Credit industry leaders welcome approval of new apprentices in Advanced Credit Control & Debt Collection
The Chartered Institute of Credit Management (CICM) and Credit Services Association (CSA) have welcomed the announcement that the Department for Business, Innovation and Skills (BIS) has approved an employer bid to develop an Advanced Credit Control & Debt Collection Trailblazer Apprenticeship standard.
Apprentices will gain advanced knowledge about credit management/collections and the opportunity to specialise in areas such as credit risk, collections and debt recovery. CICM and CSA encourage employers to provide feedback on emerging arrangements and to contact them if they are interested in taking on apprentices next year.
Debbie Tuckwood, CICM Director of Learning and Development, says that this is a significant development that builds on current work: “The new advanced apprenticeship will help employers recruit talented young people by raising awareness of credit management and debt collection as an occupation and establishing credit and collections as a career of choice.”
Peter Wallwork, Chief Executive of the CSA agrees: "This is an important step on what is now a clear career pathway that will encourage more young people into the credit industry," he says. "it is further evidence of the increasing 'professionalisation' of debt collection and a tacit acknowledgement from government of its vital importance to the UK economy."
The joint CICM and CSA employer steering group believes that senior credit controllers and collectors require rigorous and substantial training of 18 months 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 would be to senior/managerial roles with the opportunity for higher-level study while working in a credit/collections, and professional recognition by the Chartered Institute of Credit Management (CICM) and Credit Services Association (CSA). Further information will be published on the CICM and CSA websites during the year.