The Society of Actuaries in Ireland, in conjunction with the CERA Global Association, is pleased to offer members the opportunity to achieve the internationally-recognised Chartered Enterprise Risk Actuary (CERA) credential.
The CERA credential equips risk management professionals to make better business decisions and achieve more profitable outcomes in the fields of finance and insurance and well beyond. Professional, ethical and trusted, a CERA is able to communicate ideas effectively and is qualified to play varying roles within an organisation, from risk manager to Chief Risk Officer and more.
How to become a CERA
You may use the CERA designation only if it is awarded to you by an actuarial association that is an Award Signatory member of the CERA Global Association (CGA) and you remain a member of that Award Signatory or you transfer supervision of your use of the designation to another Award Signatory. The Society of Actuaries in Ireland (SAI) is an Award Signatory.
We recognise the Institute and Faculty of Actuaries (IFoA) as an accredited education provider for the CERA credential. For members who also hold membership of the IFoA, we offer a route to CERA that mirrors the IFoA's CERA qualification requirements.
If you are a member of the SAI and the IFoA, you can obtain the CERA credential if you:
- become an Associate of the SAI, including having passed or gained an exemption from the IFoA exams CP2 (Modelling Practice) and CP3 (Communications Practice); or
- become a Fellow of the SAI, having completed the full suite of IFoA exams and other Fellowship requirements.
You will also need to:
- pass, or gain an exemption from, the IFoA exam SP9 (Enterprise Risk Management); and afterwards
- attend a CERA seminar, delivered by the IFoA. The seminar will enable you to investigate and discuss practical applications of enterprise risk management.
You must be a member of the IFoA to take the SP9 exam and attend the CERA seminar.
After you have met these requirements, and once we have started accepting applications for award of the CERA credential (which we will notify to members), please complete the application form below and follow the instructions on the form for submitting it to the SAI. If your application is in order, we will contact you to confirm that you have, and can use, the CERA credential.
Alternative route: If you are not a member of the IFoA, you can still become a CERA if you (a) become an Associate or Fellow of the SAI and (b) complete a series of seminars delivered in English by the European Actuarial Academy, covering CERA Modules A-D, and (c) pass related exams run in English by the German Association of Actuaries (DAV). Usually, the seminar for Module A (Quantitative Methods of ERM) is held in spring, those for Modules B (Taxonomy, Modelling & Mitigation of Risks) and C (Processes in ERM) follow in autumn and Module D (ERM – Economic Capital) is completed in the next spring. The next Module A seminar will be held online on 24 – 26 February 2021 (there will also be a mandatory software test session at 10:00 – 10:30 GMT on 17 February 2021) and the associated exam will be held as an e-exam on 28 May 2021 (registration for the exam closes 4 weeks earlier). For further information on the EAA seminars and DAV exams, including costs and registration requirements, please see here.
If you are already a CERA and you wish to transfer supervision of your use of the designation from another actuarial association to the SAI, please complete the application form below and follow the instructions on the form for submitting it. If your application is in order, we will contact you to confirm that it has been accepted.
If you have any questions about the CERA credential, please contact us at email@example.com.
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Please note that we are currently accepting applications only for transfers and not for initial award of the CERA credential.