Winged figure police department guards at university (5)
I believe the answer is:
cupid
'winged figure' is the definition.
(winged Roman god)
'police department guards at university' is the wordplay.
'police department' becomes 'CID' (abbreviation for Criminal Investigation Department).
'guards' means one lot of letters goes inside another (inserted letters are guarded).
'at university' becomes 'up' (slang term meaning at university).
'cid' enclosing 'up' is 'CUPID'.
(Other definitions for cupid that I've seen before include "heathen god" , "armed youth" , "Match-making archer" , "a help to Santa" , "Boy with wings, bow, arrow" .)