Casualty Actuarial Society

Exams & Admissions

Chartered Enterprise Risk Analyst (CERA)

Enterprise Risk Management and Modeling Seminar for CERA Qualification

March 14 - 16, 2018

CASUALTY ACTUARIAL SOCIETY - BOARDROOM
4350 FAIRFAX DRIVE, SUITE 250
ARLINGTON, VA

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PURPOSE

The Enterprise Risk Management and Modeling Seminar for CERA Qualification is the first of two requirements of current CAS Fellows (or Associates with Exams 7 and 9) to be a credentialed CERA by the CAS. The second requirement is passing the ST9 Enterprise Risk Management Specialist Technical Exam of the Institute and Faculty of Actuaries. As this seminar is a requirement for the CERA designation, participants must attend the entire seminar and actively participate in the group activities in order to be credited with this component of the CERA designation process.

The main purposes of this three-day seminar are to:

  1. Prepare attendees for active engagement in the ERM process within an organization by discussing real world approaches to ERM as practiced by companies.
  2. Increase participants' understanding of ERM processes, tools, and techniques through lectures, hands-on case studies, and role-playing.
  3. Provide ST9 candidates with information about the exam process to help them get ready for this exam.

This seminar will involve both lectures and hands-on applications through four ERM case studies ("mini-cases"). Participants will work in teams to complete technical exercises, and to role play and present their approaches to tackling various issues via the four mini-cases.

During the course, instructors will be requiring participants to use their technical actuarial expertise in support of strategic decisions affecting risk and capital management. Participants will apply technical knowledge to real world strategic decision-making and think from the holistic viewpoint of an enterprise-wide officer. Additionally, the course will integrate actuarial science with financial economics, encouraging participants to consider risk/capital issues from a new perspective. For the mini-case work, participants will be required to bring their own laptop. Economic capital model output related to the mini-cases will be provided to registrants for downloading prior to the seminar.

Several sessions will be devoted to ST9 exam preparation to assist candidates preparing for the upcoming ST9 exam. There will be sessions to discuss the Institute and Faculty of Actuaries exam protocol, prototypical ST9 exam questions, and the examiners' report on prior ST9 exams.

Attendance is limited to a maximum of 20 participants. Attendees will be selected on a first registered, first accepted basis.

SCHEDULE

Download a complete schedule for the March seminar.

INSTRUCTORS

The instructors are Kevin Madigan, ACAS, CERA, MAAA; Rick Gorvett, FCAS, ; and Alistair Macpherson, FIA, FCAS, CERA, MAAA.

Kevin Madigan leads the Metro New York office of Willis Towers Watson's P&C actuarial and software practice. His experience includes 10 years as a (re)insurance pricing actuary and underwriter, 2 years working in an ERM capacity at an insurance company, and more than 8 years providing ERM consulting services to insurers throughout the US, Bermuda, Australia, and Europe. Kevin is a frequent writer and speaker on many topics, and in particular on insurance company Enterprise Risk Management, and has been an active volunteer in actuarial organizations throughout his career. His current volunteer activities include chairing the Risk Management Committee of the Casualty Actuarial Society (CAS) and serving on the ERM/ORSA Committee of the American Academy of Actuaries (AAA). He is a former member of the ERM committee of the Actuarial Standards Board, and former chair of the Program Committee for the Joint CAS/SOA Enterprise Risk Management Symposium. Kevin has also worked as a Lecturer and a Staff Associate in the Enterprise Risk Management and the Insurance Management programs of Columbia University's School of Professional Studies. Kevin earned a PhD and an MA in mathematics from the University of Albany, SUNY, and a BS in mathematics from Auburn University. He is an Associate of the Casualty Actuarial Society, a Chartered Enterprise Risk Analyst, and a member of the American Academy of Actuaries.

Rick Gorvett, FCAS, MAAA, CERA, ARM, FRM, PhD, is Staff Actuary of the Casualty Actuarial Society, where his primary activities involve research, education, and being a spokesperson for the CAS and the actuarial profession. He is also helping to create the new predictive analytics credential to be offered by The CAS Institute, and he is editor-in-chief of Variance, the CAS scholarly publication. Until January 2016, Rick spent 12 years as a professor and the director of the Actuarial Science Program at the University of Illinois at Urbana-Champaign, where he was the State Farm Companies Foundation Scholar in Actuarial Science. He has also been a corporate and consulting actuary, and has published numerous articles in research and industry journals. He has been involved in both teaching and research associated with enterprise risk management for over a decade.

Alistair Macpherson is VP in the Corporate Actuarial group at W. R. Berkley in Connecticut with responsibility for international companies. He has over 15 years of insurance company, consulting and audit experience with AIG and PwC in London, Sydney, Paris and New York. He credentialed as a CERA through examination with the UK Actuarial Profession (ST9).

REGISTRATION FEES

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Registration Fees (in U.S. Dollars) If received on/before February 14, 2018 If received after February 14, 2018
CAS Member with CERA basic education requirements* $1,600 $1,800

*Due to anticipated demand, registration is limited to CAS Members and recommended for those having completed at least the CERA basic education requirements (i.e., all ACAS requirements and credit for Exams 7 and 9).

HOTELS

The Westin Arlington Gateway
Address: 801 N Glebe Rd, Arlington, VA 22203
Phone: (703) 717-6200

Hilton Arlington
Address: 950 N Stafford St, Arlington, VA 22203
Phone: (703) 528-6000

Holiday Inn Arlington At Ballston
Address: 4610 N. Fairfax Dr, Arlington, VA 22203
Phone: (703) 243-9800

CANCELLATIONS

The registration fee will be refunded for a cancellation received on or before April 2, 2018 less a $100 administrative fee. Only written cancellations will be honored. Cancellation requests may be faxed to 703.276.3108 or e-mailed to refund@casact.org.

CERA DESIGNATION

On October 8, 2011, the CAS announced that it is a CERA Award Signatory. The CAS's recognition to award the CERA designation and its eventual credentialing of CAS members will help strengthen the standing of qualified CAS members in the field of risk management. More information about the CERA credential can be found on the global CERA website.

ST9 Exam Schedule

Information regarding the 2018 exam timetable for the UK exams may be found online.

CONTINUING EDUCATION CREDIT

The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide actuarial services. Actuarial services are defined in the CAS Code of Professional Conduct as "professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings, or opinions based upon actuarial considerations." Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy.

This activity may qualify for up to 27.3 CE Credits for CAS members. Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE Credit per 50 minutes of educational session time not to include breaks or meals.

Note: The amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the American Academy of Actuaries.

Contact Information

  • For more information on content, please contact Jody Allen, Professional Education and Research Coordinator, at jallen@casact.org.
  • For more information on attendee registration, please email the Actuaries' Resource Center at arc@casact.org.
  • For more information on the CERA Seminar other than registration or content issues, please email meetings@casact.org.
  • For more information on other CAS opportunities or regarding administrative policies such as complaints and refunds, please contact the CAS Office at (703) 276-3100 or office@casact.org.