We often get questions about what the difference is between each of our areas. How Title IX relates to compliance, relates to internal audit and where risk management and legal fit in. It can be confusing. Rest assured, if you’re not sure which of us you need help from, fill out our contact form and we’ll get you to the right person.
And if you’re curious, we’ve outlined our relationship in the “Three Lines of Defense @ Mines” figure below.
Managing risks at Mines’ is a team effort from the Board to the employee. Mines’ follows the three lines of defense framework as adapted from the Institute of Internal Auditors. The first line of defense consists of the departments, centers, and business units. This line is responsible for their operations to support the overall mission and strategy of the University, as well as manage risks, ensuring compliance, being a mandatory reporter. The second line is comprised of the oversight functions that are responsible for serving as the support and oversight for the first line. The third line is comprised of the independent assurance providers. This group reports independently to the Finance and Audit Committee of the Board of Trustees.