Global CERA credential –Announcement'Hyderabad Treaty launches new risk management credential globally'
The Institute of Actuaries of Japan announced today the launch of a global risk management credential, the CERA
(Chartered Enterprise Risk Actuary), to address the urgent need for highly‐qualified risk professionals globally,
especially in the financial sector. The launch was marked by the Institute of Actuaries of Japan signing of amultilateral treaty in Hyderabad, India, during the meetings of the International Actuarial Association (IAA). The
treaty was signed by fourteen IAA member associations based in twelve countries around the world, including
many of the major world economies.
Since the G20 meetings in Pittsburgh, the concept of combining strong technical skills with professional
standards of conduct has been gaining ground. This credential, and the discipline it represents, address that needdirectly. The credential will be awarded through qualified participating associations, and will incorporate andadopt the name of the highly respected CERA currently issued by the Society of Actuaries (SOA) in the UnitedStates. It will identify actuaries who meet stringent education requirements in Enterprise Risk Management(ERM) and are governed by a strong code of professional conduct.
Fred Rowley, Chairman of the Global CERA Steering Group said “The demand for highly qualified professionals inthis field is growing rapidly as management and boards recognize the need for substantially improved risk
management. Markets and regulators are demanding better and more informed decision making and riskcontrols.”“The SOA CERA qualification has confirmed a strong demand for the qualification and provides a firm
foundation of insights and experience for the new global credential,” Mr. Rowley said. “The signing of this treaty
builds strongly on this demand through the adoption of an updated syllabus and agreements on the recognitionof the participants’ education systems.”
S. Michael McLaughlin, SOA President, said “The technical standards of the qualification establish a benchmark
for rigour and quality assurance. The syllabus is comprehensive and addresses the important challenges posed by
the current financial pressures, across all major sectors. We are confident that it will satisfy the risk management
needs of enterprises and the public they serve, around the world.”Speaking at the launch, IAA President Mr Katsumi Hikasa said “The IAA is pleased to see this initiative on the partof fourteen of its full member associations. This combination of technical skills and professional governance will
ensure that all actuaries awarded the credential are fully equipped to face current real‐world challenges.”A full list of participant associations is attached.
16 November 2009
The Institute of Actuaries of Australia (Australia)
Canadian Institute of Actuaries / Institut Canadien des Actuaires (Canada)Institut des Actuaires (France)
Deutsche Aktuarvereinigung e.V. (Germany)
Israel Association of Actuaries (Israel)
Institute of Actuaries of Japan (Japan)
Colegio Nacional de Actuarios A.C. (Mexico)
Het Actuarieel Genootschap (Netherlands)
Actuarial Society of South Africa (South Africa)
Svenska Aktuarieföreningen (Sweden)
Faculty of Actuaries (UK)Institute of Actuaries (UK)
Casualty Actuarial Society (USA)Society of Actuaries (USA)