Enterprise Risk Management and Modeling Virtual Seminar for CERA Qualification
Notice: The CAS will now be offering the ERMM for CERA Seminar every other year. Thus, the next seminar will be held in 2022. Please contact Wendy Ponce with any questions or concerns.
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 Exam SP9, Enterprise Risk Management Specialist Principles, 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:
- 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.
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.
Attendance is limited to a maximum of 20 participants. Attendees will be selected on a first registered, first accepted basis.
Download a complete schedule for the April seminar.
The instructors are Kevin Madigan and Rick Gorvett.
Kevin Madigan, ACAS, MAAA, CERA, PhD
Kevin Madigan is a consulting actuary with a global professional services firm, and has almost 25 years of broad industry, consulting, research, and teaching experience. A former academic mathematician, Kevin’s P&C industry experience includes 6 years in the Bermuda reinsurance market as a pricing actuary and Deputy CUO, and 6 years at the start of his insurance career as a direct primary and excess commercial lines pricing actuary. Much of his career in industry was focused on capital adequacy and allocation, and dynamic risk modelling. Kevin has advised clients for years on design and implementation of ERM programs and ORSA processes and procedures. He is a frequent writer and speaker on underwriting, actuarial, and risk management topics. Examples include “Linking Insurer Strategy With ERM” at the 2018 International Congress of Actuaries (Berlin, Germany); “Underwriting against a Backdrop of Enterprise Risk Management” at the 2017 Underwriting Collaboration Seminar sponsored by the CAS and the CPCU Society; “The Underwriting Cycle – Is It Economics or Behavior or Both?”, the opening general session of the 2016 Casualty Actuarial Society Annual Meeting; and “Catastrophe Issues” at the 2014 International Congress of Actuaries (Washington, DC).
Additionally, Kevin is an adjunct lecturer at Columbia University’s School of Professional Studies, where he teaches classes on Underwriting, Strategic Communication, and Insurance Risk Management. He is an Associate of the Casualty Actuarial Society, a Chartered Enterprise Risk Analyst, and a member of the American Academy of Actuaries. Kevin holds a BS in Mathematics from Auburn University, and an MA and PhD in Mathematics from the University at Albany - SUNY.
Rick Gorvett, FCAS, CERA, MAAA, ARM, FRM, PhD
Rick Gorvett is Professor and Chair of the Mathematics Department at Bryant University in Smithfield, RI.
Prior to joining Bryant this Summer, Rick was the first Staff Actuary of the Casualty Actuarial Society, where his primary activities involved research, education, and being a spokesperson for the CAS. He is also editor-in-chief of Variance, the CAS’s scholarly publication, has served on the board of directors of the CAS, and has been president of the Midwestern Actuarial Forum.
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. While at the University of Illinois, he won the LAS Dean’s Award for Excellence in Undergraduate Teaching and the Campus Award for Excellence in Undergraduate Advising, and appeared on the campus excellent teacher list 46 times. Rick has published over 40 articles, won six research awards, given over 80 scholarly presentations, and been active in developing and delivering over 40 professional education seminars and online courses. Prior to entering academia, Rick was a corporate and consulting actuary, including Senior VP of a large commercial insurer.
Rick is a Fellow of the Casualty Actuarial Society, a Chartered Enterprise Risk Analyst, a Member of the American Academy of Actuaries, an Associate in Risk Management, and he has the Financial Risk Manager designation. He has a B.S. in mathematics from the University of Illinois at Chicago, an MBA in statistics and econometrics from the University of Chicago, and a Ph.D. in finance from the University of Illinois at Urbana-Champaign.
Online and print registration are now closed. The event is now sold out.
REGISTRATION FEES (IN U.S. DOLLARS)
IF RECEIVED ON/BEFORE APRIL 13, 2020
IF RECEIVED AFTER APRIL 13, 2020
The registration fee will be refunded for a cancellation received on or before the refund deadline 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 website.
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 22.8 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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- For more information on the CERA Seminar other than registration or content issues, please email firstname.lastname@example.org.
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