08 May 2024
by Nevin Nice, Brendan Gill, Natascha Whitehead

Understanding operations and exploring the recruitment landscape

The Chartered Institute of Credit Management (CICM) recently hosted a Best Practice event, proudly held by Xoserve.

The Chartered Institute of Credit Management (CICM) recently hosted a Best Practice event, proudly held by Xoserve. This blog summarises the key takeaways from the event, which focused on Xoserve's key role within the gas industry and its credit management function , along with valuable insights on the current recruitment landscape presented by our premium corporate partner, Hays.

Xoserve: The linchpin of Britain's Gas Market

Brendan Gill, Credit & Energy Balancing Neutrality Manager, and Sharon Bright, Credit & Risk Lead, presented an overview of the UK market and the important role that Xoserve plays within it. Xoserve goes beyond just credit management; they're central to the smooth operation of Britain's entire gas network. Here's a deeper dive into their functions:

  • Financial Hub: Xoserve acts as a financial hub for the gas market, calculating and issuing billions of pounds worth of transportation and energy balancing invoices per annum. They ensure that gas shippers pay for the energy element of the gas they transport through the gas network and ensure that National Gas Transmission (NGT) maintains financial neutrality.
  • Credit Champions: Xoserve's credit team safeguards the financial integrity of the gas network. They meticulously monitor gas shipper indebtedness each working day through their Gemini system. Cash calls are issued to gas shippers where set tolerances are breached to ensure sufficient security is always held in order to protect the market.
  • Guardian of the Network: Financial institutions providing security for shippers are monitored daily by Xoserve to ensure their creditworthiness meets acceptable published ratings with headrooms set per financial institution to spread risk This vigilance helps to protect the  gas market from financial exposure.

Navigating the Changing Recruitment Landscape in Credit Management

Natascha Whitehead, Senior Business Director - Hays Credit Management, presented on critical trends shaping recruitment within the credit and risk management sector. Here are some key points that extend beyond the information previously mentioned:

  • Redefining Value: Educational qualifications are no longer the sole determinant of employability. Employers are increasingly valuing transferable skills like problem-solving, critical thinking, and data analysis. Communication and interpersonal skills are also paramount for building strong relationships with clients and colleagues.
  • The Rise of the Learner: The credit management profession is undergoing a transformation. The ever-changing technological landscape necessitates a lifelong commitment to learning. Employers are seeking candidates with a demonstrable willingness and aptitude to upskill themselves, adapting to new technologies and regulations.
  • Alternative Routes to Success: University degrees are no longer the only path to a successful career in credit management. Apprenticeship programs and vocational training offer lucrative career paths that equip individuals with the necessary skills and knowledge without the burden of student debt.

The CICMQ Best Practice event provided valuable insights into Xoserve's critical role in supporting the balancing of Britain's gas market and the evolving recruitment landscape within the credit and risk sector. The credit profession offers a dynamic and rewarding career path for individuals who are passionate about building a diverse skillset and embracing continuous learning. With its focus on financial responsibility, analytical thinking, and effective communication, a career in credit management and collections can be a springboard to a fulfilling and successful future.

Related topics