Off to the races: Professional certification enhances credit law knowledge 

In an ever-changing field like credit management, continued education is a critical tool to help credit professionals keep up with the evolving risk landscape. For Leila Wolfe, CBF, credit supervisor at Fender Musical Instruments Corporation (Baton Rouge, LA), earning the Credit Business Fellow (CBF) designation deepened her understanding of the legal aspect of credit. 

For Wolfe, earning the CBF designation was an opportunity to expand her understanding of the legal area of business credit to help her avoid potential litigation.  

“As important as accounting and financial analysis is, one could easily argue that having a deep understanding of credit and business law is even more important to us as credit professionals and the organizations we serve,” Wolfe said. “I’m not sure if there is anything more dangerous than a credit professional ignorant of contract laws, antitrust laws and any basic collections laws. It is essential to our job function and will elevate us to those in our field without the knowledge.” 

Wolfe’s journey began with earning her Credit Business Associate (CBA) designation last year. After earning a scholarship from her affiliate, NACM Intermountain, Wolfe pursued her CBF designation.  

“I was awarded the scholarship and was off to the races,” Wolfe said. “That meant more long nights studying to be prepared to take this test, but the support system I have developed within the community of NACM’s credit professionals has been instrumental to my success.” 

The certification journey is not only about learning the ins and outs of business credit but an opportunity to form meaningful connections with peers in the industry. “Between study groups, Quizlet study cards and brain dumps with my peers, NACM provides a community of like-minded individuals that breeds kindness, support and an atmosphere that lifts you up,” Wolfe said.  

In a dynamic field like credit management, a passion for learning is crucial to staying on top of the ever-changing business credit environment. “I learned that I will probably never stop learning,” Wolfe said. “Since our roles are so intertwined with current legislation, we will never be done learning about how it changes our day-to-day and how we are affected. I have learned that I am resilient and that in the face of the desire to better myself professionally, I can juggle family and everyone’s schedules and still succeed.” 

💡Study tip: Flashcards can help organize and memorize concepts while studying. “I would study groups of the flashcards I made until I didn’t miss a card, then move to another group of cards, doing the same thing,” Wolfe said. “It helps to write the cards yourself too as that helps burn the terms into your memory.”