Peter Young

Professor, Management

(651) 962-4248

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

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

See publications in UST Research Online

Peter C. Young holds the 3M Endowed Chair in International Business, a position that is responsible for global business education initiatives at the Opus College of Business. From 1994 to 2011, he held the E. W. Blanch Senior Chair in Risk Management. In that capacity, he was (and remains) responsible for the 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. In 2010, he was selected as an Honorary Fellow of the Institute of Risk Management in London.

He 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, coauthored 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 coauthored, with Martin Fone, Managing Risks in Public Organizations, and he just completed a book examining risk leadership (Risk Management and Leadership: Nexis-Lexis, 2015).

Young has published extensively in academic and practitioner journals as well as popular business magazines. In addition to his academic responsibilities, he has taken on numerous consulting projects, 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 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); and strategic risk planning with Kommunal Landspensjonskasse, a Norwegian life, casualty insurance and financial services company.

Fall 2015 Courses
Fall 2015 Courses
Crs - Sec Title Days Time Location
MGMT 745 - 366 Global Systems See Details * *
Description of course Global Systems : CRN: 43006
Registration is restricted to EXECUTIVE MBA students only
Schedule Details
Location Time Day(s)
TMH 3010800-170011 Sep '15
TMH 4010800-170009 Oct '15
TMH 4010800-170006 Nov '15
TMH 4010800-170004 Dec '15
J-Term 2016 Courses
J-Term 2016 Courses
Crs - Sec Title Days Time Location
Spring 2016 Courses
Spring 2016 Courses
Crs - Sec Title Days Time Location
MGMT 751 - 201 Enterprise Risk Management See Details * *
Description of course Enterprise Risk Management : CRN: 22203
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)
SCH 3151730-213004 Feb '16
SCH 3151730-213025 Feb '16
SCH 3151730-213017 Mar '16
SCH 3151730-213014 Apr '16
SCH 3151730-213005 May '16
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)
  • PRIMA (US professional risk management association)
  • PRIMO-EU (European Association of public sector chief executives)

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

Public Service
  • Vucovich Foundation, Board Member

  • 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. 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).
  • 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. Public Budgeting and Finance Journal, (23)(3),
  • Young, P. C., & Fone, M. (2002). Pooling and the government agenda.

Books and Chapters
  • Young, P. C. (forthcoming). Public risk leadership. London, UK London, UK: Gower Publishing
  • Young, P. C. (2015). Risk management and leadership. New York New York: US. Nexis-Lexis Publishing
  • Young, P. C., Maines, T., Jondle, D. J., & Rovang-Burke, M. (2015). Routledge Companion on Strategic Risk Management'. In Torben Andersen (Ed.), Connecting risk management with organizational values. Taylor & Francis
  • Young, P. C. (2014). Encyclopedia of Public Administration and Public Policy. Risk Pools.
  • 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. (2007). Managing risks in UK public organizations - 2nd ed. Leicester, UK Leicester, UK: Palgrave
  • 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. Copenhagen Copenhagen: FIRM
  • 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. (1997). Risk management and insurance. New York New York: Irwin McGraw-Hill - 8th edition

Research Interests
  • Public Finance
  • Risk Management
  • Insurance

Awards and Honors
  • Distinguished Fellow, Institute of Risk Management - London, UK, 2010
  • Lifetime Achievement Award, ALARM-UK, 2009
  • University of Nebraska-Omaha College of Public Affairs and Community Service, 2007

  • "What is risk leadership: Investigating the skills, knowledge, and attributes of risk leaders." British Academy of Management, Glasgow, Scotland, May 01, 2015
  • "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
  • "Central audit and risk management in Danish local authorities" Danish Central Government Audit Office Seminar, Denmark, March 01, 2007
  • "Captive usage in the public sector: Early evidence" Captive Association Conference, Tucson, Arizona, 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
  • "Pooling in Scotland: Recent developments" Centre for Risk and Governance, Glasgow Caledonian University, Glasgow, United Kingdom, April 01, 2005
  • "Risk Management in Irish public organizations" Irish Public Bodies Conference, Boston, Massachusetts, April 01, 2005
  • "Enterprise risk management implementation" IBCEuroforum: Enterprise Risk Management Conference, Stockholm, Sweden, April 01, 2005
  • "Ethics and Risk March 2004." Centre for Risk and Governance, Glasgow, United Kingdom, January 01, 2004
  • "Risk Pooling Innovation January 2004." Association of Local Government Risk Management, London, United Kingdom, 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
  • "The New Regulatory Climate of Enterprise Risk Management November 2004." European Institute for Risk Management, Stockholm, Sweden, January 01, 2004
  • "Recent Developments in Enterprise Risk Management,, April 2004." European Risk Management Academy, Copenhagen and Oslo, 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
  • "Professional Development for Risk Managers, (keynote speaker November 2002)" Minnesota Risk and Insurance Management Association, Minneapolis, Minnesota, January 01, 2002
  • "Public Risk Management in Europe Today, September 2002" European Risk Management Academy, Copenhagen, Denmark, January 01, 2002
  • "Public Risk Management: An Overview" Center for Risikostyring, Conference on Public Sector Risk Management, Copenhagen, Denmark, January 01, 2002