31 Jan 2024

by Luke Sculthorp FCICM, Jules Eames FCICM (Grad); PGCE, Mary Delahunty MCICM (Grad), Tom Sharman

Credit and Collections Essentials 2024

Catch up on our webinar about the Credit and Collections Essentials for 2024

If you work in Credit Management and Debt Collection, you must keep on top of your professional development and knowledge to perform at your highest. On the 30^th January 2024, the Chartered Institute of Credit Management hosted their annual “Credit and Collections Essentials” event.

In case you missed it, we’ve made sure to round up everything you need to know in an easy-to-navigate YouTube Video and written up a summary of the points discussed.

Without much more introduction, let’s dissect what our speakers; Luke Sculthorp FCICM, Jules Eames FCICM and Mary Delahunty MCICM(Grad) covered in this event.

Navigate to the part of the event you want to watch

4:53 - Technical Skills

10:07 - Interpersonal Skills

13:33 - Strategic Skills

16:11 - How to set personal development goals

20:18 - Personal Development Plan Template

21:41 - CICM Qualification

23:47 - CICM Training

30:00 - How others are preparing for 2024

35:16 - Top Tips for 2024

38:43 - Download the Credit and Collections Review

Mastering the Essential Skills:

Jules Eames FCICM, Resource and Content Manager at CICM, kicked off the call by looking at the Technical, Interpersonal and Strategic skill that the 2024 credit professional is going to need:

Technical Skills

In today's financial labyrinth, a firm grip on insolvency handling, consumer duty regs, and financial analysis is your compass. Navigate complex legal frameworks like a seasoned skipper, assess financial situations with the precision of a laser, and make decisions sharper than a new suit.

Interpersonal Skills

Building strong bonds is more important than ever. Hone your emotional intelligence to connect with customers like a barkeep with regulars, develop persuasive negotiation skills to strike win-win deals, and be as adaptable as a possible to tailor your communication to different people. At the end of the day, people pay people and it will be the power of empathy and your interpesonal skills that get the best out of a situation.

Strategic Skills

Thinking ahead and adapting to curveballs is your secret weapon. Embrace agile working practices to dodge market wobbles like a nimble dodger, future-proof your resources and team by staying clued up on industry trends, and foster collaboration and alignment within your crew.

Charting Your Personal Development Journey:

Following from Jules’ comments, Mary Delahunty MCICM(Grad), Qualification and Apprenticeship Delivery Manager, discussed setting personal development goals, which can be very challenging for all professionals. Here are some of the key takeaways:

Self-Awareness is Key: Start by taking a long, hard look in the mirror and owning your strengths and weaknesses. Use CICM's handy Professional Skills Audit inside CICM Knowledge Hub and Personal Development Plan to set realistic goals that'll rocket your career.
Invest in Qualifications: Upgrade your expertise with CICM Qualifications, from Level 2, Level 3 and Level 5. Sharpen your skills and unlock new career paths by upping your professional membership.
Explore Apprenticeship Routes: For those who learn best by doing, apprenticeship programmes offer valuable on-the-job training and funding for CICM Qualifications.

Equipping Yourself with the Right Training and Qualifications:

Together, Jules and Mary highlighted some of the ways that CICM helps Credit and Collections Professionals with their professional development, via CICM Training and CICM Qualifications.

Choose from a variety of study methods such as Virtual Classes, Learning Support Service or self-paced independent study options for great flexibility with your learning and development.
There is no need to settle for a one-size-fits-all approach. CICM's training can be tailored bespoke to tackle your specific needs and equip your team with the skills they need to ace their roles.
Remember, continuous learning and development are the lifeblood of success in the ever-evolving world of credit and collections. By embracing the insights and resources offered by CICM, you can develop the skills and knowledge you need to navigate the challenges, seize the opportunities, and crack on in 2024 and beyond.

Your virtual event goody-bag

It wouldn’t be a CICM event without your virtual goody-bag to take away.

Access the slides discussed on the call, the CICM Training Brochure, The CICM personal Development Plan Template and the Credit and Collections Review of 2023, below:

Download the slides

Download the Training Brochure

Download the Personal Development Plan Template

Download the Credit and Collections Review 2023

Authors

Luke Sculthorp FCICM

Head of Strategic Relationships, Chartered Institute of Credit Management

Post University, in summary my career started in retail banking with Northern Rock plc, experiencing first-hand the credit crunch of 2008, I subsequently moved into the credit services sector, joining a trade body representing debt collection, where my passion for learning was cultivated. From then on, I have been associated with the credit industry until today.

If you are interested in developing your Credit and Collections teams, get in touch.

Jules Eames FCICM (Grad); PGCE

Resource and Content Manager , Chartered Institute of Credit Management

Jules Eames FCICM (grad); PGCE, is a qualified teacher, trainer and credit manager with experience in credit and debt specialisms across the O2C spectrum and ancillary businesses, in consumer, B2B and export markets.

With over 20 years in active Credit Management and a pivotal role in the development and delivery of teaching and training within CICM, Jules is passionate about helping credit professionals be the best they can be.

Her enthusiastic, interactive training sessions offer practical, workable and realistic approaches to relevant subjects, imparting the knowledge and skills needed to drive positive results and greater confidence.

Email:: [email protected]
LinkedIn:: https://linkedin.com/in/jules-eames-fcicm-grad-pgce-1a923a55/

Mary Delahunty MCICM (Grad)

Qualification & Apprenticeship Delivery Manager, Chartered Institute of Credit Management

Mary is a qualified teacher, trainer, and graduate member of CICM with over 20 years’ credit management experience. Her credit career has included holding management positions for multinational businesses.

As CICM Qualifications and Apprenticeship Delivery Manager Mary advises individuals and employers on establishing and implementing development pathway solutions for supporting careers across the credit arena

and leads the teaching provision for CICM Credit Academy delivering on virtual classroom and face to face courses for CICM qualifications.

Mary is continuously inspired by her students and feels it is a privilege to play a part in supporting individuals with their career development.

Email:: [email protected]
Phone:: +44 (0)1780 722

Tom Sharman

Senior Marketing Executive, Chartered Institute of Credit Management

I'm passionate about strategy, have an eye for analytics and care about memorable customer journeys through innovative content, campaigns and communications.

I have been recognised as the Advanced Apprentice of the Year by the Peterborough Telegraph, awarded to me as a result of the quality of the work I produced during my apprenticeship - an award that I see as a true testament of my knowledge, diligence, passion and dedication to the marketing profession.