The Risks Facing Adventist Higher Ed

Throughout the United States and Canada, Seventh-day Adventist universities and colleges enroll nearly 23,000 undergraduate and graduate students each year.ⁱ Students are the future, and higher education institutions are in a strategic position to prepare youth for service to a world in need. 

Universities and colleges across the nation have faced many challenges. In recent years, Fitch Ratings has reported a deteriorating credit environment. Adventist colleges and universities are not immune. In fact, writing in the Journal of Adventist Education, Niels-Erik Andreasen reflected on the future of Adventist education in a time of crisis when multiple challenges converge decreased enrollment, the pandemic, remote learning.ⁱⁱ

At Adventist Risk Management, we want to connect you with the latest information from industry experts and ministry leaders. In this article, we will introduce you to the leading risks facing higher education institutions and key steps for developing a risk management plan.

Identifying Risks

Cole Clark, a leading industry expert, writes about the magnitude of risks and the need for a new paradigm. For Clark, the environment demands that organizations be more “agile and deliberate” in managing risk.ⁱⁱⁱ This begins with identifying the risk. Although each risk environment is different for each institution, an evidence or data-based approach is important. According to student national surveys, United Educators surveys, and Adventist leadership, three risks continue to emerge as most pressing for higher ed institutions: 

Data Security 

According to United Educators, data security overtook enrollment as the most pertinent risk.^iv In a recent article, professor of learning technologies, Jenine Monica Lim, emphasizes how institutions, information sharing, IT departments from conferences to divisions must more closely collaborate.^v Each institution must prioritize cybersecurity in their risk management plan.

Enrollment 

In the UE survey, enrollment is one of the top financial risks.^vi Adventist leaders in higher education have also identified enrollment as continuing challenge. Andreasen wrote that the most important question Adventist leaders in higher education is “how can we continue to provide the vaunted quality of Adventist higher education during this time of stress, while keeping our institutions financially viable?”^vii

Mental Health

In the largest national student survey, involving 2,004 students, students selected mental health as their top priority.^viii Specifically, “Expand mental health supports to help prevent incidents.” in the Journal of Adventist Education, Pan and de le Pena, write that students must be taught stress-management techniques to students, pointing to Adventist Learning Community website for resources.^ix Stress-management, among many other aspects of mental health, are critical to ensuring the wellbeing of our most important asset: people.

Creating and Implementing Risk Management Programs

Evaluating risks 

Evaluating risks demand spelling out associated activities impacted by the potential risks. This will allow you to give a risk score according to severity and probability of occurring.^x After analyzing and classifying risks, it is important to identify their potential impact and relationship to including “policies, community engagement, communications, and preparedness plans.”^xi

Implementing a risk management 

One key step in implementing a risk management plan is that it aligns with mission, goals, and circumstances.^xii The second is ensuring that those in key leadership positions are on the same page when it comes to the definitions, integrating an awareness of risk in strategic decisions. Finally, there must be a process in place for the board to monitor and update their plan according to new information.^xiii

Risk-Averse Communities

Through awareness of the risk management environment facing your higher institution, your institution can do its part to create risk-averse communities at this critical juncture. Risk management and safety literacy demand collaboration and integration. Identifying risks and developing a risk management plan are the first steps. 

References
i About AACU - Association of Adventist Colleges and universities. Adventist Colleges. (2019, December 15). https://adventistcolleges.org/about-aacu/ 
ii Andreasen, N.E. Andreasen Niels-Erik. (n.d.). “Advancing in a different direction.” Journal of Adventist Education. https://www.journalofadventisteducation.org/2020.82.4.5 
iii Deloitte. (2024, July 25). Trend no. 5: The magnitude of risks demands a new response paradigm. Deloitte Insights. https://www2.deloitte.com/us/en/insights/industry/public-sector/articles-on-higher-education/higher-education-insights-risk-management.html 
iv 2023 top risks report: Insights for Higher Education. (n.d.-a). https://www.ue.org/4aef6e/globalassets/risk-management/reports/2023-top-risks-report-he.pdf 
v Lim, J. M. L. J. M., & Wilczynski, S. Wilczynski Stephanie. (n.d.). Leadership in a Digital World. Journal of Adventist Education. https://www.journalofadventisteducation.org/2024.86.2.3
vi 2023 top risks report, ibid.
vii Andreasen, ibid.
viii Ezarik, M. (n.d.). Top campus safety and security investments students want. Inside Higher Ed | Higher Education News, Events and Jobs. https://www.insidehighered.com/news/2022/06/29/top-campus-safety-and-security-investments-students-want 
ix Ike C. de la Peña Ike C. de la Peña, & Pan, M. C. P. M. C. (n.d.). Learning during stressful situations. Journal of Adventist Education. https://www.journalofadventisteducation.org/2021.83.2.7 
x Hoy, W. by T., & Hoy, T. (2023, September 28). The five keys to risk management for Higher Education Boards. BoardEffect. https://www.boardeffect.com/blog/five-keys-risk-management-higher-education-boards/#:~:text=To%20combat%20and%20mitigate%20risks,Reputational%20risk 
xi Deloitte, ibid.
xii Hoy, W., ibid.
xiii Deloitte, ibid.