Karl Schriek has become the 1,000th person to earn the global Chartered Enterprise Risk Actuary credential.
Mr Schriek is a Fellow of the Actuarial Society of South Africa and an actuary at General ReinsuranceAfrica. He said: 'I am excited about what the CERA qualification has to offer. It is a truly robust risk management credential and CERAs are well positioned to play a leading role in the future of risk management.'
Fred Rowley, chair of the CERA Global Association, said CERAs were 'uniquely qualified' to address all types of risks, including financial, operational and strategic risks, because of their training in qualitative and quantitative aspects of enterprise risk management. They also have experience in integrating diverse insights into business solutions, he said.
CERAs are held to professional standards of conduct that identify the responsibilities they have to the public, their clients and employers and the actuarial profession. He added: 'Businesses that rely on CERAs can make smarter, more confident decisions related to complex risk management challenges affecting business and society.'
Organisations in Australia, Canada, The Netherlands, South Africa, the UK and the US are currently authorised by the CERA Global Association to award the CERA credential to individual actuaries who have satisfied the requisite education and training requirements.
The organisations themselves are first subject to a review of their proposed CERA programme, to ensure it meets the global Association's standards.
The CERA was initially established in the US by the Society of Actuaries in 2007, before In 14 national associations from 12 countries joined in 2009 to create the global CERA credential. It aims to address the growing need for highly qualified risk professionals, especially in the finance sector.
The current members of the CERA Global Association cover five continents and include: Institute of Actuaries of Australia; Canadian Institute of Actuaries; Institut des Actuaires (France); Deutsche Aktuarvereinigung e.V. (Germany); Israel Association of Actuaries; Institute of Actuaries of Japan; Colegio Nacional de Actuarios A.C. (Mexico); Het Actuarieel Genootschap (Netherlands); Actuarial Society of South Africa; Svenska Aktuarieföreningen (Sweden); Institute and Faculty of Actuaries (UK); Casualty Actuary Society (US); Society of Actuaries (US).