New Enterprise Risk Management (ERM) Module Replaces Operational Risk Module

The SOA’s Operational Risk Module is being discontinued and will no longer be available for purchase after June 30, 2012. It will be replaced by the new ERM Module available beginning July 1, 2012. 

If you are currently registered for the Operational Risk Module, you have two options for completing it:

  1. If you are attempting to complete the requirements for the Chartered Enterprise Risk Analyst (CERA) credential prior to the July 1, 2012 transition to the new CERA requirement, you will need to complete the Operational Risk Module and submit the end-of-module exercise by May 21, 20121. This will ensure that grading can be completed prior to the new CERA Requirements transition on July 1, 2012. 
  2. If you are not attempting to complete the current CERA requirements prior to the July 1, 2012 transition, you may continue the Operational Risk Module under the previously agreed upon terms and conditions. Successful completion of the Operational Risk Module will give you conversion credit for the new ERM Module after the transition.

More on the SOA's CERA Pathway Changes & New ERM Options for FSA

Inquiries may be sent to



 1As stated in the Transition Rules and Timing for Changes to the SOA’s CERA and FSA Pathways published March 14, 2011, module credits are considered earned on the date the grade of "meets minimum requirements" is received.