To comply to the requirements for risk professionals globally

The Society of Actuaries (SOA) has launched a global risk management designation, the CERA (Chartered Enterprise Risk Analyst), as an attempt to cater to the requirements for risk professionals globally.

SOA signed a multilateral treaty in Hyderabad, India in which the Casualty Actuarial Society (CAS) joined the SOA in signing the treaty.

The 14 IAA member associations in 12 countries around the world will incorporate and adopt the name of the CERA qualification currently issued by the SOA in the US. It will recognise actuaries around the world who meet stringent education requirements in Enterprise Risk Management (ERM) and are governed by a strong code of professional conduct.

Fred Rowley, chairman of the Global CERA Steering Group, said: “The SOA CERA qualification has confirmed a strong demand for the qualification and provides a sturdy foundation of insights and experience for the new global designation. The signing of this treaty builds on this demand through the adoption of an updated syllabus and agreements on the recognition of the participants’ education systems.”

John Kollar, president of CAS, said: “The global ERM designation, CERA, will recognize actuaries as experts in the evaluation of enterprise risks and provide actuaries with broad opportunities to apply their skills in risk analysis. The CAS is delighted to join the global actuarial community in offering this designation.”

Katsumi Hikasa, president of IAA, said: “The IAA is pleased to see this initiative on the part of 14 of its member associations. This combination of technical skills and professional governance will ensure that all actuaries awarded the designation are fully equipped to face current real-world challenges.”