2/3 Mar 2015 in Cologne
CERA, Module: ERM - Concept and Framework
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. CERA pursues the following goals:
Based on the 2011-implemented education und examination system of the German Actuarial Association (DAV), the EAA offers a series of training courses and exams (through DAV) to study for the CERA designation to all actuaries who want to deepen their knowledge in Enterprise Risk Management.
By passing this training and examination course, members of the German Actuarial Association gain their CERA designation. Members of other actuarial associations have to get in touch with their association to check the possibility to use the EAA route.
The Seminar ‘ERM - Concept and Framework'
The seminar deals with the concepts of risk and ERM, with the contribution of ERM to value creation, with ERM culture, reporting, monitoring and governance, explains to approach the choice of a suitable ERM framework, covers stakeholders and standards and gives an overview over the 42 central elements of ERM.
The sessions will be complemented with practical examples, exercises and case studies.
The seminar is open to all persons who are interested in gaining an overview over the area of Enterprise Risk Management. It is also suited for non-actuaries because the mathematical aspects are treated lightly.
During this seminar, you will not need a laptop.
Purpose and Nature
This seminar is one part in a course that consists of six modules. They can be booked as a whole series to fulfil the requirements for receiving the CERA designation, or individually as CPD training. Written exams on the course are offered subsequently.
Please contact your actuarial association regarding the recognition of the seminars and the exams. The national association has to be an Award Signatory of the CERA Global Association so that an actuary who passes this course may receive the CERA credential.
Dr Irene Merk, SCOR SEIrene Merk holds the position of “team leader risk reporting and monitoring” at SCOR Global Life SE in Cologne, and is a Certified Enterprise Risk Actuary (CERA). She joined the German Actuarial Association DAV in 2004, where she is member of the Risk Management working group, and lecturer for various seminars Irene Merk read physics and computer science at RWTH Aachen and joined the reinsurance industry in 2001.
Dr Peter Brühne, Zurich Gruppe Deutschland
Eberhard Müller, Hannover ReDipl. Math. Eberhard Müller, born 1950, studied mathematics in Hamburg. He joined Hannover Re in 1982. Today he is Chief Risk Officer and Managing Director of the Group Risk Management division (GRM), reporting to the chairman and working with more than 60 employees. Eberhard Müller is member of the DAV since 1994. He represents Hannover Re in the CRO Forum and is member of several national and international working parties.
Axel Wolfstein, Direct LineAxel Wolfstein, born 1960, read mathematics and became a member of the German Actuarial Association DAV in 1995. From 1989 to1995 he worked in the statistical department of the German insurance association (GDV), and went on from 1995 to 2005 as Head of statistical department of the Verband öffentlicher Versicherer (association of public insurers). Since 2005, he is director of product management at Direct Line Versicherung AG, and member of the extended board.
Venue & Accommodation
The seminar will take place at the
Mercure Hotel Severinshof Koeln CitySeverinstraße 199, 50676 Cologne, GermanyPhone: +49 221 2013Fax: +49 221 2013666Hotel website
We arranged special prices for accommodation. The special price is 102 € per night, including breakfast. It is valid for bookings by 2 February 2015 out of our allotment “EAA”. Kindly book your accommodation as soon as possible directly with the hotel, as our allotment includes only a limited number of rooms, and note the hotel’s cancellation policy.
The CERA exams are organised by the Deutsche Aktuarvereinigung e. V. (German Association of Actuaries) in German and English.
For further information and exam registrations, please contact Tim Kampmann at
email@example.com. If this would be your first CERA exam, please kindly send a certificate confirming that you are a full member of your actuarial association via e-mail in addition.