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- Chartered Enterprise Risk Actuary
- Chartered Enterprise Risk Analyst
- Certified Enterprise Risk Actuary
- Certified Enterprise Risk Analyst
CERA is a global risk management credential or qualification, which equips actuaries with strong ERM knowledge and helps them to make better business-decisions.
Is CERA worth it?
Yes, CERA is worthy. The world is ever changing, evolving, technologically advanced, enterprise planning, adapting new business strategies and in this changing world, risk perception is the essence. CERA may have the designation from a risk manager to the Chief Risk Officer.
How did the CERA come into existence?
CERA was a designation released by the Society of Actuaries in 2007. Actuaries have been dominantly working in the Insurance and pension funds sector, to widen actuarial reach in other sectors, the designation was released.
In 2009, the CERA Global Association (CGA) was formed in 2009, when SOA signed the CERA board treaty with 16 Actuarial Bodies, including IAI.
Currently, there are 31+ Actuarial Bodies affiliated with CGA, including IFoA.
The syllabus of CERA was agreed by all the members of the CGA. It comprises ERM framework and process, risk identification, categorisation, modeling and Capital Assessment.
Different Actuarial bodies have different course structure and their own route to CERA qualification, which is approved by the CGA. The CGA monitors the syllabus and qualification process by each institute to check whether standards are met.
If an Actuarial Aspirant wants the CERA qualification, the Institute must be affiliated with CGA.
IFoA: If someone wants to accredit themself with CERA qualification, he must clear SP9 paper and attend a seminar on CERA.
IAI: If someone wants to accredit themself with CERA qualification, he must have passed SP9, or he must pass SP9 as one of his additional ST subjects and then attend a seminar on ERM.
Fellow actuaries are eligible for CERA qualification, but there are some routes through which student members can also acquire it.
Area of work
With CERA qualification, actuaries can work in these sectors with their expertise in ERM:
- Insurance and Reinsurance
- Financial Consulting
- Power and Energy
For any further information on CERA qualification and insights, here is the link www.ceraglobal.org