Enterprise Risk Management Solution

The vendor is required to provide enterprise risk management (ERM) solution with critical features, including risk identification and assessment, existing control management and assurance, future control development and processing monitoring, audit trail and documentation, and analytics and reporting.
- The ERM solution should help university address the following:
•    Implement a centralized platform for identifying, assessing, managing and reporting risks.
•    Support the integration of strategic and operational planning with the risk management process.
•    Improve visibility and reporting of institutional risks.
•    Support compliance with best practice and provincial and federal guidelines and regulations.
•    Facilitate and monitor progress on resolution workflows.
•    Enable data-driven decision-making and risk mitigation strategies.
- Requirements encompass compatibility with existing it infrastructure, seamless integration with existing university systems, and compliance with applicable regulations and legislations.
- The ERM solution is also expected to provide implementation services, comprehensive training, and/or ongoing technical support and updates, which ensures that university is aligned with best practices and utilizes the solution to its fullest.