SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Further Education and Training Certificate: Credit Management 
SAQA QUAL ID QUALIFICATION TITLE
57901  Further Education and Training Certificate: Credit Management 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
FASSET - Financial and Accounting Services SETA  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Further Ed and Training Cert  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  164  Level 4  NQF Level 04  Regular-Unit Stds Based 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  SAQA 06120/18  2018-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

A learner assessed as competent against this qualification, will be able to assume responsibility for Credit Management at a junior management level in a variety of organisations in any business sector. The qualification will suit the following people:
  • Credit controllers.
  • Credit administrators.
  • Credit control supervisors.
  • Credit managers.

    The qualification is a step in the learning pathway that underpins a career in the Credit Management arena and ameliorates the progression for a career path within an organization. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate confidently in Credit Management positions not only in the South African context of the credit arena but also to respond to the challenges of the changing work environment globally.

    The qualification provides a framework for the application of the guiding principles of Credit Management in the working environment of credit controllers, supervisors, managers and directors of Credit Management functions.

    The range of typical learners that will enter this qualification will vary and includes:
  • School leavers wishing to enter the credit industry.
  • Learners from different specializations and of different levels of practical experience in Credit Management, wishing to consolidate their education.

    Rationale:

    In the social and economic development of South Africa the role of credit and Credit Management are becoming critical. With the introduction of the Credit Act there is an increased awareness amongst consumers regarding their rights and obligations. There is requirement to equip staff operating in the various aspects of Credit Management with the knowledge and skills to carry out their responsibilities in terms of the act. Additionally, the Credit Management staff requires the values and attitudes to perform their duty to manage credit extension in line with the objectives set out in the act. The Credit Management sector is highly regulated and the consequences of non-compliance for the industry are substantial in terms of both financial and reputation risk.

    The role of the credit manager is becoming crucial. Financial and trading firms need to have resources of qualified people (credit controllers, supervisors, managers and directors), skilled in the planning, directing, organizing and control of the sector and able to set and maintain good standards in the development of credit management.

    The Institute for Credit Management identified the need for the comprehensive education, training and development of future professionals in Credit Management and defined the qualification in Credit Management as suitable solution.

    This qualification forms a generic basis for further learning. Learners will be provided with the necessary skills to choose different options as career paths, such as specialising at higher levels in Trade, Retail, Third party collection, Banking and Export. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that a learner entering a programme leading to this qualification has achieved:
  • Communication at NQF Level 3.
  • Mathematical Literacy at NQF Level 3.
  • Accounting at NQF Level 3.

    Recognition of Prior Learning:

    The qualification can be achieved wholly or in part through recognition of prior learning in terms of the defined Exit Level Outcomes and/or individual Unit Standards.

    Evidence can be presented in variety of ways, including international and/or previous local qualifications, products, reports, testimonials, work records, portfolios and performance records.

    All this evidence will be judged in accordance with the general principles of assessment and the requirements for integrated assessment.

    Access to the Qualification:

    Access to the qualification is open keeping in mind the "learning assumed to be in place". 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    The Qualification consists of a Fundamental, a Core and an Elective Component.

    To be awarded the Qualification, learners are required to obtain a minimum of 164 credits as detailed below.

    Fundamental Component:

    The Fundamental Component consists of Unit Standards in:
  • Mathematical Literacy at Level 4 to the value of 16 credits.
  • Communication at Level 4 in a First South African Language to the value of 20 credits.
  • Communication in a Second South African Language at Level 3 to the value of 20 credits.

    It is compulsory therefore for learners to do Communication in two different South African languages, one at Level 4 and the other at Level 3.

    All Unit Standards in the Fundamental Component are compulsory.

    Core Component:

    The Core Component consists of Unit Standards to the value of 94 credits all of which are compulsory.

    Elective Component:

    The Elective Component consists of Unit Standards to the value of 28 credits. Learners are to choose Unit Standards to the minimum of 14 credits. 

  • EXIT LEVEL OUTCOMES 
    1. Direct the day to day activities of a Credit Management department.
    2. Create and maintain sound client and sales relations.
    3. Research macro economic marketing trends and their micro economic implications.
    4. Assess, manage and collect a debtor's book.
    5. Conform to credit legislation.
    6. Manage risk and profitability as it relates to Credit Management. 

    ASSOCIATED ASSESSMENT CRITERIA 
    1.
  • Own staff is trained, coached and counselled as to achieving organisational objectives.
  • The objectives of the credit department are reported to senior management and staff.
  • Credit sales transactions are administered according to company requirements.

    2.
  • Communicate verbally and in writing in a wide variety of contexts, in accordance with legislation and standard procedures.
  • Customer service is provided in line with organisational customer service standards.
  • Communicate to senior management as well as internal and external clients.
  • A Credit Management function is provided to internal customers.
  • Ethical conduct requirements are understood and adhered to in own work environment.

    3.
  • Credit worthiness of debtors is researched and presented to managers.
  • The principles upon which financial packages have been designed are understood and explained with examples.
  • Relevant information systems in the business environment are planed, monitored and controlled.

    4.
  • Basic financial statements are interpreted according to company requirements.
  • Approved credit lines are established.
  • Debt rescheduling problems are solved.
  • Defaulting customer accounts are addressed and bad debts controlled according to organisational requirements.

    5.
  • Legal administrative processes are applied and managed at all times.
  • A Credit Management function is performed within the stipulations of the relevant legislation.

    6.
  • The basics of security for finance are understood and applied consistently.
  • Credit is monitored according to organisational requirements.
  • The quality of debtor administration is evaluated with a view to improvement of existing system.
  • Debt collecting accounts are assessed and allocated according to risk profile.
  • Defaulting customer accounts are minimised through the application of recognised procedures.
  • A claim in credit risk insurance is processed according to organisational procedures.

    Integrated Assessment:

    Because assessment practices must be open, transparent, fair, valid and reliable, it must ensure that no learner is disadvantaged in any way whatsoever, as an integrated assessment approach is incorporated into the Qualification.

    A variety of methods must be used in assessment and tools and activities must be appropriate to the context in which the learner is working. Where it is not possible to assess the learner in the workplace or on- the- job, simulations, case studies, role-plays and other similar techniques should be used to provide a context appropriate to the assessment.

    The term "Integrated Assessment" implies that theoretical and practical components should be assessed together. During integrated assessments the assessor should make use of formative and summative assessment methods and assess combination of practical, applied, foundational and reflective competencies.

    Assessment should ensure that all specific outcomes and critical cross-field outcomes are evaluated. The assessment of the critical cross-field outcomes should be integrated with the assessment of specific outcomes and embedded knowledge. 

  • INTERNATIONAL COMPARABILITY 
    This qualification has been compared for best practice to equivalent qualifications in the United Kingdom and in Australia. These countries were chosen because their systems correspond to the banking focus, financial and credit traditions, principles and systems used in South Africa.

    The Australian Credit Management qualifications are offered in the following programmes:
  • Certificate III in Financial Services (two day programme focusing on debt collection.).
  • Certificate IV in Financial Services covers Credit Applications and Minimization of Risk; Facilitating Legal Compliance; Manage and Recover Errant Debts; Developing the Workplace.
  • Diploma of Financial Services covers the following components:
    > Manage Legal Compliance.
    > Personal and Corporate Insolvency.
    > Risk Analysis to Manage Credit Policy.
    > Electives: Quality Customer Service; Managing People; Managing Change; Intro to Factoring and Discounting; Consumer Credit.
  • Graduate Diploma of Financial Services.

    The United Kingdom ICM Level 3 Certificate in Credit Management is a specialized vocational qualification for credit controllers and supervisors. The following are the compulsory units:
  • Introductory Credit Management.
  • Accounting.
  • Business Law.
  • Business Environment.

    The qualification above is pitched at the same level as the FETC: Credit Management.

    The Certificate IV and aspects of the Diploma of Financial Services compares well with our South African qualification and it is considered to be a good benchmark.

    Conclusion

    The FETC: Credit Management compares favourably with the relevant equivalent qualifications overseas and will contribute to the promotion of high standards in the Credit Management field in South Africa. 

  • ARTICULATION OPTIONS 
    Horizontal Articulation:

    This qualification articulates horizontally with the following qualifications:
  • ID 49021: Further Education and Training Certificate: Debt Recovery, NQF Level 4.
  • ID 57712: Further Education and Training Certificate: Generic Management, NQF Level 4.
  • ID 23953: Further Education and Training Certificate: New Venture Creation, NQF Level 4.

    Vertical Articulation:

    The Further Education and Training Certificate: Credit Management articulates vertically with:
  • B Com.
  • B Tech: Credit Management. 

  • MODERATION OPTIONS 
    This qualification will be assessed by an assessor and moderated by a moderator registered with the relevant ETQA. Training providers must be accredited by the relevant ETQA. Assessors should:
  • Have a minimum of two years practical experience as a credit manager.
  • Be registered as an assessor with the relevant ETQA.
  • Have a qualification in Financial Management at least at NQF level 5. 

  • CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2012; 2015. 

    NOTES 
    N/A 

    UNIT STANDARDS: 
      ID UNIT STANDARD TITLE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
    Core  117422  Administer credit sales transactions  Level 3  NQF Level 03 
    Core  13933  Plan, monitor and control an information system in a business environment  Level 3  NQF Level 03 
    Core  118044  Address defaulting customer accounts and control bad debts  Level 4  NQF Level 04  10 
    Core  116610  Assess and allocate debt collecting accounts according to risk profile  Level 4  NQF Level 04 
    Core  116598  Compile debtor correspondence in accordance with legislation and standard procedures  Level 4  NQF Level 04 
    Core  116608  Demonstrate knowledge and application of ethical conduct in a debt recovery work context  Level 4  NQF Level 04 
    Core  13416  Demonstrate knowledge and understanding of the basics of security for finance  Level 4  NQF Level 04 
    Core  12739  Evaluate the quality of a business` debtor administration  Level 4  NQF Level 04  16 
    Core  117156  Interpret basic financial statements  Level 4  NQF Level 04 
    Core  116599  Manage debtor portfolio  Level 4  NQF Level 04 
    Core  242670  Mitigate a potential loss and process a claim in trade credit insurance.  Level 4  NQF Level 04 
    Core  118039  Promote and control credit  Level 4  NQF Level 04 
    Core  12759  Provide after-sales customer service in an Asset Based Financing environment  Level 4  NQF Level 04 
    Core  118042  Supervise credit procedures  Level 4  NQF Level 04 
    Fundamental  119472  Accommodate audience and context needs in oral/signed communication  Level 3  NQF Level 03 
    Fundamental  119457  Interpret and use information from texts  Level 3  NQF Level 03 
    Fundamental  119467  Use language and communication in occupational learning programmes  Level 3  NQF Level 03 
    Fundamental  119465  Write/present/sign texts for a range of communicative contexts  Level 3  NQF Level 03 
    Fundamental  9015  Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems  Level 4  NQF Level 04 
    Fundamental  119462  Engage in sustained oral/signed communication and evaluate spoken/signed texts  Level 4  NQF Level 04 
    Fundamental  119469  Read/view, analyse and respond to a variety of texts  Level 4  NQF Level 04 
    Fundamental  9016  Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts  Level 4  NQF Level 04 
    Fundamental  7468  Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues  Level 4  NQF Level 04 
    Fundamental  12153  Use the writing process to compose texts required in the business environment  Level 4  NQF Level 04 
    Fundamental  119459  Write/present/sign for a wide range of contexts  Level 4  NQF Level 04 
    Elective  11253  Administer foreign exchange receipt and payment systems in an international trading company  Level 4  NQF Level 04 
    Elective  243122  Apply the legal requirements related to Credit Management  Level 4  NQF Level 04 
    Elective  13398  Demonstrate an understanding of the concepts and conventions of the foreign exchange market  Level 4  NQF Level 04  10 
    Elective  12743  Demonstrate knowledge and understanding of a factoring agreement  Level 4  NQF Level 04 
    Elective  14990  Explain international credit risk insurance  Level 4  NQF Level 04 


    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. PBS College (Pty) Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.