Launch of the SAI CERA Experienced Practitioner Pathway (EPP)

06 12 2024 

The Society is pleased to announce the launch of the SAI CERA Experienced Practitioner Pathway (EPP). Under the EPP the Society has been approved by the CERA Global Association to award the Chartered Enterprise Risk Actuary (CERA) designation to a restricted number of our Fellow members who demonstrate a significant level of Enterprise Risk Management expertise and experience, without the need to sit the SP9 examination or attend the seminar. 

As required by the CERA Global Association this is a one-off application opportunity which will not be re-opened in the future. 

1. Minimum Eligibility Requirements 
   
   To be considered for this award applicants must fulfil the minimum criteria set out below. It should be noted that these are minimum criteria for consideration and there is the possibility that not all applicants meeting these criteria will be successful given the limited number of places available.
   
   The minimum requirements for consideration are:
   
   1. Applicants must be a current Fellow member of the Society of Actuaries in Ireland who is in good standing
    
   2. Applicants must be able to demonstrate at least 5 years of Enterprise Risk Management (“ERM”) experience. The relevant experience must be enterprise risk management based and strong experience in only one aspect of risk management (e.g. financial risk management) will not meet the eligibility criteria.
    
   3. At least 3 years of the ERM experience must be in a senior and substantial role i.e. performing work at a senior level such as Chief Risk Officer, Senior Risk Manager etc. Senior level experience would typically mean being closely involved in advice, decisions or judgements in relation to ERM activities.
    
   4. Applicants must be able to demonstrate coverage of at least two-thirds of the learning objectives comprising the CERA Syllabus
    
   5. Applicants must provide the names and contact details of two referees with whom their senior level experience and suitability could be discussed if necessary. 
   
    

2. Process
   
   2.1 Expressions of Interest
   
   Any member intending to apply is asked to submit an expression of interest by 31st December 2024. Please email CERAEPP@actuaries.ie indicating your intention to apply. Please include “Expression of Interest” in the subject line. Members are not required to provide any documentation at this point and this is solely to assist in administration planning.
   
   2.2 Application Process
   
   Applicants must complete and return the application form (downloadable below) by e-mail to CERAEPP@actuaries.ie by 28th February 2025. Please include “CERA EPP Application” in the subject line.

   The responsibility for providing sufficient evidence to support the application lies with the applicant. 
   
   · Applications must be received by 28th February 2025. Applications received after that date will not be considered except in exceptional circumstances that are notified to the Society in advance of the closing date for applications.

   · A non-refundable fee of €200 must be paid at the time of application to cover the costs of the administrative process. This fee will not be refunded to unsuccessful applicants.

   · A Selection Panel will review each application. Each member of the Panel is a Fellow member of the Society who have already obtained the CERA qualification. The Panel may speak to the referees provided as part of the application. The Society’s Head of Professional Affairs, Ramona Dolan, will oversee the process but will not be involved in decision-making.

   · Where the number of applications exceeds the number of awards available the Selection Panel will determine the successful applicants based on the extent to which each exceeds the minimum requirements. Applicants will be ranked in accordance with the following scoring:
   
         ·  Years of Senior Experience (Max 25 points)

         ·  Coverage of the CERA Global Association Syllabus (Max 65 points)

         ·  Contributions to the ERM field through papers, presentations etc (Max 10 points)

   · The Selection Panel aims to make a decision on all applications within 3 months of the closing date for applications but the exact timing will be dependent on the number of applications. The decision of the Selection Panel will be communicated by email to applicants shortly thereafter. There will be an appeal process, but the only grounds for appeal will be on the basis of a misunderstanding of the facts. 

We would encourage those members who would find this designation useful to consider applying. 

If you have any queries on the process please contact CERAEPP@actuaries.ie.