Risk Management Advisory Committee
The Risk Management Advisory Committee (RMAC) is chaired by the Director of Risk Management. Representatives from each institution on the RMAC are appointed by the Chief Business Officers.
The responsibility for this committee is to develop and implement risk management programs, monitor claims against the institution, review records regarding property valuations, review contracts to evaluate the institutions exposure of risk; and maintain all insurance policies for the institution.
The mission of the Committee is to provide advice and make recommendations on the structure, policies and operation of the University's Risk Management program and to serve as the mechanism for the open exchange of information and ideas among institutions and System Administration's Risk Management Office with regard to risk management issues.
To accomplish its mission, the Committee must:
- 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 System-wide communication regarding best practices in administering risk management processes and programs.
RMAC Contact List (MS Excel).
