ACS (Risk Analyst Track)
Education Professor
Kwong Koon Shing
ASA, CERA
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
1
Where do risk analysts work?
• Risk management positions, such as risk analyst, risk
manager and chief risk officer are needed in the fields:
– Insurance
– Reinsurance
– Consulting firm
– Bank
– Transportation
– Technology
– Manufacturing
– Healthcare
– Etc.
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
2
Risk
Expected Risk
Unexpected Risk
Reserve Requirement
11 January, 2013
Capital Requirement
Information Session for Actuarial
Science Major (RA Track)
3
What is the Chartered Enterprise Risk
Analyst (CERA)?
• The CERA is an international credential for professions
in enterprise risk management (ERM)
• It was launched in 2007 by Societies of Actuaries (SOA),
USA
• In November 2009, 14 actuarial organizations from 12
countries signed a global treaty establishing the CERA
credential as the globally recognized ERM credential
• Besides SOA Exams, you can also obtain the CERA
designation by taking the exams offered in UK, Australia,
Canada, etc.
• Up to January 2013, there are more than 1000 persons
qualified as CERA (17 in Singapore; 27 in China; 44 in
Hong Kong; 19 in Taiwan; 8 in Korea; 8 in Japan)
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
4
CERA Treaty Organizations
Downloaded from CERA website
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
5
Compare the different requirements for ASA
and CERA
Downloaded from SOA website
STAT311
STAT314
STAT201
STAT203
ECON101
ECON102
FNCE101
FNCE102/
201
STAT313
STAT310
ECON107
ECON207
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
6
Courses for the Risk Analyst Track
• 11 compulsory courses (for both AA and RA
tracks) for students admitted in 2012/2013
1. STAT 101 Introductory Statistics or STAT 151 Introduction to
Statistical Theory
2. STAT 201 Probability Theory and Applications
3. STAT 203 Financial Mathematics
4. STAT 311 Risk Theory and Loss Models
5. STAT 314 Statistical Methods for Actuarial Analysis
6. ECON 101 Intermediate Microeconomics B
7. ECON 102 Intermediate Macroeconomics B
8. ACCT 101/111 Financial Accounting
9. FNCE102 Financial Instruments, Institutions and Markets or
FNCE 201 Corporate Finance
10. FNCE 101 Finance
11. FNCE 305 Analysis of Derivative Securities or QF 301 Structured
Finance
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
7
Courses for the Risk Analyst Track
• Compulsory courses for the RA Track only (select any
three of the followings)
– Risk Management and Insurance (FNCE215)
– Enterprise Risk management (FNCE309)
– Computing Technology for Finance (QF205)
– Global Financial Risk Management (QF305)
– Life Contingent Risks (STAT310)
– Quantitative Risk Analysis (STAT313)
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
8
http://www.ceraglobal.org/
http://www.ceranalyst.org/
http://www.actuaries.org.uk/
http://www.soa.org/
THE END
Q & A Session
11 January, 2013
Information Session for Actuarial
Science Major (RA Track)
9