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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

Universities now public spaces to exercise citizenship
2016-08-30

Description: Prof Lis Lange critical conversation Tags: Prof Lis Lange critical conversation

Prof Lis Lange believes universities have a critical
role to play in advancing democracy.
Photo: Thabo Kessah

In an attempt to promote common understanding on governance, leadership, and management processes at the University of the Free State (UFS), the Institute for Reconciliation and Social Justice (IRSJ) recently hosted a critical conversation on the Qwaqwa Campus that was facilitated by Vice-Rector: Academic, Prof Lis Lange.

Prof Lange’s presentation firstly focused on the role that universities play, and the expectations thereof.

“From ancient history, universities have always had a critical role to play in the broader society,” she said. “They have always been characterised by the circulation of knowledge and ideas at a global level. They have always ensured that students’ skills and knowledge are properly certified.”

According to her, universities have changed quite a bit over the centuries.

“Historically, universities used to cater for the chosen few, but they now allow multitudes to have access as well. In the early 20th century, women and foreigners, for example, were excluded. How they relate to the society has also changed. They also used to create certain types of knowledge – at one stage this knowledge was influenced by the church. Research is now produced across a large spectrum of human and scientific knowledge,” she said.

Prof Lange also added that universities now even have a responsibility to advance democracy and to respond to societal needs.

“Despite the various tensions and contradictions between management and academic staff, between management and students, and between academic staff and students, universities are now public spaces to exercise citizenship. They provide space for all to have the right to speak and to be heard. They provide space for all to have similar rights and responsibilities,’ she said, while breaking down all the governance, leadership and management structures of the UFS.

The conversation was concluded with a question and answer session, with students mainly asking about internal UFS processes.

The session was well received by students.

“I really loved the conversation, which to me, was about breaking the walls between the management and students so as to achieve the goal of an effective university. We need more of these dialogues,” said Noxola Tshabalala, a BA Psychology student.

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