The Role of Risk Leadership in Defining ERM Readiness in Government

Government orga­nizations must tackle risk and uncertainty in a more systematic and enterprise manner. The authors of this new report, Peter Young and Trang Hoang, provide timely and insightful perspectives that underscore the connection between lead­ership actions that support government risk management and successful efforts to implement enterprise risk management (ERM). The report explores two dis­tinct concepts—risk leadership and ERM readiness.

Peter C. Young

Peter C. Young, PhD, holds the 3M Endowed Chair in International Business, and in that position is responsible for global business education initiatives at the University of St. Thomas’ Opus College of Business. In that capacity, he is responsible for the MBA courses and certification programs in risk management, as well as playing a leadership role in the actuarial science program—now designated as a Center for Actuarial Excellence.

3M Endowed Chair, Professor of Risk Management, Opus College of Business
University of St. Thomas
Minneapolis, MN
United States

Peter C. Young, PhD, holds the 3M Endowed Chair in International Business, and in that position is responsible for global business education initiatives at the University of St. Thomas’ Opus College of Business. In that capacity, he is responsible for the MBA courses and certification programs in risk management, as well as playing a leadership role in the actuarial science program—now designated as a Center for Actuarial Excellence.

Professor 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. He was selected as a Distinguished Alumnus of the Year for the University of Nebraska-Omaha as well as for Augustana University. Honored with the ALARM-UK Lifetime Service award, he was also selected as an Honorary Fellow of the Institute of Risk Management in London. Most recently, he was awarded the Otto Mønsted Visiting Professorship at Copenhagen Business School in recognition of research excellence in risk management.

Dr. Young holds a PhD 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 in academic journals, but has also authored several books including: an influential risk management textbook, Risk Management and Insurance (McGraw-Hill, co-authored with Michael Smith), Managing Risks in Public Organisations (with Martin Fone), and Risk Management and Leadership. He has co-authored with Torben Andersen, Strategic Risk leadership: Engaging a World of Risk, Uncertainty, and the Unknown (2020), and a second book with Torben Andersen, Strategic Risk leadership: Context and Cases, (2022). A book on risk management in European governmental bodies, Public Sector Leadership in Assessing and Addressing Risk, was published in April 2022.