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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

Two research chairs awarded to UFS women
2015-09-15


Prof Pumla Gobodo-Madikizela

Two professors at the University of the Free State (UFS) have just been chosen as recipients of research chairs by the National Research Foundation’s South African Research Chair Initiative.

The research chairs are a massive financial injection for research in each of the relevant disciplines – that of Profs Pumla Gobodo-Madikizela from the Centre for Trauma, Forgiveness, and Reconciliation Studies at the UFS, and Felicity Burt from the Department of Medical Microbiology in the Faculty of Health Sciences.

Profs Gobodo-Madikizela and Burt are two of 42 female researchers in the country receiving research chairs as an initiative to give due recognition to women in research.

Profs Hendrik Swart, from our Departement of Physics and Melany Walker, Director, Centre for Research on Higher Education and Development, each also holds research chairs by the NRF. A third research chair has also been granted to the UFS Department of Plant Sciences for the research in field crops.


Prof Felicity Burt

The work of Prof Burt’s research chair is to investigate medically significant vector-borne and zoonotic viruses currently circulating; to define associations between these viruses and specific disease manifestations that have previously not been described in our region, to increase awareness of these pathogens; to further our understanding of host immune responses, which should facilitate development of novel treatments or vaccines and drug discovery.

Prof Gobodo-Madikizela, who has received international recognition for her work on forgiveness studies, will use this research chair to investigate historical trauma within two African contexts – those of South Africa and Rwanda. She hopes to gain insight into the role that memory plays in the formation of the experience of trauma, and to bring about healing of the trauma.

Prof Corli Witthuhn, Vice-Rector: Research at the UFS, expressed her pride on the announcement.

“We are extremely proud of the national recognition these two outstanding women researchers received.  The UFS strives for research excellence, and the five current NRF research chairs, as well as two NRF A-graded researchers who are at the forefront of their disciplines globally, indicates our continued commitment to innovating, relevant, and high-impact research.  We are excited about the progress of the past two years to position the UFS as a national leader in research.”

 

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