How is the career path on cera?

[actuarialpost]

I would like to know the job opportunities on cera. basially I will need to pass one more exam, Advanced Finance/ERM (AFE) Exam, and one e-learning module plus one seminar.

I would like to know if it is worth working on cera regarding the time and money input and the future career path.

Thanks a lot.

[Tom]

It's a growing field, and the CERA credential is good stepping stone to eventually becoming a CRO.

I know of a handful of available positions that specifically mention this credential, and I expect that number to grow as the designation gets more exposure.

[actuarialpost]

Originally Posted by Tom

It's a growing field, and the CERA credential is good stepping stone to eventually becoming a CRO.

I know of a handful of available positions that specifically mention this credential, and I expect that number to grow as the designation gets more exposure.

Actually you gave me a good hints though. I search on indeed.com website and could not find many positions are requiring cera designation.

A little bit disappointed. Don't if I should go for this designation.

[studentnel]

Originally Posted by Tom

It's a growing field, and the CERA credential is good stepping stone to eventually becoming a CRO.

From what I've heard... CERA is NOT very recognized by employers.

FRM, CFA and even that PRM thingy is.

[Talmage]

Originally Posted by studentnel

From what I've heard... CERA is NOT very recognized by employers.

FRM, CFA and even that PRM thingy is.

But CFA requires 3 years financial work experience. Traditional actuarial roles don't qualify. FRM is okay, but only offered a few times a year and on a specific date (like an actuarial exam). PRM is offered on demand any day of the year and has the same recognition as FRM, plus I believe it's cheaper. Get a PRM.

I wouldn't bother with the CERA unless it requires very little extra work. For example, I'm considering CERA because I'll already have to take AFE for my FSA track and I'm already an ASA, so it would just require doing the CERA module.

[Stan]

Originally Posted by Talmage

But CFA requires 3 years financial work experience. Traditional actuarial roles don't qualify. FRM is okay, but only offered a few times a year and on a specific date (like an actuarial exam). PRM is offered on demand any day of the year and has the same recognition as FRM, plus I believe it's cheaper. Get a PRM.

I wouldn't bother with the CERA unless it requires very little extra work. For example, I'm considering CERA because I'll already have to take AFE for my FSA track and I'm already an ASA, so it would just require doing the CERA module.

FYI, the module that you are referring to is now mandatory for the FSA track. So if you go for your CERA via the ERM track to FSA, you will not have to do anything else. This is what I am doing, and should be on the next CERA list.

[actuarialpost]

It's a little bit disappointing after reading the information.

Don't know if I should pursue it as I have passed first couple of exams required for cera, and now I am working for other industry than insurance.
But don't want to waste the exams I have passed and would like to get a designation based on the exams I have passed. Any suggestions on whether I should continue to take exams in SOA or CAS?

Thanks a lot.

[Talmage]

Originally Posted by Stan

FYI, the module that you are referring to is now mandatory for the FSA track. So if you go for your CERA via the ERM track to FSA, you will not have to do anything else. This is what I am doing, and should be on the next CERA list.

I love how they keep changing things. Originally the FAQ said the CERA module was different and wouldn't satisfy the ERM FSA requirements, nor would the FSA module count towards CERA. Of course, that was also back a few months ago when Financial Economics was supposed to become Advanced Financial Economics for the ERM and Investment tracks, not Financial and Health Economics. They made that switch without an announcement just a month or so before release. I guess it's too much effort to create track-dependent modules, but you'd think they would have known that from the outset. Anyway, guess I'm glad I don't have to do anything else for my CERA then.

[studentnel]

Originally Posted by Talmage

But CFA requires 3 years financial work experience. Traditional actuarial roles don't qualify. FRM is okay, but only offered a few times a year and on a specific date (like an actuarial exam). PRM is offered on demand any day of the year and has the same recognition as FRM, plus I believe it's cheaper. Get a PRM.

I wouldn't bother with the CERA unless it requires very little extra work. For example, I'm considering CERA because I'll already have to take AFE for my FSA track and I'm already an ASA, so it would just require doing the CERA module.

I've heard some pretty bad things about PRM... it's not bad to have, but not on the "priority" list.
Experience > CFA > FRM (depending on what you're applying for)

Networking would be in there somewhere too.

Originally Posted by Tom

I used those keywords in the graph to show the best data available for risk analyst jobs. A graph on CERA alone would include a lot of false positives, while a graph on Chartered Enterprise Risk Analyst would be flat due to the 3 year old designation.

More and more industries are begining to search out risk analysts, however they aren't as savvy to the CERA designation, yet. I expect that to change in the years to come as the economy turns around, the SOA gets the word out, and companies start to search for the best credentialed individuals to manage risk.

See bolded part ^

[Talmage]

Originally Posted by studentnel

I've heard some pretty bad things about PRM... it's not bad to have, but not on the "priority" list.
Experience > CFA > FRM (depending on what you're applying for)

I have not heard this at all. First, CFA and FRM/PRM are different designations. FRM and PRM are risk specialties, whereas CFA is a financial designation, so you can't really compare them like that. The complement each other, unlike FRM and PRM which are competitors.

As far as FRM, PRM, and CERA, everything I've read has indicated PRM=FRM > CERA. If you have any evidence other than "I've heard some pretty bad things about PRM" I'd be interested in hearing it. The Wall Street Journal article featured on the SOA website a few months ago implied PRM and FRM are on par with each other (at least according to the CRO interviewed). The posts I've seen from the quants over at wilmott.com also seem to reinforce this. Risk specialists I've spoken to have also told me that PRM and FRM are equivalent. In fact, PRM was created after an internal FRM feud and is just as rigorous and well respected.

If you have any sources, please post them so I can check them out.