From the UK Actuarial Profession's ERM Newsletter, March 2012:
"We are pleased to announce that the CERA Treaty Board has recently granted approval to the application from the UK Actuarial Profession to award the CERA qualification to Thought Leaders and Verifiable Experienced Practitioners.
Over the next few months, the identification and confirmation of Thought Leaders will begin. This will be done using a Selection Panel and will be by invitation only.
The key criteria for a Thought Leader are:
• An individual who is the holder of one of the most senior enterprise risk management roles in a substantial organisation, and/or
• An individual who is widely acknowledged to have made a significant contribution to ERM thinking and who also has a demonstrable track record in practical ERM application.
Other criteria, including length of experience, contribution to education/CPD and visibility, will also be applied to the Thought Leader nomination and selection process.
Once the Thought Leaders have been selected and have confirmed their acceptance of the award, their names will be published and at that point applications for the Verifiable Experienced Practitioner (VEP) route will be sought. It is intended that the VEP application period will be open for six months only. Applicants must be able to demonstrate at least three years of relevant experience in a senior and substantial ERM role, and evidence must be provided to demonstrate eligibility against a number of specified criteria. These criteria and the overall application process will be communicated in more detail closer to the start of the application period."