Behind the hire: Qualities that exceed a formal education

Credit management is a complex, multi-faceted career that relies on a host of cross-functional skills. Each day, credit professionals carefully assess unique problems to create solutions that protect their companies from risk without hindering growth. There is no specific path for a budding credit manager, and they can come from a host of different professional backgrounds.  

Why it matters: When it comes to hiring credit managers, there are many different areas of an application to consider, and some qualities can’t simply be gleaned from a resume. It can be hard to know what to look for when hiring a new credit manager because the role requires a strong interdisciplinary skill set, from communications to credit analysis to critical thinking.  

By the numbers: Formal education can be very valuable in the credit field, but it might not always be the most important thing. According to an eNews poll, 65% of respondents found that problem-solving skills outweigh a formal education, followed by communication skills (24%) and professional presence (9%). 

The importance of a formal education has slowly weaned in today’s job market, as many companies seek candidates with rich experience, adaptability and critical thinking. When it comes to credit management, there are a host of abilities that are not taught within a classroom but learned through experience.  

“Whether a candidate did or didn’t go through college, if that person has had the work experience in the core business industry, those same soft skills would have been developed,” Christian Pedersen, CCE, corporate credit manager at Emcor Services Aircond (Syrmna, GA). “While I always look towards the people that have already attained either a certification or a degree, the real factor is the soft skills.” 

The ability to communicate well and carry a professional presence are qualities that are largely developed outside of the classroom. They are important in a field like credit management, where you might often be expected to break bad news to a customer in a manner that won’t damage your relationship.  

“Our clients are usually professional corporations, so I look for candidates who demonstrate a strong executive presence,” Pedersen said. “The people we’re hiring need to be able to speak with people in the finance and accounting areas. They also need to be comfortable speaking with our customer companies where the CEO or the CFO is fielding calls. There must be that sense of professionalism.” 

As a credit manager, you are often the point of contact for customers who are having issues. Having strong communication skills and maintaining a level of professionalism is critical, even when situations are frustrating.  

“We look for people who are willing to push their sleeves up and get to work and help research and resolve issues,” said Staci Cima, CCE, director of credit at Springfield Electric Supply Company (Springfield, IL). “We’re looking for somebody who can communicate very well with customers, both internal and external. We’re looking for somebody with the energy to do it all day then turn around and come in the next day and do it all again.” 

The responsibilities of a credit manager are wide and varied; it is hard to simplify all that working in credit entails in a few short sentences. It can be hard to ensure that a candidate will be a good fit, but you can always look for someone who is hardworking, adaptable and passionate. Passion for analyzing risk and monitoring collections can at times outweigh the importance of a formal degree. 

“Let’s say someone only graduated high school, but they really have a passion for what they were doing in collections, risk management and pursued additional education through a group like NACM,” said Michelle Kelly, CCE, CCRA, CICP, senior credit manager at Mansfield Oil Company of Gainesville, Inc. (Gainesville, GA). “I think that candidate could be a really good fit because they have the desire to seek education, they’re passionate and they’re willing to learn more.” 

Pursuing additional education in the business credit field can show hiring managers that you’re not only passionate about the field but have made an effort to learn more. “When I was looking for a job in order to cash management, it felt nice to say I have my CCE designation,” Cima said. “It shows that I have not just done this job but taken the extra steps to become a professional in this community and a professional in this career.” 

The bottom line: When looking for the right fit for an opening at your company, it’s important to consider the many skills that make up a strong credit manager. Whether it’s their dedication and passion for the field, drive to pursue higher education or the skills they’ve cultivated over various jobs, every candidate is a unique, it’s really a matter of finding the person who best fits your company’s goals.