Focus on Members
Message from the President and Dean
October 9, 2008
A few months have passed since taking over the reins from Rodger Noel A.C.I. and I am just starting to look around to see how I can keep his momentum going. I must say that the staff at the CIC makes my job a whole lot easier. We have a solid core of individuals working at head office.
Graduation season is upon us, I look forward to meeting with as many new graduates as possible, while it is not possible for me to attend all events, Reggie and Peter Finlay CCP 1st vice president will also do their best to make the rounds. This year’s graduates will be the 80th graduating class.
As we look into the future I see the role of the credit manager becoming increasingly important. The free flow of goods, services and capital are cornerstone of our economy. Without this free flow, such as in the financial sector currently, we see a situation where there is congestion in the flow of capital, financial institutions in some countries are not able to provide working capital and loans to both companies and individuals due to failure to maintaining prescribed leverage, contributing to the turmoil of the financial markets where banks are often even reluctant to lend to other banks in fear that the loans will not be repaid. This inevitably brings with it a negative impact on the economy since everyone needs to scale back to survive. Businesses are unable to borrow in order to invest in such things as plant and equipment; consumers are unable to replace their old inefficient car with a new efficient one. In business-to-business credit, CCP’s are the gatekeepers of the free flow of goods and services. The importance of their role cannot be overstated.
I cannot help but think that if all credit grantors and their management had a formal education in credit, (from the Institute, of course) and followed the responsible practices they were taught, this sub-prime mess would be a mere article in the back page just before the comics. Instead we see some of the largest institutions becoming extinct overnight. I say, we need to give credit where credit is due. In this case, we can “credit” poor credit granting for the huge mess we now find ourselves in. Do you still think the importance of good credit management can be overstated?
Steve Cooke, A.C.I.
Members on the Move
Doug Furchner, previously with Pricewaterhouse Cooper, accepted a position as Credit & Collection Manager with Ceva Logistics.
Paula Thorpe, ACI, previously with Deluxe Toronto, accepted a position as Credit Manager with Arclin Canada Ltd.
Deborah Latan, CCP, previously with GE Canada, accepted a position as Credit Manager with Renin Corp.
Angela Nirta, CCP, previously with Hensall District Co-Operative, accepted a position as Ontario Credit Manager with Masterfeeds Inc.
Angela Gioia, previously with Carlisle Canada, accepted a position as Credit & Collection Coordinator with Aga-Heartland.
Madeleine Fequière, CCP, previously with Abitibi Consolidated Inc., accepted a position as Credit Manager chez Domtar.
Terry Hopper, CCP, previously with Mark Supply Inc., accepted a position as Credit Manager with Guillevin International.