Latest News Archive

Please select Category, Year, and then Month to display items

‘Seeing students grow into actuaries gives me great satisfaction’

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

RAG resilience shines despite rain

2017-02-07

Winning float for 2017: Armentum, Vergeet-My-Nie,
and Emily
Photo: Lelanie de Wet

Although the 75th RAG festivities were challenged by ominous weather, in true Kovsie spirit students and organisers still made a gleaming success of the day.

Students help to create sunny feeling
On 6 February 2017, the annual float-building activities culminated in the handing over of schoolbags to 150 learners from schools in and around Bloemfontein. This took place at the Rag Farm on the Bloemfontein Campus of the University of the Free (UFS), since the morning procession to Twin City Mall in Heidedal had to be cancelled due to bad weather.

“It is of course a huge disappointment to all of us that the events had to be cancelled, but we are grateful for the rain,” said Karen Scheepers, Head of Kovsie Rag Community Service and Assistant Director: Student Affairs.

The evening KFC Rag procession took place as planned, with students having the option of taking part despite the weather. Unfortunately, the Chevrolet Music Festival had to be cancelled.

“The very important actors of today are our students who have worked long hours to build the floats and who have worked together to make this rainy day on the outside feel sunny inside,” said Prof Francis Petersen, incoming UFS Vice-Chancellor and Rector, when he addressed the crowd at the Rag Farm. Prof Petersen will take up office on 1 April 2017.

Armentum, Vergeet-My-Nie, and Emily take honours
Armentum, Vergeet-My-Nie, and Emily Hobhouse were the overall winners of the 2017 Rag float-building. “It was worth the hard work. Always remember to ask for advice during float-building,” said Pieter Kotze, RC Rag of Armentum residence on the Bloemfontein Campus. “I also want to thank both the RC Rag from Vergeet-My-Nie and Emily Hobhouse.”

The float theme was Proudly South African, and the winning float encapsulated it with local flavours such as Chappies, a Rooibos tea box and a Lion matchsticks box. They also went the extra mile by incorporating each hostel’s logo within a Chappie design.

The Central Rag Committee would like to thank all their sponsors who made the events possible. The Rag Coronation Ball will take place on 17 February 2017, where the new Rag Queen and Mr Rag will be crowned.

Back

Economic and Management Sciences

Education

Health Sciences

The Humanities

Law

Natural and Agricultural Sciences

Theology and Religion

Open Distance Learning

Business School

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