University of Manitoba Case Study
University of Manitoba Case Study
The University of Manitoba engaged MNP to implement a robust and culturally-responsive Enterprise Risk Management program.
CASE STUDY
Institution: University of Manitoba
Project: Develop a robust Enterprise Risk Management program and improve processes and compliance across departments
The University of Manitoba engaged MNP as part of their desire to implement a robust and culturally-responsive Enterprise Risk Management program. In addition to meshing with their Emergency Preparedness Plan, the new ERM program needed to consider the strategic risks of the institution to help increase the value of the organization as a whole. In order to be successful, the scope of the project needed to include a comprehensive assessment of the existing risk management capability and the development of a framework followed by strategic risk identification and assessment workshops that would result in an organization-wide strategic risk profile.
MNP worked closely with several members of the University’s staff, including the President, Executive Team, and the top 100 Directors, Deans and senior managers, who were all involved in the strategic risk identification sessions.
In addition to the project scope outlined, MNP undertook a comprehensive review of the Audit Services Department and was engaged by the University’s Finance Department to review and restructure the research expenditure compliance process.
Results: MNP’s team was able to assist the University in the development and implementation of an ERM framework and process, risk management tools and templates, governance structure and an institution-wide risk profile. The team delivered and executed a three year, risk-based Internal Audit Plan and designed a new process for research expenditure compliance that could be implemented to ensure compliance rates were improving and satisfying Tri-Council’s compliance Objectives.
Insights
-
Confidence
Climate transition risk and financial institutions
Canada's financial institutions are uniquely exposed to risk as domestic and global economies seek to address climate change. The results of a federal pilot project shed light on how the financial sector is responding, and the necessary steps to thrive in a net zero business environment.
-
Confidence
October 07, 2024
The 7 principles for responsible AI use in local government
Artificial intelligence holds great promise for local governments, but also new risks, like privacy and cyber security concerns.
-
Progress
October 07, 2024
Choosing the right talent: A guide to employee ownership and profit sharing plans
Boost business growth and employee loyalty with a well-structured ownership or profit-sharing plan that aligns with your goals and rewards top talent.
