The role of the Chief Risk Officer (CRO) has often been centered around audit, compliance, crisis response, and insurance. However, today’s complex, high-stakes, and rapidly changing higher education environment demands risk leaders who think beyond controls and instead shape strategy.
At Florida A&M University (FAMU), my career journey from Associate Vice President of Audit/ CRO to Deputy Chief Operating Officer and Associate Vice President for Enterprise Risk Management exemplifies this evolution.
The Case for a Strategic CRO in Higher Education
Risk today is interconnected. A single technology decision may have financial, operational, reputational, and compliance implications. Universities require risk leaders who can:
- Anticipate emerging issues before they materialize
- Integrate risk data into planning and budgeting
- Communicate risk in ways that engage faculty, staff, leadership, and the board
- Drive collaboration across siloed departments
- Identify opportunities embedded in uncertainty
A strategic CRO goes beyond managing threats to unlocking value by informing better decisions.
Redefining the CRO Function at FAMU
When I was asked in August 2021 by the university president to create and lead FAMU’s Enterprise Risk Management (ERM) function, it operated as a component of the Division of Audit. This was valuable as it increased oversight, heightened responsiveness, and established relationships with management while gaining board buy-in. However, as the program matured, we recognized that true ERM required deeper integration into strategic planning, budgeting, and operations, resulting in an integration that would not compromise audit independence if maintained under the same umbrella.
This realization drove our structural evolution toward independent, strategically-focused risk management. In July 2024, we decided to reposition ERM directly under the Offi