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 30th 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:

 

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