Academic administrator: A person who is a member of university management. Contract risk: Legal risks which are associated with contracts involving the host organisation, student and/or university. Enterprise risk management (ERM): A comprehensive process of managing risks across the university that may affect the achievement of university objectives related to its core activities in learning and teaching, research, and service (refer further section 1.8.5). Financial risk: An event or circumstance that affects the assets of the university.