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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

Top matriculants for Kovsies

2014-01-24

From left are: Saneliswe Khambule, Lungile Mkhungo, Jannie de Wet, Anje Venter, Siqiniseko Buthelezi and Abrille Beukes.
Photo: Hannes Pieterse

Hailing from top schools in KwaZulu-Natal (KZN), Naushad Mayat, Lungile Mkhungo and Siqiniseko Buthelezi share 20 distinctions between them. Leaving the province of the Zulu Kingdom for Bloemfontein, all three are at Kovsies to study as doctors.

Naushad obtained eight distinctions, an achievement that placed him in the top ten matriculants in KwaZulu-Natal. The former learner from Glenwood High School in Durban came fourth in the Umlazi District and tenth overall in the province. Enrolling for a degree in Medicine, he will join the list of outstanding health professionals Kovsies produce every year.

Lungile, who matriculated from Kingsway High School, attained seven distinctions and her average percentage was 90%. She received distinctions in English – 90%, IsiZulu – 94%, Mathematics – 83%, History – 92%, Physics – 89%, Life Sciences – 89% and Life Orientation – 93%. Lungile is not only clever, but also performed well in sports at her school, participating in netball, soccer and athletics. This future doctor is a proud resident of Wag-'n-Bietjie residence.

Siqiniseko made history at his school, Maritzburg College, becoming the first black Head Prefect at the 150-year-old school, the oldest boys' high school in KZN and one of the oldest schools in South Africa. A gifted learner excelling in sport, culture and academics, Siqiniseko obtained five distinctions (English, Afrikaans, Life Orientation, Accounting and Life Sciences). His sporting prowess has seen him captaining Maritzburg College's first rugby team, as well as the KZN Academy team.

The three are joined by fellow KwaZulu-Natal resident, Saneliswe Khambule, Namibian Abrille Beukes and Free Staters Anje Venter and Jannie de Wet.

Saneliswe, a former learner of Menzi High School in Umlazi, received five distinctions in her final-year exams. The Emily Hobhouse resident registered for a Forensic Science degree and plans on doing her doctoral studies in this exciting career field.

Abrille Beukes is another future doctor and is all the way from Windhoek in Namibia. Abrille obtained a ‘one’ in all her subjects, the highest possible mark in the Namibian school system. The Windhoek-born student received high levels in Mathematics, Accounting, Physical Science, Biology, Afrikaans and English. As second best student in her home country, she will register for a Medicine degree.

Anja, the Free State’s top achiever, received an average percentage of 93% in the matric final exams. The former Eunice student obtained nine distinctions, an achievement that placed her in the national top 100 matriculants. Anja enrolled for a BSc Actuarial Science degree and will be joined in class by former school friend, Jannie de Wet, who obtained a whopping ten distinctions. Jannie and Anja attended Universitas Primary School together, with Jannie finishing his school career at Jim Fouché High School, and just like Anja, he will also enrol for a BSc Actuarial Science degree.

Jannie obtained distinctions in Afrikaans, English, Mathematics, Mathematics (third paper), Life Orientation, Accounting, Physical Science, Life Science, Economics and Information Technology. Jannie is also the Volksblad and the University of the Free State’s 2013 Matriculant of the Year.

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