Actuarial Society of South Africa

The ERM Committee is responsible for growing and supporting the role of actuaries in the field of ERM.

The committee identifies and manages areas of research to support the establishment of an actuarial framework for Enterprise Risk Management (ERM) and to develop actuarial methodologies for measuring and managing Financial Risks.

The objectives include:

Formulate views of the South African actuarial profession on matters of concern to the profession in this field to South African institutions.

Co-operate with other Actuarial Society Committees, particularly the Health, Pensions, Short Term Insurance, Long-Term Insurance and Investment Committees to:
- consider issues of joint concern
- ensure a co-ordinated approach in providing guidance to actuaries: and
- formulate an actuarial process to risk assessment

Promote and encourage the development of actuarial skills in financial risk within the actuarial profession in South Africa, including recommendations to the ASSA Education Committee.

Maintain contact with the appropriate Committee(s) of the International Actuarial Association and develop and maintain contact with AFIR (the Financial Risk Section of the International Actuarial Association);

Liaises with other professional bodies on enterprise and financial risk related issues. e.g. IRMSA, PRMIA and GARP; and

Provides input to regulators on enterprise and financial risk management issues. This includes the implementation and management of the Basel 2 Accord for banks and Solvency Assessment and Management (SAM) for insurers.

The Continuing Professional Development (CPD) seminar held in Sandton at the Michelangelo Hotel on the 12th of September 2018 consisted of meaningful and informative presentations and discussions around Big Data and Advanced Analytics. The speaker line-up included a wide range of organisations such as the MTN Rhino Project, Naked Insure, First National Bank, Data Prophet and Analytix Engine

Sponsored by:
Deloitte
Milliman

Chaired by:
Richardt Hechter - ASSA Banking Committee & Discovery
He originates, quantifies and drives new opportunities for the group across five continents. He started his career in the banking space and continues to serve on both the International Actuarial Association's Banking Working Group and the Actuarial Society of South Africa's Banking Committee. Richardt was one of the first 15 to pass the actuarial banking fellowship. Richardt thrives on challenging himself and is passionate about tech, finance and banking.

Keynote Speakers:
Mark Brits - Executive Director Centre of Excellence in Financial Services, SGM The Banking Association South Africa
I have been fascinated by finance ever since I started work. In pursuit of my addiction I have worked in the insurance sector, the central bank, local and international banks, studied at university and participated in numerous courses. I have written, lectured and read about my passion. At the Banking Association I am able to immerse myself with international standard setters, policy makers, regulators and industry experts. Still there is more to learn.

Jolande Duvenage - Chief Imagineer (CEO): nav» and Head: FNB Innovators Programme FNB South Africa
nav» is a smart new tool designed to help customers manage their lives in a simpler smarter way. Think of it as a Financial GPS that puts you as a customer in the driver seat.

Speakers:
Dr Conrad Beyers - Modelling Systemic Risk and Banking Crises

Rajiv Singh - Systems and Technology for Actuaries in Banks

Michael Tichareva (Moderator); Nico van Staden; Matthew Walker; Gerrit van Eck - The implementation of IFRS 9: Challenges and lessons

Sandile Mbili - Professionalism & Ethics

Kudzai Chigiji (Moderator); Johan Maree; Ross Harris; Solomon Sikhosana; Dunny Semwayo; Mandla Hillie - Banking the Continent: Experiences of Expanding Banking Services Across the African Continent

Alan Quinn - Creative Thinking for Banking Collaboration

Closing:
Richardt Hechter

Actuarial Society 2016 Convention
Cape Town International Convention Centre
Cape Town
23 – 24 November 2016

The Actuarial Society’s 2016 Convention built on the success of last year’s Convention, with feedback on the Convention being used to provide an even better experience.

We welcomed over 1500 Actuarial Society members to an event that was professionally enriching and challenging, with opportunity to both learn and contribute.

ASSA Short Term Insurance Seminar held at Emperors Palace, Johannesburg on Monday 5th September 2016