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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 cpd@cicm.com

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

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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 apprenticeship@cicm.com

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