Ernest graduated with a degree in Actuarial Science from the University of Cape Town and started his career at a leading analytics firm where they used data to guide strategy and drive business performance for clients in a range of industries. In particular, Ernest did a lot of work on loyalty programmes for banks, insurers and retail companies.
Thereafter, Ernest worked in a bank to help grow an in-house data analytics team with the aim of providing a more scientific approach to strategic decision-making within the bank, specifically in pricing, product development and value propositions.
Given the increased number of actuaries working in banking in recent years, the Actuarial Society of South Africa (ASSA) established the Fellowship exam in Banking Applications to better prepare actuaries planning to pursue a career in banking. The first exam was written in October 2015 with zero candidates passing. Ernest was one of only four candidates to pass the following session in May 2016, attaining both his FASSA and the CERA professional status. (Fellow of the Actuaries Society of South Africa, and the Chartered Enterprise Risk Actuary).
Globally, there is a definite trend towards acknowledging, refining and enhancing the role played by actuaries in banking. In support of this, the IAA (www.actuaries.org) has set up a Banking Working Group devoted to identifying and discussing opportunities and practices for actuaries working in the banking industry.