FECMA EUROPEAN UNION How does the CICM interact with its European peers? BY GLEN BULLIVANT FCICM THE Federation of European <strong>Credit</strong> <strong>Management</strong> Associations (FECMA) was established in 1986 on the initiative of the late Sir Roger Cork, President of the then Institute of <strong>Credit</strong> <strong>Management</strong>. On his frequent travels and contacts with colleagues in Europe, Sir Roger had encountered a good many credit professionals and their respective national credit management associations and he saw that there was a great opportunity for promoting best practice and credit professionalism across the European mainland. FECMA was the umbrella organisation to bring together the various national associations to share knowledge and experience and to increase awareness across the European business community. The idea was well received, and member associations are now from Austria (BvCM), Belgium (IvKM), Denmark (DK-R), France (AFDCC), Germany (BvCM), Greece (HARIMA), Hungary (HCMA), Italy (ACMI), Malta (MACM), Netherlands (VVCM), Poland (PICM), Spain (AGC), Sweden (S K), Switzerland (ACMAS), and United Kingdom (CICM). Although the membership structures within the national associations may vary, all share the same not-for-profit aims – the promotion of best practice and professionalism. FECMA is itself a not-for-profit body, governed by a Council made up of representatives from each of the national associations. In the beginning, those representatives were the President or Chair of each association, but for the benefit of continuity it was soon agreed that each association could appoint a representative who need not necessarily be an association President or Chair. This has allowed the development of a good working relationship between Council members as well as building up high levels of trust and confidence. Association meetings The FECMA Council meets twice a year, on other occasions when specific topics need more consultation and discussion. It tries to align the face-to-face meetings with national associations’ annual conferences. Of course, although such conferences are presented in the host language, it is often the case that presenters’ PowerPoints are in English and easy to follow. Good examples are statistics on economic activity, insolvency rates, and credit insurance. In <strong>2024</strong> the Council meetings will be held in April in Malta, coinciding with the MACM Annual Conference, and in October in Germany, alongside the BvCM Bundeskongress in Dortmund. FECMA also hosts webinars on a variety of topics, but the flagship events are the pan-European <strong>Credit</strong> Congresses which are held in English, regardless of the host country, because experience has shown that as the principal business language, English is widely understood in the credit community. Annual conferences and pan-European congresses are a huge networking opportunity. Most events include an evening dinner where hosts, sponsors, speakers and delegates mix. These gatherings often allow an exploration of the host city and local culture – indeed the hosts for FECMA Council meetings invariably build into the programme some social events, which are especially popular with partners or spouses. Last year was extremely busy for FECMA members and for the FECMA Council itself. The MACM Annual Conference in Valletta covered a range of topics including a review of Malta’s insolvency laws and the challenges facing Maltese businesses in recruiting staff for credit and collections. Last year’s pan-European <strong>Credit</strong> Congress, in Athens, was branded as ‘<strong>Credit</strong> <strong>Management</strong> in Challenging Times’. Topics included the credit insurance in a troubled environment, the resurgence of a mini banking crisis and credit risk modelling. Indeed, the latter topic prompted an invitation from Cyprus for a FECMA Council member to speak at a credit risk conference being held in Nicosia in November 2023 and generated interest in the Cypriot business and credit community to look at establishing their own association in the future with a view to joining FECMA. The HCMA Conference in Budapest in October included a fascinating, if disturbing presentation by a time-served-convicted fraudster on cybercrime – a poacher turned gamekeeper delivering a fascinating insight into our own vulnerabilities. The following FECMA Council meeting proved to be lively in so far as the main topic for discussion was the Revision to the EU Late Payment Directive. A ‘Regulation’, not a new Directive, likely to come into force in early 2025, and which imposes a mandatory 30- day credit period in all B2B transactions – no exceptions, and EU states will have to establish their own bodies to enforce. This seems to have taken everybody by surprise and it is unlikely that we have heard the last of it. FECMA does not govern or regulate – it simply provides a meaningful arena for like-minded credit professionals to share, grow and learn from each other. In today’s fragmented and strife torn world, at least one group of professionals can try to make things better for everyone. Brave | Curious | Resilient / www.cicm.com / <strong>January</strong> & <strong>February</strong> <strong>2024</strong> / PAGE 20
Thursday 1st <strong>February</strong> <strong>2024</strong> Royal Lancaster London GOOD LUCK TO OUR <strong>2024</strong> FINALISTS! A HUGE THANK YOU TO OUR <strong>2024</strong> JUDGES Look out for our next edition to see this years winners! ##BCA<strong>2024</strong> Make sure to follow us on our socials for on the night updates! Brave | Curious | Resilient / www.cicm.com / <strong>January</strong> & <strong>February</strong> <strong>2024</strong> / PAGE 21
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