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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

An exceptional year at Kovsies — one of the most successful years in academic achievement
2014-12-04

 

The University of the Free State (UFS) had an exceptional year, with many staff members and students performing both nationally and internationally. Considerable progress has also been made in improving the academic standards of the university.

“So far, this has been one of the most successful years in academic achievement. The UFS now has the highest academic pass rate in years, partly as a result of the admission standards which were raised four years ago.

“We now also have the highest rate of research publications, one of the highest publication figures for scholarly books in history, three Mandela Rhodes scholars and several international communication awards”, says Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS.

“The university now attracts top professors from all over the country and other parts of the world and for the first time in many years, two researchers received A-ratings from the National Research Foundation (NRF). This is the first time in the history of the UFS that two A-ratings were awarded simultaneously. The most researchers ever were rated by the NRF this year. After the constant turmoil of a few years ago, Kovsies has now become one of the most stable campuses in South Africa,” Prof Jansen says.

The impartial findings of a recent survey of UFS stakeholders showed that our values are endorsed by 92%; 86% agrees with our vision; 81% agree with our goals; 77% agree with our transformation; 78% believe that we are inclusive; and 78% applauded our overall reputation index. “These figures are very different from a few years ago when the university experienced a crisis,” he says.
 
According to Prof Jansen, the UFS’s financial situation is one of the most stable of all universities in South Africa, with a strong balance sheet and growing financial reserves – way better than before. This is exactly the reason why the UFS received confirmation from the Independent Regulatory Board of Auditors (IRBA) this year that we complied with international standards of reporting for the financial year which ended on 31 December 2013.

“I am also pleased to report that the crisis in the delivery of health services in the Free State province has been resolved due to collaboration between the UFS Management (including the Dean: Health Sciences and Head of the School of Medicine), the Department of Health and the Premier, Mr Ace Magashule. Although the loss of skilled personnel is still a concern, the Dean and Head of the School of Medicine are recreating the Health Services Platform at Universitas Hospital. However, the academic training of no undergraduate medical student or any student in the Health Sciences was influenced by the crisis in the Universitas and Pelonomi Hospitals”, he says.

The UFS is regarded around the world as a model of transformation and reconciliation in the student body. The recent SRC elections are only the most visible example of how far we have come in terms of leadership diversity. “Not a week goes by in which other universities, nationally and abroad, do not come to Kovsies to consult with us on how they can learn from us and deepen their own transformations, especially among students”, Prof Jansen says.

“The UFS will continue its model of inclusive transformation which provides opportunities for study and for employment for all South Africans, including international students and colleagues. We remain committed to our parallel-medium instruction in which Afrikaans remains a language of instruction; we are in fact the only medical school in the country that offers education and training in Afrikaans and not only English. We provide bursaries and overseas study opportunities to all our students, irrespective of race. And our ‘future professors’ programme is richly diverse as we seek the academic stars of the future. But we remain steadfast in our goal of making the UFS a top world university in its academic ambitions and its human commitments,” Prof Jansen says.

 

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