1. CERA Update CAGNY 12/6/12 John Kollar, FCAS, MAAA, CPCU

2. What is the CERA? Global actuarial ERM credential –Are there any other ERM credentials that are global? –Grew to 1,000 CERAs in October of 2011 What does CERA mean? –Depends on where you are North America: Chartered Enterprise Risk Analyst UK (IFA): Chartered Enterprise Risk Actuary Benelux: a bank! “C” can also mean “Certified” CERA is the Brand Registered mark in many countries (IP)

3. CERA Benefits to worldwide actuarial profession –Strengthens international recognition of the actuarial profession’s ERM expertise –Promotes the development of more ERM actuaries –Presents new opportunities for actuaries –Notifies employers of actuaries’ risk management expertise Advances the ERM (risk management) cause

4. Multilateral agreement Signed in November of 2009 in India First Global actuarial credential Governs the actions of the CGA including the CERA Treaty Board that it established Every Treaty Signatory agrees to recognize every CERA’s right to practice in its “territory” Every Treaty Signatory agrees to market the CERA CERA Treaty

5. CERA Global Association Founded on 7 May 2010 (Switzerland) CERA Treaty Board – operational body CGA Board & CGA General Assembly Treaty Administrator – IFA (UK) Funded by Treaty Signatories Annual budget including cost allocations Marketing – branding, website, Linkedin, Facebook, newsletter, etc. What is the CGA?

6. Grants Award Signatory status to actuarial associations –Applicant can meet requisite obligations Provide CERA education directly or indirectly Has Continuing Education strategy Is a Full Member Association of the IAA –Review Panel conducts an rigorous review of the association’s CERA program Initial Follow-up reviews –Associations award CERA to qualified actuaries Reviews Syllabus & Educational Standards every 3 years Accepts new CGA members (Treaty Signatories) who demonstrate commitment & ability to meet obligations and Treaty terms CERA Global Association (CGA)

7. Australia* Canada* Chinese Taipei (new) France* Germany* Israel Japan* *Award Signatories Mexico Netherlands* South Africa* Sweden* UK* US (CAS* & SOA*) CGA Members (Countries)/ Treaty Signatories (14 = 5 continents)

8. Announcements Participating associations Quality assurance CERA brand CERA Treaty FAQs CERA Board How to qualify as a CERA Routes to CERA Website links Why employ a CERA? CERA learning objectives ERM news sites ERM organizations Business continuity Economic capital Types of risk Solvency II Events CERA Website (www.ceraglobal.org)

9. Treaty Board approved CAS as an Award Signatory (2011) - standard (exam) route ACAS Exam 7 - Policy Liabilities, Insurance Company Valuation & ERM Exam 9 - Financial Risk and Rate of Return ERMM Seminar (2 sessions per year) – ERM & modeling IFA (UK) ST-9 exam CGA approved CAS Experienced Practitioner Pathway (EPP) CAS ERM Committee exploring alternative routes to ST-9 CAS & CERA

10. 6 CAS members awarded CERA by CAS via ST-9 exam 92 CAS members accepted under CAS EPP –Most completed recent EPP seminar –Second EPP seminar to be held –Complete paperwork –CAS Broad approval 39 CAS members received CERA from SOA and will be eligible for transfer of the CERA to the CAS October ST-9 exam could generate more CAS CERA’s 10EPP Lecture 1: Overview of CERA Designation

11. CGA member CAS –VP-ERM –CAS ERM Committee –Admissions Committees –Research Committees –Continuing Education –Marketing Joint Risk Management Section ERM Symposium CAS & CERA

12. CAS & CERA & You Volunteer; get involved! Invest in your future Invest in your CERA Invest in your employer Invest in your profession