iccp iccp Programme www.aicd.global Architected by the Association of International Credit Directors (AICD) in conjunction with The Open University 1
iccp These are the critical questions that will help you to prepare yourself for the exciting journey you are about to undertake. Is this the right programme for me? How does AICD fit in the picture? What eligibility criteria must I satisfy? What do I need to do to complete the programme? What decisions must I make about elective subjects? What time commitments are expected of me? What arrangements do I need to make to ensure I am fully prepared to complete the programme? Who do I call when I require support? How much does it cost? To answer these questions you first need to understand why you are interested in the programme, how to gauge your level of fit to the career this programme prepares you for, and your level of commitment to being challenged to excel through a comprehensive programme that combines AICD and The Open University learning solutions. 2
iccp Overview There are many diverse education and training programmes available in the field of Credit Management. Few of these extend fully to include an and even less so that are geared to preparing a Credit Professional Executive of the calibre that is required in today s international business world. Nationally and internationally many executives have emerged in the field of Credit Management, most through a variety of personal as well as professional development programmes, and primarily through ambition and an inbuilt capability to hold executive positions in organisations where they command significant influence. The evolution of the Association of International Credit Directors (AICD) is the result of many existing senior executives coming together to create a peer network, unsurpassed in any current professional organisation, with the primary goal of promoting best practice and excellence to existing and emerging executives, in order to increase the numbers and profiles of dynamic Credit Professional executives and leaders. AICD, as part of its strategy to enhance the careers of Credit Professionals worldwide embarked on two important and related activities (1) Identifying the DNA of credit executives to identify the traits and characteristics needed to succeed and (2) Devising a programme that builds on that DNA to enhance the career progression of future executives. The strategic decision to promote the programme as a career development facility for senior credit professional executives is not a theoretical one, but is based solidly on the wealth of experience at its disposal from its members, who are all experienced senior executives in the world of credit management, all compliant with the DNA methodology, many of whom created their careers through innovative use of their credit management knowledge coupled with strong personal ambitions to progress through the management chain to senior positions. The results are obvious, people with extensive business knowledge, credit management capability, innovative and progressive, and holding senior executive positions in corporations, national and international, and contributing significantly to the successes of their organisations. Replicating their personal success to expand the credit profession has a significant impact on many current and future businesses who understand the significance of the roles these executives hold. It is that replication challenge that AICD and the Open University collaboration addresses. courses are geared to prepare students for senior management roles in business and the typical method is to expose students to a broad area of business including accounting, finance, marketing, and human resources. Ideally the is interdisciplinary building on attitudes and behaviours and incorporating elements of economics, accounting, finance, psychology and sociology. 3
iccp In a rapidly changing world, sometimes a criticism of the suggests that the organisations that provide them are slow in evolving to keep pace with the dynamic business world. AICD adopted the approach that an established from an eminent organisation is essential and that the challenges of the dynamic business world can be coupled with that to form the ultimate executive programme that (1) delivers the benefits of the to foster executive capability, (2) incorporates the practical experiences of a significant pool of executives in a value-add way, (3) combines the and the practical experiences into a comprehensive programme and (4) accelerates the return on investment through the practical applications of techniques that can have immediate impact on business while the programme progresses. This model of Expert Mentoring, on this scale, is unique in offerings available today. The solution you are about to embark on is the perfect combination of 1. from the Open University, triple accredited, and internationally recognised, and renowned for the quality of its programmes. 2. ICD Dynamics from AICD, expert mentoring presented in a comprehensive way using industry leaders 3. Scheduled activities from both and Dynamics running in parallel providing complementary benefits 4. Extended support networks from The Open University and the AICD Academy to smooth your journey. You and AICD AICD is an organisation created to promote the roles and profiles of International credit executives, both current and emerging. If your goals include being a senior Credit Professional operating at executive level, you will be interested in AICD, and AICD is interested in you. Membership is free, you are welcome as our guest. ICD Dynamics is free when combined with. Our value proposition to you is compelling: Free membership Access to extensive Peer community Expert mentoring via iccp and ICD Dynamics Your value to us is important You add to our network of senior credit executives You contribute expertise for the benefit of future executives Your experience confirms the DNA is a valid benchmark for companies seeking executives 4
iccp During the programme, AICD will be your active partner and when the programme is complete, will be your lifelong professional network providing access to your peers and keeping you abreast of developments in the exciting world of the Credit Professional. What is ICD Dynamics? Dynamics addresses the challenge of gaining practical experience during the from industry leaders. It consists of 36 modules spread across the three years of the. It bridges the gaps between the world of strategy and significant real-world situations that shape your career through the decisions you make on behalf of your business. Modules are of three types: Information Learning material from your expert mentors providing valuable insight into the practicalities of the Credit Profession at executive level. Action Scenarios and experiences of your mentors in addressing various business issues to understand why and how the decisions they made were important Challenge Learn for yourself scenes set by your expert mentors and inviting you to suggest approaches with valuable feedback to you on the pros and cons of your suggested approach. Combination of and Dynamics Along with the obvious benefits of achieving the, it is accepted that an is a challenge in terms of time commitments, personal dedication, 3 year horizon on completion and fitting all of this into an already challenging work and personal environment. The 3 year timeframe is designed to help spread the load into a manageable set of deliverables. So how does adding ICD Dynamics to the affect the practicalities of fitting it all into your busy schedule? ICD Dynamics is designed to be a minimal additional workload, adding a maximum of 4 hours to your monthly commitment above and beyond the commitments of the itself. This additional effort provides many practical benefits to improve how you conduct your business in general, and is designed to complement the studies you are undertaking as part of the syllabus. Why the Open University Business School? The Open University Business School is triple accredited (AACSB, A and EQUIS). For more than 30 years ambitious executives like you have been realising their potential through The Open University innovative, practice-based courses. Their quality is underpinned by the latest leading-edge research and enriched by a global network of partnerships. 5
iccp Their internationally-recognised teaching and learning methods take education right to the heart of leadership and management practice. Tutors are experienced business professionals, and because their distance learning approach allows managers to continue at work while studying, you can apply new knowledge and skills right from the start. Over 100,000 people from more than 120 countries have already studied with The Open University Business School. Specifics of the programme The begins in May and November each year and is 3 years in duration. The Open University publishes a comprehensive programme outlining all of your activities, milestones, checkpoints and deadlines. Your ICD Dynamics begin in parallel with the activities and the timing during the month for completing the Dynamics is entirely at your own discretion. Both The Open University and the AICD activities are available Online using Internet technologies facilitating your personal and work commitments and travel obligations. The time requirements for both the and Dynamics assume you will be undertaking activities that require a personal commitment that is clearly challenging but has been calculated to be achievable. Many people have completed s, and everyone s challenge is different due to work and personal circumstances, but these programmes already factor this into the programme. Pattern of study The normal pattern of study, based on 12-15 hours/week, is: 6 Year 1: Year 2: Over 12 months stage 1: management: perspectives and practice (600 learning hours). ICD Dynamics 1: 48 hours In the first 6 months Strategy (300 learning hours) ICD Dynamics 2: 24 hours
iccp Year 3: Then in the next 6 months Financial management (150 learning hours) and ***Elective 1 (150 learning hours) ICD Dynamics 3: 24 hours In the first 6 months ***Elective 2 (150 learning hours) and ***Elective 3 (150 learning hours) ICD Dynamics 4: 24 hours Then in the next 6 months Action-learning based project, Evidence Based Initiative (EBI) (300 learning hours) ICD Dynamics 5: 24 hours *** See below for information on the electives identified for inclusion To gain the qualification, you will need 180 credits over the three years, as follows: 1. Stage 1; 60 credit compulsory module - Management perspectives and practice 2. Stage 2; 120 credits from a. The dynamics of strategy (30 credits), b. Corporate finance (15 credits), c. 45 credit elective modules (15 credits each module) - Entrepreneurship: experience and perspective, Leadership and management in intercultural contexts, Managing financial risk d. Making a difference, the management initiative (30 credits) Electives, do they apply? AICD, in collaboration with the Open University, identified the electives that are best suited to achievement of the for the purposes of a Credit Professional. These electives are 1. Entrepreneurship: experience and perspective 2. Leadership and management in intercultural contexts 3. Managing financial risk So you do not need to make choices, the optimum path has been identified on your behalf. Eligibility criteria We have worked with the Open University to facilitate the entry criteria to the. 7
iccp Valid criteria include: Recognised degree status and/or Combination of experience and credit management education programmes Endorsement from recognised Credit Professional Body Seeding a long term strategy Obviously an is a major undertaking and you do so with the intent of becoming a valuable resource to your company as well as to advance your career. The executives at AICD recognise this situation, having achieved such major milestones themselves in their business endeavours, and the role of AICD combined with the Open University is specifically focused to provide a unique platform to help you launch and manage that career and provide that value to your company. Your relationship with both organisations is critical, not just for the itself, but as a way of forging network opportunities that emerge during the that will ultimately prove to be invaluable during your career. Access to such a strong group of Expert Mentors was a key consideration by the Open University in creating this programme in conjunction with AICD, delivering on the primary challenge of giving additional valuable relevance to the itself for the role it is intended to satisfy for Credit Professionals. How much does it cost? The OU breaks the link between exclusivity and Triple Accredited excellence. Only 1% of business schools globally achieve the accolade of triple accreditation. When compared to other triple accredited Business Schools in the UK the value for money of the OU model is clear. 8
iccp Fees and funding The fee for the OU Stage 1 (completing between two and seven years) for academic year 2015/16 in the UK is 4,726 and for the full programme is approximately between 15,152 and 16,976. Unlike many schools the OU fee includes the cost of books and study materials, accommodation and food at residential schools and tutorials, access to bespoke e-learning environment and project supervision as well as examination fees. The fee does not include any travel costs incurred to and from the residential schools or tutorials. The approximate fee range* for the OU are as follows (as of 2015/16): Region Approximate Fee Range UK 15,152-16,976 Republic of Ireland 17,669-19,599 Other EU 18,412-20,396 Rest of the World Due to market variations, please contact our Open University international team or call +44 (0) 300 303 0266 for advice. *Fees approximation explained: You register and pay for a module at a time. This means that the cost of your will be spread over your years of study. The module prices are updated annually, and hence may vary as you progress in your studies. The prices also vary slightly depending on the modules that you have chosen as module prices do vary. The fees above assume students pass each module without retake costs. 9
iccp Summary Now that you understand what it entails, these are the relevant answers to those critical questions identified at the beginning. Is this the right programme for me? Yes, if your current or planned career is as a Credit Professional at executive level How does AICD fit in the picture? As architects of this special combination programme, AICD provides your expert mentors and your lifelong network of peers What eligibility criteria must I satisfy? Flexible criteria have been agreed with the Open University. Executive DNA matching with AICD occurs as part of your registration with AICD. What do I need to do to complete the programme? You will be completing an with the Open University and an ICD Dynamics programme with AICD, both running in parallel. Your is recognised in its own right internationally via the Open University accreditation. Your Dynamics provide unique dynamic business impact to augment your. What decisions must I make about elective subjects? None, these have already been agreed in the path. What time commitments are expected of me? 12 to 15 hours weekly, see document above for full detail. What arrangements do I need to make to ensure I am fully prepared to complete the programme? Complete your registrations with the Open University and AICD, these registrations ensure all prerequisites are in place. Who do I call when I require support? Both AICD and the Open University provide comprehensive support to you during the programme. Your welcome packs contain all of the necessary details and contact points. How much does it cost? 15,152-16,976 total, payments are spread, paying by module in advance direct to the Open University, see document above for full detail. Your AICD membership, ICD Dynamics and AICD support are free. We are confident that with this full understanding of the iccp programme and its many benefits, that your decision will be to join the world of the Certified Credit Professional Executive together with AICD and the Open University. 10
iccp iccp Programme www.aicd.global Architected by the Association of International Credit Directors (AICD) in conjunction with The Open University 11