‘Eureka’ moments that shape professional growth 

Earning a professional certification opens a new world of understanding in the field of business credit. Whether it’s your first designation or one of many, each new accreditation expands your knowledge of credit management and reflects a dedication to bettering yourself within the profession. For Philip Allen, CBA, CCRA, assistant credit manager at Guttman Energy (Pittsburgh, PA), earning his Certified Credit and Risk Analyst (CCRA) was an opportunity to improve his analytical skills and apply them in a field he is passionate about.  

Allen decided to pursue his CCRA designation to help him more deeply analyze the financial statements he sees every day working in credit. “I didn’t fully understand how the profit and margin ratios told a company’s story,” Allen said. “Working as an assistant credit manager, I found that it was imperative that I obtained that deeper degree of understanding.” 

Financial statement analysis is a key part of the credit approval process, with a prospective customer’s creditworthiness hinging on the documents. Having an in-depth understanding of how to read and analyze financial statements is crucial to avoiding risk at every turn. Pursuing additional education in the area can help credit managers protect their companies from major losses.  

“I learned that financial statements shouldn’t be considered separate documents, but documents that coordinate with each other,” Allen said. “I learned the ROE evaluation method, which after testing, I’d found to be priceless. It causes far more work efficiency. I found that once I’m given beneficial information, I get excited about implementing it into real life circumstances.” 

For Allen, one of the best parts of earning the designation was connecting what he was learning to his day-to-day work. “I had eureka moments throughout the courses,” Allen said. “When the information clicked and directly related to what I was dealing with at work, I couldn’t help but smile and get excited about the material that I was learning.” 

Earning a professional certification not only deepened Allen’s understanding of the subject but instilled a newfound confidence when approaching complex credit problems.  

✏️ Study tip: “As an avid note taker, I’d always encourage the student to write down what the instructor says is important,” Allen said. “Side notes can serve as excellent reminders when reviewing your notes. Also, breathe. Give yourself grace while studying. You got this!”