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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

UFS on the right track with transformation - Fulbright scholars
2010-08-27

 
Pictured from the left, are: Dr Wilmore-Schaeffer, Rev. Dr Streets and Ms Leah Naidoo (Senior Administrator of the Institute).
Photo: Mangaliso Radebe

“I think the university is not only on the right track but can really become a model for how to negotiate certain difficult processes, such as transformation, within a short period of time. I think it can become a model, not just for other universities, but also for the world.”

This was said by Dr Rozetta Wilmore-Schaeffer, who together with Rev. Dr Frederick J. Streets, recently worked with the International Institute for Race, Reconciliation and Social Justice at the University of the Free State (UFS) as Fulbright specialists. They helped the institute come up with ideas in terms of making the changes that are necessary for the transformation of the university.

“There is a great deal that has already been done despite the sense of urgency and impatience, and I think there is a great deal more to be done,” said Dr Wilmore-Schaeffer.

“I think this sense of urgency comes from those who are involved in the process of looking at the destination, the place that they want to be at, and feeling that they are very far from it.”

During their visit here the two had numerous conversations with both staff members and students.

“I have been most impressed by the students who I think are ready to make changes in many different ways – I am talking about students of all racial groups and gender. The fact that they are referring to transformation as ‘their struggle’ shows that they are prepared to make changes,” said Dr Wilmore-Schaeffer.
She, however, cautioned that there were those who were still against transformation taking place at the university.

“I think there is still some resistance from some quarters on both sides of the fence and I would expect that at this point in time. I think what is really hopeful is that there are so many students who are ready to make the changes, who are making the changes, who are struggling with issues around making the changes; and I think that is really the hope for the university and the hope for the future,” she said.

“The resistance is complex,” added Rev. Dr Streets. “It is around a fear for the future, the loss of identity on the part of both black and white students, and the desire for cultural continuity amongst white students as well as amongst a variety of ethnic black students.

“The resistance is about learning that you are not the only kid on the block anymore and how you then overcome the feeling of realising that you are not the dominant person anymore and that your culture is not the dominant culture anymore.”

They have given a preliminary report of their findings to the Rector and Vice-Chancellor of the UFS, Prof. Jonathan Jansen, which will be followed by a more detailed report later on.
 

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