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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

2011 Leadership group meets for the first time
2011-08-01

 

Photo: Hannes Pieterse

The long application process, panel interviews and nail-biting wait finally came to an end the past week, when the cream of our first-year class of 2011 gathered in the Scaena Theatre on our Bloemfontein Campus, for their first group meeting as the selected Leadership for Change cohort.

These 150 students, from all our faculties, will over the following year be groomed to be leaders, not only at the university, but also in their respective fields and chosen careers.
The first group of students will depart for their respective universities in America and Europe on 22 September 2011, where they will spend two weeks. The second group of students will depart for universities in Japan in January 2012.

Although they have all passed a gruelling selection process, the real hard work is only starting now for these bright young students.

The programme will take place in four phases. During the preparation phase, which has now kicked off, students are prepared for the experience ahead, while being made aware of exactly what to expect from the programme.

In the study-abroad phase, students will be placed at 15 partner institutions in various countries, and will be divided into groups of six to twelve people. According to Prof. Aldo Stroebel, Director of International Academic Programmes, the groups will be diverse, in that there will be a mix of races, genders and study fields, which should guarantee dynamic interaction.

During the group’s first meeting this week, they were informed of the important goals of the Leadership for Change Programme, by Mr Rudi Buys, Dean of Student Affairs.

He imparted the gravity of their selection on the students by saying, “You may not get it yet, but I understand the reason we are all here. I understand that by looking at what you achieve after this programme, we can tell what the country could possibly achieve in the future. It is immensely moving to see the way you all carry yourselves, since I can see something special and unique in each of you.”
“You are all here, not because of which school you went to, or your race, or who your parents are, but because you all show potential to be something great.”

Prof. Stroebel reminded the group that despite the excitement that they all have about visiting universities in America, Europe and Asia, these visits should be seen as study trips.

“You may have three days to acquaint yourselves with the surroundings, but after that there will be very little sightseeing and a lot of hard work.”

They will participate in programmes designed by their respective host institutions, aimed at exposing them to different cultures, lifestyles and beliefs.

They will be accompanied by our staff, who Prof. Stroebel says will grow with the students, as they will be expected to guide the students through their tasks and assignments and interact with them on a daily basis.

Upon their return, there will be a debriefing phase, during which they will be expected to provide feedback on their experiences, as well as submit assignments which they will be assigned at their respective institutions.

The final phase is known as the impact phase, as this will see the students apply what they have learned in a positive manner and help drive the university to the future and to becoming a world-leading tertiary institution.

 

Media Release
1 August 2011
Issued by: Lacea Loader
Director: Strategic Communication
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: news@ufs.ac.za


 

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