![]() ![]() SRM acts in an intermediary capacity for many risk management programs between each institution risk manager and the Bureau of State Risk Management (BSRM) in the Department of Administration. The Hierarchy of Risk Management Responsibility within the University of Wisconsin System: Monitoring and fine tuning the risk management tools which have been implemented is necessary to achieve the maximum benefit from the risk management effort. Once a risk management tool(s) has been chosen, implement the tool according to developed procedures. Since the University System is self-funded for many of the various exposures, it is in our best interest to use risk control, risk avoidance, and risk transfer as much as possible to reduce the cost of retention. Risk Retention–decide to bear the risk at an acceptable level.Risk Transfer–via insurance or contractual language. ![]() Risk Control–reduce chance or size of loss, or make the likelihood more certain. ![]()
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