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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

Pursuit of excellence a strong focus for incoming UFS Vice-Chancellor
2017-02-06

Description: Official opening 2017 Tags: Official opening 2017

Prof Francis Petersen, the incoming
Vice-Chancellor and Rector of the UFS,
shared his future plans for the university
with staff during the official opening.
Photo: Johan Roux

Video clip
Photo gallery

The newly elected Chairperson of the UFS Council, Mr Willem Louw, and Prof Francis Petersen, the incoming Vice-Chancellor and Rector of the UFS, were welcomed at this year’s official opening of the academic year which took place at the Bloemfontein Campus of the University of the Free State (UFS) on 3 February 2017.  

Prof Petersen, who will start his tenure at the UFS on 1 April 2017, was introduced to staff by the Acting Rector, Prof Nicky Morgan. Prof Petersen shared his future plans for the UFS with staff.

His vision for the UFS spells excellence. Among others, he seeks to establish an academic culture of excellence, underpinned by the pillars of diversity and inclusivity. “It is important that there should be respect for different convictions,” he said.

“The UFS should be a place where everyone feels welcome; a strong sense of belonging is needed. Staff and students should feel that they would like to make a contribution to make the UFS a strong university,” he said.

In order to address the institutional climate issue, Prof Petersen suggests that attention be given to the curriculum as well as transformation of the research culture. Research outputs should be expanded and diversified. Inclusivity from a community engagement perspective is also needed. “The things we are good at and in which we excel should be the anchors impacting our academic enterprise,” he said.

In terms of the physical environment, he said that spaces should be welcoming for students. “It is important that we sit with students to get their views and listen to their concerns,” Prof Petersen said.

To promote transformation at the university, the UFS management team is busy working on an integrated transformation plan to be submitted to Council in June 2017. As part of this process, consultations will be held with staff and students in order to incorporate their perspectives and convictions in the plan as well.

“It is important that there should be
respect for different convictions.”

Furthermore, it is important for Prof Petersen that the Qwaqwa and South Campuses should be more integrated with the Bloemfontein Campus. “The UFS is one university with three locations. The fact that it is one university should be reflected in our actions, attentions, and thoughts. Although there are geographical differences, all three campuses should receive the same resources and should deliver the same quality outputs,” he said.

Prof Petersen ended his speech by returning to the importance of academic excellence. “With the Academic Project we always strive for excellence. To achieve academic excellence, the focus is on both academic and support staff. In order to reach our goal, all staff should produce work of superior quality,” he said.

“I am a good listener who is outcome driven, with a vision that includes: diversity, inclusivity, academic excellence, and innovation”, Prof Petersen concluded.  

 

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