Over the last decade, the concept of Enterprise Risk Management (ERM) has gained significant momentum in the insurance industry and beyond. This came with the recognition of risk as being something not per se to be avoided, but to be optimally exploited in the frame of a company's risk appetite. ERM is going beyond traditional risk management in that it is holistic, and encompasses strategic risk management as well as risk culture. 

Many of these developments are reflected in regulatory changes, such as the MaRisk in Germany, or the upcoming Solvency II (although these focus on policyholder protection and less on opportunities). Solvency II will require an actuarial and a risk management function in all (re-)insurance undertakings. Actuaries should see this as an opportunity to broaden their role, and to show that they are ideally equipped to carry out these tasks.

Against this backdrop, in November 2009, several actuarial associations launched the CERA credential as a global risk management designation for actuaries.

Based on the 2011-implemented education und examination system of the German Actuarial Association DAV to study for the CERA designation, the EAA offers a series of training courses and exams (through DAV) to all actuaries who want to deepen their knowledge in Enterprise Risk Management.

CERA, Module 1: "ERM: Concept and Framework", 12/13 September 2013, Cologne

CERA, Module 2: "Quantitative Methods of ERM", 23-25 September 2013,Cologne 

Please note that the CERA title can only be awarded by your local actuarial association and not by the EAA directly. For more information please contact the EAA or your local association.

Further information on the seminars is available on our website and in the attachments.