencies you might have found in step 1. That provides a fascinating look at how risk assurance teams need to consider new risks and remediation measures as their organizations weather the COVID-19 crisis. Protecting the proprietary information that goes into and comes out of those projects is another challenge, especially given the rise in nation-state cyberattacks. 1 https://www.washingtonpost.com/news/grade-point/wp/2018/01/27/higher-education-is-headed-for-a-supply-and-demand-crisis/?utm_term=.917e977e9658, Cynthia is a Deloitte Risk & Financial Advisory managing director at Deloitte & Touche LLP’s Government & Public Services practice and assists federal clients in developing and implementing Enterprise... More, Mark is a leader in the Deloitte & Touche LLP's Government and Public Services practice serving as the sub-sector leader for Higher Education in Deloitte’s Risk & Financial Advisory services business.... More, Cole is a managing director within the Higher Education practice at Deloitte Services LP. But to effectively manage today’s security risks, someone needs to oversee the entire operation. Operational resilience is an organization’s ability to keep providing services to customers, despite a sudden disruption. Business model risks challenge an institution's ability to generate adequate revenue and, in some cases, to even exist. The primary activity of the organization is: educational institutions and related activities. Website Design & Implementation by Matrix Group International, ©2020 Higher Education Compliance Alliance, Diversity, Equity and Inclusion (DEI) Resources, AACRAO’s Criminal and Disciplinary History in College Admissions Report. Institutions of higher education (IHEs) are besieged by risk, especially cybersecurity and information security risk.Risk management for these institutions is critical but also extremely challenging, like trying to juggle balls and lighted torches all at once. Some examples: “The reality is that by the time an organization implements new risk management strategies and procedures in response to COVID-19, your risk profile may well have changed again.”. For example, older institutions founded in the 19th or 20th centuries that have relied on traditional modes of on-campus teaching for generations might not be as adept at online delivery as newer competitors. End-to-end, automated and continuous vendor risk management and reporting software. We can identify a few basic steps. Higher Education Security and Compliance: Compliance is one of the biggest challenges of the modern higher education system, and BlackStratus is perfectly equipped to help.

Digital problems call for a digital solution. Board Certified Life Coach, Center for Credentialingand Education.

Judy is a licensed attorney and member of the Kentucky, Ohio, New York and Pennsylvania Bars. Keeping an entire higher education institution safe and resilient is an enormous job—too big for just one person, and maybe for an entire team. Learn more about our rebrand story. Please note that if cookies are disabled, not all features of our websites may operate as intended. What boards and regulators want to know about operational resilience. Universities, colleges, faculty, admin, and students all need to adjust to a new world of risk with COVID-19. Walls of separation need to tumble down, and the complete IT infrastructure needs to be managed as a cohesive whole.

Higher education leadership and governance bodies are expected to remain compliant with a growing array of state, local, federal, and private regulations. For example, governments may have changed closure dates for local businesses, or approved emergency funding. +1 604 669 4225. They raise public awareness of the school, reaching prospective […], Effective student success initiatives begin long before that first day of classes and often continue beyond graduation. Higher education institutions do not need to have all the answers to all the risks they face, but they can be more aware of the increasingly wide spectrum of threats affecting them and thus more proactive. ​Looking at recent examples of brand and financially-damaging events, five broad categories emerge: Business model risks, reputation risks, operating model risks, enrollment supply risks, and compliance risks. The fundamental objectives of higher education remain the same: serving students, preserving academic integrity, complying with state and federal regulations, and achieving budgetary and financial goals. All rights reserved. By taking an “enterprise” approach to risk management, universities can be more proactive and prepared; avoiding, accepting, mitigating, sharing, or exploiting risk where possible, or responding to higher education issues and challenges more effectively when they arise. Other parts of society are examining the shift to virtual learning resulting from COVID-19, and what the long-term effect of that might be on the higher education sector—questioning whether traditional on-campus classrooms and lectures are necessary, as evidenced in this recent article from Harvard Business Review. Firstly, universities and colleges need to appreciate what the challenge actually is. Lost your password? All these generate sensitive data, which must be protected—typically, not by a centra. is helpful for ensuring the effectiveness of controls of third-party service providers such as IT service vendors. Long association with the National Association of Higher Education and Disability (AHEAD) specifically KY AHEAD Organization serving in all posts including President, Treasurer, Secretary, and Conference Chair. By: Web Editor | Issue: February, 2018 January 30, 2018 . is a useful framework for compliance with federal security regulations regarding government contracts. )

Technology that empowers people to work remotely while working as a team is essential. SOX & internal control management. Re-assessing the higher education risk landscape. V6Z 0C8 Every industry is experiencing profound change and ongoing challenges during the COVID-19 pandemic, but few have experienced quite as much business disruption as the higher education sector. Reputation risks Reduce costs and increase assurance by automating manual and repetitive work.

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