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23 September 2021 | Story Leonie Bolleurs | Photo Supplied
Frans Koning recently obtained a CERA accredited enterprise risk management (ERM) qualification from the Actuarial Society of South Africa.

“If you fail to plan, then you plan to fail.”

“During and after planning, ensure that you identify all risks, since it would be the risks that you did not identify that might sink you.” 

These are two of the beliefs of Frans Koning, Senior Lecturer and Head of the Department of Mathematical Statistics and Actuarial Science at the University of the Free State (UFS), whose outputs in life – whether as lecturer or risk manager – are about planning. 

Koning, a qualified actuary with an interest in corporate governance, has been investing in his growth and development for the past three years by enrolling and obtaining an enterprise risk management (ERM) qualification from the Actuarial Society of South Africa, which is a member of the CERA Global Association (CGA). Having a Chartered Enterprise Risk Actuary (CERA) credential means that he worked through a world-class curriculum that is recognised globally and transferable internationally. This qualification gives professionals greater exposure to the C-suite and leadership, while empowering them to become a more highly valued resource for a company. 

Pulling out all the stops

CGA describes itself as a body that provides accredited risk professionals with strong ERM knowledge to drive better business decisions in finance and insurance. It associates characteristics such as professionalism, ethics and trust, impeccable standards and integrity with students who have obtained the CERA credential. “These professionals can communicate ideas effectively with leadership and is qualified to play varying roles within an organisation, from risk manager to chief risk officer and more,” it states. 

He had to pull out all the stops to obtain this qualification. “This was about 400 hours of study; and absolutely worth it. Since it was very interesting, I did not consider it hard work,” says Koning, who believes in a positive outlook on life. “I have never seen a successful pessimist,” he says. 

This qualification enables him to add extra value in the classroom, teaching Risk Management. Discussing hard questions in class, linking it to practice, i.e., modelling COVID-19 and discussing its effect on life insurance, is what he loves about this profession. He misses student interaction in the classroom, saying that interaction and discussions are not the same with a Blackboard/Teams/Zoom meeting.

A multitude of opportunities 

Koning, who has been with the university since 2003, believes his motivation of students makes a difference in their lives. “Teaching students and seeing them grow into actuaries and chief executive officers of companies gives me great satisfaction,” he states.

He lectures Life Contingencies, which is about calculating life insurance premiums and reserves, as well as Asset and Liability Management, which teaches students about managing the liabilities arising from selling insurance and managing the assets backing these. 

Teaching students and seeing them grow into actuaries and chief executive officers of companies gives me great satisfaction. – Frans Koning

 

As an independent non-executive director (NED) at African Unity Life (Ltd), he also chairs the risk committee and serves as a member of the audit committee. Koning is of the opinion that this qualification will be useful in more board positions than NED. This is but one of his options. According to him, there are a multitude of opportunities in the private sector, as all entities manage risk.

“I also intend to do some research in the space of enterprise risk management, something which I enjoy,” he adds. 

News Archive

Researcher takes home gold at international Famelab competition
2017-06-26

Description: Famelab competition Tags: Famelab competition

UFS researcher nabbed a top international award for
her ground-breaking metallurgical research in the UK.
Photo: Supplied

Recently, University of the Free State (UFS) Centre for Environmental Management master’s student, Tshiamo Legoale, was announced the FameLab International champion at the Cheltenham Science Festival in the United Kingdom. She is probing methods to use wheat as a gold hyper-accumulator – or, as she puts it, “grow gold from wheat”. The young researcher made South Africa proud by winning both the audience’s and the judges’ vote.

Coming back home a hero
“Winning was a surprise to me, because all 31 contestants had wonderful research. They all had really good presentations. I’m very grateful for all the support that I received from home. Social media showed me a lot of love and support. When I felt unconfident, they gave me ‘likes’ and that boosted my confidence a bit,” said Legoale about her win.

As South Africa celebrates Youth Month in June, Tshiamo represents hope for thousands of young South Africans to overcome difficult circumstances and follow careers in science.

The human impact is crucial, because Legoale’s win is not only scientific. It is also social and political. As a young female scientist in South Africa, she represented one of three African countries making it to the finals of FameLab, which has grown to one of the largest science communication competitions internationally.

With this in mind, Legoale says it may, in the end, be necessary to balance the needs of communities with the desire to increase yield. “Are we looking to make a fortune or are we looking to put food on the table?” she asks. “These are all things we consider when we conduct such research.”

World-class research from Africa
In South Africa, an estimated 17.7 million tons of gold is wasted. “All this gold was mined out previously, but tiny amounts remain in the dumps,” Legoale explains.

Her research focuses on the uses of wheat as a gold hyper-accumulator, which essentially means wheat plants are used to harvest gold from mine dumps. Simply put, the wheat is planted in the dumps, where enzymes found in the roots react with the gold and the plant absorbs it. The gold is then absorbed by every part of the plant, except the seeds, which means the next harvest can be used for food if need be.

“South Africa's world-champion young scientist, Tshiamo, represents all that is good about this country – brilliant, bright, and set for a fine future. I'm so proud that British Council SA, together with our partners SAASTA and Jive Media Africa, can help her along the way. Huge congratulations to her from all of us – it is a big win for Africa on the world stage,” said Colm McGivern, British Council South Africa Country Director.

The research represents a win on multiple levels. First, there are the obvious potential socio-economic benefits: food production, job creation, and phytomining is more economical than other contemporary mining methods.

Then there is safety. It is a more environmentally friendly practice than methods like heap leaching, carbon-in-leach or carbon-in-pulp. It is also safer for miners themselves, who will not be exposed to dangerous chemicals like mercury, which has been responsible for a great deal of toxicity in mine dumps. And it is safer for those living in the surrounds.

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