NU Online News Service, Nov. 19, 3:15 p.m. EST
The Society of Actuaries said it is participating in an effort to make its Chartered Enterprise Risk Analyst designation a global risk management designation.
Schaumburg, Ill.-based SOA recently helped set the ball rolling by signing a multilateral treaty in Hyderabad, India, at the meeting of the International Actuarial Association, Ottawa, Ontario.
The SOA said it has been awarding the CERA designation in the United States and will continue to do so, but now that the CERA designation is a global designation, 13 other IAA member associations in 12 countries also award the designation.
To get the CERA designation, actuaries must meet enterprise risk management educational requirements and abide by a formal professional conduct code.
The new CERA syllabus reflects the challenges posed by the current financial crisis, according to SOA President S. Michael McLaughlin.
The SOA created the CERA program in 2007, and there are now 511 people with the designation working in industries such as insurance, health care and financial services, the SOA said.
The actuarial groups that signed the CERA treaty are based in Australia, Canada, Germany, France, Israel, Japan, Mexico, the Netherlands, Scotland, South Africa, Sweden and the United Kingdom as well as in the United States.
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