- Identify, evaluate and assess the most significant risks and exposures arising out of The University of Texas System's operations in a systematic and on-going basis.
- Select and develop the most effective techniques or combination of techniques to reduce risk.
- Implement realistic and cost-effective loss prevention and control procedures to minimize the frequency and severity of losses.
- Monitor the overall effectiveness of The University of Texas System's risk management processes.
- Include principals of risk management in the decision process for adoption of new programs, services and facilities.
- Assure The University of Texas System's risk financing strategy balances retention of uninsured risk and those risks underwritten through commercial insurance in a manner consistent with available financial resources and public expectations.
- Emphasize and enhance Systemwide communication regarding best practices in administering risk management processes and programs.
