Minutes WG CERA (Certified Enterprise Risk Actuary)

Date: 20/06/2011

Participants / Philippe Delongueville, Luc Berg, Stijn Desmedt, Roger Bou Harb, Jean-Claude Depooter, Aurélie Miller, Antoine Delwarde, Frederic Allosery, kurt_lambrechts,
Apologized / Marc Henry, Philippe Dubuisson
Invited / …
Minutes / kurt_lambrechts
  1. Welcome
    Kurt welcomes the large group of attendants, who either by experience or by browsing the distributed zip file, are all acquainted with the CERA program.
    The large attendance also shows an interest in having a “real” working group on ERM, besides this one that is exclusively focused on setting up CERA in Belgium. Kurt will contact the president of ComProf, J-F Hannosset, on this.
  2. CERA outside Belgium
  • CERA global is a Swiss Verrein, which is entitled to certify CERA programs by actuarial associations. Certification costs are for the association.
  • Philippe Delongueville and Marc Henry have visited the French institut des actuaires (cf separate minutes). They are very cooperative in allowing IABE members to their courses in Paris or even have some courses organized in Brussels (primarily in French, English only a suggestion). Interesting in the program is the mix between theory and practice, both in the course subjects as in the people teaching. Total cost: 12000 EUR
  • AG/AI (NL) has just finished their first course cycle (16 days, 6800 EUR), but we know only about it from their website. We will discuss CERA when we meet them on July 12. (things we want to know: #participants, planned frequency, collaboration, program contents..)
  • In the UK, CERA is just another exam. People can just do it by self-study, although attending commercial courses would increase the probability ofpassing.
  1. CERA in Belgium
    The working group was very motivated to explore first the chances of having our own IABE CERA program.
    As told by the French, this takes lots of effort and working hours to set up. We are however confident that we can assemble the required number of academics and practicing actuaries.
    Before we do this effort and actually organize the programs, all courses etc., we need a realistic view on the potential of CERA in Belgium: how many effective members are interested to do it, how many employers are interested to pay for it and to stimulate participation?
    The most sensible next steps are then:
    1) to make a more specific draft of a CERA program in Belgium. For this, we can start from a document by Marc Henry and Philippe Dubuisson: can we find the required teachers, estimate the costs and subscription fee ?
    e.g. cost of exclusively Belgian teachers would be about:
    16 days x 8hr (as in NL) x 300 EUR (IABE rates) / 10 attending = 3.840 EUR
    apart from administration costs (fixed initial costs + recurring)
    With NL or FR teachers, price will increase
    2) to inform first our members and employers about CERA and its benefits, and then do a survey about the potential number of candidates.
    CERA is also an exclusive brand name in Belgium of CERA holding, Leuven. Kurt L and Ron Hersmis met them to discuss joint use of the name. In Holland they saw little problem because CERA holding is not active or known there. For Belgium however they insist (backed by their patent) that there may never be confusion howsoever. e.g. they have already a “CERA chair” and “CERA award”, so we can’t use those names without writing out CERA in full.
  2. Actions
    The meeting came to the following concrete plan:
  3. Draft a concept of a CERA educational program in Belgium
  4. Syllabus, modules, courses
  5. Teachers: academics and practicing
  6. Costs for IABE (accreditation procedure!)
  7. Estimated subscription fee
  8. Increase awareness of our members by starting to send them regular messages about CERA (mail, website, general meeting…)
  9. Increase awareness among companies employing actuaries
  10. Maintain contacts with FR, NL, (UK) for fallback scenarios when the draft full Belgian program and the potential in Belgium do not match:
  11. (part of) teachers coming from FR and/or NL
  12. part of courses in NL and/or FR and/or by self study
  13. all courses abroad (minimal scenario: ensure that IABE members can achieve CERA at the Dutch, French or UK institute)

Timing

2013 would the quickest feasible moment to start a first course cycle if:

- we can draft a concept program for BE and can get an informed feedback from members and employers about their interest

-We can dedicate 2012 to develop the actual course program

2013 is also the start of a new 3-year CPD cycle, for which CERA would provide a great lists of point gaining opportunities.
At the same time, the current success of CPD (# effective members actually registering min. 60 points) is crucial for CERA, since only effective members would be allowed.
at the earliest:

2011
Information campaign

Draft program, potential survey and business plan

2012

Appoint responsible person or working group, work out the business plan

2013
First program cycle
TODO

Contacts with FR / Marc H, Philippe DL / Wait for draft program BE
Contacts with NL / Kurt L, Philippe DL / Meeting July 12
Distribute document by Marc H en Ph. Dubuisson / Kurt L
Draft program / wg members
Information campaign / Kurt L
Discuss separate “real” wg ERM with comprof / Kurt L

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