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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

UFS plans to improve undergraduate pass rate

2005-01-13

The University of the Free State (UFS) will introduce a new foundation programme this year 2005 in an effort to improve the academic performance of undergraduate students.

According to Mr Francois Marais, Head: Centre for Higher Education Studies and Development (CHESD) at the UFS, the programme will assist students by providing for the development of cognitive and critical thinking skills by means of the integration of appropriate thinking skills (such as creative thinking, decision-making, problem solving, reasoning, and how to learn), into the subject content of university courses.

“The foundation programme will benefit students from disadvantaged school backgrounds and, in future, those whose performance in proficiency tests points to the need for additional development in, for example, language proficiency, mathematical literacy, computer skills and life skills,” says Mr Marais.

Based on their level of achievement in the final Grade 12 examination (Senior Certificate), students will be referred to the foundation programme.

In order to improve students writing and reading abilities for higher education studies, foundation programme students will be offered academic language courses in English and Afrikaans.

Kovsie Counselling will render appropriate services, eg career guidance and support to these students.

The new foundation programme will be implemented in the faculties of Natural and Agricultural Sciences, Economic and Management Science, the Humanities and Law.

The duration for this programme differs from faculty to faculty. In the Faculty of Law it will take five years, while in the faculties of the Humanities, Natural and Agricultural Sciences, and Economic and Management Sciences it will take four years.

The national Department of Education will fund the foundation programme for three years. Funding for such programmes was made available to all higher education institutions in South Africa.

The welcoming function for all new first-year students and their parents will take place on Saturday 15 January 2005 at 11:00 in the Callie Human Centre on the main campus in Bloemfontein.

The registration of first-time entering first-year students who applied before 30 November 2004 to study at the Bloemfontein campus will take place from Monday 17 January 2005 to 21 January 2005 at the Callie Human Centre.

Senior undergraduate students (that is, students entering their second or later year of study) may register from 22 to 29 January 2005.

Postgraduate students, first time entering first year students and other students who applied for admission to the main campus after 30 November 2004 must register at the Callie Human from 31 January 2005 to 4 February 2005.

Due to the limitations placed by government on student numbers, the applications of students who applied late will be regarded as pending and will be processed as places become available.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
13 January 2005

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