11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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ACS (Risk Analyst Track)

Education Professor

Kwong Koon Shing

ASA, CERA

11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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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.

Risk

11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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Expected Risk

Reserve Requirement

Unexpected Risk

Capital Requirement

11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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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)

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CERA Treaty OrganizationsDownloaded from CERA website

Compare the different requirements for ASA and CERA

11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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STAT201STAT203

STAT311STAT314

ECON101ECON102

FNCE101FNCE102/

201 STAT313

ECON107ECON207

STAT310

Downloaded from SOA website

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 Theory2. STAT 201 Probability Theory and Applications3. STAT 203 Financial Mathematics4. STAT 311 Risk Theory and Loss Models5. STAT 314 Statistical Methods for Actuarial Analysis6. ECON 101 Intermediate Microeconomics B7. ECON 102 Intermediate Macroeconomics B8. ACCT 101/111 Financial Accounting9. FNCE102 Financial Instruments, Institutions and Markets or

FNCE 201 Corporate Finance10. FNCE 101 Finance11. FNCE 305 Analysis of Derivative Securities or QF 301 Structured

Finance

11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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11 January, 2013 Information Session for Actuarial Science Major (RA Track)

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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)

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THE END

Q & A Session

http://www.ceranalyst.org/

http://www.actuaries.org.uk/

http://www.ceraglobal.org/

http://www.soa.org/