FAQs
- What is the Chartered Enterprise Risk Analyst (CERA) credential?
- What are the benefits of receiving the CERA credential?
- What is the CERA credential process?
- What is the Experienced Practitioner’s Pathway (EPP)?
- What is the application process for the Experienced Practitioner’s Pathway (EPP)?
- How does the CERA credential differ from the FSA or ASA credential?
- How is the CERA credential different from the CFA charter?
- What industries offer the most opportunities from the CERA credential?
- What is Enterprise Risk Management (ERM)?
- What is the Society of Actuaries (SOA)?
- How do I start earning the CERA credential?
What is the Chartered Enterprise Risk Analyst (CERA) credential?
The Chartered Enterprise Risk Analyst (CERA) credential is a new international credential encompassing the most comprehensive and rigorous demonstration of enterprise risk management (ERM) expertise available. The CERA credential stems from the same rigorous process through which actuaries earn other credentials, the Fellow of the Society of Actuaries (FSA) and Associate of the Society of Actuaries (ASA). Finally, the CERA marks the first new credential since the Society of Actuaries’ (SOA) founding in 1949.
What are the benefits of receiving the CERA credential?
The Chartered Enterprise Risk Analysts (CERA) credential training does not stop with mathematics and financial engineering. A CERA applies both qualitative and quantitative insights to enterprise risk management (ERM) receiving the most comprehensive credential in the rapidly emerging field.
In addition to the high recognition of actuarial credentials among employers in insurance, reinsurance and consulting markets, A CERA is a member of a professional organization with a code of ethics, professional standards, education requirements and discipline.
What is the CERA credential process?
The Chartered Enterprise Risk Analyst (CERA) credential takes an estimated three to four years to complete, which includes a rigorous curriculum of five examinations, as well as an educational module and professionalism course. The CERA credential curriculum includes the topics of probability, financial mathematics, micro/macro economics, construction of actuarial models, advanced finance and enterprise risk management (ERM), financial reporting and operational risk.
What is the Experienced Practitioner’s Pathway (EPP)?
The CERA credential is available to a select group of current SOA members who have demonstrated expertise and substantial experience in the field of enterprise risk management (ERM), without completing the required examination process.
CERA Experienced Practitioners have a minimum of three years of substantial experience in the ERM field.
What is the application process for the Experienced Practitioner’s Pathway (EPP)?
Current FSAs and ASAs who are interested in being considered for the CERA Experienced Practitioner’s Pathway should submit:
- A current resume, including job titles and length of positions held
- A cover letter (limited to two pages) explaining the breadth and depth of enterprise risk management (ERM) experience related to each of the specific criteria noted above
- The name and contact information of a professional reference who is familiar with your enterprise risk management work
The resume and cover letter should be e-mailed to for consideration.
Please include your name on each page of your submission. The CERA credential Experienced Practitioner’s Pathway will be open to applicants through July 1, 2008.
How does the CERA credential differ from the FSA or ASA credential?
For career Fellows of the Society of Actuaries (FSA) and Associates of the Society of Actuaries (ASA), the Chartered Enterprise Risk Analyst (CERA) credential offers another avenue of opportunity, added competitive edge and professional growth. As new roles in enterprise risk management (ERM) continue to develop, actuaries are becoming leaders in the practice, by providing a 360-degree view of an organization's risk profile.
How is the CERA credential different from the CFA charter?
A CERA gains knowledge in mathematics and financial engineering just like some of the other business professionals, but A CERA differs in that they also have unique insight in enterprise risk management (ERM).
A CERA does not solely focus on capital management, but on how operational risk, investment risk and strategic risk collectively impact an organization. Therefore, A CERA is qualified for such positions as risk analyst, risk manager or chief risk officer.
What industries offer the most opportunities from the CERA credential?
A CERA is trained to model future events by converting data into information that leads to strategic decisions, so it can be applied to many areas where actuaries are increasingly working in such as broader financial services, energy, transportation, manufacturing and healthcare, as well as insurance and human resources/benefits consulting.
What is Enterprise Risk Management (ERM)?
Enterprise risk management (ERM) is the process of coordinated risk management that places a greater emphasis on cooperation among departments to manage the organization’s full range of risks as a whole. Enterprise risk management offers a framework for effectively managing uncertainty, responding to risk and harnessing opportunities as they arise.
What is the Society of Actuaries (SOA)?
The Society of Actuaries (SOA) is an educational, research and professional organization dedicated to serving the public and its members. The SOA’s mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal problems involving uncertain future events. To learn more, visit www.soa.org .
