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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

HEMIS training ‘shares insights across institutions’, says Prof Petersen
2017-08-22

 Description: HEMIS training ‘shares insights across institutions’ Tags: HEMIS training ‘shares insights across institutions’

UFS Rector and Vice-Chancellor Prof Francis Petersen
presents the welcoming address at the 2017 HEMIS Institute
in Bloemfontein.
Photo: Eugene Seegers

Higher education institutions such as universities need information and accurate data to make critically important management decisions. Prof Francis Petersen, Rector and Vice-Chancellor of the University of the Free State (UFS), expressed these sentiments during his introduction at the 2017 HEMIS Institute recently held in Bloemfontein.

Reporting a critical part of HE practice
The Department of Higher Education and Training (DHET) uses its Higher Education Management Information System (HEMIS) to manage and verify performance data from Higher Education Institutions (HEIs) regarding four crucial datasets, namely students, staff, space, and postdoctoral information and research fellows. HEMIS data is collected for quality control, funding, and planning purposes, in particular for steering the system and for monitoring the sector. This data must then be audited, since it is used for subsidy allocations to HEIs.

“Institutional reporting on aspects of what we do as public universities is a critical part of practice in Higher Education,” said Prof Petersen. He added, “Whether about insourcing statistics, … student accommodation, or transformation and indicators within that domain, it’s really all about accurate data with which informed, evidence-based decisions can be made. This HEMIS Institute 2017 ultimately enables us to share insights across institutions, which can grow and strengthen the sector as a whole.”

‘It’s about accurate data with
which informed decisions can
be made’—Prof Francis Petersen

Public and private HEIs attend training alongside government reps
The Institutional Information Systems Unit of the Directorate for Institutional Research and Academic Planning (DIRAP) hosted and presented the Southern African Association for Institutional Research (SAAIR) HEMIS Foundations workshop and the annual HEMIS Institute in Bloemfontein. These training opportunities were attended by university data managers and representatives from 26 public and private HEIs, as well as representatives from the Council on Higher Education (CHE), DHET, and the Namibian National Council for Higher Education (NCHE). The Foundations workshop was designed to assist those new to the platform to be better acquainted with this data management tool, while the two-day Institute was structured to answer complex questions and address issues around the use of the relevant reporting structures and software.

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