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  #11  
Old 08-20-2018, 10:26 AM
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That is correct. I am describing people that are not Actuaries. That was the intent of the CERA designation. It was intended to be a designation that would be recognized beyond actuarial confines. Will the designation get you an interview at Goldman Sachs?
Can you provide for the bold part?
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  #12  
Old 08-20-2018, 11:25 AM
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Can you provide for the bold part?
The intent described above was repeated over and over during the introduction of the CERA. I found this SOA ppt in the first 15 seconds of searching on google. I expect I could find 10 additional SOA sources.

http://www.actuaries.org/PRESIDENTS/...in/Robbins.pdf

Slide #2:

"Society of Actuaries (SOA) identified the need for a new credential to demonstrate enterprise risk management competence in the traditional and broader financial services marketplace"
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  #13  
Old 08-20-2018, 11:27 AM
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As someone who was on the SOA Board (for 9 years) during the development of the CERA designation, I can say with certainty that the goal was to qualify actuaries for risk-management positions outside of the usual insurance domain. I don't believe that the goal has been achieved, but I haven't really seen any data on that.

Bruce
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  #14  
Old 08-20-2018, 11:33 AM
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It would be a bit silly to expect CERA to have significance within the actuarial industry when requirements are nearly the same as ASA. The difference is one additional exam, which shares half of its syllabus with a required FSA exam.
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  #15  
Old 08-20-2018, 01:50 PM
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What kind of role within risk management is CERA supposed to fit in?
Certainly not risk quant...
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Old 08-20-2018, 02:22 PM
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What kind of role within risk management is CERA supposed to fit in?
Certainly not risk quant...
A risk quant would get a CQF if they wanted a designation. CERA covers nothing that traditional risk managers deal with which are primarily property and liability risks. As I posted earlier to be an Enterprise Risk Manager you need an understanding of the industry you operate in. That is why actuaries are good risk managers within in the insurance industry.

The greatest risk management decision in history was when PG pulled every container of Tylenol off the shelves after one incident of product tampering was discovered. An actuary faced with the situation would try to estimate a loss from not doing it relative to the cost of doing it. This was what was done in probably the worst risk management decision in history dealing with Ford Pintos exploding from rear end collisions.
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Old 08-20-2018, 02:25 PM
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A risk quant would get a CQF if they wanted a designation. CERA covers nothing that traditional risk managers deal with which are primarily property and liability risks. As I posted earlier to be an Enterprise Risk Manager you need an understanding of the industry you operate in. That is why actuaries are good risk managers within in the insurance industry.

The greatest risk management decision in history was when PG pulled every container of Tylenol off the shelves after one incident of product tampering was discovered. An actuary faced with the situation would try to estimate a loss from not doing it relative to the cost of doing it. This was what was done in probably the worst risk management decision in history dealing with Ford Pintos exploding from rear end collisions.
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Old 08-20-2018, 03:54 PM
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Originally Posted by Academic Actuary View Post
A risk quant would get a CQF if they wanted a designation. CERA covers nothing that traditional risk managers deal with which are primarily property and liability risks. As I posted earlier to be an Enterprise Risk Manager you need an understanding of the industry you operate in. That is why actuaries are good risk managers within in the insurance industry.

The greatest risk management decision in history was when PG pulled every container of Tylenol off the shelves after one incident of product tampering was discovered. An actuary faced with the situation would try to estimate a loss from not doing it relative to the cost of doing it. This was what was done in probably the worst risk management decision in history dealing with Ford Pintos exploding from rear end collisions.
I think the US is very behind the curve on risk management from an actuarial standpoint.

I raised this point before a few years ago in General as well.
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Old 08-20-2018, 03:55 PM
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I think the US is very behind the curve on risk management from an actuarial standpoint.

I raised this point before a few years ago in General as well.
How behind, and behind compared to what?
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Old 08-20-2018, 04:29 PM
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How behind, and behind compared to what?
Europe.
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