The Society of Actuaries Introduces New Chartered Enterprise Risk Analyst Credential, Reflecting Most Rigorous Enterprise Risk Management Training Available

First New Credential Since the SOA's Inception Marks Evolution of Actuaries SCHAUMBURG, Ill., Aug. 1 /PRNewswire/ -- Today's business world, facingan expanding breadth of risk, requires a new breed of professional withwell- rounded, rigorous training to provide actionable solutions to complexfinancial challenges. To help businesses identify the best-qualified riskmanagers, risk analysts and chief risk officers, the Society of Actuaries(SOA) has introduced its first new professional credential in nearly 60years -- the Chartered Enterprise Risk Analyst (CERA). The CERA can beearned by professionals who complete a rigorous curriculum encompassing themost comprehensive demonstration of enterprise risk management (ERM)available. Edward L. Robbins, FSA, FCA, MAAA, president of the SOA, said the newCERA credential stems from the same rigorous process through whichactuaries earn their traditional credentials. "CERAs are trained to applyboth qualitative and quantitative insights to risk management," he said."As a result, these professionals are best equipped to convert risk intoopportunity. "Actuarial principles have traditionally helped the world understandrisk, and the CERA credential signifies an evolution of the actuarialprofession," Robbins continued. "Today, as new roles in enterprise riskmanagement continue to grow, actuaries are becoming leaders in thispractice, which takes a 360- degree view of an organization's riskprofile." CERAs are qualified for risk manager leadership positions in all typesof organizations, including insurance, benefits, broader financial servicesand the energy, manufacturing, transportation and healthcare industries. "College students considering business careers will find that earningthe CERA credential will open doors to exciting new opportunities wherethey can make significant contributions in a variety of organizations,"Robbins said. S. Michael McLaughlin, FSA, CERA, MAAA, FIA, has been instrumental indeveloping the CERA curriculum and has been joined by a team of actuarieswho are pioneers in ERM. "CERA training does not stop with mathematics andfinancial engineering," he notes. "Instead, CERAs are trained to modelfuture events by converting data into information that leads to strategicdecisions." To earn the new international credential, CERA candidates are requiredto successfully complete five examinations, as well as an educationalmodule and professionalism course, to help prepare for leadership in theidentification, measurement and management of risk within complex,risk-bearing enterprises. The curriculum includes the topics of: -- Probability -- Financial Mathematics -- Financial Economics -- Micro and Macro Economics -- Construction of Actuarial Models -- Advanced Finance and Enterprise Risk Management -- Financial Reporting and Operational Risk -- Professionalism The CERA marks the first new credential since the SOA's founding. Theoriginal Fellow of the Society of Actuaries (FSA) and Associate of theSociety of Actuaries (ASA) credentials were established in 1949. Completingthe CERA curriculum takes an estimated three to four years, and successfulcandidates will also become Associates of the Society of Actuaries. Morethan 60 professionals are advancing their skill sets as the first to earnthe CERA credential. For more information, visit http://www.CERAnalyst.org. "Businesses that rely on CERAs can make smarter, more confidentdecisions," Robbins said. "Because the definition of risk is evolving frommere mitigation to expansion of opportunity, CERAs don't merely speak towhat we can lose; they focus on what we can gain." About Actuaries Actuaries bring a complex future into focus by applying unique insightto risk and opportunity. Known for their comprehensive approach, actuariesenable smart, more confident decisions. About the Society of Actuaries The SOA is an educational, research and professional organizationdedicated to serving the public and its 18,000 members. The SOA's vision isfor actuaries to be recognized as the leading professionals in the modelingand management of financial risk and contingent events. The SOA's missionis to advance actuarial knowledge and to enhance the ability of actuariesto provide expert advice and relevant solutions for financial, business andsocietal problems involving uncertain future events. To learn more, visithttp://www.soa.org. Contact: Mike Nowak GolinHarris 312-729-4346 or mnowak@golinharris.com Kim McKeown Society of Actuaries 847-706-3528 or kmckeown@soa.org