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Corporate Partners
What training is available from CICM?
Debbie Tuckwood BA(Hons) PGCE FCIEA Doc Soc SciDirector of Learning & Development
What training does CICM offer?
HIGH QUALITYSPECIALISED CREDIT & COLLECTIONS TRAINING
In-company training
Open training daysOnline learning
Short & long
programmesUK delivery & overseas
Standalone
or linked to
qualifications
Dealing with sole traders –vulnerability
issues?NEW
TRAINING
Virtual
classes
Webinars
CPD
Regional
workshops
Basic skills
High level
Apprenticeships
Credit Management Lifecycle
© Chartered Institute of Credit Management 2016
Customer risk assessment & take-on
Credit terms & funding
Relationship-building & sales growth
Sales transaction processing
Invoicing & dispute resolution
Collecting payment and cash allocation
Debt recovery
Litigation
Insolvency
Credit Operations
Supervisor / Team Leader / Advanced Practitioner
Manager / Departmental Head / Senior PractitionerJob roles
Job roles
<<<<< C o m p l i a n c e >>>>>
Significant business areas require qualification
CICM qualification expectations
L5 Diploma
Senior practitioner
Manager
Departmental Head
Certificate
Credit operations
L3 Diploma
Advanced practitioner
Supervisor
Team leader
AFFILIATE
MEMBER MCICM, MCICM(Grad)
FELLOW FCICM, FCICM(Grad)
ASSOCIATE ACICM
Post nominal letters
Recommended TrainingEssential Credit Controller skills
Essential Skills Recommended for credit controllers/collectors, those working in operational roles or new to credit
CERTIFICATE in Credit Management
or
STANDARD PATH
TWO units
• Credit Management
• Business Environment
Regular classes & exams Accelerated route to Level 3 Diploma for non-apprentices
VOCATIONAL PATH
THREE units
• Cash Collections
• Credit Control
• Business Communications and Personal Skills
4 days training. 3 assignments.
Apprenticeship option includes regular class option and support over 12 months
Recommended TrainingAdvanced Credit Controller Skills Route one – Standard Path
Advanced
Recommended for advanced practitioners, supervisors and team leaders
Level 3 DIPLOMA in Credit Management ACICM
STANDARD PATH
FOUR units:
• Credit Management
• Business Environment
• Accounting Principles
• Business Law
OR . . .
Regular classes & exams Required to progress to L5 Diploma
Recommended TrainingAdvanced Credit Controller Skills Route two– Vocational Path
Advanced
‘CICM Vocational Certificate’ plus ONE of the following paths
Credit Risk path:
• Credit Management
• Accounting Principles
Legal path:
• Credit Management
• Business Law
Advanced Collections path:
• Credit Management
• Telephone Collections
• Negotiation and Influencing
Recommended for advanced practitioners, supervisors and team leaders
Optional Assessment: Level 3 DIPLOMA AICMLevel 3 DIPLOMA in Credit Management ACICM
Regular classes & exams Regular classes & exams One online exam & 2 assignments
Recommended Training -Credit Manager Skills
Management
Recommended for senior practitioners, managers and departmental heads
Level 5 DIPLOMA in Credit Management MCICM(Grad)
SIX Compulsory units:
• Strategic planning
• Advanced credit risk management
• Strategic communications and leadership
• Process improvement
• Compliance with legal, regulatory, social and ethical requirements
• Legal proceedings and insolvency
Regular virtual classes and 6 work based assignments
CPD Continuous Professional Development
CPD AWARDEvening or morning events = 3 CPD hoursFull day training or conference = 6 CPD hoursMinimum 24 hours CPD recommended per year
Send CPD record for certification annually to [email protected]
DateLearningactivity completed
CPD time(hrs)
What have you learnt?What are your post learning action plans?
Progress 1-2months later
17.4.16
Attended time management webinar
1.5How to manage time better by accepting limitations and prioritising better.
1) Prioritise better2) Eliminate time-wasting
activities. 3) Set goals. 4) Delegate if appropriate.
Improvedcollections rates
Premium Partner
Corporate Partners
Apprenticeships
- a game changer for Credit Control and Collections
Debbie Tuckwood BA(Hons) PGCE FCIEA Doc Soc Sci
CICM Director of Learning & Development
Apprenticeships – why?
Nurtures talent & develops careers in credit
Qualifies team in shorter time & for lower cost
More support to set/reinforce quality standards
Improves performance
Boosts status & morale
Pathway to CICMQ and Centre of Excellence status
May be better to sign up apprentices before May 2017
• Must involve substantial training
• Assessment must be independent and include at least two forms of assessment
• Must test achievement of Standard requirements at the END of apprenticeship
(after 12-18 months)
• Simple guidance - Apprenticeship Standard summarised on 2 pages
Trailblazer Apprenticeship Principles
TWO courses
• Credit Control or Consumer Collections
• Business Communications and Personal Skills
Company training and regular classes or 2 training days per course, plus guided learning with coach support over 12 – 18 months.
Option
Complete CICM assignment, e.g. cash collections or debt collection call handling
END ASSESSMENT
2 Assignments
• Credit Control/Collections
• Business Communications
& Personal Skills
+ Professional discussion
+
Coach for assignments & professional discussion support
What’s the Level 2 Apprenticeship look like?
Level 2 Apprenticeship in Credit Control/Collections
Win:Win
Level 2 apprentices gain:
• Level 2 Apprenticeship in Credit Control.
• CICM Awards in Credit Control and Business Communications and Personal Skills.
• CICM Certificate in Credit Management or Collections if pass one more
assignment e.g. Cash Collections or Collections Call Handling.
• CICM certificated CPD records.
• 12 – 18 months work experience.
• Funded Level 2 Maths and English courses (GCSE Grade A –C) – if required
• Good qualification progression routes potentially to degree level.
Employers gain:
• Funded training and qualification courses for new starters or current
employees (if no Level 3 qualification).
• Opportunity to recruit and train young people as credit controllers.
• More confident, flexible and skilled team – higher performance.
CICM Level 3 Diploma in Credit Management
Level 3 Advanced Credit Controller Apprenticeship
Standard pathway recommended
• Credit Management
• Business Environment
• Accounting Principles
• Business Law
Regular classes or 6 training days per course over 18 months - 2 years. 4 exams.
or optionally training & assignments to replace 3 exams
Credit from other qualifications recognised
or
• CICM Diploma in Debt Collection
• CSA Diploma for the Debt Collection Industry
• IFS Certificate in Consumer Debt Collections
plus
Business communications & personal skills training
SPECIALIST Options
• Credit Risk
• Advanced Collections
• Enforcement & Recovery
ONE Required
END ASSESSMENT
• ONE assignment to
showcase skills
• Professional discussion
+
Fast track for L2 Apprentices to CICM L3 Diplomas
2 exams or 3 assignments
Funding changes from May 2017
From May 2017 government funding depends will depend if your company is liable for the apprenticeship levy
Apprenticeship Levy
Will be deducted from all companies with >£3 million pay bill pa (funds ring-fenced for spending on apprenticeships) – use it or lose it!
Non-levy companies
Government will pay 90% towards cost of apprenticeship – company pays 10%
Small employers (<50 employees) can train 16 – 18 year olds at no cost
LOBBY EMPLOYERS NOW for credit controller/collector apprenticeships
May be better to sign up apprentices before May 2017
Apprenticeship Levy will drive investment
LARGE COMPANIES - Use it or lose it!
• From April 2017 the government will collect via PAYE 0.5% of employer’s
pay bill as an apprenticeship levy
• There is a £15,000 allowance to offset against this levy payment
• Therefore organisations with a pay bill greater than £3m will pay
Employer of 250 employees, each with a gross salary of £20,000: Pay bill: 250 x £20,000 = £5,000,000 Levy sum: 0.5% x £5,000,000 = £25,000 Allowance: £25,000 - £15,000 = £10,000 annual levy payment
Employer of 100 employees, each with a gross salary of £20,000 would pay: Pay bill: 100 x £20,000 = £2,000,000 Levy sum: 0.5% x £2,000,000 = £10,000 Allowance: £10,000 - £15,000 = £0 annual levy payment
LOBBY FOR credit controller/collector apprenticeships – CICM can help
Other Levy features
• Company will pay levy directly to HMRC via PAYE
• Levy payment will be allowable against Corporation Tax
• Government will apply a 10% top-up to your levy contribution
• You will be able to access funds through a new digital apprenticeship account
• Funds will expire 24 months after entering your account unless spent on
apprenticeships
• Potential for levy to be spent on ‘value chain’ – but not until 2018
See CICM website for link to full details
Summary & actions
• Make sure you understand the new delivery model
• Calculate your levy payment
• Start influencing - persuade roll out of credit controller/collector apprenticeships
to qualify teams and nurture new talent (CICM is happy to advise learning providers
on requirements & help deliver technical element)
• Consider all apprenticeship opportunities (new starters and current team) to
optimise value from levy payment – set timescales to qualify team.
• Run workshops to engage team and your business
• Appoint a project lead to deliver your strategy
• Work closely with CICM – see website/email [email protected]
Remember CICM and apprenticeship learning providers can support you
e.g. help recruit apprentices
Apprenticeships – promoting careers in credit
Push for apprenticeships in credit management & collections to develop the knowledge and skills we need
Credit Management Lifecycle
© Chartered Institute of Credit Management 2016
Customer risk assessment & take-on
Credit terms & funding
Relationship-building & sales growth
Sales transaction processing
Invoicing & dispute resolution
Collecting payment and cash allocation
Debt recovery
Litigation
Insolvency
Credit Operations
Supervisor / Team Leader / Advanced Practitioner
Manager / Departmental Head / Senior PractitionerJob roles
Job roles
<<<<< C o m p l i a n c e >>>>>
Significant business areas require qualification
CICM qualification expectations
L5 Diploma
Senior practitioner
Manager
Departmental Head
Certificate
Credit operations
L3 Diploma
Advanced practitioner
Supervisor
Team leader
AFFILIATE
MEMBER MCICM, MCICM(Grad)
FELLOW FCICM, FCICM(Grad)
ASSOCIATE ACICM
Post nominal letters
What training does CICM offer?
HIGH QUALITYSPECIALISED CREDIT & COLLECTIONS TRAINING
In-company training Open training daysOnline learning
Short & long
programmesUK delivery & overseas
Standalone
or linked to
qualifications
Dealing with sole traders –vulnerability
issues?NEW
TRAINING
Virtual
classes
Webinars
CPD
Regional
workshops
Basic skills
High level
Thank you
CICM Credit Community CICM_HQ CreditManagement
Premium Partner
Corporate Partners