NACM Member Spotlight: Learning About Global Credit
More and more credit professionals are based in or working with customers overseas. In order to keep up with the pace, credit professionals must expand their knowledge of international trade. Scott Woitas, CBF, CICP, credit manager at Donaldson Company, Inc. (Minneapolis, MN) did just that by earning his CICP designation just last week. "I feel great," Woitas said. "I felt so relieved when I found out that I passed the test. I've always been on the domestic side of things in the U.S. and Canada. But with the companies we've acquired, I'm dealing with a lot more international customers that don't really do credit checks. So, I wanted to make sure they have everything set up appropriately."
One of the most useful topics Woitas learned about during FCIB's International Credit & Risk Management (ICRM) course was country and currency risk. "Governments can set restrictions and not allow you to send money out of the country," Woitas said. "Trying to find ways around that was very helpful in elevating my credit skills. I shared my experience with my boss, who took the CICP years ago, and he was amazed."The last designation he received was the CBF roughly 20 years ago. To better balance his time, he kept a steady pace with the course. The best part for him was getting to interact with some of the students, both U.S.- and international-based. "I wish there was even more of that," he said.