ACS (Risk Analyst)

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. 11 January, 2013

Information Session for Actuarial Science Major (RA Track)

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Risk

Expected Risk Unexpected Risk Reserve Requirement 11 January, 2013

Capital Requirement

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 Organizations Downloaded from CERA website

11 January, 2013

Information Session for Actuarial Science Major (RA Track)

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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)

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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)

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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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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)

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