Credit Management September 2023

We need to ensure that CICM is guiding young
people into the profession, preparing them to excel
in their credit careers. We need to ensure that our
education is very much fit for purpose and at the
cutting edge. – Stephen Allinson FCICM
onto the Board who understood the
education sector. We now try and bring
in new people every three years or so,
to ensure that we’re exposed to a wide
range of perspectives.”
And with more and more young
people looking for opportunities outside
of university, Stephen believes that
the Board should be more involved in
marketing CICM’s offerings, encouraging
students and businesses to invest in their
professional development:
“We want to highlight the benefits for
both students and organisations to have
qualifications to their name. Companies
that become CICMQ qualified, for
example, can market their business by
being a part of that programme. And
with more qualified credit professionals,
the standards within the credit industry
will be greatly improved.”
Education evolution
Stephen is also a visiting lecturer at
the University of Law and Chairman of
another exam board. Since he began
his role as an educator, he has observed
how education has evolved over the
years, providing young people with more
opportunities while also creating more
challenges:
“I’ve always been quite passionate
about education. And I think what
younger people have to go through
now in any educational environment is
much more stringent. I see education
now as fitting you for the role you’re
going to undertake in your workplace.
The training is much more practical
and outcome-based rather than just rote
learning, which is fantastic in my view.”
Although exams are becoming more
stringent, Stephen believes that it is
positively impacting the industry by
raising the standards of professionalism.
“There is clear pride in passing our
assessments,” he says. “I think there’s
much more focus now on seeing the
credit management industry as having a
proper pathway to progress.”
The Board’s mission is to reach as
wide an audience as possible, educating
the public on what credit managers do.
And while there is a strict Chinese wall
between the assessment Board and the
rest of the Institute, the Board is doing
its part to provide the opportunities and
professionalism within the industry to
young people:
“I believe that the Assessment Board
needs to play a more central role in
CICM. Although assessors can’t interact
with students, we do encourage tutors
to go to open days at sixth form colleges
and universities. I’m passionate about
giving back to the younger generation
and I want CICM to show young people
that they can have a great career in credit
management.”
A diverse industry
Another of the Board’s objectives is to
ensure that CICM is promoting diversity
within the industry. The Institute has
already made great progress in recent
years, attracting more women, ethnic
minorities, and younger people into the
profession:
“I feel strongly about removing
the barriers of entry for people from
different backgrounds and I think we’re
moving in the right direction.”
Last year, there was a good overall
gender balance and a good number
of younger people willing to take
the exams. Stephen thinks this is a result
of the introduction of apprenticeships
and a change in attitude among
employers.
“Companies are increasingly prepared
to invest in their employees’ education,”
he says, “and there is a steady progression
up to Level 5; young people are being
given the choice to continue through
the whole panoply or stop after a certain
level.
“Credit management is a universal
profession, and although CICM delivers
training globally and has candidates
from over seventeen countries taking
CICM qualifications, the Board would
like to see more international Credit &
Collection professionals qualifying.”
And Steven wants further progress to
be made.
“So, one of our goals is to expand
further our education and qualifications
in other countries along similar lines
to the Institute’s partnership with The
School of Credit Management in Sweden.
The world is shrinking, and CICM has
a huge opportunity to offer tailored
training and development to different
cultures and countries, improving
standards internationally.”
A Global institute
The Board is facing its fair share of
challenges in achieving these ambitions:
“We are a relatively small organisation,
but we have the same regulatory
requirements that are required of much
larger, regulated-chartered institutes.
“And the way that companies are
operating is also changing and becoming
more global. Many large companies have
dedicated credit management functions,
but companies are also increasingly
outsourcing these roles and that is
also creating more opportunities and
challenges.”
Stephen believes that these changing
trends are a further reason why the
Board needs to be more proactive in
encouraging more budding credit
professionals to get CICM qualified:
“The end goal of the Assessment Board
and CICM as a whole is to develop and
encourage the next generation of credit
professionals. If that’s my legacy, I’ll be
very pleased.”
Brave | Curious | Resilient / www.cicm.com / September 2023 / PAGE 53