Peter Young

Full Professor, Management

(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 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

  • 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
  • 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). 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. (2010). Risk Management & Governance. Risk pooling in the public sector: Is there a future in Europe (pp. 5-8).
  • 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. (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., & Tippins, S. (2006). Introducing Risk Management to Small Business. Business Journal for Entrepreneurs, (2006)(3),
  • 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). Ethics and risk management: Building a framework. Risk Management: An International Journal, (6)(3),
  • 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., & 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 Encyclopedia of Public Administration and Public Policy. Risk pooling. New York: Marcel Dekker Publishing
  • 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., & 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., & Fone, M. (2002). Pooling and the government agenda. Public Treasurer,
  • 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

  • "Reputational risk and social media" University of Mississippi School of Law Sports Law Symposium, Oxford, Mississippi, April 01, 2012
  • "Modern risk management and the lens of an ethical culture" ECOA Conference: Building and Benefiting from an Ethical Organizational Culture, Minneapolis, MN, November 01, 2011
  • "Captive usage in the public sector: Early evidence" Captive Association Conference, Tucson, Arizona, March 01, 2007
  • "Central audit and risk management in Danish local authorities" Danish Central Government Audit Office Seminar, Denmark, March 01, 2007
  • "Recent developments in risk management" Risk and Insurance Management Society, Minneapolis, Minnesota, November 01, 2006
  • "Professional education for modern risk management" Institute of Risk Management Forum, Keele University, Keele, United Kingdom, September 01, 2006
  • "Mapping the new world of public risk management" Pan-European Conference for Public Sector Risk Management (PRIMO), Copenhagen, Denmark, November 01, 2005
  • "Public sector financing in the UK: The special case of partnering" Public Risk Management Association, Milwaukee, Wisconsin, June 01, 2005
  • "Enterprise risk management implementation" IBCEuroforum: Enterprise Risk Management Conference, Stockholm, Sweden, April 01, 2005
  • "Pooling in Scotland: Recent developments" Centre for Risk and Governance, Glasgow Caledonian University, Glasgow, United Kingdom, April 01, 2005
  • "Risk Mmnagement in Irish public organisations" Irish Public Bodies Conference, Boston, Massachusetts, April 01, 2005
  • "Ethics and Risk March 2004." Centre for Risk and Governance, Glasgow, United Kingdom, January 01, 2004
  • "The New Regulatory Climate of Enterprise Risk Management November 2004." European Institute for Risk Management, Stockholm, Sweden, January 01, 2004
  • "Risk Pooling Innovation January 2004." Association of Local Government Risk Management, London, United Kingdom, January 01, 2004
  • "Recent Developments in Enterprise Risk Management,, April 2004." European Risk Management Academy, Copenhagen and Oslo, Denmark, January 01, 2004
  • "Managing Risks in a Period of High Transition, November 2004." European Institute for Risk Management, Copenhagen and Kolding, Denmark, January 01, 2004
  • "Enterprise Risk Management in Health Care Organizations" Association of Health Care Risk Management National Conference, Nashville, Tennessee, November 01, 2003
  • "Core Competencies in Risk Management, May 2003" Public Risk Management Association, Reno, Nevada, January 01, 2003
  • "Evidence of Adoption: Enterprise Risk Management April 2003" Centre for Risk and Governance, Glasgow, United Kingdom, January 01, 2003
  • "Recent Developments in Enterprise Risk Management,(Keynote speaker, September 2002)" Japanese Management Association annual conference, Tokyo, Japan, January 01, 2002
  • "Public Risk Management in Europe Today, September 2002" European Risk Management Academy, Copenhagen, Denmark, January 01, 2002
  • "Professional Development for Risk Managers, (keynote speaker November 2002)" Minnesota Risk and Insurance Management Association, Minneapolis, Minnesota, January 01, 2002
  • "Public Risk Management: An Overview" Center for Risikostyring, Conference on Public Sector Risk Management, Copenhagen, Denmark, January 01, 2002