Top 10 Collection Manager Certifications

Certifications are an important part of a collection manager's job market because they demonstrate the individual's knowledge and experience in the field. Certification provides employers with evidence that the individual has met industry standards and is qualified to perform collection management duties. It also demonstrates a commitment to professional development and career advancement, which can make the individual more attractive to potential employers. Additionally, certifications can give employers confidence that the individual is up-to-date on best practices, new technologies, and trends in the industry.

This article reviews some of the top certifications for Collection Managers and explains how they can help to advance their career.

What are Collection Manager Certifications?

Collection Manager Certification is a professional credential that recognizes an individual’s knowledge and experience in the field of collections management. This certification ensures that a person has the skills and qualifications necessary to manage a collection properly. It is designed to give organizations assurance that their collections are managed in accordance with best practices, as well as providing individuals with an opportunity to demonstrate their expertise and commitment to the profession.

The certification process involves taking a series of courses and exams covering topics such as collection development, preservation, cataloging, exhibit design, accessioning and deaccessioning, budgeting, legal issues related to collections management, risk management, security systems, public relations and marketing strategies for collections. Upon successful completion of the program, individuals receive a certificate verifying their accomplishment.

Having Collection Manager Certification can benefit both individuals and organizations in several ways. It serves as proof of professional competence in the field of collections management; it demonstrates a commitment to learning new techniques and staying abreast of changes in the field; it provides employers with assurance that their collections are being managed properly; it allows job applicants to stand out from other applicants who lack this certification; and finally it gives those already working in the field an opportunity to advance their careers by showcasing their expertise.

Pro Tip: When considering collection manager certification, look for programs that provide comprehensive training in the areas of best practices, compliance and risk management. Additionally, seek out certifications that are recognized and respected by leading industry organizations or employers.

Related: What does a Collection Manager do?

Top 10 Collection Manager Certifications

Here’s our list of the best certifications available to Collection Managers today.

1. Certified Collection Manager (CCM)

Certified Collection Manager (CCM) is a professional certification program offered by the International Association of Credit and Collection Professionals (IACC). The CCM designation is designed to recognize individuals who have demonstrated a high level of knowledge, skills and ethical standards in the field of credit and collections.

The CCM program requires successful completion of two exams. The first exam covers topics such as collection laws, regulations, industry best practices, customer service and communication strategies. The second exam focuses on financial analysis and debt recovery techniques. Both exams are available online or through IACC-approved testing centers.

To become certified, applicants must meet certain eligibility requirements including at least three years of full-time credit and collections experience within the past five years. Applicants must also submit an application form with references from employers or colleagues attesting to their professional qualifications.

The cost for the CCM program is $325 for members of IACC and $425 for non-members. This fee includes both exams, study materials and access to webinars on current trends in the industry. It typically takes between four to six weeks to complete the entire process from registration to certification.

2. Certified Credit and Collection Compliance Officer (CCCOCO)

A Certified Credit and Collection Compliance Officer (CCCOCO) is a professional designation that demonstrates expertise in credit and collection compliance. This certification is offered by the National Association of Credit Management (NACM). It is designed to give credit and collection professionals a comprehensive understanding of the laws, regulations, and best practices related to the credit and collection industry.

The CCCOCO certification requires applicants to pass an examination that covers topics such as consumer protection laws, debt collection practices, bankruptcy law, dispute resolution procedures, and other relevant topics. The exam takes approximately three hours to complete.

To become certified as a CCCOCO, applicants must have at least two years of experience in the credit or collections field. They must also submit an application form along with a fee of $125 for NACM members or $225 for non-members. Once approved, applicants will receive their certification within four weeks.

The CCCOCO certification is valid for three years from the date of issuance. To maintain their certification status, applicants must complete at least 12 hours of continuing education credits every year.

3. Certified Professional Collector (CPC)

Certified Professional Collector (CPC) is a certification program offered by the American Collectors Association (ACA). It is designed to recognize and promote professional collectors who demonstrate a high level of knowledge, skills, and ethical standards in the collection industry. The CPC certification is earned through successful completion of an exam that tests a collector’s knowledge of debt collection laws, regulations, and best practices.

The exam consists of 100 multiple-choice questions covering topics such as consumer rights, legal compliance, communication techniques, skip tracing methods, and dispute resolution. To be eligible to take the exam, applicants must have at least two years of experience in the collection industry or have completed an ACA-approved training course.

The exam fee is $150 and it typically takes two to three hours to complete. Upon passing the exam with a score of 70% or higher, applicants will receive their Certified Professional Collector designation from the ACA. The certification is valid for three years before needing to be renewed. Renewal requires proof of continuing education credits as well as paying a renewal fee of $100 every three years.

4. Certified Receivables Management Professional (CRMP)

Certified Receivables Management Professional (CRMP) is a certification program offered by the National Association of Credit Management (NACM). The CRMP designation is designed to recognize individuals who have demonstrated expertise and knowledge in the field of receivables management. It is intended to serve as a benchmark for employers, customers, and other stakeholders when evaluating receivables management professionals.

The CRMP program consists of two parts: an online course and an exam. The online course covers topics such as credit analysis, collection strategies, accounts receivable management, legal considerations, customer service, and more. It typically takes about 40 hours to complete the course. After completing the course, candidates must pass a comprehensive exam that tests their knowledge of receivables management principles and practices.

To become certified as a CRMP, applicants must meet certain eligibility requirements including having at least three years of experience in accounts receivable or credit management. Candidates must also be members of NACM or one of its affiliated associations.

The cost for the CRMP program is $595 for NACM members and $795 for non-members. This includes access to the online course materials and exam fees.

5. Certified Accounts Receivable Professional (CARP)

Certified Accounts Receivable Professional (CARP) is a certification program offered by the National Association of Credit Management (NACM). This certification is designed to recognize individuals who have achieved a high level of expertise in the field of accounts receivable management.

The CARP program requires applicants to complete a comprehensive examination that covers topics such as credit analysis, collections, accounts receivable management, and customer service. The exam consists of multiple-choice questions and takes approximately three hours to complete. To be eligible for the exam, applicants must have at least two years of experience in accounts receivable management or equivalent education/training.

The cost of the CARP certification is $295 for NACM members and $395 for non-members. After passing the exam, applicants will receive their CARP designation along with a certificate and lapel pin. The credential must be renewed every three years through continuing education credits or re-examination.

6. Certified Credit Executive (CCE)

Certified Credit Executive (CCE) is a professional designation awarded by the National Association of Credit Management (NACM). The CCE designation is designed to recognize individuals who have achieved a high level of expertise in the field of credit management. It is intended to demonstrate an individual's commitment to excellence and professionalism in the field.

The CCE designation requires completion of a comprehensive program that includes coursework, examinations, and experience. This program takes approximately two years to complete, depending on the individual's prior experience and knowledge.

To become certified as a CCE, applicants must meet certain criteria including:

- Having at least three years of full-time credit management experience;

- Completing six core courses offered by NACM;

- Passing four exams administered by NACM; and

- Demonstrating proficiency in areas such as financial analysis, legal aspects of credit management, international credit practices, and risk management.

The cost for the entire certification program varies depending on which courses are taken and whether or not any discounts are available. Generally speaking, it can cost anywhere from $2,000 to $3,000 for the entire program.

7. Certified Debt Resolution Specialist (CDRS)

A Certified Debt Resolution Specialist (CDRS) is a professional who has specialized knowledge and experience related to debt resolution. This includes helping individuals and businesses negotiate with creditors to reduce or eliminate their debt. They are knowledgeable about the laws, regulations, and procedures related to debt resolution.

In order to become a CDRS, an individual must complete a certification program offered by the International Association of Professional Debt Arbitrators (IAPDA). The program consists of online courses covering topics such as credit counseling, debt negotiation, bankruptcy law, consumer protection laws, and ethics. It typically takes between 6-12 months to complete the program depending on the individual's availability.

The cost for the certification program varies depending on the provider but generally ranges from $500-$1,000 USD. After completing the program and passing the exam, individuals will be awarded their CDRS designation.

8. Accredited Financial Counselor-Collection Management (AFC-CM)

Accredited Financial Counselor-Collection Management (AFC-CM) is a certification program offered by the Association for Financial Counseling and Planning Education (AFCPE). The AFC-CM designation is designed to prepare financial counselors to work in the collections industry. It focuses on the knowledge and skills needed to effectively manage consumer debt collection accounts.

The AFC-CM certification requires applicants to have at least three years of experience working in collections, either as an employee or as a consultant. Applicants must also have completed an approved training program in collections management or have taken courses related to this field.

In order to apply for the AFC-CM certification, applicants must submit an application form and fee, provide proof of their work experience, and pass a written exam. The exam covers topics such as debt collection regulations, consumer protection laws, credit reporting regulations, dispute resolution, fair debt collection practices, and other topics related to collections management.

The cost of the AFC-CM certification varies depending on how many courses are taken and how long it takes to complete them. Generally speaking, the cost ranges from $500-$700 USD. Once certified, individuals must renew their credentials every two years by completing continuing education activities related to collections management.

9. American Collectors Association Certification Program (ACA CP)

The American Collectors Association Certification Program (ACA CP) is a certification program that provides collectors with the knowledge and skills necessary to become successful in the field of collecting. The program is designed to provide collectors with the tools and resources necessary to build a successful collection, as well as the confidence to make informed decisions about their collections.

The ACA CP consists of four levels: Level 1 - Introduction to Collecting; Level 2 - Advanced Collecting; Level 3 - Expert Collecting; and Level 4 - Professional Collecting. Each level requires completion of a series of courses, exams, and assessments.

It typically takes between 6-12 months to complete all four levels of the ACA CP. To get started, you must first register for the program and pay an initial fee that covers all four levels. After registering, you will receive an email with instructions on how to access your course materials and begin studying for your exams.

The cost of the ACA CP varies depending on which level you are enrolling in. The cost for Levels 1-3 is $299 each, while Level 4 is $399. In addition to these fees, there may be additional costs associated with taking certain exams or assessments required for each level.

10. National Association of Retail Collection Attorneys Certification Program (NARCA CP).

The National Association of Retail Collection Attorneys Certification Program (NARCA CP) is a certification program that recognizes attorneys who specialize in the field of retail collection law. The program was created to provide an additional level of assurance to consumers and creditors that their legal representatives have the necessary knowledge and experience to effectively represent them in collection matters.

The NARCA CP certification requires applicants to demonstrate proficiency in areas such as consumer protection laws, debt collection practices, bankruptcy laws, and other related topics. To be eligible for the certification, applicants must have at least five years of experience practicing retail collection law. They must also pass an exam administered by NARCA that covers all aspects of retail collection law.

In order to obtain the NARCA CP certification, applicants must complete an application form and submit it along with supporting documentation such as proof of experience and education. Once the application is approved, applicants can take the exam which typically takes two hours to complete. After passing the exam, applicants will receive their certification from NARCA.

The cost for obtaining the NARCA CP certification varies depending on whether or not you are a member of NARCA. Non-members pay $500 while members pay $250 for the application fee plus a $100 exam fee.

Do You Really Need a Collection Manager Certificate?

A Collection Manager Certificate can be a great asset for anyone looking to pursue a career in collections. It shows potential employers that you have the knowledge and skills necessary to manage a collection, which can help you stand out from other applicants. However, it is important to consider whether or not you really need this certificate before investing your time and money in obtaining one.

If you are already working in collections and have some experience, a Collection Manager Certificate may not be necessary. Employers may be more impressed with your existing experience than with any additional certification that you could obtain. On the other hand, if you are just starting out in the field of collections, then obtaining a certificate could prove beneficial. It will demonstrate to potential employers that you have taken the initiative to learn about the profession and are committed to developing your knowledge and skills further.

Another factor to consider is whether or not the cost of obtaining a Collection Manager Certificate is worth it for you. Depending on where you receive your training and what type of program it is, there could be significant costs associated with getting certified. You should weigh these costs against any potential benefit that certification might bring when making your decision.

Ultimately, deciding whether or not to get a Collection Manager Certificate is an individual decision that should be based on your own personal goals and circumstances. If you think it will help advance your career in collections, then it may be worth pursuing; however, if you already have considerable experience in this field then it may not be necessary for you at this time.

Related: Collection Manager Resume Examples

FAQs About Collection Manager Certifications

1. What types of certifications are available for Collection Managers?

Answer: The four main certification types available for Collection Managers are Certified Credit & Collection Compliance Officer (CCCO), Certified Receivables Professional (CRP), Professional Collectors Association (PCA) Certified, and International Association of Commercial Collectors (IACC) Certified.

2. How do I become certified as a Collection Manager?

Answer: To become certified as a Collection Manager, you must meet the requirements of the certification type you are pursuing and pass an exam that covers topics related to collections management. You may also need to complete additional coursework or training in order to qualify for certain certifications.

3. What is the cost of becoming certified as a Collection Manager?

Answer: The cost of becoming certified varies depending on the certification type and provider. Generally, fees range from $150–$400 per certification type.

4. How long does it take to become certified as a Collection Manager?

Answer: The time it takes to become certified as a Collection Manager depends on the individual and the certification type they are pursuing. Generally, most people can complete their certification within 6 months if they dedicate enough time to studying and preparing for the exam.

5. Are there any continuing education requirements after I become certified?

Answer: Yes, many certifying organizations require that their members complete continuing education units (CEUs) in order to maintain their certifications. CEUs may include online courses, seminars, webinars, or other educational activities related to collections management and compliance issues.