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Credit management

A constantly evolving profession

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In the last decade credit management has expanded as a profession, and particularly in the last few years as a result of the financial crisis. What was once considered a function has steadily evolved as businesses have come to recognise the importance of effective cashflow management.

As the industry has matured, so too has its professional body, the Chartered Institute of Credit Management (CICM). By joining Hays, clients and candidates have access to a free 3 month CICM trial membership and this article outlines the learning and development initiatives the membership encompasses.

Why join the CICM?
12 reasons to become a member of the Chartered Institute of Credit Management

1. You’re passionate about this exciting, unique profession – and so are we

The Institute of Credit Management is the recognised professional body for the credit community in the UK, the largest in Europe, and second largest in the world.

2. Getting qualified – the recognised standard in the industry

Qualifications that really count – increasingly, CICM qualifications are a mandatory requirement for employers. The CICM is proud to be OFQUAL regulated.

3. Career progression

Wherever you set your sights, being a member of the CICM will show your employer that you are serious about your career, your performance and your personal development.

4. Keeping up-to-date

Regular CICM Branch events, Conferences and Masterclasses are held around the country featuring key speakers from the credit community.

5. Profile and influence

An organisation that genuinely sits at the table with government, collaborates with it and influences its thinking and direction.

6. The magazine

Credit Management Journal – the Institute’s highly acclaimed magazine packed with features, news and information is distributed free to all members. Our member survey confirmed CMJ as the most popular magazine for the credit community.

7. Networking

The CICM has the most extensive regional branch network in the credit industry. Local branches support members, hold networking events, briefings and arrange social gatherings.

8. The CICM British Credit Awards

The most prestigious credit and collections event in the calendar, the CICM British Credit Awards reward outstanding achievements and celebrate professionalism in the credit industry.

9. Reference

Access to essential, informative and useful reference material, industry white papers and the popular online CICMos fact-sheets.

10. The Quality Marque

CICMQ accreditation is awarded to organisations that deliver industry best practice and world-class credit management.

11. Social media interaction

Interact and share your views and challenges with CICM communities dynamically on LinkedIn, Facebook, Twitter and the CICM discussion forum.

12. Not-for-profit

The Institute of Credit Management is a not-for-profit organisation run entirely for the benefit of members and the credit community.

Free 3 month CICM membership

As exclusive corporate partners of the CICM, Hays Credit Management is delighted to offer our clients and candidates a free 3 month CICM trial membership.

By exclusively registering a role with Hays Credit Management, you will receive a free 3 month CICM Membership. If you choose to register a non-exclusive vacancy, you will receive your free 3 month membership once a Hays candidate has been successfully placed into your role.

But it doesn’t stop there. Regardless of whether you have registered an exclusive or non-exclusive vacancy with us, the successfully placed Hays candidate will also benefit from a free 3 month CICM membership.

This offer is available to credit professionals only, who are not already currently an CICM Member.

To find out more, contact your local Hays Credit Management consultant.

Learning and development with the CICM:

The CICM’s team of committed training professionals delivers a range of training, educational and learning initiatives to empower the credit profession to make a real difference – even at a day-to-day level – to individuals and the businesses in which they work.

A sample of the CICM’s training initiatives

  • The CICM’s respected seminar programme delivers more than 200 public seminars each year, from introductory 'Getting Started' seminars to in-depth workshops aimed at the most experienced credit professionals
  • The CICM’s newly launched CICM webinars are already showing itself to be a cost-effective way of learning the basics of credit control without leaving the office.
  • Another CICM technology is the well-established CICM Online Services (CICMOS), an interactive online team development tool used by blue chip organisations for their entire credit departments
  • To respond to the important need for training of specific groups, the CICM delivers initiatives such as SME workshops, currently being run at various locations throughout the UK. These offer short, focused, affordable solutions for managers and credit staff at SMEs, so they can benefit from learning some of the fundamentals of cashflow management
  • Similarly, the ongoing programme of CICM Masterclasses, available nationwide, comprises a series of breakfast events that provide opportunities to meet experts and share knowledge and experiences with fellow credit professionals

Training available across entire companies

  • CICM Learning Partnerships encourage the effective development of whole teams working in credit. By working closely with the CICM Education Department, they review and identify training needs to raise performance. These are proving to be a great success, with a number of prestigious companies from Barclaycard to Zurich having taken part.

  • Learning Partnerships are complemented by the Quality in Credit Management (CICMQ) accreditation, which recognises the importance of good credit management processes. The programme drives good practice by measuring the performance of a credit team across five key units: credit policy, compliance, customer service, personal and professional development and performance measurement. Organisations including Bupa and Shell have been among the first to be accredited.

The increasingly international nature of credit management is now very much in evidence: the CICM works with a growing number of overseas organisations from as far afield as Saudi Arabia, Cyprus, Philippines, Malta and Malaysia.

The Institute will continue to harness the very best in new techniques to deliver training solutions to its members and the wider business community in the UK and abroad.

To find out more, contact your contact your local Hays office or from the Chartered Institute of Credit Management.