Peter Young

Full Professor, Management

pcyoung@stthomas.edu

(651) 962-4248

Minneapolis Campus
1000 LaSalle Ave
Terrence Murphy Hall 343N
Minneapolis, MN 55403

Ph.D., Business Administration, University of Minnesota
M.A., Public Administration, University of Nebraska
B.A., History, Augustana College

See publications in UST Research Online

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 Organizations, 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.

Fall 2014 Courses
Fall 2014 Courses
Crs - Sec Title Days Time Location
MGMT 799 - 202 Strategic Management - - W - - - - 1800 - 2100 SCH 301
Description of course Strategic Management : CRN: 42789
An integrative approach to the formulation and implementation of organizational strategy and policy, this capstone course focuses on organizational performances as it relates to mission, goals and objectives. You will get practice defining multi-faceted problems and their causes; analyzing internal and external environments; reviewing key corporate and business strategies; formulating alternative strategic options; and addressing the challenges of implementation. Emphasis is on the ethical dimensions of problem solving at the general management level. The course will draw upon the analytical tools and managerial knowledge developed in all previous MBA courses, with application to both for profit and nonprofit organizations. -- Prerequisite: All core classes and two electives (Evening MBA capstone class)

Schedule Details

Location Time Day(s)
J-Term 2015 Courses
J-Term 2015 Courses
Crs - Sec Title Days Time Location
Spring 2015 Courses
Spring 2015 Courses
Crs - Sec Title Days Time Location
MGMT 745 - 365 Global Systems See Details * *
Description of course Global Systems : CRN: 22042
Registration is restricted to EXECUTIVE MBA students only

Schedule Details

Location Time Day(s)
TMH 4010800-170010 Jan '15
TMH 4010800-170007 Feb '15
TMH 4010800-170018 Apr '15
TMH 4010800-170009 May '15
MGMT 751 - 202 Enterprise Risk Management - - - - - - - -
Description of course Enterprise Risk Management : CRN: 22793
The present economic crisis, along with a range of other looming challenges (climate change, unrest in the Middle East, health and food security concerns, changing consumer preferences and social mobility), have presented global organizations with the most daunting array of risks in at least 60 years. Broadly, this situation presents organizations with the challenge of developing more comprehensive approaches to the management of risk--what has come to be called Enterprise Risk Management (ERM). Key to the ERM concept is the view that all managers are expected to act as risk managers within the scope of their duties. Thus, the study of risk management is no longer just for those interested in technical specializations such as finance, audit, or safety/security risk; it is an important topic for all business students. Key subjects of investigation in MGMT 751 will include: 1. The specific challenge of engaging Boards and Executive Management in order to get risk management onto their agendas. 2. The difficulties in translating risk policy into risk management systems and structures. 3. The particular processes necessary to knit together the existing technical specialist infrastructure. 4. The development of sufficient risk management competence among the entire organization (and especially non-risk management specialists). 5. The problems of communicating relevant risk information to external stakeholders. Prerequisite: Standard core courses

Schedule Details

Location Time Day(s)
MGMT 753 - 201 Risk Ldershp in a Global Contx - - - - - - - -
Description of course Risk Ldershp in a Global Contx : CRN: 22045
The structure of MGMT753 is a seminar format. Under the guidance of the instructor, students will be exposed to a wide range of theoretical, conceptual, and practiioner-oriented reading materials related to the subject of the insurance industry. Topics of specific concern will vary, but likely will include the internationalization of the economy, the movement toward a financial services industry, the impact of techology, and the emergence of alternative risk financing markets. The seminar enlists industry leaders, who participate in selected sessions and provide expert input on the questions at hand. -- Prerequisite: Standard core courses and FINC600 Study Abroad

Schedule Details

Location Time Day(s)
Academic and Professional Positions
  • Visiting Professor and Senior Advisor, European Institute for Risk Management, Copenhagen (2002 - present)
  • Professor, University of St. Thomas, St. Paul / Mpls (1994 - present)
  • Distinguished Visiting Professor/Division of Risk, Glasgow Caledonian University, Glasgow (2001 - 2005)
  • Visiting Professor, Aoyama Gakuin University, Tokyo (1998 - 1998)
  • Visiting Professor/College of Business Studies and the Insurance and, City University - Cass School of Business, London (1997 - 1997)
  • Professor/Department of Management and Finance, St. Cloud State University, St. Cloud (1987 - 1994)
  • Teaching/Research Associate - Department of Finance and Insurance, University of Minnesota, Minneapolis (1985 - 1987)
  • Research Assistant - Center for Applied Urban Research, University of Nebraska, Omaha (1981 - 1983)
  • Teaching Assistant - Department of Public Administration, University of Nebraska, Omaha (1982 - 1983)

Professional Memberships
  • ALARM (UK professional/academic risk management association)
  • ARIA (Global academic risk management association)
  • Institute of Risk Management (London-based global professional association)
  • PRIMO-EU (European Association of public sector chief executives)
  • PRIMA (US professional risk management association)

Professional Service
  • Public Budgeting and Finance, Reviewer
  • Public Risk Forum - EIRM Press,
  • Risk Management - An International Journal,

Public Service
  • Vucovich Foundation, Board Member

Publications
  • Wendt, J. T., & Young, P. C. (2014). Protecting spectator rights: Reflections on the general law of the cup. International Sports Law Journal,
  • Jondle, D. J., Maines, T., Rovang Burke, M., & Young, P. C. (2013). Modern risk management through the lens of the ethical organizational culture. Risk Management: An International Journal, (15)(1), pp. 32-49
  • Jondle, D. J., Maines, T., Rovang-Burke, M., & Young, P. C. (2013). Modern risk management: Managing risk through the ethical business culture model. The European Financial Review, pp. 33-38
  • Wendt, J. T., & Young, P. C. (2011). Reputational risk and social media. Mississippi Law Journal, (1)(1), pp. 97-126
  • Miller, J., Wendt, J. T., & Young, P. C. (2010). Fourth amendment considerations and application of risk management principles for pat- down searches at professional football games. Journal of Legal Aspects of Sport, (20)(2),
  • Young, P. C. (2010). "Risk pooling in the public sector: Is there a future in Europe?" (Risk Management & Governance). Risk Management & Governance,
  • Young, P. C., & Tippins, S. (2006). Introducing Risk Management to Small Business. Business Journal for Entrepreneurs, (2006)(3),
  • Young, P. C. (2005). Ethics and risk management: Building a framework. Risk Management: An International Journal, (6)(3),
  • Young, P. C., & Hood, J. (2005). Risk financing in UK local authorities: Is there a case for risk pooling?. (18)(6), pp. 563-578
  • Young, P. C., & Fone, M. (2004). Risk management in a public sector context. Public Service Review,
  • Young, P. C. (2003). The risk management implications of outsourcing claims management services in local government. Risk Management: An International Journal, (5)(3),
  • Young, P. C. (2003). Risk and the outsourcing of risk management services: The case of claims management. Journal of Public Budgeting and Finance, (23)(3),
  • Young, P. C., & Fone, M. (2002). Pooling and the government agenda. Public Treasurer,

Books and Chapters
  • Young, P. C. (forthcoming). 'Routledge Companion on Strategic Risk Management'. In Torben Andersen (Ed.), Connecting risk management with organizational values.
  • Young, P. C. (forthcoming). Public risk leadership. London, UK London, UK: Gower Publishing
  • Young, P. C. (2010). Risk Management & Governance. Risk pooling in the public sector: Is there a future in Europe (pp. 5-8).
  • Young, P. C. (2010). Finance Ethics: Critical Issues in Financial Theory and Practice. In J. Boatright's (Ed.), Risk management (pp. 495-508). Hoboken, NJ: Kolb Series in Finance; J. Wiley
  • Young, P. C. (2009). A Companion to Finance Ethics. In J. Boatright (Ed.), Risk management. New York: Blackwell Publishers
  • Young, P. C. (2008). Public Risk. The future of risk management. Washington, DC: PRIMA Publications
  • Young, P. C. (2008). Managing risk in local government - 4th ed. Sheshunoff
  • Young, P. C., & Fone, M. (2006). Managing risks in UK public organizations - 2nd ed. Leicester, UK Leicester, UK: Perpetuity Press
  • Young, P. C. (2005). Innovation in Japan, Europe and North America. In R. Taplin (Ed.), Risk financing innovations: motives, principles and practices (pp. 127-149). Routledge, Oxford, UK: The Centre for Japanese and East Asian Studies
  • Young, P. C. (2005). Risk Management and Innovation in Japan, Britain and the United States. In R. Taplin (Ed.), Recent risk financing innovations: motives, principles and practices (pp. 127-149). Routledge, Oxford, UK: Centre for Japanese and East Asian Studies.
  • Young, P. C. (2003). The Encyclopedia of Public Administration and Public Policy. Risk pooling. New York: Marcel Dekker Publishing
  • Young, P. C., & Reiss, C. (2003). Management policies in local government finance 5th edition. Local government risk management (pp. 479-498). Washington, DC: ICMA Publishing
  • Young, P. C., & Jensen, K. (2002). Managing risk in Danish local authorities. Managing risk in Danish local authorities
  • Young, P. C., & Louisot, J. P. (2002). Local government risk management practices in France. Marsh Publishing, Paris
  • Young, P. C., & Tippins, S. (2002). Managing business risk. New York New York: Amacom Books
  • Young, P. C., & Tomski, M. (2002). Medicolegal. In Michael Lacerte (Ed.), An introduction to risk management. Philadelphia: W.B. Sanders Company
  • Young, P. C. (2000). Managing risk in local government. Austin Austin: Sheshunoff
  • Young, P. C., Williams, Jr, C. A., & Smith, M. L. (2000). Risk management and insurance. New York New York: Irwin McGraw-Hill - 8th edition

Research Interests
  • Public Finance
  • Risk Management
  • Insurance

Awards and Honors
  • University of Nebraska-Omahas College of Public Affairs and Community Service, 2007

Presentations