Stevens Institute of Technology Receives 2013 Innovative Risk Management Solutions Award

Award Honors Stevens Solution to Manage Regulatory Compliance in Higher Education

11/14/2013

Hoboken, N.J. – Stevens Institute of Technology has been recognized for its innovative regulatory compliance management approach with the 2013 Innovative Risk Management Solutions Award from the University Risk Management and Insurance Association (URMIA).

The award highlights innovative projects, solutions and thought leadership that allow higher education risk managers to remain flexible and responsive in the protection of their institutions and that can be emulated by other risk management professionals.

Stevens was honored for its solution to help manage regulatory compliance in higher education, one of the most challenging responsibilities for any university.

Stevens' Compliance Management System (CMS) provides simple inquiry tools that allow senior administrators to focus on the highest risk areas and changes in risk exposure, while providing functional areas with a tool to better manage their respective regulatory compliance responsibilities.

“Stevens' Compliance Management System (CMS) was not designed to be just a ‘project’, but a sustainable solution to managing the myriad of regulatory compliance requirements we live under each day,” said Stevens Chief Risk & Compliance Officer Chuck Shaw. “Many hands contributed, and continue to contribute, to its development, usefulness and refinement.”

Shaw accepted the award on behalf of Stevens on Oct. 15, 2013 at URMIA’s 44th Annual Conference in Phoenix, Ariz. Sienna College joined Stevens as co-winner of the 2013 Innovative Risk Management Solutions Award.

About Stevens Institute of Technology

Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J. overlooking the Manhattan skyline. Founded in 1870, technological innovation has been the hallmark and legacy of Stevens’ education and research programs for more than 140 years. Within the university’s three schools and one college, more than 6,100 undergraduate and graduate students collaborate with more than 350 faculty members in an interdisciplinary, student-centric, entrepreneurial environment to advance the frontiers of science and leverage technology to confront global challenges. Stevens is home to three national research centers of excellence, as well as joint research programs focused on critical industries such as healthcare, energy, finance, defense, STEM education and coastal sustainability. The university is consistently ranked among the nation’s elite for return on investment for students, career services programs and mid-career salaries of alumni. Stevens is in the midst of a 10-year strategic plan, The Future. Ours to Create., designed to further extend the Stevens legacy to create a forward-looking and far-reaching institution with global impact.

About the University Risk Management and Insurance Association

The University Risk Management and Insurance Association is an international nonprofit educational association serving colleges and universities. Its core purpose is to promote the advancement and application of effective risk management principles and practices in institutions of higher education. URMIA represents over 2,100 individuals at over 570 institutions of higher education and over 100 companies with members ranging from small schools and community colleges to the largest educational institutions. The URMIA National Office is in Bloomington, Indiana, at Indiana University. For more information, visit www.urmia.org or call 812-855-6683.