Credit Management November 2023

WORKING LIFE
Routes to success
There are many different routes candidates
may take to joining your credit team.
AUTHOR – Natascha Whitehead
WHILST achieving a
relevant degree has
long been thought
of as one of the
most effective ways
to secure a job, it is
certainly not the only route to success. In
recent times, alongside the ongoing skills
gap, there has been a noticeable shift in
some sectors towards hiring for skills
and potential, as opposed to having strict
qualification requirements.
Candidates coming into your
team could have a range of different
backgrounds when it comes to the route
they chose to kickstart their career in
credit management. After all, there is no
one-size-fits-all approach, and the right
attitude and ambition will take a person
far, no matter what direction they choose.
Here are four different, yet equally as
credible, backgrounds candidates joining
your team might have:
A degree or college qualification
One of the most traditional ways into
credit management is to attain a college
or university level qualification, such
as a foundation or bachelor’s degree
in business, finance or accounting.
Although these certifications are not
essential to enter the finance sector,
they help to illustrate a candidate’s
commitment to the subject matter and an
ability to achieve rewards when they put
their mind to it.
As well as a wealth of knowledge,
graduates are also likely to develop an
expansive range of skills, such as time
management and organisation, during
their experience in further education.
Both the technical and soft skills
acquired are transferable to the world
of work, which is one of the reasons a
degree arguably opens up greater career
opportunities.
A professional accreditation
A common and highly recommended
route into accountancy more broadly
is through a professional qualification
such as the Association of Accounting
Technicians (AAT), as well as chartered
qualifications like the Associate Chartered
Accountant (ACA) or Association of
Chartered Certified Accountants (ACCA).
The Chartered Institute of Credit
Management (CICM) have varying levels
to progress through, to ensure there is a
suitable path in place for individuals to
achieve the qualification that fits their
role and experience.
These qualifications also demonstrate a
person’s passion for the profession and are
suitable for individuals at any stage of their
career, whether that be a school leaver or
someone who wants to retrain or move
into credit management from an entirely
different industry. Candidates who take
part in professional accreditations gain
an up-to-date expertise in the field which
will undoubtedly support them within the
world of work.
An apprenticeship scheme
Candidates joining your team who have
taken part in an apprenticeship scheme
will have both hands-on experience and
theoretical knowledge under their belt.
Apprenticeships are also a great way to
gain practical training and earn money
in the process, and support participants
to develop an in-demand skillset that
will enhance their entire career. There
are a wide range of apprenticeship
opportunities out there, from credit
control to risk officer, which also allow
candidates to earn a qualification
alongside your apprenticeship.
Qualify on the job
Candidates might also immerse themselves
into the world of credit management by
qualifying on the job, through experience,
also referred to as Qualified By Experience
(QBE) accountants.
Kiera Howes, credit controller at Hays
studying for a CICM qualification, shares
why this method worked well for her: “I’m
glad I learnt on the job as I was able to put
into practice what I was learning, making
it a lot easier to understand concepts.
My concern when it came to learning
about credit management without having
to apply it, was that it might be too
theoretical and less engaging than a more
hands-on approach.”
Nicole Carroll, also a credit controller
at Hays studying for a CICM qualification,
explains why a route which involves
both learning on the job and studying
for a professional accreditation can the
way forward: “I didn’t have any previous
qualifications, but I started as a temp and
then I was offered a permanent position,
which is when I decided to study with
CICM. As I enjoy the role, I thought it
would be worthwhile to get a formal
qualification to accompany my practical
experience. Starting out as a trainee
and then studying has given me more
knowledge to help me carry out my role
and really improved my confidence.”
Having a workforce comprised of
candidates with varying backgrounds is
incredibly beneficial to any business, as
every avenue comes with its own skills,
experience and insights that a candidate
can contribute to their team and the
wider organisation. It's important to
acknowledge that there is no right or
wrong way to embark on a career in credit
management and regardless of a person’s
route, they can steer towards success and
get to where they want to be.
Natascha Whitehead is Business Director at
Hays specialising in Credit Management.
These qualifications also demonstrate a person’s passion for
the profession and are suitable for individuals at any stage of
their career, whether that be a school leaver or someone who
wants to retrain or move into credit management from an
entirely different industry.
Brave | Curious | Resilient / www.cicm.com / November / PAGE 55