Top 11 Collection Supervisor Certifications
This article provides an overview of the most popular certifications for collection supervisors in the industry.
Published 17 min read
Certifications for a collection supervisor are important in the job market because they demonstrate knowledge and proficiency in the field. Certifications provide proof of education and experience, which can help employers differentiate between qualified candidates. They can also show employers that an individual is up to date on the latest industry trends and regulations related to collections. Additionally, certifications can help individuals stand out from other applicants and make them more attractive to potential employers, as well as give them an edge in salary negotiations.
The purpose of this article is to review the most beneficial certifications for Collection Supervisors and explain how they can help advance their career.
What are Collection Supervisor Certifications?
Collection Supervisor Certification is a program designed to help individuals who are responsible for managing collections teams within their organizations. It is intended to provide participants with the knowledge and skills needed to effectively manage their collections team and ensure that it operates in compliance with applicable laws, regulations, and industry standards. The certification includes training on topics such as best practices for collections operations, legal considerations, managing customer service issues, developing strategies to maximize recoveries and minimize bad debt write-offs, understanding consumer protection laws, developing policies and procedures for collections activities, and more.
The certification can help collection supervisors increase their professional development by providing them with the knowledge needed to develop effective strategies for managing their teams. It also provides employers with assurance that collection supervisors have the necessary expertise to handle a variety of situations related to collections operations. In addition, it serves as a benchmark of excellence in the field of collections management and can be used as a tool when hiring new employees or evaluating current staff members.
Pro Tip: To become a certified collection supervisor, you should consider taking a course in collection management or attending a professional development seminar to learn the necessary skills and knowledge. Additionally, having experience in the field of collections and customer service can help you stand out from the competition when applying for certification.
Top 11 Collection Supervisor Certifications
Here’s our list of the best certifications available to Collection Supervisors today.
1. Certified Collection and Recovery Professional (CCRP)
Certified Collection and Recovery Professional (CCRP) is a professional certification program offered by the International Association of Credit and Collection Professionals (ACA International). This certification is designed to recognize individuals who have demonstrated knowledge and experience in the field of collection and recovery. The CCRP exam covers topics such as legal compliance, ethics, consumer protection, communication skills, collection strategies, negotiation techniques, and dispute resolution.
It typically takes between 6-9 months to complete the CCRP program. To get certified, you must first complete an approved course or training program related to collections and recovery. After completing the required coursework or training program, applicants must then pass a comprehensive exam that covers all aspects of collections and recovery.
The cost for the CCRP certification varies depending on which course or training program you choose to take. Generally speaking, courses range from $500-$2,000 while training programs can cost anywhere from $1,000-$3,000. Additionally, there may be additional fees associated with taking the exam such as registration fees or proctoring fees.
2. Certified Credit and Collection Compliance Officer (C3CO)
A Certified Credit and Collection Compliance Officer (C3CO) is a professional designation that recognizes individuals who have demonstrated expertise in the field of credit and collection compliance. This certification is offered by the National Association of Credit Management (NACM).
To become a C3CO, applicants must meet the following requirements:
- Have at least three years of experience in credit and collection management
- Successfully complete an approved course of study on credit and collection compliance
- Pass a comprehensive examination administered by NACM
- Maintain continuing education requirements
- Abide by NACM’s Code of Professional Ethics.
The course of study for the C3CO certification typically takes between three to six months to complete. The cost for the program varies depending on whether you choose to take it online or attend classes in person. Online courses range from $1,500-$2,000 while attending classes can cost up to $4,000.
3. Certified Credit Executive (CCE)
Certified Credit Executive (CCE) is a professional designation that recognizes credit professionals who have achieved the highest level of expertise in the field. The CCE designation is awarded by the National Association of Credit Management (NACM), and it is recognized as a mark of excellence in the credit profession.
It typically takes two to three years to complete the requirements for earning the CCE designation. To become certified, an individual must demonstrate their knowledge and experience in credit management by completing courses, attending seminars, and passing exams administered by NACM. Additionally, applicants must have at least five years of professional experience in credit management or related fields, with at least three years of managerial experience.
The cost for becoming certified varies depending on your membership status with NACM. For non-members, the total cost for certification is $1,200. This includes registration fees for all required courses and exams as well as any additional materials needed to complete the program. For members of NACM, there are discounts available which can reduce the cost significantly.
To get started on your journey towards becoming a Certified Credit Executive (CCE), you will need to register with NACM and submit an application form along with supporting documents such as transcripts or proof of work experience. Once accepted into the program, you will be able to begin taking courses and preparing for exams. Upon successful completion of all requirements, you will receive your official CCE certificate from NACM.
4. Certified Receivables Professional (CRP)
Certified Receivables Professional (CRP) is a professional certification program provided by the National Association of Credit Management (NACM). It is designed to recognize individuals who have achieved a high level of proficiency in accounts receivable management and credit practices. The CRP designation demonstrates that an individual has met the highest standards in the field of accounts receivable and credit management.
To become certified, individuals must complete an online application and pass an exam that covers topics such as credit risk analysis, financial statement analysis, collection techniques, legal aspects of credit and collections, customer service, and other related topics. The exam consists of multiple-choice questions and takes approximately two hours to complete.
The cost for the CRP program varies depending on whether you are a member or non-member of NACM. For members, the cost is $495; for non-members it is $595. This fee includes access to study materials, practice exams, and the actual exam itself.
Once you have completed all requirements for certification, you will receive your official CRP designation within four to six weeks after passing the exam. You will also receive a certificate suitable for framing as well as a lapel pin indicating your status as a Certified Receivables Professional.
5. Certified Credit and Accounts Receivable Professional (CCARP)
Certified Credit and Accounts Receivable Professional (CCARP) is a professional certification program offered by the National Association of Credit Management (NACM). It is designed to help credit and accounts receivable professionals demonstrate their knowledge, skills, and abilities in the field.
The CCARP program consists of four courses: Introduction to Credit and Accounts Receivable, Credit Risk Management, Accounts Receivable Management, and Collection Strategies. Each course requires a passing score on an exam to complete. The entire program takes approximately six months to complete.
To get the CCARP certification, individuals must first become members of NACM. This can be done online or through a local NACM chapter. Once membership is established, individuals must register for each course and pass the corresponding exams with at least a 70% score.
The cost for the CCARP certification depends on whether you are an NACM member or not. For non-members, the cost is $1,500 per course plus a one-time registration fee of $150. For members, the cost is $1,200 per course plus a one-time registration fee of $100.
6. Certified Debt Collection Manager (CDCM)
Certified Debt Collection Manager (CDCM) is a professional certification program designed to recognize debt collection professionals who have demonstrated the knowledge, skills and abilities necessary to manage debt collection operations. The CDCM certification is awarded by the International Association of Credit and Collection Professionals (IACC), an organization dedicated to advancing the profession of debt collection.
The CDCM program consists of two parts: a comprehensive online training course and an examination. The online training course covers topics such as legal compliance, customer service, collections strategy, data analysis and reporting. It takes approximately 8-10 hours to complete the course and pass the exam.
To obtain the CDCM certification, you must first register with IACC and pay a fee of $295 USD. You will then be able to access the online training course and take the exam when you are ready. After completing both parts successfully, you will receive your CDCM certificate in the mail.
The CDCM certification is valid for three years from date of issue, after which you must renew it by taking an additional exam or completing additional training courses.
7. Certified Financial Services Collections Professional (CFSCP)
The Certified Financial Services Collections Professional (CFSCP) is a professional designation offered by the International Association of Commercial Collectors (IACC). It is designed to recognize those individuals who have demonstrated a high level of knowledge and proficiency in the field of financial services collections.
To obtain the CFSCP designation, applicants must meet certain educational and experience requirements. Applicants must have at least two years of full-time work experience in financial services collections, as well as completion of an approved course in financial services collections from an accredited institution. The course must include topics such as credit management, collection law, and consumer protection laws. In addition, applicants must pass an examination administered by the IACC.
The cost for obtaining the CFSCP designation varies depending on whether you are taking the exam online or in person. The online exam costs $100 plus a $25 processing fee, while the in-person exam costs $200 plus a $50 processing fee.
The amount of time it takes to get your CFSCP designation depends on how quickly you can complete all of the required steps: completing your education requirements, passing the exam, and submitting all necessary paperwork to the IACC. Generally speaking, it can take anywhere from three months to one year to receive your certification.
8. Certified International Credit & Collections Manager (CICCM)
The Certified International Credit & Collections Manager (CICCM) is a professional certification program designed to recognize and validate the knowledge, skills, and abilities of credit and collections professionals. This certification is offered through the International Association of Credit and Collection Professionals (IACC).
The CICCM certification requires applicants to demonstrate their mastery of credit and collections management principles, practices, strategies, and techniques. The CICCM exam covers topics such as risk assessment, credit analysis and decision-making, collection strategies and tactics, legal compliance, customer service excellence, financial statement analysis, dispute resolution, fraud prevention and detection.
To obtain the CICCM certification, individuals must meet certain eligibility requirements including having at least three years of experience in credit or collections management or related field. Applicants must also pass an online exam administered by IACC that consists of 100 multiple choice questions. The exam typically takes two hours to complete.
The cost for the CICCM certification is $350 USD plus applicable taxes. This fee covers the cost of registration for the exam as well as one year of membership with IACC which provides access to additional resources such as webinars and networking events.
9. Association of Credit and Collection Professionals' Accredited Collector Program
The Association of Credit and Collection Professionals’ (ACA) Accredited Collector Program is a certification program designed to recognize the professional achievements of credit and collection professionals. The program was created to provide an industry-wide standard for the recognition of excellence in the field. It is intended to promote ethical practices, professionalism, and adherence to industry standards.
To earn the ACA Accredited Collector designation, applicants must have five years of experience in credit and collections, successfully complete a comprehensive examination, and adhere to a strict code of ethics. The exam consists of multiple-choice questions covering topics such as legal issues, collection techniques, communication skills, customer service, and compliance with regulations and laws.
The program typically takes three months or more to complete. Applicants should expect to spend at least 40 hours studying for the exam. In addition to passing the exam, applicants must also submit proof that they have completed at least 30 hours of continuing education credits within the past two years.
The cost for taking the exam is $250 for members of ACA International or $350 for non-members. The cost includes all study materials and access to online practice exams. Upon successful completion of the exam, there is an additional fee of $50 for processing your application and issuing your certificate.
10. American Collectors Association's Accredited Collector Program
The American Collectors Association (ACA) Accredited Collector Program is a certification program designed to recognize collectors who have achieved a high level of knowledge and experience in the hobby. This certification program is open to both professionals and non-professionals alike.
In order to become an ACA Accredited Collector, individuals must first complete an online application, which includes providing proof of their collecting experience. Once the application is approved, applicants must then pass a written exam that covers topics such as the history of collecting, current trends in the hobby, and best practices for collecting. The exam consists of 100 multiple-choice questions and takes approximately two hours to complete.
Once applicants have passed the written exam, they must then submit three letters of reference from other collectors or industry professionals attesting to their knowledge and expertise in the field. Finally, applicants must pay an annual fee of $50 to maintain their accreditation status.
ACA Accredited Collectors are recognized as having achieved a high level of expertise in the hobby and are eligible for exclusive benefits such as discounts on products and services related to collecting. They also receive access to special events hosted by the ACA and can use their accreditation status as a mark of credibility when dealing with potential buyers or sellers.
11. International Association of Commercial Collectors' Accredited Collector Program
The International Association of Commercial Collectors’ Accredited Collector Program is a professional certification program that provides collectors with the education, training and credentials to become a successful commercial debt collector. The program is designed to help collectors understand the laws and regulations governing debt collection, as well as the ethical standards they must adhere to while collecting debts.
To become an Accredited Collector, applicants must complete an online application and submit appropriate documentation. Once approved, applicants must complete a three-day classroom training course. The course covers topics such as legal compliance, communication strategies and dispute resolution. At the end of the course, applicants are required to pass a written examination in order to receive their certification.
The cost for the Accredited Collector Program is $1,500 USD per person. This includes the online application fee, classroom training fee and exam fee.
Once all requirements have been met, applicants will receive their certification within four weeks of completing the program.
Do You Really Need a Collection Supervisor Certificate?
The short answer is no, you do not need a Collection Supervisor Certificate to work in collections. However, depending on the company and the job you are applying for, having a Collection Supervisor Certificate could be beneficial.
A Collection Supervisor Certificate shows that you have taken the time to gain knowledge and develop skills in a specific area within the collection field. It can also demonstrate that you are committed to your career and willing to invest in yourself by taking additional courses or attending professional development seminars.
Additionally, having a Collection Supervisor Certificate could give you an edge over other candidates for certain positions. A certificate may demonstrate that you have greater knowledge of laws and regulations related to collections and can show employers that you are serious about the profession. It may even help open doors to more advanced roles within the organization.
In conclusion, while it is not necessary to have a Collection Supervisor Certificate to work in collections, it can be beneficial in some cases. If it is something that interests you and would help advance your career, then it is worth considering getting certified.
FAQs About Collection Supervisor Certifications
1. What qualifications are needed to become a Collection Supervisor?
Answer: The qualifications for becoming a Collection Supervisor vary by organization, but typically include a high school diploma or GED, experience in the collections field, and knowledge of relevant laws and regulations. In some cases, certification may also be required.
2. How long does it take to complete a Collection Supervisor Certification?
Answer: The duration of a Collection Supervisor Certification program depends on the specific program chosen. Some programs can be completed in as little as six months while others may require up to two years of study.
3. What is covered in a Collection Supervisor Certification program?
Answer: A typical Collection Supervisor Certification program covers topics such as collections laws and regulations, customer service techniques, debt collection strategies, ethical practices and dispute resolution techniques.
4. Is there an exam required to earn a Collection Supervisor Certification?
Answer: Yes, most certification programs require candidates to pass an exam before they can be certified as a Collection Supervisor.
5. Are there any online courses available for obtaining a Collection Supervisor Certification?
Answer: Yes, there are many online courses available that provide comprehensive training for obtaining a Collection Supervisor Certification.