News Article

Credit Management

CICM welcomes new apprenticeships in credit management

By CreditMan Monday, April 13, 2015

The announcement by The Department for Business, Innovation and Skills (BIS) to develop a Credit Controller Trailblazer Apprenticeship Standard has been welcomed by The Chartered Institute of Credit Management (CICM), Europe’s largest credit management organisation.

Apprentices will gain knowledge about all aspects of credit management from credit application processing and credit risk assessment to collections and debt recovery, and skills specifically in telephone collections.

Debbie Tuckwood, CICM Director of Learning and Development, believes this is a significant development: “The new apprenticeship will help employers recruit talented young people by raising awareness of credit management as an occupation and establishing credit as a career of choice,” she says.

“The new pathway will also give employers the opportunity to address skills gaps by developing young people with the right skill sets in role as an alternative to recruiting experienced credit controllers or graduates.'

The employer steering group believes that credit controllers require rigorous and substantial training of at least over a year to achieve full competence and they are committed to ensuring that the new standard will provide sufficiently transferable skills to enable successful apprentices to work for employers of any size or sector.

Progression routes will be to senior credit controller and credit management roles with the opportunity to study further to degree level while working in credit roles and gain CICM professional recognition. Further information will be published on the CICM website during the year.

“The CICM encourages employers to provide feedback on emerging arrangements and to contact us if they are interested in taking on apprentices in January 2016,” Debbie concludes.