Tag: Leadership

When asked about what they do, credit specialists will typically list their core responsibilities: approving credit, managing collections and assessing risk. But behind these duties, there is a much longer list of skills they develop every day, many of which aren’t reflected in a job description.

No matter what you do for a living, nothing compares to your first day on the job. For the first week or two, your enthusiasm and curiosity are at an all-time high. You’re asking yourself all kinds of questions, like: What will I learn today? Who will I meet? What am I going to do? And who am I going to do it with?

It’s no secret that strong leadership is the key to success, and there’s no better way to build it than by promoting from within. In an effort to remain lean and efficient, credit departments may elevate internal talent into management roles. As organizational promotions have become common, many members find themselves managing former peers while redefining their role and authority.

Imagine you’re a sports coach stepping into a new role at a different school. After just your first week, you quickly realize that some changes need to be made. But as you begin adjusting, the team isn’t responding the way you had hoped—and you find yourself asking, what am I doing wrong?

The credit department’s everyday work touches on every part of a company, from the sales team to the IT department. Naturally, when those inter-departmental bonds are strong, the work in credit can be a lot easier. Cross-training is a valuable tool that helps the credit team develop an understanding of how each department runs.

Credit professionals play a vital role that goes far beyond managing accounts. Their decisions and insights influence cash flow, customer relationships, risk management and cross-departmental collaboration. Credit practitioners touch nearly every aspect of their organization. 

To those outside the industry, business-to-business credit management can appear cut and dry. Bound by a strict financial agreement, a company sells a product or service on credit terms to a company that agrees to make payments until the debt is cleared.

When a credit professional retires or leaves a company, the organization is not just losing a valuable team member—it is often losing unparalleled knowledge and expertise. Transferring what took years to learn requires time, patience and a willingness to share and receive.

This week marks the start of Steve Shivak, CAE, as president of NACM National, succeeding Robin Schauseil. Shivak joins NACM with decades of experience leading national and global professional organizations, most recently serving as the CEO of the International Society of Explosives Engineers.