Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
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 implements paperless meeting system
2004-08-20

 

The Management Committee of the University of the Free State ’s (UFS) Executive Management recently entered the electronic environment of more effective and centralised meeting and decision-making administration by implementing ‘n computerised meeting system.

With this the UFS became the first higher education institution in the world to use the PARNASSUS-meeting management system. PARNASSUS , which refers to a mountain in the Greek mythology, is a licensed system from CIPAL in Belguim – a developer of software for a variety of applications.

“In stead of coming to a weekly management meeting with a file of documentation, each member now walks in with his/her laptop and the whole meeting procedure takes place electronically,” says Prof Sakkie Steyn, Registrar: General at the UFS.

At the same time the secretary registers the minutes point by point on the PARNASSUS programme. At the end of the meeting, after certain technical finishes are done, the minutes are distributed to members of the meeting and their secretaries/office managers. The draft minutes is also distributed to those who must implement decisions and prepare implementation steps. These staff members are given security clearance beforehand.

“The system is unique due to the fact that a translation engine has been built into the agenda and minute system. Agenda items can be submitted in Afrikaans and then automatically be translated in English by means of the interactive translation engine, or vice versa. The same principle applies to the minutes,” says Prof Steyn.

According to Prof Steyn the translation engine was develop with the expert assistance of the UFS’s Unit for Language Facilitation and Empowerment (ULFE). Word strings from previous minutes are now being added to the corpus of the translation engine.

“The system enables the secretary to continuously monitor which points are submitted for the agenda and if these points comply with the set standards namely clear recommendations, background and proposed implementation steps. The agenda is closed at a certain moment and no new points can then be added. The secretary does certain technical finished by means of a final classification of point and annexures. The draft agenda is then sent to the chairperson for approval, after which the agenda is electronically sent to members of the meeting and their secretaries/office managers for preparation,” says Prof Steyn.

“After the minutes have been approved at the next meeting, it is saved on the PARNASSUS decisions data base. The tracing of decisions made during previous meetings can be done by any person with the necessary security clearance. This is different from the past where stacks of documents had to be searched to find a decision,” says Prof Steyn.

According to Prof Steyn the secretariat and meeting administration services at the UFS has now entered a fully virtual and electronic environment. This will enhance effective decision making tremendously. “The PARNASSUS system saves us costs and time and the decentralisation of submissions to meetings lessens the work at centralised points,” says Prof Steyn.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept