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UP CLOSE: Mary Peter

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Mary Peter

NEW JOB TITLE: Apple Valley, Minnesota-based director, enterprise risk management, Uponor North America

PREVIOUS POSITION: Richfield, Minnesota-based associate director of enterprise risk management, Best Buy Inc.

OUTLOOK FOR THE INDUSTRY: The insurance industry is moving toward a more global look at risk, and therefore enterprise risk management is becoming more prevalent. As boards and executives strive to understand risk to their strategic objectives, the insurance industry is evolving in how to respond to this need. Going beyond insurable risks and further toward catastrophic and unknown risk, we are presented with the opportunity for better dialogue and value-added activities. The manufacturing industry is also becoming more engaged to include enterprise risk management as part of their overall strategy for growth.

GOALS FOR YOUR NEW POSITION: Because this is a new position for Uponor, I have the opportunity to create an approach for utilizing enterprise risk management insights to help our senior leaders make data-informed decisions. I plan to build a strong foundation of risk awareness and management leveraging the positive culture that Uponor has built. This means that all employees will need to develop a “risk muscle” to identify, mitigate and manage risk around them, and be open to doing things differently than in the past. We are a growing company with exciting, innovative water and energy management solutions that help make our customers’ systems smarter. Working for a company that is headquartered in another country is new for me. I’m looking forward to working with both our North American leadership in Minnesota, as well as with executives in Finland, to bring to life our strong enterprise risk management vision.

CHALLENGES FACING THE INDUSTRY: The emerging and unknown risks are the most challenging, mostly in the areas of new technologies, cyber and the “internet of things.” This is true for many companies in many industries.

FIRST EXPERIENCE: My first experience in the insurance industry was selling property/casualty and life/health/disability insurance to small businesses. From there, I moved into underwriting, risk management claims and loss control consulting, served as director of risk management, and for the past 10 years worked in the broader field of enterprise risk management. It has been a full circle of movement, with an opportunity to view risks from many different perspectives.

ADVICE FOR A NEWCOMER: Look at your position and challenges from all points of view, particularly from the other side of the table. Also, network with others who are in positions you aspire to be in, join organizations and take advantage of training opportunities that may be offered to you.

DREAM JOB: Rocking and singing to babies in the neonatal intensive care unit.

COLLEGE MAJOR: Business administration

FAVORITE MEAL: The comfort foods of fall, Thanksgiving turkey and all the trappings.

FAVORITE BOOK: “The Night Before Christmas,” “Pete the Cat,” “The Pout-Pout Fish” and many books children like to hear read aloud.

HOBBIES: Vacations and volunteering

FAVORITE TV SHOW: “This is Us”

ON A SATURDAY AFTERNOON: Spend quality time with my family and friends, typically outdoors enjoying all four seasons of Minnesota.

 

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