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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

Nigeria’s Boko Haram: Why negotiations are not an option
2014-10-23



There has been much speculation if the recently announced ceasefire in Nigeria as well as talks with Boko Haram will indeed secure the release of about 200 girls kidnapped by this religious militant group.

Talks already started between the government and Boko Haram but there are still doubts if the girls will be freed and if the Nigerian government can successfully negotiate with Boko Haram. Prof Hussein Solomon, Senior Professor at the University of the Free State, regards this current negotiations as a terrible idea.

“At a time when Boko Haram’s strength is escalating, the correlatory weakness of the Nigerian government is increasingly exposed. As Nigerians prepare for the next presidential elections, embattled President Goodluck Jonathan is increasingly desperate to negotiate with Boko Haram to secure the release of schoolgirls seized by the terrorists earlier this year and to negotiate a ceasefire. This is a terrible idea. It makes a mockery of the rule of law and of the thousands of innocent victims of the militant violence. More importantly, it will only serve to fuel the terrorists’ ambitions further as the powerlessness of the government is exposed.”

Prof Solomon says religious intolerance is on the rise on the African continent, with a concomitant rise in terrorist incidents. In Algeria, extremist terrorism carries the name of Jund al Khilafah or Caliphate Soldiers in Algeria. In Mali it is Ansar Dine or Defenders of the Faith. In Somalia it is Al Shabaab (The Youth). But none of these organisations come close to the carnage wrought by Nigeria’s Boko Haram (literally meaning Western education is forbidden).

Boko Haram has carried out more than 1 000 attacks since 2010, which has resulted in the deaths of 10 000 people and a further 6 million affected by this terrorist violence. The 300 000 Nigerian refugees who have fled this tsunami of terrorism and have sought refuge in neighbouring Cameroon, Chad and Niger, provide adequate testimony to the human costs of such terrorism. Boko Haram, meanwhile, has formed tactical alliances with Al Qaeda in the Islamic Maghreb, Al Shabaab and the Islamic State in Iraq and Syria (ISIS), which means that the groups are sharing intelligence, tactics and material support. This cooperation has also resulted in increasingly sophisticated terror attacks mounted by Boko Haram.

Read more about Prof Solomon and his research.


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