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CERA Credential /
The global CERA syllabus sets out what all prospective CERAs must know.
Ever since the formation of the IFAA in 1995 and the reconstitution of the IAA as an association of associations in 1998, the key education focus has been to bring all member associations onto a common agreed education syllabus. The CERA credential is facilitated by the IAA.
The credential ensures a deep understanding of general risk drivers as well as the requirements for an effective risk management framework, whatever the industry. It also covers individual risk categories and how they interact. For complex financial institutions, it requires an understanding of how to measure, model and manage risks and how economic capital can be best applied, in line with the requirements of Solvency II and Basel III.
Each Member Association will have its own route to CERA. Some use the IFoA’s SP9 route, some the DAV/EAA route and some the SOA (USA) route. The Institut des Actuaires (France) has its own route.
Please approach your Member Association to find out more about the route it offers.
The CERA Global Association has completed a review of the CERA syllabus to ensure that it remains up-to-date and relevant to actuaries who wish to obtain the CERA designation.
The new syllabus came into force on 1 January 2024. Award Signatory member associations have an 18-month implementation period to align their assessments for the CERA credential with the new syllabus.
From the syllabus’ preamble:
The CERA syllabus has been developed to reflect the current ERM standards, tools, and techniques,
and the risk environment currently faced by organisations. However, ERM practice continuously
evolves in a rapidly changing world. Individuals with a CERA credential are expected to be able to
apply their knowledge of risk management to new and unfamiliar scenarios. For example, external
changes could lead to material unanticipated change in an organisation’s risk environment arising
from known and emerging risks. Individuals with a CERA credential must be able to interpret changes
in the risk environment to ensure they can appropriately support their organisation.
The 2024 syllabus comprises three sections:
To find out more, download a copy of the syllabus using the link below.
©2022 CERA Global Association
