Credit management education programme

Credit has become an important element to gain competitive advantage in today's dynamic business environment. Consequently, people employed at the credit department have an important role to play: "aiming to achieve high volume of profitable sales with possibly no or few bad debts and a sound cash flow management, while building a long-term business relationship with their clients."

An effective way to achieve such business rewards is by combining the work force's experience with education. In a nutshell, by investing in skills and competences.

Many Maltese companies very often entrust one of their key assets - 'debtors' - in the hands of inexperienced or unqualified personnel, and the Malta Association of Credit Management (MACM) has long felt the need to introduce in Malta accredited qualifications for people working in the field of credit management to develop the right skills and qualities that could also be applied to other managerial roles.

The ICM (UK) qualifications

The Institute of Credit Management (ICM) education scheme has been established for over 20 years and the syllabus is reviewed annually to ensure its relevance to the credit function.

The ICM has long believed in the value of an all-round grounding in credit management and the education syllabus for students studying for the ICM qualifications is designed to give the best possible foundation upon which to build a career in credit management.

The strength of the syllabus lies in both the strong foundation on which to base a career, and in the opening it can give to those who have hitherto only had exposure to trade, consumer or export. In other words, the aspiring credit manager can look to broaden his or her horizons by studying to achieve the ICM qualifications.

Why the ICM qualifications?

The Malta Association of Credit Management has always been active to introduce a recognised, hands-on education programme for students and credit practitioners in Malta, and the ICM qualifications meet the MACM's objectives.

Founded in 1939, the ICM is the largest professional credit management organisation in Europe with 9,000 members and students, and is the centre of expertise in the UK for all matters relating to credit management.

The ICM is also an accredited awarding body offering nationally recognised qualifications in credit management. In carrying out this role, the institute establishes and maintains credit related learning syllabi, organises and quality controls every aspect of the examination process, and accredits centres that deliver ICM qualifications.

The syllabus

There are two levels of the Credit Management Education Programme: the ICM Certificate in Credit Management and the ICM Diploma in Credit Management.

On the successful completion of the ICM Certificate in Credit Management, one is eligible to become an Associate of the Institute - AICM (Cert).

On completion of the Certificate and Diploma in Credit Management, one becomes a graduate of the Institute - MICM (Grad).

It is hard work and no-one would ever consider entering the process lightly. The end result pays great dividends, however, both in status and reward, and should be viewed by both employer and employee as an investment in one's future. It is strongly recommended.

In Malta, part-time evening courses are being offered by the Malta Association of Credit Management. A number of Maltese students have already taken the course and are currently reading this valuable education programme.

The next intake will be in October and will be run at the MACM, at 86/2, Triq ta' Mellu, Mosta. Students will benefit from a specialised library, modern classroom facilities and highly qualified tutors. MACM is the accredited ICM (UK) Teaching Centre for Malta.

Interested students need to register through MACM for membership with the ICM by not later than Friday, September 23. For further information about ICM qualifications, contact the MACM on 2142-3638 or e-mail info@macm.org.mt.

Mr Josef Busuttil is director general, Malta Association of Credit Management