Whenever I have been asked to participate with reviewing resumes for clients to fulfill a credit manager position, my eyes will always look for the credentials CCE, CBA, CICP, or MBA as a starting point. It lets me and the employer know that at a minimum, one has put the effort in to expand and/or enhance their knowledge base. It’s certainly not a given that having one of these credentials will make a candidate an expert, since the credential has to be supported by experience. But at least it’s the beginning of the employment screening process.
Although many people work in the field of credit, they may not have yet attained any of the credentials I mentioned above. Let me take a moment to briefly explain what each credential means.
1. CCE (Certified Credit Executive) – This is one of the most directly relevant credentials for credit risk management. The CCE credential focuses specifically on the skills needed to manage credit, including credit principles, risk assessment, legal aspects, and financial analysis. It shows that you have deep expertise in credit-related issues, making it highly valued in roles like credit manager, risk analyst, or credit officer.
2. CBA (Certified Business Analyst) – The CBA is an academic-based designation which signals mastery of three business credit related disciplines: basic financial accounting, business credit principles and introductory financial statement analysis.
3. CICP (Certified International Credit Professional) – If you are working in international credit risk management, this certification is highly relevant. The CICP is designed for professionals involved in global trade finance, international credit practices, and cross-border risk management.
4. MBA (Master of Business Administration) – An MBA is broadly applicable in credit risk management, particularly for leadership, strategic planning, and executive roles. While it doesn’t focus specifically on credit, an MBA provides comprehensive business knowledge, including finance, management, and strategy, all of which are useful in managing credit risk at a high level.
I would venture to say that for a career in credit risk management, the CCE or CICP certifications would be most directly impactful, while an MBA is an excellent degree for moving into leadership roles.
Certifications 1-3 can be obtained through several courses of study offered by the National Association of Credit Management.
Your thoughts and comments (nseiverd@cmiweb.com) are most welcome!
Nancy Seiverd, President
CMI Credit Mediators, Inc.
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