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CERA Update CAGNY 12/6/12 PowerPoint Presentation
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CERA Update CAGNY 12/6/12

CERA Update CAGNY 12/6/12

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CERA Update CAGNY 12/6/12

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  1. CERA UpdateCAGNY 12/6/12 John Kollar, FCAS, MAAA, CPCU

  2. What is the CERA? • Global actuarial ERM credential • Are there any other ERM credentials that are global? • Grew to 1,000 CERAs in October of 2011 • What does CERA mean? • Depends on where you are • North America: Chartered Enterprise Risk Analyst • UK (IFA): Chartered Enterprise Risk Actuary • Benelux: a bank! • “C” can also mean “Certified” • CERA is the Brand • Registered mark in many countries (IP)

  3. CERA • Benefits to worldwide actuarial profession • Strengthens international recognition of the actuarial profession’s ERM expertise • Promotes the development of more ERM actuaries • Presents new opportunities for actuaries • Notifies employers of actuaries’ risk management expertise • Advances the ERM (risk management) cause

  4. CERA Treaty • Multilateral agreement • Signed in November of 2009 in India • First Global actuarial credential • Governs the actions of the CGA including the CERA Treaty Board that it established • Every Treaty Signatory agrees to recognize every CERA’s right to practice in its “territory” • Every Treaty Signatory agrees to market the CERA

  5. What is the CGA? • CERA Global Association • Founded on 7 May 2010 (Switzerland) • CERA Treaty Board – operational body • CGA Board & CGA General Assembly • Treaty Administrator – IFA (UK) • Funded by Treaty Signatories • Annual budget including cost allocations • Marketing – branding, website, Linkedin, Facebook, newsletter, etc.

  6. CERA Global Association (CGA) • Grants Award Signatory status to actuarial associations • Applicant can meet requisite obligations • Provide CERA education directly or indirectly • Has Continuing Education strategy • Is a Full Member Association of the IAA • Review Panel conducts an rigorous review of the association’s CERA program • Initial • Follow-up reviews • Associations award CERA to qualified actuaries • Reviews Syllabus & Educational Standards every 3 years • Accepts new CGA members (Treaty Signatories) who demonstrate commitment & ability to meet obligations and Treaty terms

  7. CGA Members (Countries)/Treaty Signatories (14 = 5 continents) • Mexico • Netherlands* • South Africa* • Sweden* • UK* • US (CAS* & SOA*) • Australia* • Canada* • Chinese Taipei (new) • France* • Germany* • Israel • Japan* *Award Signatories

  8. CERA Website (www.ceraglobal.org) • Why employ a CERA? • CERA learning objectives • ERM news sites • ERM organizations • Business continuity • Economic capital • Types of risk • Solvency II • Events • Announcements • Participating associations • Quality assurance • CERA brand • CERA Treaty • FAQs • CERA Board • How to qualify as a CERA • Routes to CERA • Website links

  9. CAS & CERA • Treaty Board approved CAS as an Award Signatory (2011) - standard (exam) route • ACAS • Exam 7 - Policy Liabilities, Insurance Company Valuation & ERM • Exam 9 - Financial Risk and Rate of Return • ERMM Seminar (2 sessions per year) – ERM & modeling • IFA (UK) ST-9 exam • CGA approved CAS Experienced Practitioner Pathway (EPP) • CAS ERM Committee exploring alternative routes to ST-9

  10. CAS & CERA • 6 CAS members awarded CERA by CAS via ST-9 exam • 92 CAS members accepted under CAS EPP • Most completed recent EPP seminar • Second EPP seminar to be held • Complete paperwork • CAS Broad approval • 39 CAS members received CERA from SOA and will be eligible for transfer of the CERA to the CAS • October ST-9 exam could generate more CAS CERA’s EPP Lecture 1: Overview of CERA Designation

  11. CAS & CERA • CGA member • CAS • VP-ERM • CAS ERM Committee • Admissions Committees • Research Committees • Continuing Education • Marketing • Joint Risk Management Section • ERM Symposium

  12. CAS & CERA & You Volunteer; get involved! • Invest in your future • Invest in your CERA • Invest in your employer • Invest in your profession