Faculty & Research

Peter C. Young

Professor and 3M Endowed Chair in International Business : Management Department
 

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Peter C. Young holds the 3M Endowed Chair in International Business, and in that position is responsible for global business education initiatives at the Opus College of Business. From 1994-2011, he held the E. W. Blanch Senior Chair in Risk Management in the Opus College of Business. In that capacity, he was (and remains) responsible for the UST MBA courses and non-degree programs in risk management. He also serves as the principal advisor to (and co-creator of) the University of St. Thomas actuarial science program, which in 2011 received recognition as a Center for Actuarial Excellence.

Young has been a visiting professor to City University in London and Aoyama Gakuin University in Tokyo, and has held a distinguished honorary professorship at Glasgow Caledonian University in Scotland. Most recently, he was selected as a Distinguished Alumnus of the Year for the University of Nebraska-Omaha, was elected to Global Risk Who’s Who, and was honored with the ALARM-UK Lifetime Service award. Additionally, in 2010 he was selected as an Honorary Fellow of the Institute of Risk Management in London.

Young holds a Ph.D. in risk management from the University of Minnesota and a master’s degree in public administration from the University of Nebraska-Omaha. He has written extensively on the subject of risk management, including an influential risk management textbook, Risk Management and Insurance (McGraw-Hill, co-authored with Michael Smith), which is considered one of the first major books to develop the concept of organization/enterprise-wide risk management. Most recently he has coauthored (with Martin Fone) Managing Risks in Public Organisations, and he is presently working on a book examining risk leadership.  Young has been published extensively in academic and practitioner journals as well as popular business magazines.

In addition to his academic responsibilities, Young has taken on numerous consulting projects, most recently including:
• Risk management advising to the Risk Office at Novo Nordisk (Denmark).
• Risk management advising and consulting to the South Dakota Technology and Science Authority (US) and DUSEL (University of California-Berkeley), public organizations tasked with managing the conversion of the western hemisphere’s largest gold mine into an underground physics laboratory.
• Risk management advising and consulting to SABMiller plc (UK and South Africa).
• Strategic risk planning with Kommunal Landspensjonskasse, a Norwegian life, casualty insurance and financial services company.

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Academic Background

B.A., history, Augustana College
M.A., political science/public administration, University of Nebraska-Omaha
Ph.D., business administration – risk management, University of Minnesota


Research Specialties

  • Strategic/enterprise risk management
  • Risk leadership
  • Public sector risk
  • Risk financing


Current Research

  • Risk leadership
  • Risk, strategy, compliance
  • Risk and globalization


Major Works

  • Young, Peter C., T. Dean Maines, Douglas J. Jondle and Michelle Rovang Burke, "Modern Risk Management Through the Lens of the Ethical Organizational Culture," Risk Management: An International Journal 15:1 (2013): 32–49.
  • Young, Peter C. and John Wendt, "Reputational Risk and Social Media," Mississippi Sports Law Review 1:1 (2011): 97-126.
  • Young, Peter C., John Wendt and John Miller, "Fourth Amendment Considerations and Application of Risk Management Principles for Pat- Down Searches at Professional Football Games," Journal of Legal Aspects of Sport (2010).
  • "Risk Pooling in the Public Sector: Is There a Future in Europe?" Risk Management & Governance (October, 2010).
  • "Risk Management," Chapter 33. In A Companion to Finance Ethics, edited by J. Boatright. New York: Blackwell Publishers, 2009.
  • Young, P. C. and S. Tippins, "Introducing Risk Management to Small Business," Business Journal for Entrepreneurs 3 (2006). 
  • Young, P. C. and J. Hood, "Risk Financing in UK Local Authorities: Is There a Case for Risk Pooling?" The International Journal of Public Sector Management 18:6 (Fall, 2005). 
  • "Recent Risk Financing Innovations: Motives, Principles, & Practices." In Risk Management Innovation in Japan, Britain & the USA. Routledge, 2005. 
  • Young, P. C. and M. Fone. Managing Risks in Public Sector Organisations. Perpetuity Press, 2005. 
  • Young, P. C. and C. Reiss, "Local Government Risk Management." In Management Policies in Local Government Finance, 5th edition. Washington, D.C.: ICMA Publishing,  2005.
  • "Ethics and Risk Management: Building a Framework," Risk Management: An International Journal (Autumn, 2004).


Current Community Relationships

  • Risk management advisor, South Dakota Science and Technology Authority—Sanford Laboratory.
  • Educational advisor, Redwater Group UK