Level 5 Diploma in Credit Management …...Level 5 Diploma Consultation Introduction This paper summarises proposed changes to the Institute’s Level 5 Diploma in Credit Management

Level 5 Diploma in Credit Management

CONSULTATION

December 2014 Respond to [email protected] by midday on Friday 27 February

mailto:[email protected]

Strictly private and confidential

1

Level 5 Diploma Consultation

Introduction

This paper summarises proposed changes to the Institute’s Level 5 Diploma in Credit

Management and encourages you to review and provide feedback on new arrangements.

The paper gives a background to the current Level 5 Diploma and explains concerns

which have led to the current review. The proposed new structure aims to address these

issues through minor amendments to the structure of the qualification, assessment and

study support.

You are invited to complete the survey found in Appendix B to let us know to what

extent that you agree that the Institute should:

Change the structure of the Level 5 Diploma to six compulsory units.

Increase the credit value of each unit to 10 credits (Total qualification time: 600

hours).

Implement the exemption arrangements for current or former Level 5 learners as

stated in the consultation paper.

In addition, the Institute welcomes any further comments or advice which will inform

Education Committee’s decision about final arrangements.

Background

Following 2010 Education Conference, the Institute changed the structure of the Level 5

Diploma in Credit Management from 4 compulsory units, tested by examination and one

project to the current structure of assessed mainly by work-based assignments.

The new qualification aimed to develop essential knowledge and skills for credit

managers; facilitate the transfer of learning to the workplace through work-based

assessment; and link the qualification to other professional qualifications in order to

raise its value and progression routes.

In order to achieve these aims, CICM developed a credit-based qualification which the

qualification regulators recognised on the Qualifications and Credit Framework (QCF).

Flexible rules of combination aimed to test essential knowledge and skills through 7


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small compulsory QCF units and an optional group which gave the opportunity to

specialise in a range of technical or people management areas.

The Institute planned to improve Level 5 study support through the development of new

study guides which included links to a range of texts and the offer of virtual classrooms

for all units.

This document summarises:

Concerns about the current Level 5 QCF qualification

Proposal including changes to qualification structure, assessment and study support

Arrangements for former and current learners

Next steps.

Appendices detail the following:

Appendix A Content of the proposed units with exemplar assignment questions

Appendix B Glossary

Appendix C Consultation survey


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A Concerns about the Current Level 5 QCF qualification

The new qualification has been successful in raising the practical skills of learners, as

demonstrated by the quality of work submitted for assessment. Also the Institute has

improved significantly the standard of learning materials for the Level 5 programme.

However there have been a range of technical issues, mainly related to use of the QCF

units and assessment, which have made it time consuming for learners to complete the

qualification. Other awarding bodies have experienced similar issues with the result that

Ofqual is currently consulting on the withdrawal of regulatory arrangements for the

QCF.1

For the CICM Level 5 Diploma, issues relate specifically to the following:

QCF unit credit values are too low for the units, particularly the process

improvement unit (3 credits). In all cases learners are taking a minimum of four

months to complete units. QCF unit credit values are therefore too low and the

qualification as a result contains too many units for its credit size.

Some QCF units contain too many assessment criteria and therefore are

difficult to assess in a reasonable sized assignment to meet current QCF regulatory

arrangements. The Institute has tried to minimise the assessment burden by

restricting word count, however learners have struggled to meet assessment criteria

in the given word count, with the result that they have either removed essential

content or placed important elements of tasks in the appendix which should be

contained in the main part of the report.

Some units are difficult to complete if learners are not in a leadership role in

particular leading teams unit. Also the content of units is difficult to adjust because in

some cases the Institute does not own the unit or the organisation which established

the QCF unit no longer exists.

Assessment is too onerous because learners must complete:

- A minimum of seven units which are taking far longer than the time indicated by

their credit value.

- Numerous tasks in order to show achievement of unit criteria and gain an overall

pass for the unit.

1 Ofqual (2014) ‘A consultation on withdrawing the regulatory arrangements for the Qualifications and Credit

Framework’, Coventry: Ofqual.


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- Very stretching marking criteria and a small word count to achieve an excellent

pass, which has proven to be unrealistic in many cases.

- An additional task in order to achieve higher grade in order to accommodate

contrasting academic and vocational responses to QCF assessment criteria.

Other issues

Learners have struggled to achieve the standard required because:

There is a significant jump in expectations from Level 3 to Level 5.

Some learners have limited study skills or experience in writing assignments and

therefore are poorly prepared for Level 5 study, especially if they have only taken

examinations at Level 3.

Many are reluctant to undertake additional sessions on study skills especially if there

is a fee.

Learners and tutors have found it difficult to understand what CICM expects learners

to include in assignments, despite provision of a detailed mark scheme.

Some learners have limited experience in credit management or work in

organisations with limited procedures and practices and therefore struggle to

demonstrate high level understanding and skills.

Many learners at Level 5 are self-financing with the result that some do not purchase

all recommended text or register for study support.

Provision for Level 5 face-to-face tuition is limited.

B Proposal

Ofqual’s proposed removal of regulatory arrangements for the Qualifications and Credit

Framework (QCF) gives the Institute the opportunity to address some of the above

issues, in particular issues regarding unit credit value and assessment.

The Institute therefore invites stakeholders to consider the value of the following

amendments to the qualification structure, assessment and study support.

Qualification structure

Reduce the number of units to 6 compulsory units (combining one business strategy

unit with the leadership unit) ideally without losing important content, so that

learners can complete courses 2 – 3 years (see Table 1 and Appendices A).


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Include some content from the financial analysis unit in the credit risk management

and compliance units, and from the optional legal units in the compliance units.

Add communication skills (negotiation, influencing and conflict resolution) to the

leadership unit.

Increase the credit value of new Level 5 units to better reflect learning time and to

match credit values at Level 2 and 3 units of similar size, i.e. 10 credits. This would

result in a qualification with a credit value of 60 credits.

Assessment

Provide more directional tasks which cover several assessment criteria, mapping

tasks against the assessment criteria to show coverage.

Reduce the number of activities included in the assessment and expect tasks

to be completed in the main body of the report. This will result in fewer but larger

activities with higher word counts.

Recalibrate mark schemes to make them more realistic so that excellent grade

criteria are achievable for better candidates.

Remove the optional extra section and incorporate the testing of essay type

responses for some units to test academic research and analytical skills.

See Appendix A for example questions.

Study support

Introduce recorded, online study skills support sessions to build skills required for the

course, which learners can access at any time.

Make assignments more directional to make requirements clearer.

Establish clearer links between the study guide and assignments.


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C Arrangements for former or current learners

Learners who have completed the Level 5 Diploma in Credit Management

(QCF). Following established practice at times of qualification change, CICM will

write to candidates to explain the equivalence between their qualification and the

current qualification. In this case, the will explain that the credit value of their QCF

units is equivalent to the credit of the new units. The Institute can confirm this

individually in writing if necessary, for example to support an application for a job or

academic course.

Learners who are part way through the Level 5 Diploma in Credit

Management (QCF). CICM will recognise exemptions from the current units to new

units in the qualification as shown below in Table 1:

TABLE1 Proposed new Level 5 Diploma structure and exemptions

Exemptions for old QCF Level 5 Diploma units

Old QCF Level 5 Diploma New Level 5 Diploma

Map the organisational environment 6 Strategic planning 10

Develop a customer focused

organisation 5

Strategic communications and

leadership10

Developing and leading teams 4

Credit risk management 8 Advanced credit risk management 10

Evaluate compliance with legal,

regulatory, ethical and social

requirements

6 Compliance with legal, regulatory,

ethical and social requirements 10

Monitor and review business processes 3 Process improvement 10

Legal Proceedings and insolvency 8 Legal Proceedings and insolvency 10

Total credits (plus 10 optional credits) 40 Total credits (no optional credits

required) 60


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Exemptions for old pre-QCF Level 5 Diploma units

Old QCF Level 5 Diploma New Level 5 Diploma

Practical credit management project2 Strategic planning 10

Advanced credit management

Strategic communications and

leadership 10

Advanced credit risk management 10

Process improvement 10

Credit management law Compliance with legal, regulatory,

ethical and social requirements 10

Legal proceedings and insolvency Legal Proceedings and insolvency 10

Total credits 60

The Institute will assess exemptions for any earlier units or for other business related

qualifications on an individual basis, following standard exemption arrangements. There

will be no exemption fee to carry out work related to former CICM qualifications.

D Next steps

Having received initial approval of a structure by the Institute’s Education Committee and

Assessment Board, the Institute is now consulting more widely on proposed changes

with the aim to finalise plans at the February Committee meeting. This would enable a

formal launch of the new structure at the 2015 Education Conference in June for first

assessment in October 2015.

CICM will write to all Associates and teachers to explain the changes and offer individual

guidance once arrangements are finalised. Other advice will be published in monthly

Study Updates.

2 Depending on the content of the Practical Credit Management project.


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Appendix A

Proposed new CICM Level 5 Diploma in Credit Management

6 compulsory units

Strategic planning

Advanced credit risk management

Compliance with legal, regulatory, ethical and social requirements

Process improvement

Strategic communication and leadership

Legal proceedings and insolvency

Each 10 credits. Five work-based assignments and one 3-hour examination.

Total qualification credit value: 60 credits


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Strategic planning (10 credits)

Aim

The unit aims to develop the ability to map the environment in which a business operates

and benchmark operational performance in a way which raises strategic planning and

communication skills.

Learning outcomes

The learner will:

Assessment criteria

The learner can: Level

1

Be able to map the

environment in

which an

organisation

operates.

1.1 Obtain information about an organisation and its

environment from a variety of sources. 5

1.2 Assess internal (SWOT) and external (PESTLE)

environmental factors. 5

2

Be able to

benchmark

departmental

performance

2.1 Identify good practice for your area of work using

established quality standards. 4

2.2 Benchmark departmental performance and

practices. 5

3

Be able to develop

a plan of

improvement.

3.1 Identify areas for improvement in line with

business strategy. 5

3.2 Prepare a report to communicate the scheme of

improvement to relevant stakeholders. 5

Indicative content

Information sources, e.g. business report, industry regulator, league table, intranet,

press report, competitor data.

PESTEL construction and analysis.

External environmental factors including macro and micro economics, distinguishing

economic features, competitive forces and common driving forces of change.

Internal environmental factors, including resources, capabilities, competitive power,

costs and prices.

Strategic factors, including business modeling, corporate governance, functional area

and operating strategies; organisational objectives and goals; vision, mission, values,

service level agreements (SLA).

Best practice frameworks using key success factors, competitor analysis, industry

standards and quality benchmarks, e.g. CICMQ, TQM, CSE, ISO, SOX.


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Benchmarking using best practice standards to measure performance; key

performance indicators, performance measurements, e.g. DSO, balanced scorecard,

SLA, customer service standards, departmental targets and success criteria.

Decision making including communication of plan via action plans and reports;

outcomes of success criteria; implementation and review.

Assessment suggestions

Task 1 Use PESTEL and SWOT, with other models where relevant, to investigate and

fully evaluate factors influencing an organisation.

Areas for consideration: Macro and micro economics; distinguishing economic

features; competitive forces; common driving forces of change; resources, capabilities,

competitive power, costs and prices; business modeling; corporate governance;

functional area and operating strategies; organisational objectives and goals; vision,

mission, values, SLAs.

Task 2 Assess departmental performance against benchmarks for your area of work.

Areas for consideration: Quality benchmarks (e.g. CICMQ, TQM, CSE, ISO, SOX);

key success factors, competitor analysis, dominant economic forces, driving forces of

change, competitive capabilities, industry standards, key performance indicators,

performance measurement, e.g. DSO, balanced scorecard, SLA, customer service

standards, departmental targets, success criteria.

Task 3 Prepare a report to communicate a scheme of improvement to relevant

stakeholders base on outcomes from task 1 and 2.

Areas for consideration: Action planning, stakeholder involvement, link to strategic

objectives, business reporting, communication of strategy, outcomes of success criteria,

implementation and review.


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Advanced Credit Risk Management (10 credits)

Aim

The unit aims to build high level knowledge and skills in credit risk management.

Learning outcomes

The learner will:

Assessment criteria

The learner can:

Level

1

Understand

approaches to credit

risk management.

1.1 Explain principle forms and methods of credit

risk assessment and control. 4

1.2 Assess the impact of credit risk management

approaches on stakeholders. 5

2 Be able to assess

credit risk.

2.1 Quantify credit risk using data from a variety of

information sources. 5

2.2 Assess credit risk on the basis of a range of

financial information. 5

2.3 Assess credit risk on the basis of non financial

information. 5

3

Be able to

recommend

improvements to

credit risk

management.

3.1 Report on the level of credit risk within the

department. 5

3.2 Communicate a plan of action to improve the

management of credit risk. 5

Indicative content

Theoretical understanding of credit risk management forms, models and

methodologies of assessment

Credit risk control aids

Credit risks and their driving factors, including probability of default, loss given

default and exposure at default

Continuity and resilience planning

Quantification of credit risk using financial and non financial information

External data sources

Use of internal documents such as a credit policy in the control of risk

Risk logs, registers and policies

External risk management using quality benchmarks

Impact of credit risk management on stakeholders


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Reporting of results, probabilities and impact of risk

Action planning for future review and development.

Assessment suggestions:

Task 1 Essay: Research and explain the variety of credit risk forms and methods of

assessment and control, and their impact on stakeholders.

Areas for consideration: theoretical forms of assessment (e.g. Black Swans, Modern

Portfolio Theory (MPT), prospect theory); synthetic risk management models (e.g.

empirical, structural, reduced-form modeling); control aids (e.g. credit limits, risk

categories, insurance, securities); critical path analysis; continuity and resilience

planning; external benchmarks (e.g. Sarbanes-Oxley, EFQM); champion and challenger

strategy, Value At Risk (VaR) and credit VaR;

Task 2 Use examples to showcase your ability to assess credit risk.

Areas for consideration: financial report, cash flow statement, management accounts

and notes, financial ratios, audit report, directors’ report, credit bureau information, non-

financial information, credit policy, risk log, risk register, scorecard, stress testing, risk

ratings, KPI, risk report. International Accounting Standards.

Task 3 Use the credit risk assessment report template to reflect on the credit risk

management of a department and recommend improvements.

Areas for consideration: default probability, loss and exposure; gap analysis;

regulation and responsibility (e.g. Basel, SOX); bad debt provision; probability, impact

and risk score; actions, escalations and contingencies.


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Compliance with legal, regulatory, ethical and social requirements (10 credits)

Aim

The unit aims to develop the ability to evaluate compliance with legal, regulatory, ethical

and social requirements for own area of responsibility.

Learning outcomes

The learner will:

Assessment criteria

The learner can:

Level

1

Understand responsibilities

and liabilities in relation to

legal, regulatory, ethical and

social requirements.

1.1

Examine responsibilities and

liabilities in meeting legal,


requirements.

5

2

Be able to evaluate

operational compliance of

procedures in meeting legal,


requirements.

1.2

Evaluate the operational compliance

of procedures in meeting legal,


requirements for own area of

responsibility.

5

3

Be able to review and report

on compliance with legal,

regulatory ethical and social

requirements.

3.1 Report on level of compliance of

procedures, based on research. 5

3.2

Evaluate the impact of compliance

and non-compliance on key

stakeholders.

5

3.3

Develop an action plan to address

areas of non-compliance for own

area of responsibility.

5

Indicative content

Evaluation of legal, regulatory, ethical and social obligations across function

Liabilities and consequences of non-compliance

Risk factors based on occurrence and severity

Comparison of operational procedures and documentation against compliance

requirements

Sources of compliance data and procedures to gather data

Cross analysis and weight of influence

Compliance reporting including stakeholder impact, consultation and governance

Action planning to improve non compliance

Principles of legal liability

Appropriate legal responses to address problems related to the functional area


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Financial regulations, e.g. audit, Companies Act, Accounting Standards.


Task 1 Using the template provided, complete a self assessment for your function’s

position in respect of its legal, regulatory, ethical and social responsibilities.

Areas for consideration: Legal, regulatory, ethical and social obligations; comparison

of operational procedures and documentation against compliance requirements; sources

of compliance data and procedures to gather data; cross analysis and weight of

evidence; compliance reporting; principles of legal liability; financial regulations e.g.

audit, Companies Act, Accounting Standards.

Task 2 Essay: Critically evaluate the impact of your function’s compliance and non-

compliance on key stakeholders.

Areas for consideration: Liabilities and impact of non-compliance; risk factors based

on occurrence and severity; compliance reporting including stakeholder impact,

consultation and governance.

Task 3 Prepare a one-page executive summary and detailed action plan to address any

gaps or improvements, based on your research from tasks 1 and 2.

Areas for consideration: Compliance reporting, action planning to improve non

compliance.


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Process improvement (10 credits)

Aim

The unit aims to develop the ability to monitor and review business processes in own


Learning outcomes

The learner will:

Assessment criteria

The learner can:

Level

1.

Be able to monitor

business

processes.

1.1

Use appropriate measures to monitor and

assess business processes in own area of

responsibility.

5

1.2

Work with relevant stakeholders to monitor how

business processes affect the quality of work in

the department.

5

2.

Be able to review

business

processes.

2.1

Devise a plan for suggested improvements in

response to the business process monitoring

undertaken.

5

2.2 Use appropriate measures to check the validity

of the plan of improvement. 5

2.3 Take corrective action and revise plans where

necessary. 5

3.

Be able to improve

business

processes.

3.1 Prepare a business plan for the implementation

of proposed process improvements. 5

3.2 Develop measures to test the impact of the

change to business processes. 5

Indicative content

Benefits and potential difficulties associated with business process management

Lean Six Sigma, Streamlined Process Improvement (SPI) and Continuous

Improvement methodologies

Use of tools and techniques to identify areas for improvement including value stream

mapping, statistical process control and the DMAIC problem solving process.

Critical business processes and preliminary boundaries

Creation of process improvement team and project plan including reporting


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Mapping and documenting current business processes including employee

observations and process walk-through

Cost, cycle time and output analysis

Remove non-value-adding process steps through leaning, cleaning and greening

Selecting best-value future-state solutions

Validation and verification of changed process.

In-process measurement and feedback systems

Implementation plans including change effect measurements and continuous

improvement, with consideration of the implementation, review and communication

of strategy

SWOT construction and analysis.


Task 1 Use appropriate methodologies to identify an area for improvement for your own


Areas for consideration: Streamlined Process Improvement (SPI), Lean Six Sigma,

problem prioritisation, business opportunities.

Task 2 Working with relevant stakeholders, use techniques to improve the process.

Areas for consideration: Value added analysis, SPI, downtime, root cause analysis,

outsourcing, co-production, automation.

Task 3 Business plan: Pitch a plan to your target organisation for the suggested process

improvement.

Areas for consideration: Validation, measures and feedback systems for changed

process. Implementation plan and communication, SWOT analysis of changed process.


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Strategic Communication and Leadership (10 credits)

Aim

The unit aims to build leadership skills through a theoretical and practical understanding

of strategic communications.

Learning outcomes

The learner will:

Assessment criteria

The learner can:

Level

1

Be able to

evaluate

communication in

relation to a

department.

1.1

Evaluate the effectiveness of departmental

communication in relation to internal and

external stakeholders.

5

1.2 Use theory to explain any barriers to

communication with stakeholders. 5

1.3 On the basis of research, explain the impact of

communication styles on work group issues. 5

2

Know how to

improve

communication in

order to achieve

positive outcomes

2.1 Use theory to explain a range of communication

issues. 5

2.1 Identify strategies to resolve main areas of

internal and external conflict. 5

2.2

Apply a range of appropriate communication

styles to manage change and achieve positive

outcomes.

5

3

Understand the

role of

communication in

relation to leading

teams.

3.1

Explain the importance of leadership in helping

teams achieve organisational goals and

objectives.

5

3.2 Evaluate the role of communication in relation

to leading teams. 5

3.3 Use theory to explain effective leadership

communication practices. 5


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Indicative content

Communication theories and analysis techniques

Sources of conflict, aspects of conflict internally and externally, conflict styles

Conflict management and resolution

Negotiation and influencing techniques

Importance of good leadership in achieving goals and objectives

Measuring team performance against organisational goals

Concepts of influence, authority and power and the responsibilities of leaders

Effectiveness of leaders in achieving goals including attributes of a good leader

Factors that influence behaviour at work

Strategies for building motivation, high level skills and responsibility

Assessment suggestions

Task 1: Use a range of relevant techniques to evaluate the effectiveness of

departmental communication with internal and external stakeholders.

Areas for consideration: Communication theory, barriers to communication, including

verbal and non verbal, physical and psychological factors, customer relations,

communication methods, communication with intention, communication of shared vision,

effective listening skills, emotions and rapport.

Task 2: On the basis of conclusions from task 1, and working with relevant stakeholders

where appropriate, prepare a plan to improve communications and achieve positive

outcomes.

Areas for consideration: sources of conflict, aspects of internal and external conflict,

conflict styles, conflict management strategies, customer remedies, win:win situations,

managing conflict assertively, change management..

Task 3: Essay: Comment on the role of communications in relation to successful team

leadership.

Areas for consideration: Organisational structure and culture, management,

leadership and communication theories, management styles, personal leadership styles,

peer feedback, organisational and departmental objectives, communication of shared

vision, mission and values, negotiation strategies, influence, Best Alternative to a

Negotiated Agreement (BATNA), persuasion, sources of power, wants and needs,

mediation, respect, feedback, delegation.


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Legal proceedings and insolvency (10 credits)

Aim

The unit aims to develop an understanding of legal proceedings and insolvency in

relation to the collection of debt.

Learning outcomes

The learner will:

Assessment criteria

The learner can:

1

Understand how to prepare for

recovery of debt through the

courts.

1.1 Assess the suitability of a case for recovery

of debt through the courts.

1.2 Explain how to prepare for recovery of debt.

2 Understand routes to judgment

on undefended claims.

2.1 Evaluate the debtor’s options after service of

a claim.

2.2 Explain a creditor’s reaction to the debtor’s

response.

2.3 Explain different types of judgment.

3 Understand the routes to

judgment on defended claims. 3.1

Tactically evaluate routes to judgment on

defended claims.

4 Understand how to enforce a

judgment.

4.1 Explain methods of enforcement.

4.2 Evaluate methods of enforcement for

different debtor types.

5 Understand insolvency in

relation to debt collection.

5.1 Compare and contrast different types of

insolvency.

5.2 Evaluate the process of insolvency for the

collection of undefended debt.

6

Understand how a credit

manager can manage the post-

insolvency processes.

6.1 Explain how a credit manager can manage

the post-insolvency processes.

Indicative content

Case assessment and preparation for recovery of debt through the courts

Debtor options and creditor reactions after service of a claim

Types of judgment and routes to judgment on defended claims

Methods of enforcement

Types of insolvency including evaluation of insolvency process

Management of the post-insolvency processes.

Assessment suggestions: Retain existing exam - but introduce further compulsory

sections to ensure adequate syllabus coverage.


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Appendix B

Glossary

BATNA Best Alternative to a Negotiated Agreement

CSE Customer Service Excellence

DMAIC Define, Measure, Analyze, Improve and Control process

DSO Days Sales Outstanding

EFQM European Foundation for Quality Management Excellence Model

ISO International Organisation for Standardisation

MPT Modern Portfolio Theory

PESTLE Political, Economic, Socio-cultural, Technological, Legal and

Environmental analysis

QCF Qualifications and Credit Framework

CICMQ Quality in Credit Management accreditation

SOX

Sarbanes–Oxley Act. Also known as ‘Public Company Accounting

Reform and Investor Protection Act’ or ‘Corporate and Auditing

Accountability and Responsibility Act’

SLA Service-level agreement

SPE Streamlined Process Improvement

SWOT Strengths, Weaknesses, Opportunities and Threats analysis

TQM Total Quality Management


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Appendix C

Level 5 Diploma Consultation Survey

The Institute is keen to know your views about proposed changes to the Level 5 Diploma

in Credit Management.

Name Company

Job title Telephone

Email

Grade Affiliate Associate Member Graduate Fellow Non member

1. What is your interest in the Level 5 Diploma?

e.g. Current Level 5 learner, former Level 5 learner (partly complete), Current Level 3 learner thinking

about progressing to Level 5, employer, teacher.

2. Please read the attached consultation paper and complete questions below

Score: 5 - strongly agree. 4 – agree. 3 – unsure. 2 – disagree. 1 – strongly disagree.

To what extent that you agree that the Institute should:

a) Change the structure of the Level 5 Diploma to six compulsory units.

b) Increase the credit value of each unit to 10 credits (Total qualification

time: 600 hours).

c) Implement exemption arrangements for current or former Level 5

learners as stated in the consultation paper.

3. If you are unsure or disagree with any of the above, please explain why:

4. If you have any further comments or advice to inform Education

Committee’s decision about arrangements, please add these below:

Please email your response to [email protected] before midday on Friday 27 February 2015.

Thank you for helping us with this feedback.

mailto:[email protected]


22

The Chartered Institute of Credit Management

The Chartered Institute of Credit Management (CICM) is Europe’s largest credit

management organisation and the second largest globally. The Institute has recently

been granted a Royal Charter and therefore will be known going forward as the

Chartered Institute of Credit Management (CICM). The trusted leader in expertise for all

credit matters, the Institute represents the profession across trade, consumer and

export credit, and all credit-related services. Formed over 70 years ago, the Institute is

the only such organisation accredited by Ofqual and offers a comprehensive range of

services and bespoke solutions for the credit professional as well as services and advice

for the wider business community, including the acclaimed CICM/BIS Managing

Cashflow guides.

The Institute is a respected, specialised awarding organisation which has awarded

qualifications since 1949 and has been accredited by the qualification regulators since

2001. The Institute has the expertise to develop regulated units and qualifications and to

review National Occupational Standards. The Institute awards qualifications from Level 2

to Level 5 in credit management, money and debt advice, debt collection and

enforcement.

http://www.cicm.com/resources/cashflow-guides/

http://www.cicm.com/resources/cashflow-guides/

Documents

Level 5 Diploma in Credit Management …...Level 5 Diploma Consultation Introduction This paper summarises proposed changes to the Institute’s Level 5 Diploma in Credit Management