The Society of Actuaries (SOA) and the benefits administration services provider Milliman have announced the launch of the first certificate program for actuaries focused on measuring and managing climate risk. The program pairs the risk management acumen of actuaries with the interdisciplinary expertise necessary to manage the complexity of climate risk.
The program is designed for actuaries and others who work in life, health or general insurance, pensions, or finance and investments. Certification will require the completion of six out of 10 self-paced, online courses. Participants also have the option to take individual courses such as “Climate Risk Fundamentals” as standalone courses or as an introduction to the program. “Climate Risk Fundamentals” provides foundational scientific knowledge about climate risk as well as an overview of risk assessment, mitigation and adoption strategies.
“Climate risk assessment has become a critical business need and societal focus, and actuaries continue to provide research and insights to manage and measure climate risk,” said Greg Heidrich, CEO of SOA. “Through this collaboration with Milliman, this critical certificate program will provide learners with focused training to measure and manage the complex challenges of climate risk.”
The program will include an interdisciplinary curriculum and content led by Milliman experts and an SOA-led certification process. Subject-matter expertise will be actuarial, financial, clinical, technological and scientific. The program will include training, assessments, interactivities, and instructor-led virtual office hours.
“Climate risk is complex and interconnected,” said Ken Mungan, chairman of Milliman. “If the extreme weather events of the last few years have taught us anything, it’s that we need a diverse team and broad collaborations to make sure people are prepared and protected. This certification program will help ensure that those earning this certificate remain on the forefront of managing this ever-evolving risk.”
The program will open for enrollment early next year.