The Society of Actuaries is participating in an effort to make the SOA’s Chartered Enterprise Risk Analyst designation a global risk management designation.

The SOA, Schaumburg, Ill., recently helped set the ball rolling by signing a multilateral treaty in Hyderabad, India, at the meeting of the International Actuarial Association, Ottawa, Ontario.

The SOA created the CERA program in 2007, and there are now 511 people with the designation working in industries such as insurance, health care and financial services, the SOA says.

The actuarial groups that have agreed to help the SOA spread the designation are based in Australia, Canada, Germany, France, Israel, Japan, Mexico, the Netherlands, Scotland, South Africa, Sweden and the United Kingdom as well as in the United States. Now that the CERA designation is a global credential, the other IAA member associations that signed the Hyderabad treaty also will award the designation, the SOA says.

To get the CERA designation, actuaries must meet enterprise risk management educational requirements and abide by a formal professional conduct code.