Chartered Enterprise Risk Analyst (CERA)
Enterprise Risk Management and Modeling Seminar for CERA Qualification
May 3-5, 2015
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 (ST9 exam). 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.
Vikas Shah FCAS, CERA: "I enjoyed the seminar. It was a good networking opportunity with future professionals in the ERM world, and the facilitators were clearly appropriate choices. The organization of the material and depth of content made the entire experience worthwhile."
The three main purposes of this three-day seminar are to:
- Prepare attendees for active engagement in the ERM process within an organization by discussing real world approaches to ERM as practiced by companies.
- Increase participants' understanding of ERM processes, tools and techniques through lectures, hands-on case studies, and role-playing.
- Provide ST9 candidates with information about the exam process to help them get ready for this exam.
This seminar will involve both lecture and hands-on application of economic capital model output through four ERM case studies ("mini-cases"). Throughout the three days, participants will have the opportunity to apply stochastic output in support of a company's risk-return decision-making and, in general, understanding its aggregate risk. Participants will work in teams to role play and present their approach to tackle various strategic management issues via the four mini-cases.
Sandy Wu FCAS, CERA: "I liked the format of the seminar because they really encouraged participation and discussion. It was a mixture of lectures and participants working in teams on different case studies throughout the seminar. One of the most valuable parts of the seminar was when they had a UK-qualified actuary come in to review the format of the exam and walk through a few sample problems. This really gave me a better understanding of how to answer the exam questions, which was invaluable when sitting for the exam."
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 view 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 45 participants. Attendees will be selected on a first registered, first accepted basis.
Avraham Adler FCAS, CERA: I enjoyed it thoroughly. While it wasn't an exam preparation seminar, it was, more importantly, an excellent framework in which to discuss ERM-related issues with others in the profession, and to get hands-on training in modeling, discussion, and decision-making.
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 Web Site.
ST9 Exam Schedule
Information regarding the 2014 exam timetable for the UK exams, may be found at, http://www.actuaries.org.uk/research-and-resources/documents/exam-timetable-2014-exams.
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 31 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.
- For more information on content, please contact Leanne Wieczorek, Meeting Planner, at firstname.lastname@example.org.
- For more information on attendee registration, please email the Actuaries' Resource Center at email@example.com.
- For more information on the CERA Seminar other than registration or content issues, please email firstname.lastname@example.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 email@example.com.