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Credit Control and Risk Management - QLS Level 4 Course

Course Format:Paper Based Materials (With Optional Online Course Notes)
Self-Study Time:Approximately 120 Hours (Self-Study)
Delivery Time:1-2 Working Days (Courier Service)
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Course Description

The Credit Control and Risk Management - QLS Level 4 Course is designed to highlight the problems brought on by individuals being in debt and how this can affect almost every area of a person’s life, for example; their health, relationships, job, lifestyle and future prospects. The extent to which the debt impacts on people will depend on how serious each person perceives their debt problem to be.

Unfortunately, debt is an issue that many people face nowadays. The current increase in personal debt in the UK has partially been blamed on the "buy now, pay later" philosophy that exists in our society, an attitude that encourages many individuals to maintain their lifestyle with the use of credit and this course covers this in detail.

On successful completion of this course, learners will receive a QLS Level 3 Endorsed Certificate of Achievement from the Quality Licence Scheme.

The Credit Control and Risk Management - QLS Level 4 Course includes the following units:

The following topics are covered:

  • When is debt a problem?
  • Causes of personal and business debts
    - Individual personal circumstances that can lead to debt
    - Economic factors that can lead to debt
    - Circumstances that can lead to business debt
    - Other factors that can lead to debt
  • Types of borrowing
  • Creditor’s rights
  • Non-court actions available to creditors
  • Collecting debt through the court
  • Enforcing the Judgement
  • How long can a creditor pursue a debt for?

The following topics are covered:

  • What is customer credit?
    - Benefits of offering customer credit
    - Risks of offering customer credit
  • Common regulated consumer credit activities
  • Acquiring consumer credit authorisation from the Financial Conduct Authority (FCA)
    - Preparing an application for FCA authorisation
    - FCA rules that must be followed
    - Business to Business Lending Regulation UK
  • The business’s credit policy
  • Customer credit agreement
  • Implementing good credit control procedures

The following topics are covered:

  • What is credit risk?
  • Types of credit risk
  • What is credit risk analysis?
    - Types of information used when analysing credit risk
  • Methods used to analyse credit risk
  • Checking an individual customer’s likely ability to pay back debt
    - Credit reference agencies
    - Credit reports
    - Credit check results
    - How credit scores are used
    - FICO Scores
  • Checking a business customer’s likely ability to pay back debt
    - Doing more research
    - Obtaining bank references
    - Contacting other suppliers
    - Asking for supplier references
    - Adopting the pro-forma approach
    - Checking published accounts
    - Obtaining a credit report from a credit bureau
    - The “5 cs of credit.
    - What to look out for when credit checking business customers
  • Credit risk modelling
    - Types of credit risk models
  • Mitigating credit risk
    - Applying restrictions to the credit agreement
    - Diversifying
    - Credit insurance and derivatives
    - Knowing when to end a business relationship

The following topics are covered:

  • What is factoring?
  • The key parties involved in factoring
  • The factoring process
  • Characteristics of factoring
  • What is invoice discounting?
  • The differences between factoring and invoice discounting
  • Different types of factoring and invoice discounting
  • Using factoring as a means to reduce risk
  • Using invoice discounting as a means to reduce risk
  • Disadvantages of factoring
  • Charges and payments associated with factoring

The following topics are covered:

  • Determining the debtor’s position
  • Using a flexible, fair and realistic approach to collection
  • Options available to a customer who has debts
    - Tackling secondary debts
    - Loan consolidation
    - Debt Management Company
    - An Administration Order
    - Individual Voluntary Arrangement (IVA)
  • Starting the collection process
  • Negotiating a payment plan
  • Recording details of the payment agreement
  • Further debt recovery actions
  • Skills required when negotiating and collecting debts

The following topics are covered:

  • The manager’s Role - Personal skills
    - Setting objectives
    - Planning
    - Decision making
    - Delegating
    - Motivating
    - Organising
    - Time management
  • Managing People
    - Recruitment
    - Reviewing progress
    - Development
    - Team working
    - Building an effective credit control team
  • Managing Information
    - Collecting information
    - Organising information
    - Communicating information
  • Managing Finance
    - Cost analysis and control
    - Financial information
    - The balance sheet
    - The profit and loss account
    - The cash flow statement
    - Budgeting
Prerequisites

As this is a Level 4 course, learners should have previously studied to a Level 3 standard or equivalentA good level of literacy is also a requirement if the extended assignment work is to be completed successfully.

Course Duration & Online Support

You can start this course at any time, and you would be registered for a one-year period. You also have access to a personal tutor who can be contacted by email. Your tutor is available to assist with any queries and to mark your assignments for the Awarding Body.

As the course is self-study, you can complete it as quickly as you like. Support extensions are available if students do not complete the course within the one-year period.

Course Format & Delivery

This course is supplied as hard copy paper-based materials. You will receive an A4 ring bound course folder which will include all of your course notes and assignments and there is a separate study guide which should be read before starting the course and explains about support, the required format of assignments and how to submit assignments for assessment. We find this format works well for this particular course as you don't have to be on a computer to work through the notes and you get to keep the course materials after you have completed your study if you need to refer back to them.

We do also offer the option of an online version of the course notes which can be purchased for an additional £36.00 for learners who prefer computer-based learning or are travelling and need access to their course notes. This option is available at the checkout when ordering the course.

The hard-copy course materials are dispatched using a next working day courier service where available and the online course notes are usually issued within 24 hours of processing an application.

If learners would prefer an online only version of the course notes then please contact us for information on how to order this.

Assessment

You will be assessed on TMAs (Tutor Marked Assignments). Most TMAs consists of short paragraph answers, although some TMAs may have a specific word count. The main criteria to pass as assignment is to prove to the tutor that you have fully understood the question and have answered it sufficiently.

If the assignment is not of the required level or needs an amendment it will be detailed in your tutor feedback so you can make any required changes. The course tutor will be happy to give guidance as to how you might improve you answers. Your work can be sent back to your course tutor by email or by post.

QLS Endorsed Certification

At the end of this course, successful learners will receive a QLS Level 4 Endorsed Certificate of Achievement from the Quality Licence Scheme and a Learner Unit Summary (which lists the components the learner has completed as part of the course).

The Quality Licence Scheme is part of the Skills and Education Group, a charitable organisation that unites education and skills-orientated organisations that share similar values and objectives. With more than 100 years of collective experience, the Skills and Education Group’s strategic partnerships create opportunities to inform, influence and represent the wider education and skills sector.

The Skills and Education Group also includes two nationally recognised awarding organisations; Skills and Education Group Awards and Skills and Education Group Access. Through our awarding organisations we have developed a reputation for providing high-quality qualifications and assessments for the education and skills sector. We are committed to helping employers, organisations and learners cultivate the relevant skills for learning, skills for employment, and skills for life.

Our knowledge and experience of working within the awarding sector enables us to work with training providers, through the Quality Licence Scheme, to help them develop high-quality courses and/or training programmes for the non-regulated market.

The course has been endorsed under the Quality Licence Scheme. This means that Kendal Publishing has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification* but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. To this end the learning outcomes of the course have been benchmarked at Level 4 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner. 

The course itself has been designed by Kendal Publishing to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current regulated qualifications. The Quality Licence Scheme endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

You can find more information on level descriptors from our Certification Overview Page.

*Regulated qualification refers to those qualifications that are regulated by Ofqual / CCEA / Qualification Wales

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Credit Control and Risk Management - QLS Level 4 Course
Credit Control and Risk Management - QLS Level 4 Course
£360.00
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