Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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

UFS staff get salary adjustment of 13,35%
2008-11-13

 

At the signing of the salary agreement were, from the left: Prof. Johan Grobbelaar, Chairperson of UVPERSU, Prof. Teuns Verschoor, Acting Rector of the UFS, and Ms Senovia Welman, Chairperson of NEHAWU.
Photo: Anita Lombard

UFS staff get salary adjustment of 13,35%

The University of the Free State’s (UFS) management and trade unions have agreed on an improvement in the service benefits of staff of 16,55% for 2009. This includes a general salary adjustment of 13,35% (according to the estimated government subsidy that will be received in 2009).

“The negotiating parties agreed that adjustments could vary from a minimum of 13,00%, or more, depending on the government subsidy and the model forecasts. If the minimum of 13,00% is not affordable, the parties will re-negotiate,” said Prof. Teuns Verschoor, Acting Rector of the UFS.

“The negotiations were conducted in a positive spirit and the parties are in agreement that it is an exceptionally good adjustment – being higher than for example the increase in medical premiums,” said Prof. Verschoor.

The agreement was signed yesterday by representatives of the UFS management and the trade unions, UVPERSU and NEHAWU.

An additional once-off non-pensionable bonus of R3 390 will also be paid to staff later this year.

The bonus will be paid to all staff members who were in the employ of the UFS on UFS conditions of service on 10 November 2008 and who assumed duties before 1 October 2008. This includes all former Vista staff, regardless of whether they have already been aligned with UFS conditions of service.


The bonus is payable in recognition of the role played by staff during the year to promote the UFS as a university of excellence and as confirmation of the role and effectiveness of the remuneration model.

“It is important to note that this bonus can be paid due to the favourable financial outcome of 2008,” said Prof. Verschoor.

It is the intention to pass the maximum benefit possible on to staff without exceeding the limits of financial sustainability of the institution. For this reason, the negotiating parties reaffirmed their commitment to the Multiple-year Income-related Remuneration Improvement Model used as a framework for negotiations. The model and its applications are unique and has as a point of departure that the UFS must be and remain financially sustainable.

Additional funding (0,70%) was also negotiated. This will be allocated on 1 January 2009 to accelerate the phasing-in of medical benefits and, if possible, to finalise the phasing-in process. Agreement was reached that 2,50% will be allocated for growth in capacity building to ensure that provision is made for the growth of the UFS over the last few years, as well as the incorporation of Vista staff.

The agreement also applies to all staff members of the two above-mentioned campuses whose conditions of employment have already been aligned with those of the Main Campus.

The implementation date for the salary adjustment is 1 January 2009. The adjustment will be calculated on the total remuneration package.

In 2008, a total improvement of service benefits of 9,32% and a salary adjustment of 7,52% were paid to employees. Staff received a once-off non-pensionable bonus of R3 000 at the end of 2007.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za  
12 November 2007
 

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept