If You’re an Actuary, You’re Only 1-1/4 Steps Away from Becoming a CERA

by Mike McLaughlin, SOA President, 2009-2010

 McLaughlin If you are already an ASA or FSA, you’re only 1-1/4 steps away from becoming a CERA. What steps do you need to take to earn the CERA designation?

1.) Pass the Advanced Finance/ERM Exam

¼.) Complete the Operational Risk Module

Granted, these aren’t easy steps—nor should they be—to earning the most comprehensive and rigorous enterprise risk management credential available, but I did want to illustrate the short path to CERA.

The CERA brings significant benefits to experienced actuaries.

Experience in enterprise risk management is valuable to companies, and a seasoned CERA could be a valuable asset to a corporate Board of Directors. Greater expectations are being placed on boards to strengthen risk oversight and corporate governance. They are requiring expertise such as risk management, financial management and executive compensation. These are actuarial skills!

These are exciting times in the life of the CERA! This is the first actuarial credential recognized by multiple actuarial organizations from around the world—13 in all.

There are currently 712 CERAs, and the number will continue to grow as members of the UK actuarial profession become the first to award the credential internationally, with other countries soon to follow. As a global credential, there will be new opportunities for actuaries worldwide to use their rigorous training and expertise to serve an expanding array of fields and areas of interest. On my recent trip to Asia, several FSAs indicated they were considering studying for the CERA.

If you’ve been thinking about it, I urge you to become a part of the growing body of globally recognized enterprise risk management experts. Join this group of actuaries who are advancing the field of ERM and the actuarial profession!

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