Credit Management?

Question

I have been a credit controller for 6 years now and want to move on. I was thinking of advancing my career by taking further qualifications in credit management etc.

Can any one advice me if it is worth taking those exams and are they worth taking in order to advance my career?

Apart from becoming a credit control manager, what other jobs could I apply for after passing the exams?

Many Thanks

Answer 1

If you want to study then I wouldn´t bother with the ICM cert as it will restrict you to Credit control jobs which have a salary ceiling and as any idiot can do credit control, the competition will be stiff for the top paying positions.

If you want to stay in Finance then look at CIMA or ACCA.

There is also a Certificate for Credit Risk Analysis, which is for the banking sectors, these positions do pay very well.

Answer 2

Sorry... but you don't have many options if stay in Credit Control other than to seek a better paid position or a managerial post. These are hard to come by, but are generally found in larger companies. You could of course move into Insurance at a brokers, or a company that deals with finance - but you will then have to undertake other exams prescribed by the FSA. However, your ICM qualifications are modular and should get you some exemptions.

As for carrying on with you qualifications... it's always a good idea as it shows a willingness to advance and better yourself.

Goo luck.

(: @ )

Answer 3

People have no idea how much dedication is required to be a Credit Control Manager. You are basically at the hub of the company. You deal with the sales department in helping them to sell more through extending credit terms to customers. Then, you deal with your warehouse in resolving any disputes with damaged or returned merchandise. Then, you deal with the customers with any billing problems or just trying to get them to pay on time. Finally, you have to deal with the CFO and CEO in making certain that the money arrives at the company. Remember - a sale is not a sale until the money is collected.

My advice would be to simply educate yourself further and seek more pay where you are or find another suitable company that can appreciate your talents.

Here's a great website for credit and collections professionals that I highly recommend...

http://www.CreditManagementWorld.com