Actuaries recognise Enterprise Risk Management Thought Leaders

The Institute and Faculty of Actuaries is to award ten actuaries with the Chartered Enterprise Risk Actuary (CERA) qualification in recognition of their exceptional roles as thought leaders in the field of enterprise risk management.

The Institute and Faculty of Actuaries first issued this qualification in 2010 to actuaries who passed the ERM examination. However, earlier this year, the CERA Board, the international organisation overseeing the qualification, gave special permission to the Institute and Faculty to award the CERA qualification to a small number of actuaries who have demonstrated significant levels of experience and expertise in the field of ERM.  

The ten actuaries who have been given this award are:

• Neil Cantle (Principal and Consulting Actuary, Milliman)
• Seamus Creedon (Consulting Actuary and Non-Executive Director)
• Dean Dwonczyk (Chief Actuary, Catalina Holdings)
• Andrew Hitchcox (Chief Risk Officer, Kiln)
• Malcolm Kemp (MD, Nematrian & Adjunct Professor, Imperial College London)
• Colin Ledlie (Group Chief Risk Officer, Standard Life)
• Kathryn Morgan (Policy Implementation Manager, Financial Services Authority)
• Paul Sweeting (MD, JP Morgan Asset Management & Professor of Actuarial Science, University of Kent)
• Elliot Varnell (Consulting Actuary, Milliman)
• Colin Wilson (Technical Director and Head of Investment & Risk, Government Actuary’s Department)

Philip Scott, President of the Institute and Faculty of Actuaries said:

“This award not only recognises the major contribution these individuals have made to thought leadership in the field of Enterprise Risk Management, but also their commitment to embedding ERM within industry practice.   

“There are now 108 CERA qualified actuaries working in a wide variety of roles. From regulators and consultants to insurers and asset managers, the CERA qualification is proving an invaluable asset to actuaries as they apply their skill-sets to new challenges

“Our new ERM thought leaders will act as ambassadors for both ERM and the CERA qualification, impressing on both actuaries and the wider business community the value of the qualification."

Ends

 Enquiries: Tel. Michael Scanlan on +44 (0)20 7632 1453 / +44 (0)7798 804 871 or email michael.scanlan@actuaries.org.uk

Notes to Editors:

1. CERA was first developed by the US Society of Actuaries which later joined with a group of other actuarial associations, including the Institute and Faculty of Actuaries to sign the CERA Board Treaty in Hyderabad in November 2009.  It was the first time that actuarial organisations had worked globally to offer a specialized professional credential.The Treaty represents a global commitment to lead and uphold best practice in risk management worldwide and strengthens international recognition of the actuarial profession's expertise in the field of risk management.
2. CERA is one of the most comprehensive and rigorous enterprise risk management qualifications available. It aims to address the urgent need for highly-qualified risk management professionals worldwide, especially in the financial sector. CERA is designed to equip actuaries to fulfil roles such as chief risk officer in fields such as insurance; reinsurance; consulting; energy; infrastructure; transport; manufacturing; technology; media; and heathcare. Importantly for complex financial institutions it covers individual risk categories and how they interact.  In preparation for Solvency II and Basel III the qualification requires understanding of how to measure, model and manage risks and how economic capital can be best applied.
3. The Institute and Faculty of Actuaries currently has 108 CERA qualified actuaries.
4. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
5. The Profession is governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of the Profession in society.
6. Members of the Institute and Faculty of Actuaries have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.
7. The Profession is available to provide expert comment to the media on a range of actuarial-related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.

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