MIT created Risk Management & Compliance Services (RMCS) to provide a centralized framework for Institute-wide management of risk and compliance matters. Leveraging existing models and identifying areas where processes can be enhanced, RMCS assists the MIT community in taking informed risks and incorporating best practices for risk management and compliance in their Institute activities.
With risk management, RMCS provides an important resource for those who want a better understanding of how to recognize and appropriately accept and manage risk in their MIT activities. Key areas of risk at the Institute range from the safety and security of our community members to financial risks and privacy issues.
The office also serves as the centralized compliance function at MIT. RMCS works with DLCs on specific compliance obligations, makes improvements to MIT policies and processes, and offers avenues for reporting concerns, including through the anonymous hotline.
Here are a few of the key roles performed by Risk Management & Compliance Services:
- Work with stakeholder groups to foster comprehensive systems of Institute-wide risk management and compliance.
- Be a resource to administrators and academic, research, and central DLC heads, as well as to MIT community members seeking to understand and manage risks and compliance obligations.
- Educate the MIT community in risk management and compliance principles and techniques.
RMCS regularly partners with other offices at MIT involved in risk assessment, risk management, and institutional compliance, including the Audit Division, the Insurance Office, and the Office of the General Counsel.
Risk and compliance are also important topics of MIT governance. The Risk and Audit Committee of the MIT Corporation oversees the activity of Risk Management & Compliance Services.
Visit the RMCS website to learn more.