Credit Management June 2018

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’ It’s been almost a year now at Anixter and studying for my L3 CICM Credit Management Diploma, I am still very committed to succeeding in a career in credit. A Graduate’s pathway to Credit Risk Analysis Dan talks about his career since graduating at Sheffield Hallam University and a typical day in his current role at Anixter. The Recognised Standard / www.cicm.com / June 2018 / PAGE 46
EDUCATION DAN is part of a twoman team that make up New Accounts UK and New Accounts EMEA at Anixter. Anixter is a leading global distributor of network and security solutions, electrical and electronic solutions and utility power solutions. It helps to build, connect, protect and power valuable assets and critical infrastructures. WHAT IS YOUR BACKGROUND? Originally from Nottingham, I chose to move to Sheffield and seek a degree level education at university. I graduated from Sheffield Hallam University with a BA Honors degree in Business Economics in 2015. Like most people at university, I was unsure which career path to take after I had finished my studies. With the economics degree, I realised from very early on that this would be a vital tool to opening many doors within the business world. After a few months of working for the Royal Mail in a steady accounts receivable job, I started to slowly realise that life was a bit too short to jump straight into a career as I wanted to see the world (a cliché I know). This led me to travel to Australia for the next two years, while most of my friends were working in bars or other jobs as a stop gap. I realised that time was a valuable asset and wanted to enjoy travelling but also have meaning towards my future possible career. HOW DID YOU GET INTO CREDIT RISK MANAGEMENT? After completing the standard farm work picking watermelons (which was needed to apply for a second-year visa), I then moved to Sydney where I was lucky enough to get a job interview for Hays Recruitment, based in the central business district. Credit control was a career path I had not previously considered. After a few months of working as a credit controller, I enjoyed the prospect of working my ledger and building up relationships with customers. Unfortunately, you can only stay working for a company in Australia for six months at a time on a working visa. The time had come to move on and travel Indonesia. After returning to the UK in 2017 it was time to start thinking about a career that would take me to the top. With a background working in a credit department already, I wanted to know what other roles would suit me. After reading about the position credit risk analyst, I started to realise this was the right path for me. With my economics degree I was used to looking at data and recognising trends in the economy and looking at influencing factors. This led me to apply for a role at Anixter. Bryony was very kind to offer me a role but also had her preconceptions that I may fly off and travel again. It’s been almost a year now at Anixter and studying for my L3 CICM Credit Management Diploma, I am still very committed to succeeding in a career in credit. WHAT DO YOU ENJOY ABOUT YOUR ROLE? Variation is the main factor that makes my job enjoyable – ‘no day is the same’. Although I liked working as a credit controller, the credit risk side involves more data analysis and a greater sense of achievement. Having more power to make decisions has made me feel more a more valued member of the team. The day-today fundamental jobs that I undertake help maintain the continual monitoring of a customer’s risk and credit worthiness. Looking at the detail within financials and recognising common trends has helped to develop my perception and diligence to identify key risk areas that can lead to the prevention of possible bad debt. The relationship you build with not just customers, but also sales within the company is another aspect of the role that makes it like no other. HAS IT MET EXPECTATIONS? It has more than met my expectations. I know that there is more advanced learning to be completed in the future, not just understanding credit but the methods used to manipulate data and coming up with new ideas to help take the company towards its corporate goals. Efficiency and time saving is a must within the credit team as colleagues’ ledgers grow, the risk team look at ways to help minimise troublesome customers and create macros to automate day-to-day tasks. WHAT ARE YOUR PLANS FOR THE FUTURE? I am currently near the end of L3 CICM qualification. The future looks bright, I know where I want to be and I know what needs to be done to achieve this. Although this is the start of my ‘adult career’, I still have a passion to travel and see the world. This can hopefully be achieved by becoming more educated and experienced, which in-turn would allow me to travel to countless destinations. My manager Bryony stands out as a role model within this field. She currently covers the Nordics, Europe and the Middle East. Although it’s very tiring for her to be travelling from place to place, it’s something I strive towards. The sense of achievement from a managerial perspective would be the next goal within my career in credit. A typical day Morning reporting • Running AMEX payments, creating remittance for previous days Worldpays • Receive a monitoring list from our credit platform, CoCredo, which identifies key changes such as financials, directors leaving, a change in risk scores, change in limits). I check accounts via these updates and look at overdue, payment patterns – any factors that may give us reason to decrease limits or put credit on hold/stop orders • Run the cash trackers daily (involves inserting previous days cash into an excel macro). This helps keep track of what has come in against expected. Also gives a running monthly target Emails • Limit increase request for order releases • Change of profile request for customers • Credit checks on potential customers (projects expected and orders) • Extended terms requests Annual Reviews • Checking customers per year – looking to see if the limit is still needed, trade levels, payment performance, financial trends • Making a decision to see if we need to increase or decrease the limit, thus decreasing credit exposure New customer accounts • Setting up new customers, VAT check, export checks, financial checks, making sure a customer is legitimate and giving them a proposed limit Edelivery Maintaining email version database – setting customers up on email invoice delivery as per request. The Recognised Standard / www.cicm.com / June 2018 / PAGE 49
Page 1 and 2: CREDIT MANAGEMENT CM JUNE 2018 £12
Page 3 and 4: JUNE 2018 www.cicm.com 32 COUNTRY F
Page 5 and 6: POWERED UKCCC 2018 CROWNE PLAZA STR
Page 7 and 8: Transfer ensures continuity of UK
Page 9 and 10: NEWS IN BRIEF Government urged to r
Page 11 and 12: FCA alerts public to rising number
Page 13 and 14: INTERVIEW CLASS ACT Sean Feast spea
Page 15 and 16: INTERVIEW AUTHOR - SEAN FEAST attra
Page 17 and 18: OPINION Marc Colman from RC Service
Page 19 and 20: The Recognised Standard / www.cicm.
Page 21 and 22: EXCLUSIVE REPORT delinquency perspe
Page 23 and 24: EXCLUSIVE REPORT AUTHOR - Nalanda M
Page 25 and 26: VIEW FROM THE SEAFRONT AUTHOR - Dav
Page 27 and 28: THERE are worse places to go in the
Page 29 and 30: Market leaders in Credit Control re
Page 31 and 32: CUSTOMS UNION… 'A' OR 'THE'? AN i
Page 33 and 34: COUNTRY FOCUS DATA from the UK Gove
Page 35 and 36: CICM Southern Branches Inaugural Cr
Page 37 and 38: TECHNICAL COMMITTEE AUTHOR - Alex S
Page 39 and 40: n 1.5 q East Midlands 0.8 q London
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Page 45: CICM VIRTUAL SUMMER SCHOOL IS BACK
Page 49 and 50: Track your continuing professional
Page 51 and 52: CAREER’S ADVICE Making a good imp
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Page 55 and 56: Proud supporters of CICMQ With over
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Page 65 and 66: Cr£ditWho? CICM Directory of Servi
Page 67 and 68: FROM THE ARCHIVE Credit Management

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