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Level 5 Diploma in Credit Management
CONSULTATION
December 2014 Respond to supportservices@cicm.com by midday on Friday 27 February
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,
regulatory, ethical and social
requirements.
5
2
Be able to evaluate
operational compliance of
procedures in meeting legal,
regulatory, ethical and social
requirements.
1.2
Evaluate the operational compliance
of procedures in meeting legal,
regulatory, ethical and social
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.
Assessment suggestions:
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
area of responsibility.
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.
Assessment suggestions:
Task 1 Use appropriate methodologies to identify an area for improvement for your own
area of responsibility.
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
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 supportservices@cicm.com before midday on Friday 27 February 2015.
Thank you for helping us with this feedback.
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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.
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