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‘Seeing students grow into actuaries gives me great satisfaction’

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

State-of-the-art physics equipment and investment in students result in academic success

2017-09-26

At the recent nanotechnology facility tour at the UFS,
were, from the left, Dr Mthuthuzeli Zamxaka, SAASTA;
Prof Hendrik Swart, Sarchi Chair in the Department of Physics;
and Xolani Makhoba, Department of Science and Technology.
Photo: Leonie Bolleurs

Nanoscience, which is revealing new properties of very small arrangements of atoms, called nanoparticles, is opening a new world of possibilities. The Department of Physics at the University of the Free State is undertaking fundamental research with potential commercial applications. Its equipment and expertise is giving solid state physics research the edge in South Africa.

The UFS team of researchers and students are passionate about studying planets and atoms, all under one roof. Recently, the department, in collaboration with the South African Agency for Science and Technology Advancement (SAASTA), hosted a nanotechnology facility tour to give the public, learners and the media the opportunity to familiarise themselves with the science of nanotechnology, its origins, potential applications and risks.

Successes of the department
According to Prof Hendrik Swart, Senior Professor in the Department of Physics, the increase in resources since 2008 is playing a big role in the success rate of its research outputs. The Sarchi Chair awarded to Prof Swart in 2012 (bringing with it funding for equipment and bursaries) also contributed to the successes in the department.

The UFS Directorate Research Development also availed funding that was used for bursaries. These bursaries made it possible for the department to appoint 10 post-doctoral fellows, not one of them originally from South Africa.

The investment in people and equipment resulted in researchers and students publishing some 80 articles in 2016. Their work was also cited more than 900 times by other researchers in that year.

Another highlight in terms of the department’s growth in the past 10 years is the new wing of the Physics Building. Physics at the UFS is the only place in sub-Saharan Africa where state-of-the art equipment is found under one roof.

Antonie Fourie, Junior Lecturer in the UFS Department of
Physics, explained to a group of delegates and
members of the media the workings of an electron beam
evaporation system.
Photo: Leonie Bolleurs

Application of research
The department is a unique research facility with equipment that includes the X-ray Photoelectron Spectrometer (for the study of atoms), the Scanning Auger Microscope, as well as the Ion Time-of-Flight Secondary Ion Mass Spectrometer (revealing the chemical bonds in a sample, and drawing maps of the positions of atoms).

One of the areas on which the department is focusing its research, is phosphors. Researchers are exploring light emitting diodes (LEDs) which use less energy, are brighter and provide a wider viewing field. They are also looking into LED displays (LCDs) which are used in flat screens – the phosphors create the different colours and backlighting.

The research on solar cells reveals that phosphors can increase their efficiency by increasing the range of light frequencies which can be converted into electricity. Glow-in-the-dark coatings absorb light in the day and emit it later so cells can charge at night. As glow-in-the-dark phosphors become cheaper and more effective, they can be used as a lighting substitute on the walls of houses, street numbers and stop signs.

Video production of the Department of Physics research and equipment

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