Top 10 Credit Controller Certifications

Certifications are important for a credit controller in the job market because they demonstrate to employers that the candidate has the skills, knowledge, and experience needed to perform their duties effectively. Certifications provide proof of competency and commitment to staying current with industry standards. They also show potential employers that a candidate has invested in their own career development and is dedicated to delivering results. By having certifications, a credit controller can stand out from other applicants and give themselves an edge when it comes to securing a job.

The purpose of this article is to provide an overview of the various certifications available to credit controllers and to explain how they can help advance their career.

What are Credit Controller Certifications?

Credit controller certification is an industry-recognized credential that demonstrates a high level of competency in the field of credit control. The certification is awarded by professional organizations and can be achieved by taking an exam or completing a certain number of hours of coursework. Credit controllers who have earned their certification are considered to be experts in their field and are often sought after by employers.

Having a credit controller certification can help individuals stand out in the competitive job market, as employers will be more likely to trust someone with this type of recognition. Additionally, certified credit controllers tend to have higher salaries than those without the certification due to their increased knowledge and expertise. They may also be eligible for promotions or other opportunities that would not be available to those without the certificate. Finally, having a credit controller certification can give individuals access to networking opportunities and other resources that can help them further their career goals.

Pro Tip: When looking to become a certified credit controller, it is important to research the different certification programs available and select one that best meets your career goals. Make sure to look at the program's requirements, such as prerequisites and continuing education requirements, before enrolling. Additionally, it can be beneficial to ask colleagues or employers for recommendations on a particular certification program.

Related: What does a Credit Controller do?

Top 10 Credit Controller Certifications

Here’s our list of the best certifications available to Credit Controllers today.

1. Certified Credit Professional (CCP)

Certified Credit Professional (CCP) is a professional designation that is awarded by the National Association of Credit Management (NACM). It is designed to recognize individuals who have demonstrated knowledge and proficiency in the field of credit management.

The CCP program is an online self-study program that consists of four courses: Credit Principles and Practices, Financial Analysis, Business Law, and Risk Management. The program takes approximately 6 months to complete if studying full time; however, it can be completed at your own pace.

To become a Certified Credit Professional, you must first apply for admission to the NACM CCP program. You will need to provide proof of education (high school diploma or equivalent), experience in credit management (at least two years), and references from employers or colleagues. Once accepted into the program, you will need to complete all four courses and pass a comprehensive exam with a score of 75% or higher.

The cost of the CCP program varies depending on whether you are an NACM member or non-member. For NACM members, the cost is $1,250 plus applicable taxes; for non-members, it is $1,450 plus applicable taxes.

2. Certified Credit and Collection Manager (CCCM)

Certified Credit and Collection Manager (CCCM) is a professional certification program designed to provide credit and collection professionals with the knowledge and skills necessary to effectively manage credit and collection operations. The CCCM program is administered by the National Association of Credit Management (NACM).

The CCCM program consists of three levels: Level I, Level II, and Level III. To become certified at any level, applicants must complete an application process that includes passing a written exam.

Level I CCCM requires applicants to have at least two years of experience in the credit and collection industry. It also requires completion of a four-hour written exam. The cost for this certification is $225 USD.

Level II CCCM requires applicants to have at least five years of experience in the credit and collection industry as well as completion of a six-hour written exam. The cost for this certification is $275 USD.

Level III CCCM requires applicants to have at least seven years of experience in the credit and collection industry as well as completion of an eight-hour written exam. The cost for this certification is $325 USD.

It typically takes about two weeks from when you submit your application until you receive your results from NACM, but this can vary depending on how quickly you are able to take the exams and submit your paperwork.

3. Certified Financial Services Auditor (CFSA)

A Certified Financial Services Auditor (CFSA) is an individual who has been certified by the Institute of Internal Auditors (IIA) as having met the requirements for professional practice in financial services auditing. The CFSA certification is designed to recognize individuals who demonstrate a comprehensive knowledge of financial services audit principles, practices, and techniques.

To become a CFSA, individuals must have at least five years of professional experience in financial services auditing or related areas, such as accounting or finance. In addition, they must pass an exam administered by the IIA that tests their knowledge and understanding of financial services audit principles and practices.

The process of becoming a CFSA typically takes three to six months from start to finish. During this time, individuals must complete an application form and submit it to the IIA along with supporting documentation. Once approved, they can register for the exam and begin studying for it.

The cost of becoming a CFSA varies depending on the individual's location and other factors. Generally speaking, however, it can range from $2,000 to $4,000 USD. This includes application fees, exam fees, study materials costs, and any other associated expenses.

4. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification for internal auditors. It is offered by the Institute of Internal Auditors (IIA), which is the world’s largest professional association dedicated to the practice of internal auditing. The CIA designation is recognized as the most prestigious and sought-after certification in the field of internal auditing.

To become a Certified Internal Auditor, you must meet certain educational and experience requirements, pass an examination, and adhere to the IIA's Code of Ethics.

The educational requirements include a bachelor's degree from an accredited college or university, two years of professional experience in internal auditing or related fields, and completion of at least 120 hours of continuing professional education (CPE).

The CIA exam consists of three parts: Part 1 – Internal Audit Basics; Part 2 – Practice of Internal Auditing; and Part 3 – Business Knowledge for Internal Auditing. Each part consists of multiple-choice questions and requires approximately four hours to complete.

It typically takes three to five years to complete all the requirements for earning your CIA certification.

The cost for becoming a Certified Internal Auditor varies depending on how you choose to pursue it. The cost includes registration fees, exam fees, study materials, and other expenses such as travel costs associated with attending courses or conferences related to internal auditing. Generally speaking, it can cost anywhere from $2,000 - $5,000 USD depending on your individual situation.

5. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation for management accountants and financial professionals. It was created by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). The CGMA designation recognizes the expertise and experience of qualified management accountants in areas such as strategic planning, risk management, performance management, corporate finance, and decision-making.

To become a CGMA, individuals must meet certain educational requirements and demonstrate their knowledge through an exam. To be eligible to take the exam, applicants must have at least three years of work experience in accounting or finance roles. They must also have completed one of the following: a bachelor's degree in accounting or finance; a master's degree in accounting or finance; or 150 credit hours from an accredited college or university with 24 semester hours in accounting topics.

The CGMA exam consists of two parts: the Core Exam and the Advanced Exam. The Core Exam covers topics such as financial reporting, cost/managerial accounting, taxation, internal controls, auditing, and business law. The Advanced Exam covers topics such as strategic planning and analysis, risk management and control systems design, corporate finance, performance measurement and decision making.

It typically takes between six months to one year to complete both exams depending on how much time an individual has available to study for them. The cost for taking both exams is approximately $1,500 USD plus any additional fees associated with preparing for them such as purchasing study materials or signing up for review courses.

6. Chartered Institute of Credit Management (CICM)

The Chartered Institute of Credit Management (CICM) is a professional body for credit management professionals. It provides education, training, and qualifications to those in the field of credit management. It also offers a range of services such as networking opportunities, industry news, and access to resources.

It takes around two years to get the CICM qualification. The first step is to become an Associate Member by passing an online assessment. This involves completing four modules on topics such as credit legislation and risk management. Once you have passed this assessment, you can then apply for full membership which requires an additional two-year period of study and work experience.

To get the CICM qualification, you must complete a number of courses and exams including the CICM Level 3 Certificate in Credit Management and the CICM Level 4 Diploma in Professional Credit Management. You will also need to demonstrate your knowledge through written assignments, practical exercises, and presentations.

The cost of getting the CICM qualification varies depending on how many courses you take and how long it takes you to complete them. Typically it costs around £1,000-£2,000 for all the necessary courses and exams required for full membership status.

7. Association of Credit and Collection Professionals (ACA)

The Association of Credit and Collection Professionals (ACA) is a non-profit organization that provides education, certification, advocacy, and compliance resources to credit and collection professionals. It was founded in 1939 to promote the highest standards of ethical conduct in the credit and collection industry.

To become a member of ACA, you must complete an online application form and pay an annual membership fee. The membership fee varies depending on your type of membership. For example, individual memberships start at $125 per year while corporate memberships start at $250 per year.

Once you are a member of ACA, you can take advantage of its various educational resources such as webinars, seminars, conferences and online courses. These courses cover topics such as debt collection laws, ethics in debt collection, risk management strategies and more.

In addition to educational resources, ACA also offers professional certification programs for credit and collections professionals. These certifications include Certified Credit Executive (CCE), Certified Professional Collector (CPC), Certified Receivables Compliance Professional (CRCP) and Certified Collection Agency Manager (CCAM). To obtain one of these certifications, you must meet certain requirements such as having two years of experience in the field or passing an exam. The cost for each certification varies depending on the program chosen but typically ranges from $300-$500 USD.

Overall, becoming a member of ACA is beneficial for any credit or collections professional looking to stay up-to-date with industry trends or earn certifications that will help them advance their career.

8. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification awarded by the Association of Certified Fraud Examiners (ACFE). It is designed to recognize and validate the knowledge, skills, and experience of anti-fraud professionals. CFEs are trained to detect and prevent fraud in organizations, investigate fraud cases, and provide expert testimony in court.

It typically takes three to six months to complete the CFE program, depending on how quickly you can study and prepare for the exam. The program consists of four parts: a self-study course, an online review course, an online practice exam, and a final proctored exam. The cost of the CFE program is $1,095 for members of ACFE or $1,295 for non-members.

9. Certified Risk Professional (CRP)

Certified Risk Professional (CRP) is a professional certification offered by the Global Association of Risk Professionals (GARP). This certification is designed to recognize individuals who have demonstrated knowledge and experience in risk management. It is intended for those who are already working in the field or those who are looking to enter the field.

The CRP certification requires applicants to pass an exam that covers topics such as risk identification, assessment, and measurement; risk management processes; financial instruments and derivatives; enterprise risk management; and regulatory compliance. The exam consists of 200 multiple-choice questions and takes approximately four hours to complete.

In order to be eligible for the CRP exam, applicants must have at least two years of relevant work experience in risk management or a related field. They must also be able to demonstrate knowledge of GARP's Code of Conduct for Risk Professionals.

The cost of taking the CRP exam varies depending on where you take it. In most cases, it costs between $400 and $500 USD. Additionally, there may be additional fees associated with preparing for the exam, such as purchasing study materials or enrolling in preparatory courses.

Once you have passed the exam, you will receive your Certified Risk Professional designation from GARP. This designation is valid for three years before it needs to be renewed through continuing education credits or retaking the exam.

10. International Association of Commercial Collectors (IACC)

The International Association of Commercial Collectors (IACC) is an organization that provides a global network for the commercial collection industry. It was founded in 1994 and has members from more than 40 countries. The IACC is dedicated to promoting ethical, professional, and effective practices within the industry. It also provides education, advocacy, and networking opportunities for its members.

Membership to the IACC is open to all individuals who are employed by a commercial collection agency or are engaged in the business of collecting debts on behalf of third parties. Membership is available in three levels: Professional Member, Associate Member, and Student Member.

It typically takes one to two weeks to process an application for membership. To apply for membership, applicants must submit an application form along with supporting documents such as a resume, references, and proof of employment or engagement in debt collection activities.

The cost of membership varies depending on the level of membership chosen. Professional Members pay an annual fee of $250 USD; Associate Members pay an annual fee of $100 USD; and Student Members pay an annual fee of $50 USD.

Do You Really Need a Credit Controller Certificate?

Whether or not you need a credit controller certificate depends on your career goals and the requirements of the job you're applying for. Generally speaking, most positions in credit control don't require a specific certification, but having one may give you an edge over other applicants.

Having a credit controller certificate demonstrates to employers that you have taken the time to learn the relevant skills and have been trained in best practices. It also shows that you are committed to the profession and are willing to invest in your knowledge and abilities.

In addition to giving you an advantage over other candidates, having a credit controller certificate can open up new opportunities for advancement within the field. With a certification, you may be able to qualify for positions such as senior-level roles or specialized roles related to risk management or compliance.

If you’re considering pursuing a credit controller certificate, it’s important to research different programs and their requirements so that you choose one that fits your needs and budget. Many courses offer online learning options, which can be beneficial if you’re unable to attend classes in person due to location or other commitments.

Overall, whether or not you need a credit controller certificate is up to you and your career goals; however, having one may give you an edge in the job market and open up opportunities for advancement within the field.

Related: Credit Controller Resume Examples

FAQs About Credit Controller Certifications

1. What is a Credit Controller Certification?

Answer: A Credit Controller Certification is a professional qualification that demonstrates knowledge and understanding of the principles and practices of credit control. It is aimed at individuals who work in or are looking to enter the field of credit control, such as those with experience in debt management, accounts receivable and collections.

2. How does one qualify for a Credit Controller Certification?

Answer: To qualify for a Credit Controller Certification, individuals must pass an accredited examination from an approved certification body. The exam covers topics such as financial analysis, risk management, legal aspects of credit control, best practice procedures and communication skills.

3. What are the benefits of having a Credit Controller Certification?

Answer: Having a Credit Controller Certification indicates that an individual has achieved an industry-recognized standard of knowledge and proficiency in their field. This can help to demonstrate competency to employers or potential customers and open up new career opportunities. It may also make it easier to get promoted or increase salary potential within existing roles.

4. How long does it take to get certified?

Answer: The length of time it takes to get certified depends on the individual’s level of experience and dedication to studying for the exam. Generally speaking, it can take anywhere from 3-6 months to prepare for the exam and complete all necessary requirements before taking the test itself.

5. Is there any ongoing training required after certification?

Answer: After obtaining certification, most bodies require professionals to complete continuing education credits on an annual basis in order to maintain their status as certified credit controllers. This is done by attending seminars or workshops related to credit control topics or participating in online learning programs