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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

UFS the only university in South Africa with a P-rated history researcher
2016-12-13

Description: Dr Daniel Spence  Tags: Dr Daniel Spence  

Dr Daniel Spence has been earmarked by the NRF
to become a future international leader in his field
of expertise.
Photo: Supplied

The University of the Free State (UFS) is the only university in South Africa with a P-rated History researcher. Dr Daniel Spence, a postdoctoral Research Fellow at the International Studies Group (IGS), and a member of the Vice-Chancellor’s Prestige Scholar’s Programme at the UFS, was last week awarded a National Research Foundation P-rating by the National Research Foundation (NRF). Dr Spence is the first South African historian to achieve this honour.

Leader of the pack
P-ratings are given to young researchers, usually under the age of 35, who have the potential to become leaders in their field. Researchers in this group are recognised by all, or the overwhelming majority of, reviewers as having demonstrated the potential to become future international leaders.

The rating is awarded on the basis of exceptional research performance and output from their doctoral and early postdoctoral research careers.

Other researchers from the UFS who obtained P-ratings in the past, are Prof Lodewyk Kock (1986), Prof Zakkie Pretorius (1989), and Prof Robert Schall (1991).

Extraordinary achievement lauded  
“It is an extraordinary achievement. There are fewer P-ratings, than there are A-ratings,” said Prof Neil Roos, associate professor at the ISG. Prof Roos said the P-rating was seldom awarded to researchers within the field of Humanities.

As a member of the ISG, Dr Spence’s research has flourished under the guidance of Prof Ian Phimister. Much of the success of this group is due to the way it operates as an incubator for high-level research, with scholars collaborating with each other.

In addition to Dr Spence’s magnificent P-rating, the ISG currently has three C1-rated researchers (established researchers with a sustained recent record of productivity in their field) and two Y1-rated researchers (researchers 40 years old or younger, who are recognised by all reviewers as having the potential to establish themselves as future leaders in their fields).

“From the time Dr Spence wrote his doctoral thesis on the colonial history of the Royal Navy, he has expanded his field of expertise so that he can address imperial and global histories of race,” said Prof Roos.

Demonstrated research excellence

Dr Spence secured a postdoctoral Research Fellowship at the UFS to develop an African case study to augment his Asian and Caribbean research thesis into a monograph. In March 2013, Dr Spence won a three-year NRF Postdoctoral Innovation Scholarship, and learned Kiswahili ahead of archival research in Kenya and Tanzania from April to May of that year. He has conducted archival and oral research in Singapore, Malaysia, Hong Kong, Australia, Kenya, Zanzibar, the Cayman Islands, Trinidad, and the UK.

Internationally renowned
Dr Spence is the author of two monographies, the Colonial Naval culture and British imperialism, 1922-67 and A History of the Royal Navy: Empire and Imperialism. He has been invited to present papers and chair panels at over 20 international conferences, workshops and seminars.

The NRF rating system is a benchmarking system through which individuals who exemplify the highest standards of research, as well as those demonstrating strong potential as researchers, are identified by an extensive network of South African and international peer reviewers.

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