Chartered Enterprise Risk Analyst (CERA)
Enterprise Risk Management and Modeling Seminar for CERA Qualification
Sunday, September 8, 2013 – Tuesday, September, 10, 2013
The Westin Arlington Gateway
801 N Glebe Road
Arlington, VA 22203
Note: The next offering of this seminar will not be held until September 2014. Anyone planning to pursue the CERA designation through the CAS over the next 12 months should register for the September 2013 offering of the ERMM Seminar for CERA Qualification.
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). Since taking 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 to be actively engaged 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 require 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.
|Sunday, September 8, 2013||7:00 a.m. – 8:00 p.m.|
|Monday, September, 9, 2013||7:00 a.m. – 8:00 p.m.|
|Tuesday, September 10, 2013||7:00 a.m. – 3:00 p.m.|
The instructors are Stephen D'Arcy, Ph.D., FCAS, MAAA; Abbe Bensimon, FCAS, MAAA, a Senior Consultant with Towers Watson; and Alistair Macpherson, FIA, FCAS, CERA, MAAA.
Stephen P. D'Arcy holds the Robitaille Endowed Chair in Risk and Insurance at California State University Fullerton and is Professor Emeritus of Finance at the University of Illinois at Urbana-Champaign. He is a past-president of the American Risk and Insurance Association and past-president of the Casualty Actuarial Society and currently an external Advisory Board member of the Milliman Risk Institute. He teaches a graduate level enterprise risk management course at Cal State Fullerton. The courses he taught at the University of Illinois include an introduction to insurance, property-liability insurance, casualty actuarial mathematics, advanced corporate finance, managing financial risk for insurers and enterprise risk management. He has taught a seminar on finance and online courses on financial risk management and enterprise risk management for the Casualty Actuarial Society. He is the founder and principal of D’Arcy Risk Consulting, Inc., a firm specializing in education, measurement, and management of risk for organizations and individuals. He received his B.A. in Applied Mathematics from Harvard College and his Ph.D. in Finance from the University of Illinois.
Abbe Bensimon has been offering consultancy to a variety of P&C insurance companies on ERM and dynamic financial modeling issues for over ten years. Abbe has taught and helped develop a similar two-day ERM workshop/seminar numerous times to CAS members over the past five years as a continuing education offering. In this role, Abbe collaborated closely with key decision-makers on actionable risk and capital management strategies to ensure a consistent, objective, and realistic ERM framework. Abbe’s career spans nearly 30 years of experience in many actuarial roles, including reinsurance, underwriting, marketing, reserving, ratemaking, and ERM. Abbe is a member of the American Academy of Actuaries (MAAA) and a Fellow of the Casualty Actuarial Society (FCAS), a published author, and active CAS member.
Alistair Macpherson is a Director in the actuarial consulting practice with PricewaterhouseCoopers in New York. He has twelve years of P&C work experience as an actuary in London, Sydney, Paris and New York and credentialed as a CERA through examination with the UK Actuarial Profession (ST9). Alistair is a member of the ERM Committee of the Risk Management and Financial Reporting Council of the American Academy of Actuaries.
The Westin Arlington Gateway
801 N Glebe Road
Arlington, VA 22203
The Westin Arlington Gateway is located in the vibrant Ballston area of Arlington and two blocks from the Ballston Metro Station, providing direct access to Washington, D.C. This hotel in Arlington is minutes away from Smithsonian Museums, The White House, the Kettler Iceplex community ice rink that is also the training facility for The Washington Capitals, and all that Arlington and Washington, D.C. have to offer. At Westin, discover endless possibilities to help reach your potential.
The room rate is $175 (US) for single or double occupancy, plus applicable taxes. Reservations must be made prior to August 8, 2013.
Reservations may be made via telephone: 888-625-5144; Mention CAS/CERA to receive the group rate.
While reservations must be made prior to August 8, 2013, in order to receive the $175 (US) rate, there is no guarantee that rooms will be available should you wait until this date. CAS strongly suggests that you make your room reservations early to receive a room before the room block fills.
|Registration Fees (in U.S. Dollars)||If received on/before August 26, 2013||If received after August 26, 2013|
|Those with CERA basic education requirements*||$1,500||$1,600|
*Due to anticipated demand, registration is limited to CAS Members and recommended for those with CERA basic education requirements (i.e., all ACAS requirements and credit for Exams 7 and 9).
The registration fee will be refunded for a cancellation received on or before September 3, 2013, less a $100 administrative fee. Only written cancellations will be honored. Cancellation requests may be faxed to 703.276.3108 or e-mailed to email@example.com.
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.
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.
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