Smith School Establishes Risk Management Consortium

UMD’s Robert H. Smith School of Business is launching an initiative to assess and address risks to government and industry due to extreme weather and climate change, cybersecurity, and instability in national economies and many industries.

The Smith Enterprise Risk Consortium, based out of the school’s Office of Executive Education, will provide research, tools and education, including training programs, special events and a paid membership level for customized access to experts and training.

The consortium aims to position Smith as an academic leader in applied risk management through thought leadership, teaching and outreach to industry and governmental organizations, and by formalizing industry ties to Smith students interested in careers in risk management.

Clifford Rossi, professor of the practice and executive-in-residence for the Smith School, will be director of the consortium; he served as managing director and chief risk officer for Citigroup’s Consumer Lending Division during the 2008 financial crisis. Mary Bittle Koenick, Smith’s associate director of executive education, will act as program director.

“As we’ve seen with evolving climate change events and recent bank failures, crises don’t wait for organizations to get their risk management house in order,” he said. “Across private and public sectors, organizations face an array of risks that require consistent and coordinated risk assessment processes.”

The consortium’s pending events include “board bootcamps”—custom engagements for corporate boards—and an inaugural Risk Summit as a multiday, in-person event in February 2024.