Credit Management Australia November 2024 Edition

2024 National Conference & Awards Edition

FEATURING:

l Credit Professional of the Year: Flourence Matimati MICM CCE (cover photo)

l 2024 Awards Recipients

l Navigating Today’s Undercurrents with the Right Data

l Industry Focus: Hospitality & Construction Recovery

l Regional Australia Driving Economic Growth

Our 2024 supporters

National partners

Divisional partners

Divisional supporting sponsors

Debbie Leo Hannah Griffiths

Kawalsky

Barrett Hasseldine

Peter Morgan Alex Caruana

ISSN 2207-6549

DIRECTORS

Julie McNamara MICM CCE – Australian President

Lou Caldararo LICM CCE – Victoria/Tasmania & Australian VP

Troy Mulder FICM CCE – Western Australia/Northern Territory

Rob Jackson MICM CCE – South Australia

Theresa Brown MICM CCE – New South Wales

Steven Staatz MICM CCE – Queensland

Daniel Taylor MICM – Co-opted Director

CHIEF EXECUTIVE OFFICER

Nick Pilavidis FICM CCE

Level 3, Suite 303, 1-9 Chandos Street, St Leonards NSW 2065

PO Box 64, St Leonards NSW 1590

Tel: (02) 8317 5085, Fax: (02) 9906 5686

Email: nick@aicm.com.au

PUBLISHER

Nick Pilavidis FICM CCE | Email: nick@aicm.com.au

CONTRIBUTING EDITORS

NSW – Gary Poslinsky MICM

Qld – Emma Purcival MICM CCE

SA – Clare Venema MICM CCE, Maria Scacchitti MICM

WA/NT – Jeremy Coote MICM CCE

Vic/Tas – Alex Hawtin MICM

EDITOR/ADVERTISING

Claire Kasses, General Manager

Tel Direct: 02 9174 5727 or Mob: 0499 975 303

Email: claire@aicm.com.au

EDITING and PRODUCTION

Anthea Vandertouw | Ferncliff Productions

Tel: 0408 290 440 | Email: ferncliff1@bigpond.com

THE EDITOR reserves the right to alter or omit any article or advertisement submitted and requires idemnity from the advertisers and contributors against damages or liabilities that may arise from material published. CREDIT MANAGEMENT IN AUSTRALIA is published by the Australian Institute of Credit Management, Level 3, Suite 303, 1-9 Chandos Street, St Leonards NSW 2065. The views expressed in CREDIT MANAGEMENT IN AUSTRALIA are not necessarily those of Australian Institute of Credit Management, which does not expect or invite any person to act or rely on any statement, opinion or advice contained herein (whether in the form of an advertisement or editorial) and neither the Institute or any of its employees, agents or contributors shall be liable for any opinion contained herein. © The Australian Institute of Credit Management, 2025.

Editor, Level 3, Suite 303, 1-9 Chandos Street, St Leonards NSW 2065 or email: aicm@aicm.com.au

Qld: Maria Tisdell MICM from NCI (Brokers) Pty Ltd speaking at the

Vic/Tas: VIC/TAS YCPA winner Amanda Rothwell Hiscock MICM.

Cheri Bowater MICM CCE and

Melissa Sharpe MICM.

NSW: Celebrating Membership milestones Christopher Hadley MICM, Robert Byrnes MICM, Patrick Coghlan MICM.

SA: 2024 National YCPA winner Hudson Pitt MICM & Janice Riley MICM.

Julie McNamara FICM CCE National President

Hello everyone and welcome to the November edition of the AICM magazine. Thank you to all our National and Divisional partners and sponsors without the support of whom, this would not be possible.

In this edition of our Credit Management in Australia Magazine, we carry the flavour “Evolving for Tomorrow: Crafting the Future Credit Team”. This theme is drawn from the AICM National Conference, which was held in Melbourne 16th -18th October 2024.

In today’s rapidly changing business environment, the need for credit teams to continuously evolve has never been more important.

Lou Caldararo LICM CCE

This November edition is dedicated to guiding credit professionals on their journey towards excellence and innovation. This will serve as a celebration and reflection on the National Conference highlighting key insights, memorable moments and the collective wisdom shared during the event.

As we celebrate the success of another fantastic year of seminars, WINC luncheons and webinars please remember recordings are saved and available on the Member portal and are a great resource to utilise. We are all very excited as we start planning the 10th year anniversary of the WINC initiative in 2025.

Thank you to all our members who have invested in their future and renewed their AICM

AICM Board annoucement

Following the recent AGM, we are pleased to announce the re-election of Julie McNamara FICM CCE as National President and Rob Jackson MICM CCE as Vice President. The Board extends its gratitude to Lou Caldararo FICM CCE, who departs the Board following the completion of his term. Lou has served with dedication since 2018, making significant contributions across various portfolios, including as Vice President and in advancing the CCE program. We thank Lou for his commitment and leadership and look forward to continuing our work under Julie and Rob’s guidance.

from the president

“As we celebrate the success of another fantastic year of seminars, WINC luncheons and webinars please remember recordings are saved and available on the Member portal and are a great resource to utilise.”

membership for FY25. I encourage you all to take full advantage of the many benefits and resources available to us all.

To name a few, we have:

l The AICM Special Interest Groups, SIGs, which are exclusive to members. To date covering such topics as “Customer Engagement & Support” and “Personal & Team Development” I would encourage you all to participate if you have not already done so and support the SIGs to come in 2025.

l Our hugely popular webinars throughout the year with our most recent being the 3rd of the WINC series held on the 23rd of October “Tools for women to achieve balance and fulfillment” professionally and personally featuring our presenter Amber Owen and facilitator Lisa Plag MICM. This webinar delved into the unique challenges women face in maintaining work life balance. It was a very successful webinar and a great way to close off our 2024 series.

l The Credit Nexus Series is about to start, see your state calendars for details on where and when to participate.

l Also, the many learning and training opportunities, Toolboxes, Workshops, qualifications such as Certificate III in Mercantile Agents, Certificate IV in Credit Management and our Diploma of Credit Management.

What an amazing National Conference we just experienced held at The Pullman at the Park in Melbourne! Thank you once again to the Vic/Tas council for hosting.

Yet another amazing three days of learning,

networking and celebrating our industry. What a fantastic range of speakers and panels sharing their insight and experience with us all.

A huge thank you to the Conference Premium Sponsors Equifax, President’s Dinner sponsor Blackline, Welcome Reception Sponsor Opypro and CCE lunch sponsor National Collection Services, together with all our exhibitors who, with their knowledge, expert advice and tools, contribute to the advancement of the credit function.

Congratulations to our award winners:

l 2024 Young Credit Professional of the Year –Hudson Pitt MICM (SA)

l 2024 Credit Professional of the Year –Flourence Matimati MICM CCE (NSW)

l 2024 Credit Team of the Year – Metro Finance

l 2024 CCE Dux – Brigid Nichols MICM CCE (TAS)

l 2024 Student of the Year – Hayley Hawke MICM (NSW)

l Our newly accredited and recertified CCE’s.

l And last but never least the President’s trophy winner, South Australia!

Congratulations to Janice and the SA council for all your hard work and achievements for 2024. Congratulations also to all the states who put in a huge effort! I can’t wait to see all the friendly rivalry leading up to next year!

In finishing, I am excited to confirm, the National Conference for 2025 will be held at the JW Mariott Gold Coast Resort & Spa (Surfers Paradise) from Wednesday 15th to Friday 17th October 2025… Lock it in your calendars and see you there!

Julie McNamara FICM CCE National President

Collaboration technology in the credit sector

Digital technologies have come to the forefront of our lives changing the way we work and educate. It has provided both convenience and comfort to our work/life balance but has also imposed its own set of challenges for the sector.

As with other with other industries, the credit sector has taken new direction, thanks to the emergence of modern technology. Technology already allows you to get an online loan with just a few taps on your mobile device. Companies now have their commercial credit application forms on their web sites for online procedures. This is very different to even a decade ago when options were somewhat limited to getting access to credit.

This is only one scenario that shows that credit has become much more flexible and responsive to all types and needs of customers. Let’s delve into this further.

Digital technologies

The credit industry recognises the importance of digital technologies as a powerful lever to improve their profits, improve regulatory compliance, and transform their customer

experience. The latter imperative has taken on heightened importance in the COVID-19 crisis, as remote and mobile access have shifted from conveniences to necessities for many millions of customers. Going forward, expect digitisation to play an even more central role, as the industry finds innovative ways to serve their customers during and after the crisis.

Digital proficiency involves a range of capabilities including advanced analytics, intelligent process automation, and digitisation. While customer-facing products and touchpoints have become more digitised (e.g., online interactivity with customers and mobile payments), business processes are less so Embedding digital collaboration into business process workflows promises to open up steep improvements in employee productivity, leading to significant value creation for the industry.

Collaboration technology has quickly become a necessity for businesses in every industry. The ability to streamline communication and collaboration efforts between in-house and remote teams provides companies with multiple benefits that equate to greater success. Collaboration technology enables teams to work

together in real-time – despite their locations –to solve problems and perform vital tasks. Let’s examine some of the benefits collaboration tech provides businesses.

Flexibility

In today’s globalised marketplace, both employees and clients demand flexibility. The number of remote workers is on the rise, and with the help of collaboration technology, these remote workers are now able to perform the vital tasks of their jobs from wherever they are. Collaboration technology enables employees to communicate and share ideas whenever – and wherever – their best ideas come to them.

Increased productivity

Increasing employee productivity leads to greater profits and more improved business functions from top to bottom. Collaboration technology – when used correctly – decreases the feeling of isolation among workers and improves employee productivity. Implementing collaboration technology correctly gives employees the tools necessary to feel more engaged with tasks, and increases productivity among both in-house and remote workers. In fact, remote teams using collaboration

technology often outperform co-located teams. How? Collaboration technology provides the backbone for efficient and effective communication, which leads to greater engagement and increased productivity.

Reduces costs

Collaboration technology allows businesses to forgo the expensive of travel by implementing visual communication tools. For example, video conferencing is a great example of the type of collaboration technology that allows companies to cut back on travel costs. Video conferencing allows real-time, face-to-face conversations to take place anywhere.

Competitive edge

Globalisation in the marketplace has led to greater competition, not only for new clients, but also for talent acquisition. Collaboration tech will give companies the edge they need to stay competitive. Recruiting high-talent employees, finding new clients, and retaining existing clients are all made possible with the use of collaboration tech. Collaboration technologies have the ability to make distance disappear and can foster better relationships with business partners.

AICM recent graduates

AICM would like to congratulate its recent graduates:

FNS51522 – Diploma in Credit Management

Rana Berry Queensland General Mills Australia Pty Ltd

Nathan McCormack South Australia Classroom

NOVEMBER 2024

Are you navigating today’s undercurrents with the right data?

By Debbie Leo MICM*

The current economic climate presents a complex picture. While overall confidence is slowly improving, persistent undercurrents of uncertainty necessitate a proactive, datadriven approach to credit risk assessment. Leveraging comprehensive data sources to understand these trends will help credit professionals mitigate risk as adverse rates, mortgage stress, arrears and insolvencies all trend upward in the third quarter of this year.

Undercurrents amidst stability

Overall commercial demand nationwide has remained relatively stable throughout this year, improving by +0.7% yearon-year in Q3 2024. However, in Victoria, a drop in commercial enquiries in the construction, manufacturing and financial

services sector, has led to a -2.0% decline in total commercial demand.

Notable undercurrents include a -6.8% year-on-year decrease in asset finance demand in the third quarter, particularly pronounced across the eastern states. Sales of new commercial vehicles in Q3 2024 have also reduced -0.9% yearon-year1 due to tighter lending conditions and lowering of the instant asset write-off threshold in FY24 by the ATO.

Long-term business loan demand continues to trend downward from levels observed in 2021, while short term business loan demand has improved +4.5% since Q3 2023, led by SA, QLD and NSW. Industries such as financial services (+21%), hospitality (+14%), healthcare (+11%) and retail (+7%) contributed to the short term increase.

Debbie Leo MICM

Source: Equifax Commercial Insights Report, Q3 2024

Source: Equifax Commercial Insights Report, Q3 2024

The long-term trends for trade credit demand have been largely stable, yet Q3 2024 saw a -4.1% reduction compared with the same period the previous year. This was more pronounced in the Eastern states of VIC, QLD and NSW which saw a lowering in trade credit volumes from construction (-5%), wholesale trade (-4%) and hospitality (-3%).

Customer application quality

The average quality of customers in the bureau remains largely stable in Q3 2024 with an average score of 820. Business loan customers have the highest

quality applications, particularly those from the financial services and hospitality sectors.

Trade credit applications have the lowest score, with the risk profile varying depending on the

sector. Hospitality trade credit applications have deteriorated by -2.0%, while financial services and professional services have improved by +26% and +19% respectively.

Source: Equifax Commercial Insights Report, Q3 2024

Source: Equifax Commercial Insights Report, Q3 2024

Customer quality changes by product, 2024 Q3 vs 2023 Q3

Source: Equifax Commercial Insights Report, Q3 2024

Industries with High Adverse Rates, July 2023-August 2024

Source: Equifax Commercial Insights Report, Q3 2024

Regional insolvency change, 24 Q3 vs. 23 Q3

Rise in adverse filings and insolvencies

The proportion of commercial enquiries with some form of adverse filing is currently at a 24-month peak, rising to +1.4% of total enquiries by August 2024. Worsening market conditions have resulted in +42% more adverse filings in August 2024 compared to 12 months ago.

Source: Equifax Commercial Insights Report, Q3 2024

Insolvency volume trend by Industry (2020-Present)

Source: Equifax Commercial Insights Report, Q3 2024

Intrinsically, each industry has different levels of adverse associated with applications. The hospitality sector, which also saw strong credit demand growth this quarter, currently has the highest adverse rates. In the last 12 months, 2.4% of hospitality enquiries included some form of adverse filing, followed by real estate services (2.0%), mining (1.9%) and construction (1.9%).

High insolvency rates have been observed across all regions, with 3,568 insolvencies registered in Q3 20242, a +43% increase compared to the same period last year. Victoria and Queensland have reported the highest insolvency volumes in the last four years, with volumes growing at a faster rate in Victoria than any other region.

NSW continues as an insolvency frontrunner, with the highest number of insolvencies for year-to-date (as at 2nd Oct 2024) and contributing to 40% of national insolvencies. Businesses across all industry sectors in Victoria have elevated insolvency levels compared to other commercial centers in the same period last year.

While the construction sector maintains the lead in volume of insolvencies, the

hospitality sector is starting to close the gap with a +40% increase in Q3 2024 compared to the previous quarter3 Victoria drives this growth with a +260% jump in insolvencies in hospitality. Construction industry insolvencies are regiondependent, while NSW, SA and WA had reduced insolvencies, QLD and VIC increased moderately vs. Q3 2023.

DBT trends

While average days beyond terms (DBT) in the bureau at the end of Q3 2024 are marginally higher than a year ago, they remain low at 4.2 days, down from a peak of 4.8 days in Q4 2023.

The construction and retail sectors continue to improve, with DBT decreasing for the fourth consecutive quarter in Q3 2024. However, the hospitality sector has seen DBT rise to 1.4 days higher than levels observed in the same period two years ago.

Impact on consumer finance

In this complex landscape, mastering the use of data is paramount for credit professionals. Leveraging diverse data sources, including consumer credit bureau data, provides businesses with a more comprehensive view of applicants’ credit history and overall financial stability.

Examining connections to a business owner or director’s consumer files can reveal additional financial stress not evident in a purely commercial file. For example, mortgage

stress among business owners is a growing concern. Business owners in key sectors like hospitality, construction and retail experienced higher mortgage stress levels in Q3 2024 compared to other industries. The consumer mortgage arrears rate peaked in April 2024 with 0.78% of accounts in arrears, with business owners in the hospitality sector experiencing the most mortgage arrears over the last 24 months.

Historically, mortgage arrears rates amongst self-employed

individuals were lower than the average consumer, as business owners tend to have better cash flow and income. However, as market conditions worsened, self-employed individuals in sectors with a high reliance on credit – such as construction, retail, and hospitality – began falling behind on mortgage repayments at a higher rate than other sectors. This trend suggests operators may be diverting funds toward business operations, impacting their ability to meet mortgage obligations.

Visibility of Adverse proportion of applications up to Q3 2024 (%)

Source: Equifax

Average days beyond terms trend (2022-Present)

Source: Equifax Commercial Insights Report, Q3 2024

Risk Management

Self-employed business owners are also experiencing mounting early-stage (30+ days) arrears on unsecured credit, with the rate accelerating in the last six months. While credit card arrears rates for self-employed individuals in hospitality and construction have historically been up to

30% lower than those in other commercial sectors, arrear rates for both credit cards and personal loans have increased sharply since January 2024 for hospitality, construction and retail. Personal loan arrears for self-employed individuals in the construction sector are +17% higher than other sectors.

Self Employed Mortgage Arrears (30+)

Navigating the undercurrents

By understanding the complex interplay of economic factors, consumer behavior, and industry-specific risks, credit teams can make more informed credit decisions. Leveraging diverse data sources enables you to anticipate shifts and

Source: Equifax Commercial Insights Report, Q3 2024

Source: Equifax Commercial Insights Report, Q3 2024

Self Employed Credit Card Arrears (30+)

identify emerging risks more accurately. There is a wealth of credit bureau data that can augment adverse data to provide a more comprehensive view of an applicant’s credit history and overall financial stability.

The power of comprehensive data

When evaluating any single data source, credit professionals must consider factors like completeness, consistency and timeliness. It’s not simply about having data; it’s about the quality and depth, and intelligent use of that data. For example, ATO default data offers valuable insights but requires careful interpretation due to its volatility and the complexities of the ATO’s data collection and default removal processes.

Also, adverse data should be treated as one piece of a complex puzzle. Other factors, such as the frequency and types of credit inquiries, can also indicate elevated risk. The bottom line: no single metric can address every challenge in this uncertain economic climate.

Mitigating risk with a 360-degree view

Limited data sources and datasets lacking relevant detail increase the likelihood of missing critical pieces of the credit story, potentially leading to inaccurate conclusions. The graph below illustrates this point: as a company nears external administration, the likelihood of an adverse event appearing on its file increases. However, it’s important to note that a majority

of companies (57%) still fail without any prior adverse events recorded.

As Australia’s largest commercial and consumer credit bureau, Equifax offers a unique advantage: the ability to merge an individual’s consumer profile with comprehensive commercial credit data, creating a holistic 360-degree view of credit risk. Leveraging insights from consumer credit files, for instance, can significantly enhance the value of adverse data, with the potential for a +4% or greater uplift, depending on the industry.

A strong bureau score is built on a broad and deep foundation of data sources, integrating predictive elements into a single, reliable view. Credit professionals can effectively use credit scoring alongside other relevant attributes to enhance risk assessments, tailored to the nuances of the specific industry and credit usage patterns.

This amalgamation of multifaceted insights becomes a

powerful tool for monitoring customer cash flow stability and informing contract negotiations, particularly when enriched with director information, linking a company’s trading history, its directors and its shareholders. Within this framework, proprietorship data – covering sole traders and partnerships –becomes an essential compass for managing risk and gaining a deeper understanding of the financial health of customers and suppliers.

Contact us today to learn more about the reliability and predictiveness of Equifax data.

*Debbie Leo MICM

General

Manager Corporate and Government Equifax www.equifax.com.au

FOOTNOTES:

1 Federal Chamber of Automotive Industries, Sept 2024 New Vehicles Sales

2 Based on ASIC Insolvency Statistics to October 2, 2024

3 Based on ASIC Insolvency Statistics to October 2, 2024

Source: Equifax

Construction recovers, while regional Australia drives economy

By Barrett Hasseldine MICM*

The latest data released by credit bureau illion, now an Experian company, reveals that business failure risk has continued to improve over the last quarter. The improvement is not uniform across industries and regions, however, with some still deteriorating.

In this article, illion’s Head of Modelling, Barrett Hasseldine, outlines key findings in the company’s September quarter Commercial Risk Barometer, and suggests what all of this could mean for AICM members and the broader industry.

Construction industry turns corner

Most notably, Barrett says the data shows the Construction industry has improved, where business failure risk was down 0.2% in the September quarter, suggesting that more favourable trading conditions are beginning

to appear in what has been a long period of economic fragility for the sector.

“We found that trading growth in this sector is now outpacing inflation, which may finally translate into more stable cash flows and fewer construction businesses in financial stress,” said Barrett.

illion’s data showed the Construction sector’s annual growth significantly outpaced inflation, rising by more than 10% year on year. Rising trade activity from higher consumption contributed to this growth, suggesting that businesses are beginning to see more positive cash flows again.

Improvement in the failure risk of construction businesses may be attributed to better servicing of invoice payments, reducing the risk of insolvencies.

“We are seeing a 6% improvement in the time

“The latest data released... reveals that business failure risk has continued to improve over the last quarter.”

Barrett Hasseldine MICM

taken to pay invoices, and this is also coinciding with greater trading activity,” Barrett added. We therefore believe that the Construction sector may now be operating with more stable and sustainable cash flows, which is great news. Hopefully this translates into lower insolvency rates through 2025, contingent on the state of the broader economy.

“Although a small percentage of construction businesses are still struggling to meet their financial obligations, the majority are doing better than they were.”

Other sectors a mixed bag

In other sectors, Mining and Wholesale trade have also continued to go from strength to strength, each now being more than 40% lower risk than the national average. Growth in the Mining sector rose a huge 16% year-on-year, where ‘wholesale trade’ improved a very respectable 12%.

“Improvement in the failure risk of construction businesses may be attributed to better servicing of invoice payments, reducing the risk of insolvencies.”

“The Mining and Agriculture sectors have contributed to business failure risk in regional Australia being lower than metro Australia,” Barrett added.

However, illion’s data did show that other sectors are of concern. The Utility sector has deteriorated somewhat, with illion’s analysis showing that its failure risk rose by 1.4% in the September quarter, due in part to a 10% reduction in consumer spending and the payment of trade invoices taking 5% longer.

“The lower consumer spending may simply be due to lower energy tariffs, but if consumption were to fall beyond normal seasonal variations, the failure risk of Utility businesses could rise in 2025; especially as

overdue invoices are already on the rise in this sector.” Barrett added. “Any indication of further deterioration would therefore need to be closely monitored.”

illion’s Commercial Risk Barometer highlighted that sectors such as the Food Services industry also continue to struggle, with the business failure risk remaining 40% higher than the national average.

The data showed that although the sector has experienced a 10% rise in consumer spending over the September quarter, this has made little impact, with the sector also seeing a 20% rise in the time taken to pay late invoices. This has gone from 16 days on average in June 2024,

Economic Update

Business Growth (Percentage) – Year to September 2024 (Year on Year)

Business Failure Risk by State and Geographical Region – Percentage Higher/Lower than National Average

to 19 days in Sept 2024. “While it might not sound a lot, it makes a big difference – in addition, the sector has also seen a 1% rise in failure risk over Q3,” said Barrett.

“While higher spending is a promising sign of business activity, the challenges that the Food Services sector faces with invoice payments suggests that a proportion of its businesses may unfortunately continue to find themselves in hard times.”

Overall, illion’s data shows that some industries are seeing a rise in business activity while others are delaying payment of overdue invoices. The risk of Food Services, Transport and Utility companies may be of particular concern in 2025, therefore requiring particularly close monitoring.

Mining, Professional Services and Agriculture may continue to offer better opportunities for investment and lending, with

Construction also possibly eyeing a recovery.

Regional Australia winning, while metro is dragging Geographically, businesses in metropolitan Sydney, Melbourne, and Adelaide have the highest risk of business failure, currently around 7% higher than the national average. This may be largely because of higher living costs and stressed budgets

impacting on household consumption.

Conversely, businesses in regional Australia and in metropolitan centres, whose growth is influenced by regional and rural activity, appear to be faring better.

“For example, when compared to the national average, businesses in metro QLD and WA have 10% and 13% lower than average failure risk, while regional WA, SA, and QLD have 20%, 15% and 10% lower than average failure risk,” Barrett added. “Even businesses in regional NSW and VIC are faring better than the national average.

“This lower risk is directly related to regional Australia’s relationship with the mining and agricultural sectors – these being 45% and 30% lower risk when compared to the average over all sectors.”

More promising times may lie ahead for some business sectors, and Australia might be beginning to turn the economic corner in terms of construction activity, although this is qualified optimism, as business confidence still appears to be erratic and metro services businesses still showing some signs of stress. illion continues to monitor closely.

*Barrett Hasseldine MICM Head of Modelling illion www.illion.com.au

About illion and Experian illion, an Experian company, is a leading provider of trusted data and analytics products and services in Australia and New Zealand.

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realise their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agribusiness, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries.

Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com

CreditorWatch rates

16.2% of hospitality businesses as high risk or above; Forecast closure rate of 8.9% over next 12 months for the sector

By Ivan Colhoun*

Colhoun

CreditorWatch’s latest industry risk ratings reveal businesses in the hospitality sector are currently exhibiting an extremely high level of risk compared to other sectors.

CreditorWatch currently rates 16.2 per cent of businesses in the food and beverage services sector as ‘high’ or ‘very high’ risk, significantly higher than second ranked Administrative and Support Services at 7.2 per cent and Arts and Recreation Services at 7.0 per cent.

Businesses in the food and beverage services are currently struggling under the higher interest rate regime, increased input costs, energy price rises, reduced visitation in CBD locations, and lower consumer demand due to cost of living pressures.

At the other end of the scale, it is the Wholesale Trade sector that has the highest proportion

of businesses rated at ‘low’ and ‘very low’ risk (58.6 per cent), followed by Manufacturing (57.8 per cent) and Agriculture, Forestry and Fishing (51.3 per cent). Just 18.2 per cent of Food and Beverage businesses are rated low and very low risk. In fact, just 0.6 per cent are rated very low risk.

There are some common characteristics among sectors rated low risk. On the lower risk ratings side, unsurprisingly, there is a predominance of government or effectively government-funded business categories.

It will be interesting to see to what extent there is movement in risk ratings in the Education and Training sector over the next year, given the well-publicised changes to federal government policy in respect of higher education and immigration caps.

Ivan

Hospitality and arts forecast to see highest business closure rates

CreditorWatch forecasts the Food and Beverage Services and Arts and Recreation Services sectors to have the highest closure rates over the next 12 months, followed by Financial and Insurance Services.

CreditorWatch defines the business closure rate as voluntary and involuntary administrations, ASIC strike-offs and closures of solvent businesses.

CreditorWatch’s models are predicting increased business failures in four industry sectors: Food and Beverage Services;

Financial and Insurance Services; Rental, Hiring and Real Estate Services; and Agriculture, Forestry and Fishing.

Three of the four sectors forecast to show deterioration likely reflect the lagged impact of tighter monetary policy on what are relatively interest sensitive and/or discretionary spending sectors of the economy.

Food and Beverage Services is also likely being impacted by reduced CBD visitation in many cities, with failure rates and arrears rates across most states higher for businesses in cities than for firms in nonmetropolitan regions.

“On the lower risk ratings side, unsurprisingly, there is a predominance of government or effectively governmentfunded business categories.”

Financial and Insurance Services and Rental, Hiring and Real Estate Services are also predicted to experience increased business closure. Neither sector is currently showing a significant rise in companies in the ‘very high’ or ‘high’ risk categories of CreditorWatch’s Risk Ratings, however, it’s not unreasonable to expect some increased pressure in these areas given the current restrictive setting of monetary policy and the likelihood that interest rates will not be reduced before early 2025 in light of slow progress reducing inflation and continuing strength in the labour market.

The models forecast a modest increase in failure rates for companies in Agriculture, Forestry and Fishing. While higher interest rates are likely to be part of the story, lower

Economic Update

commodity prices, especially for beef, in the face of escalated costs, are a more likely driver. Again, from a macro perspective, it would also not be surprising to see some increase in Education and Training business closures as a result of changes to federal government policies on foreign students and immigration.

Company insolvencies at record highs

ASIC reports that 1225 companies entered insolvency for the first time in September 2024. In seasonally adjusted terms, the number was slightly higher but not significantly so. At face value, this data leads to the headline “company insolvencies at record highs” as the number of insolvencies is

indeed higher than the previous peaks during and after the Global Financial Crisis and in the slow period for economic growth that followed the end of the mining boom.

However, the number of registered companies has risen substantially between 2008 and today – indeed at 3.4m, there were twice as many registered companies in September 2024 as there were at the start of 2009. Scaling the number of monthly insolvencies to the number of companies registered presents a somewhat different perspective of the record high number of insolvencies.

While it’s true that insolvencies are rising, the overall proportion is not as high as during either of the previous periods. There’s also

some uncertainty about the extent to which the resumption of ATO collections activity may be creating some bunching or catch-up in insolvencies after the significant reduction in enforcement over the COVID period thereby potentially overstating the underlying trend somewhat.

Outlook

Overall, restrictive monetary policy and several COVID aftereffects (ATO enforcement actions, migration and foreign student policy changes) are combining to increase the risk of business failure, with interest sensitive/consumer discretionary sectors most at risk.

The rate of insolvencies is not yet especially high and the enforcement actions of the ATO

Data sources: CreditorWatch and ASIC

Australia – Companies Entering Insolvency for the First Time (ASIC Series 1, Seasonally Adjusted)

Data sources: CreditorWatch, ASIC and Macrobond

Australia – Insolvencies as a Share of Total Company Registrations (Mthly, Seas. Adj.)

Data sources: CreditorWatch, ASIC and Macrobond

are currently obscuring the underlying trend. CreditorWatch modelling expects a further lift in insolvency rates, though

expected interest rate cuts in the first half of 2025 and the beneficial aspects of recent tax cuts should prove a support.

*Ivan Colhoun CreditorWatch E: ivan.colhoun@creditorwatch.com.au

Update from across the ditch: Kiwi credit trends point to challenging summer period

By Monika Lacey MICM*

As we enter the final quarter of 2024, it’s clear many households and businesses in Aotearoa New Zealand have struggled with the cost-ofliving crisis and tight economic conditions.

However, are we about to see Christmas come early for our economy?

The Reserve Bank of New Zealand has reported a decrease in inflation to 2.2% for the September 2024 quarter, down from 3.3% in the June quarter,

now comfortably within the bank’s target range of 1% to 3%.

In light of this inflation outlook, economists anticipate a shift towards a more neutral monetary policy, potentially lowering the official cash rate (OCR) to 3.5% from the current 4.75%.

While these developments suggest positive economic trends, recent credit insights indicate challenges remain for consumers and businesses nationwide.

Consumer Arrears Trends

Monika Lacey MICM

The number of New Zealanders falling behind on payments in September 2024 fell slightly to 458,000, a reduction of 3,000 month-on-month.

However, this figure is still 3.5% higher year-on-year, surpassing levels seen in 2018. An increase in arrears is expected during the summer months due to seasonal spending patterns.

Data on new credit users shows that Buy Now Pay Later (BNPL) options have been the most popular first credit product since 2018, though uptake peaked in 2021 and is now declining as interest in telco products resurges.

Despite a slight month-onmonth decrease in consumer financial hardship cases (down by 400), there has been an overall increase since November 2022.

This trend may appear concerning; however, it reflects consumers taking proactive measures, such as filing for financial hardship, to secure their financial futures.

On the business side, a more troubling scenario emerges. Credit defaults have risen by an average of 16%, particularly affecting the transport and construction sectors.

Company liquidations have surged by 25% year-onyear, marking the highest monthly total in a decade, with construction seeing the highest proportion of these liquidations.

The hospitality sector has also faced difficulties, with liquidations increasing by 34% over the past year, severely impacting cafes, restaurants, pubs, and clubs.

Consumer Arrears Trends by Days Past Due

Personal Loan & BNPL Arrears

Credit Card & Auto Loan Arrears

As the festive season approaches, we know from our data these significant challenges are likely to persist. It is crucial for both businesses and consumers to prepare for these tough times by assessing their current situations and seeking guidance from trusted advisors as needed.

Arrears decline, but remain above pre-pandemic levels

The number of individuals behind on payments has slightly decreased to 458,000, which represents 12.12% of the creditactive population, down by 3,000 from the previous month.

However, this figure is 3.5% higher compared to the same time last year.

Among those in arrears, 156,000 consumers are 30 or more days past due, with 74,000 of these being at least 90 days overdue.

Across specific categories, vehicle loan arrears rose in September, up to 6.4%,

Consumer Credit Demand: 2020 – 2024

Telco & Utility Arrears Home Loan Arrears

“Among those in arrears, 156,000 consumers are 30 or more days past due, with 74,000 of these being at least 90 days overdue.”

Credit Demand by Product Type

compared to 5.4% for the same month last year, while credit card arrears decreased slightly month-on-month to 4.2%, and remaining unchanged yearon-year. Personal loan arrears held steady at 8.9%, while retail energy arrears remained at 4.7%.

Notably, BNPL arrears dropped to 6.1%, marking the lowest level since January 2022, and telco/communication account arrears stayed flat at 9.7%.

Mortgage arrears experienced a slight increase, with 21,200 home loans past due, reflecting a year-onyear rise of 13%. Conversely,

First Credit Product for New to Credit Customers

Annual Change in Financial Hardship Cases

Financial Hardship by Product Type

mortgage applications rose by 4% compared to the same period last year, suggesting early signs of recovery in the housing market during spring.

Overall credit demand remains steady, credit card demand climbs

Overall, consumer credit demand has decreased by 2% compared to last year, though the decline is slowing. Interestingly, credit card demand is rebounding, with a 13% increase from the previous year. Conversely, vehicle finance demand has dropped significantly, down 16% year-overyear.

A notable trend is the rise of consumers new to credit, who are starting to take up credit products for the first time, helping them build their credit profiles.

In 2023, around 160,000 consumers opened their first credit products, with another 110,000 doing so in 2024 so far.

Since 2018, BNPL has become the most popular choice for firsttime credit users, surpassing traditional options like telco and utility accounts.

In 2023 and 2024, 32% of newto-credit consumers chose BNPL as their initial credit product. However, this figure has declined from its peak in 2021, as BNPL accounts become prevalent and the rate of new consumers declines.

Financial hardships point to proactive consumer behaviour

Financial hardship remains a significant issue in the consumer credit landscape, with 13,300 accounts currently reported

as experiencing difficulties. However, there has been a modest decrease of 400 cases in the past month, suggesting a potential shift towards improvement.

This trend suggests that consumers are taking proactive measures to address their financial challenges. By formally declaring financial hardship, individuals are showing a commitment to managing their financial situations and seeking appropriate assistance.

This proactive approach is a positive step towards long-term financial stability and resilience.

Year-over-year comparisons reveal a 19% increase in financial hardship accounts. Notably, nearly half (47%) of these cases are linked to mortgage payment challenges, while credit card debt accounts for 29%, and 

Company Liquidations Up 25% YoY

Economic Update

personal loan repayment issues make up 15% of the total.

Since November 2022, the overall trend has shown an upward trajectory in financial hardship instances, but the growth rate is now decelerating.

Geographically, the highest concentrations of financial hardship cases are found in the major urban centres of Auckland and Wellington, indicating that economic pressures may be more pronounced in these highcost metropolitan areas.

Kiwi businesses continue to struggle

New Zealand’s business sector is facing notable financial challenges, with a 16% year-onyear increase in credit defaults across all industries in September 2024.

The transport sector has been most affected, experiencing

a 35% rise in credit defaults compared to the previous year, followed closely by the construction industry at 33%.

The retail sector, while impacted, shows the least increase with only a 3% rise in credit defaults.

Company liquidations have surged by 25% year-on-year, reaching a 10-year high with 306 liquidations in the most recent month.

The construction industry accounts for the largest share of these liquidations, representing 28% of the total in Q3 2024, with 199 construction companies failing during this period.

Over the past year, the businesses most vulnerable to liquidation have been property operators, residential building construction companies, and cafes/takeaway food establishments.

This trend underscores

the specific challenges these sectors are facing in the current economic climate.

To 2025 and beyond

It’s encouraging to see inflation returning to more regular levels and we hope to see this continue to level out as we head into the new year.

Unfortunately, we know the summer and Christmas period can be challenging for consumers and businesses alike at the best of times.

The current climate will no doubt be stressful for many across Aotearoa New Zealand. As such, it’s important for households and businesses to make smart financial decisions for their long term wellbeing.

*Monika Lacey MICM

Chief Operating Officer

Centrix Credit Bureau of New Zealand www.centrix.co.nz

NZ Company Liquidations by Industry

If you aspire to achieve greater heights in your credit career or want to get the best from your credit staff, then a qualification course can help you achieve your targets. Offered nation wide, you can study in your own time (24/7), with support available. If you have industry experience or prior education, you may be eligible for Recognition of Prior Learning (RPL) credits to fast-track your qualification. If you’re an employer, you may qualify for a training grant. Talk to AICM today to discover your course options.

The rise of the API economy

By Neill Borg MICM*

In the digital age, new tools to develop the economy are no longer restricted by physical innovation but by the limitations of imagination, knowledge capital, or financial resources. This era marks one of the greatest opportunities to drive change, influencing what we consume, how we invest, who we trade with, and how we manage our lives.

The vast collection of data in isolation is growing at an accelerating rate, and when combined with global communication and sophisticated connectivity, it’s clear that the API economy will increasingly shape how consumers and markets behave.

Many readers might be unsure about what an API is, how it drives the economy, or how it might affect them personally or in business. In short, the first published Application Programming Interface (API) specification was introduced by David Wheeler, David Wilks, and Stanley Gill in their 1951 book, The Preparation of Programs for an Electronic Digital Computer This set the early foundation for system interactions in computing. However, according to API Evangelist, the first web API was introduced by Salesforce. com on February 7th, 2000, and since then, the use of APIs in commerce has exploded.

For most consumers or business units, the technical mechanics of APIs aren’t a primary concern – they simply want seamless digital interactions. To put this in context, most people don’t care about the mechanics of a car or how it works; they just want to reach their destination.

However, the impact of APIs is significant. Early adopters

have leveraged APIs to gain a competitive edge. For example, Netflix’s shift from DVD rentals to a global streaming platform was powered by API connectivity, allowing for simple, user-friendly experiences. In 2000, Netflix had $5 million in revenue compared to Blockbuster’s $4.5 billion, but by 2010, Blockbuster had filed for bankruptcy, illustrating how APIs can drive innovation and disrupt markets.

APIs are fuelling economic growth by enabling the development of user-centric applications aligned with business goals. By leveraging APIs, microservices, and thirdparty data, DecisionOK by Credisense has created an innovative, scalable platform that delivers personalised customer experiences while empowering credit executives to make comprehensive and informed risk decisions.

We’ve embraced the power of the API economy by creating an expansive integration ecosystem that connects thousands of crucial data points such as local

“APIs are fuelling economic growth by enabling the development of usercentric applications aligned with business goals.”

Neill Borg MICM

and international credit bureaus, KYC/AML solutions, ID verification and biometrics, property data, addressing tools, valuations, government registries, digital signature services, payment gateways, vehicle data, PPSR, open banking and live bank data analysis, accounting and financial data analysis, and advanced anti-fraud tools.

As the market evolves, our API ecosystem grows, and we are continuously adding new integrations to address emerging demands. With the flick of a switch, our customers can instantly access these features, empowering credit teams and businesses to stay ahead of industry trends and lead in innovation. Our platform delivers unmatched flexibility and access to cutting-edge data and services, keeping businesses at the forefront of their industry.

Recently, we’ve added new fraud detection services that use Artificial Intelligence and Machine Learning to detect document tampering and document fraud, as well as consumer digital footprint assessments. These assessments analyse applicants’ email addresses, social media profiles, online behaviour, mobile numbers, device usage patterns, and IP addresses (including VPN/ Dark web browser usage) to build an application fraud score. This allows businesses to better protect themselves from fraudulent activity and make better informed risk decisions.

In today’s fast-paced digital economy, agility and foresight are essential. APIs have evolved beyond being mere technical tools – they are the gateway to future growth, competitiveness, and long-term sustainability.

The businesses that will succeed are those willing to adapt and evolve alongside the changing technological landscape. By harnessing the power of APIs and embracing seamless connectivity, these businesses will gain the ability to innovate, streamline operations, and deliver exceptional customer experiences. Staying ahead of the curve with cutting-edge solutions like those offered by DecisionOK by Credisense gives organisations the competitive edge they need to not only survive but thrive in a rapidly evolving market. The choice is clear: embrace the API economy or risk becoming obsolete in an increasingly connected world.

*Neill Borg MICM Country Manager – AU DecisionOK T: +61 401 066 624 E: neill.borg@credisense.io www.decisionok.com.au

Trends in credit and AR technology for 2025 – Part 1

Artificial Intelligence (AI) is on every Business Leader’s radar as we leave 2024 behind but process workflow, data interrogation and connectivity are the topics taking centre stage.

By Lynne Walton MICM*

Access Intell works with businesses of every size, in every industry sector, and with every problem, limitation or restriction possible across its portfolio of clients. They are well placed to see what’s happening in detail across the industry. Not surprisingly, Access Intell CEO and Founder Lynne Walton sees ‘best in class’ credit and finance teams implementing highly connective, integrated solutions that place data access, information flow and interpretation front and centre in their quest to perfect internal processes and controls.

In this article series, Lynne will explore some of the modular components she sees most often and examine some of the reasoning behind their

introduction. Part 1 of 3 examines the first stage – customer onboarding – where innovation is having a real impact on productivity.

Businesses are forever seeking opportunities to gain a competitive edge and the current buzz around AI is evident all around – but most are watching and waiting. The pace of change is so quick that shiny new things can quickly become obsolete, perhaps replaced with something even better that has substance and longevity. Picking through short-lived innovations to identify technology that can have a lasting impact often comes down to implementing practical solutions that can save time, reduce cost and optimise efficiency across the AR journey – but that can be enhanced with

“Businesses are forever seeking opportunities to gain a competitive edge and the current buzz around AI is evident all around...”

Lynne Walton MICM

“How and what a business sells, legacy systems, legislative constraints, labour resources and a hundred other factors all create intricacies that offer both opportunities to optimise performance and barriers to progress when it comes to installing the right technology.”

AI as it develops and proves its reliability.

They differ so vastly that a ‘one size fits all’ approach could never work. What is critically important in one credit process might not even need to be considered in another. For example, if you are supplying large items of machinery on credit, PPSR is vital and being able to process credit card payments won’t feature. If you are selling fish to 700 restaurants every week, processing credit card

payments quickly and easily will be vitally important and PPSR won’t.

How and what a business sells, legacy systems, legislative constraints, labour resources and a hundred other factors all create intricacies that offer both opportunities to optimise performance and barriers to progress when it comes to installing the right technology. Low or no code connectivity is a key consideration to support information flow into CRMs, ERPs, accounting systems,

insurance brokers, debt collectors and many more of the connection points we see in modern processes. That’s why modular approaches have emerged as the way progressive businesses are introducing improvements. The reasoning is simple.

l Processes can be divided into component parts making the workload manageable

l Issues can be tackled in stages, minimising disruption

l ‘Tech spikes’ ensure API connections are possible

and data being consumed is available in the format needed

l Processes can be isolated and tested before deployment, minimising failure

l The risk of choosing the wrong solution is reduced

l Confidence in the new provider grows with each component deployment

l Cost can be spread across multiple periods in line with budgets.

The illustration below details some of the modular components in many Credit/AR processes. Some of the improvements made possible to the new customer onboarding process are:

1. CRM integration and improving sales conversion

Credit information delivered into a CRM is of significant value to a sales team. It helps focus effort on converting customers that

“Technology can improve relations by giving sales teams visibility over the progress of applications and understanding of the decision process to better understand why credit is declined.”

would be approved for credit rather than wasting time on those unlikely to get an account.

2. Sales and Credit – Making friends with the old foe Credit and Sales Team conflict is old news. It’s refreshing to encounter businesses where both understand each other’s challenges and work together to find a wise way forward to approve more accounts. Problems tend to stem from a lack of communication and understanding of each other’s objectives. Technology can improve relations by giving sales teams visibility over the progress of applications and understanding of the decision process to better understand why credit is declined.

3. Digital applications

The customer experience should be an important aspect of onboarding. Speed and ease are paramount. Access Intell sees digital applications that are 12 stages long and Terms and Conditions of Trade that require microscopes to read them. Our advice is to keep it short and simple. If you can get information elsewhere, don’t ask the applicant. The customer should be able to apply in less than 2 minutes – 3 if there is a Director’s Guarantee – while standing in a field of crops or in a hair salon waiting for a colour to take. If they can’t you might want to re-consider your solution.

4. Identifying customers

Verifying customers are who they say they are is an important part of the onboarding process. We are seeing a rise in bigger and better biometric facial recognition and verification products with 3D, 4D and 5D solutions emerging. Businesses that operate Trade Counters may need this solution, but Access Intell is finding that a combination of ingenious methods are being deployed across businesses that are less invasive and more effective.

5. E-signatures

Document signatures for the execution of Deeds of Guarantee (in the States that allow it) and the acceptance of Terms & Conditions of Trade are becoming the norm. E-sign technology has come a long way. Customers expect to be able to transact with suppliers

“Verifying customers are who they say they are is an important part of the onboarding process. We are seeing a rise in bigger and better biometric facial recognition and verification products with 3D, 4D and 5D solutions emerging.”

digitally for ease and speed. If your business has not yet implemented a solution, and you trade in a sector that expects it, you may be creating an unfavourable customer impression.

6. Assessing new accounts

Then we arrive at the point in the process when a decision is needed. Approval may be requested for:

z new customers processed via an online application completing paper applications an ABN delivered by a centralised unit overseas via a sales person an individual at a trade counter z existing customers seeking a limit increase with changed circumstances including new owners or trade credit insurance withdrawal Many of the same considerations are required irrespective of the situation. Traditionally, credit teams have relied on one credit bureau or source of information, but this can limit understanding of the opportunity or risk.

Advancements in technological solutions now enable multiple sources of data to be aggregated and automatic selection of which source or combination of sources is most appropriate for the risk. This approach has been found to reduce cost by up to a third* and improve prediction accuracy by 48%*. Additionally, systemising the decisioning process (not so much in making the decision but being able to record it) allows businesses to maintain consistency and exert control over exposure risk.

Stay tuned for Part 2 in the next edition, covering the second stage – PPSR and Monitoring Risk.

*Source – Access Intell Data 2024

Lynne Walton MICM is the founder and CEO of Access Intell. Lynne was an Insolvency Practitioner for 15 years with Ernst & Young and KPMG in Scotland and BDO and PPB Advisory in Australia. She left the insolvency profession in 2010 to specialise in the PPSA and PPSR and founded the EDX (QLD) business which became Access Intell in 2018.

Access Intell helps businesses make wise credit decisions, manage risk and ensure they get paid. The Access Intell platform transforms globally sourced data into risk intelligence to help businesses extend credit safely. Their cost-effective products support processes at every stage of the customer life cycle, from onboarding and assessment to PPSR and ongoing monitoring.

Fostering resilience and excellence in credit management teams

By Peter Morgan FICM CCE*

Introduction

As the Managing Director of a Specialist Executive Search and Accounting and Finance Recruitment company for the last 15 years, and having had the opportunity to serve as the Finance Director on the AICM board for over four years, I’ve had the privilege of witnessing and being part of an organisation shaping the dynamic landscape of credit management. At this year’s upcoming National Conference, a recurring theme that resonated deeply is building the strength and resilience of teams. Here, I share insights and strategies on building robust teams that not only navigate but thrive in the complex world of credit.

The foundation of team strength

In my experience, the foundation of a strong credit management team lies in three pillars: selection, training, and culture.

Selection

The process begins with attracting the right talent. We look for individuals who not only

possess analytical acumen but also exhibit a deep empathy for client relationships and an intrinsic motivation towards continuous learning.

Training

Once onboarded, continuous training is crucial. This isn’t limited to technical skills in credit assessment and analysis but extends to understanding market trends, legal updates, and soft skills like negotiation and emotional intelligence.

Culture

A culture that fosters open communication, accountability, and innovation is paramount. It’s about creating an environment where team members feel empowered to voice ideas, take calculated risks, and learn from failures.

Leadership and team dynamics

Leading by example is not just a cliché; it’s a necessity. As leaders, we set the tone for the team’s morale and productivity. During challenging economic climates,

Peter Morgan FICM CCE

“A culture that fosters open communication, accountability, and innovation is paramount.”

maintaining team morale was often about showing vulnerability – admitting what we didn’t know and learning together. This approach not only built trust but also encouraged innovation, as everyone felt included in solving problems.

Innovative practices

Technology plays an increasingly significant role in team dynamics. Implementing AI for credit risk assessment or data analytics for enhanced debtor profiling has required not just technical training but also a shift in mindset. Teams needed to be comfortable with change, which was facilitated through workshops focusing on digital literacy and case studies on successful tech integrations.

Evolution of best practices

Over my tenure, the best practices in team management have evolved. Where once

the focus was heavily on individual performance, today’s successful teams operate on a collaborative model. This shift was evident in how we handled the adoption of remote work – teams that were previously location-bound transformed into flexible, resilient units capable of functioning seamlessly from anywhere.

Personal leadership lessons

Reflecting on my time leading and helping to build high performing teams, one of the profound lessons was the strength of empowerment. Teams that were given autonomy to manage their projects, within defined frameworks, showed higher satisfaction and productivity. This autonomy wasn’t about relinquishing control but about trusting the team’s ability to make informed decisions, fostering a sense of ownership.

Conclusion

Building a strong credit management team isn’t about assembling a group of skilled individuals; it’s about creating a synergy where each member’s strengths are amplified through collective effort. As we look forward, the focus must remain on adaptability, technological integration, and above all, a human-centric approach to leadership. My journey has taught me that in credit management, as in life, the strength of the team is the heart of success.

*Peter Morgan FICM CCE

Director

Byron Thomas Recruitment

T: +61 2 8677 3020 | +61 432 561 999

E: petermorgan@byronthomas.com.au www.byronthomas.com.au

Peter has over 20 years combined Executive Search, board level, and senior management experience, offering an in-depth insight into building and fostering successful teams through talent acquisition, executive sourcing, employee engagement and career development.

The best debt collection tool is people (The story unfolds)

By Alex Caruana MICM*

The best debt collection tool on the planet is not technology or data, it is good people using technology and data. But what truly makes people the most effective tool in debt recovery? It boils down to their ability to communicate – using both their mouth and ears.

In debt collection, the words we say are vital. They convey the message, set expectations, and guide negotiations. But what is often overlooked is the equal, if not greater, importance of listening. Without truly hearing and understanding what the customer is saying, the spoken words lose their impact. Effective debt collection requires a balance saying the right words at the right time,

but more importantly, listening and understanding the customers situation.

Why listening matters

Recent Australian studies highlight the significance of active listening in debt recovery. According to research by RFi Group Australia (2022), 85% of

“Effective debt collection requires a balance saying the right words at the right time, but more importantly, listening and understanding the customers situation.”

Alex Caruana MICM

“...reports that businesses with a strong focus on listening and empathy in customer interactions see a 20-30% improvement in customer satisfaction a crucial factor in maintaining cooperative relationships with customers.”

consumers are more likely to cooperate with a debt collection agency when they feel understood

This sense of being heard creates a more collaborative environment, where the customer is more inclined to engage positively with the collector.

Additionally, Customer Service Institute of Australia (CSIA) reports that businesses

with a strong focus on listening and empathy in customer interactions see a 20-30% improvement in customer satisfaction a crucial factor in maintaining cooperative relationships with customers. In debt collection, this translates into higher recovery rates, as customers who feel understood are more likely to adhere to payment agreements.

The power of words

What you say also plays a significant role in debt collection, but it needs to be more than just compliance scripts or protocols. In ASIC’s 2021 report on debt collection practices, it was noted that collectors who demonstrate empathy and adjust their language to reflect the customers circumstances achieve higher levels of cooperation and payment compliance.

This highlights the need for flexibility in conversations, rather than a one-size-fits-all approach. For instance, instead of simply stating, “Your payment is overdue,” a more empathetic approach could be, “I understand you may be going through some challenges, and I’m here to help find a solution that fits your situation.” This minor shift in language, backed by active listening, opens the door to more productive conversations and, as the ASIC study found, can lead to a 15-20% increase in debt repayment agreements

Evidence from Australian studies

Several recent Australian studies provide strong evidence that listening, and empathy are key to successful debt recovery. A 2020 study by Prospa Insights Australia showed that businesses adopting a more empathetic, customer-focused strategy saw a 25% improvement in early-stage debt recovery rates. In this study, customers were more willing to engage and collaborate when they felt the collector was genuinely interested in understanding their financial situation.

Additionally, an in-depth 2021 survey by the Australian Institute of Credit Management (AICM) found that 63% of customers are more likely to respond positively when they feel their circumstances are acknowledged and respected. This highlights the importance of not just hearing the words, but actively engaging with the customers underlying concerns and adapting the recovery strategy accordingly.

Listening is not just hearing – it is understanding

One of the key takeaways from recent Australian research is that effective listening goes beyond just hearing the words. It is about understanding the customers situation, emotions, and challenges. Active listening involves asking open-ended questions that invite the customer to share more about their situation, such as: l “Can you walk me through what led to your current financial situation?”

l “What kind of payment structure would work for you given your current circumstances?”

“One of the key takeaways from recent Australian research is that effective listening goes beyond just hearing the words. It is about understanding the customers situation, emotions, and challenges. It is about understanding the customers situation, emotions, and challenges..”

These types of questions not only gather valuable information but also show that the collector is truly invested in finding a solution that benefits both parties. A survey by IBISWorld Australia (2021) showed that customers who feel engaged and listened to are 30% more likely to adhere to payment plans compared to those who feel rushed or misunderstood.

“Australian research consistently shows that communication must be tailored to the customer’s specific circumstances. ... Rural customers typically prefer more personal interactions, such as phone calls, whereas urban customers are more likely to respond to digital communication like SMS or emails. ”

Tailored communication is key Australian research consistently shows that communication must be tailored to the customer’s specific circumstances. Roy Morgan’s 2022 Financial Hardship Report found that customers from rural areas, for example, often have different communication preferences compared to those in urban settings. Rural customers typically prefer more personal interactions, such as phone calls, whereas urban customers are more likely to respond to digital communication like SMS or emails. This report highlighted that customising the communication method based on the customer’s lifestyle can lead to a 20% increase in engagement

Similarly, when debt collectors acknowledge cultural differences, such as language barriers or different attitudes toward debt, they can foster better cooperation. Deloitte Australia’s 2021 Collection Practices Study found that debt recovery agencies that offer multilingual support and culturally sensitive communication see a 35% increase in successful debt resolutions

People are the best tool –but only if they listen

In debt collection, the most valuable tool is the human element. But to be truly effective, collectors must balance what they say with how well they listen. The ability to engage, empathise, and adapt communication strategies to the customers unique situation is what sets successful collectors apart.

Australian studies overwhelmingly show that listening – truly understanding the customers challenges leads to better outcomes. Whether it is higher recovery rates, faster resolutions, or maintaining longterm relationships, listening

and empathy are the keys to successful debt collection.

It is not just about compliance; it is about connection.

*Alex Caruana

MICM Director – Business Development CCSG

T: 02 8568 6539

M: +61 (0) 466 228 387

E: alexcaruana@ccsgroup.com.au www.ccsg.com.au

Alex Caruana MICM is an accomplished professional in debt recovery and field services with over 35 years of industry experience. As Director – Business Development at Credit Collection Services Group (CCSG), Alex is at the forefront of industry engagement, bridging the gap between theory and practice. Drawing from his extensive experience across all sectors, Alex leads initiatives that enhance partner relationships and drives innovative solutions for clients and their customers.

Case update: Federal Court delivers judgment on creditor-defeating disposition against third party restructuring advisor

By Hannah Griffiths RITP and Phoebe Martin RITP*

The Federal Court of Australia recently delivered judgment against a third party restructuring adviser (and a company director) for breaching the creditor-defeating disposition (CDD) provisions, and other provisions of the Corporations Act 2001 (Cth) (Act) and awarded compensation and damages under ss 1317H and 588M(2) of the Act: Connelly (liquidator) v Papadopoulos, in the matter of TSK QLD Pty Ltd (in liq) [2024] FCA 888.

Takeaways

l Gather information from external accountants engaged or associated with the company in external administration, through conducting public examinations or issuing statutory notices available under the Act, to consider potential CDD claims and other claims early in an appointment.

l An adviser need not have had direct involvement in the transfer of company property subject of the CDD claim – it is sufficient for an adviser to have developed or knowingly assisted in the CDD scheme under which the transactions were effected.

Background

The director of TSK QLD Pty Ltd (in liquidation) (TSK) caused $10.3 million to be withdrawn from TSK’s accounts and paid to himself, the external accountant who acted as the specialist restructuring adviser (Adviser), certain individuals in senior management, and their associated corporate entities. The scheme underpinning the CDD was planned by the Adviser. It involved:

1. a sham “Sale Agreement” by which TSK “sold” its business and its accounts receivable to Torquejobs Pty Ltd (Torquejobs), an entity controlled by an individual in senior management, and 2. a “Debt Collection Scheme” whereby TSK allegedly appointed ‘Innovant’ (associated with the Adviser) pursuant to an Agency Agreement to collect TSK’s debts.

The Adviser prepared these documents and valued the assets of TSK at nil.

The Adviser and his associated entities adduced no evidence to contradict the evidence served by the liquidators and TSK, and they submitted that judgment should be entered against them

Phoebe Martin RITP

Hannah Griffiths RITP

immediately, however only in the amount of $431,000.

The Court considered this as tantamount to acceptance that the liquidators and TSK had established liability of the adviser and his associated entities.

The relevant question for determination by the Court centred around the value of the loss and damages that should be awarded in favour of the liquidators and TSK.

Assessment of loss and damages

In assessing the claim for loss and damages, the Court applied a “payments made” assessment, by considering the payments made by TSK pursuant to the CDD scheme. Under this assessment, an expert opinion as to valuation was not required (whereas it would be under a “sale agreement valuation” assessment). The impugned transactions comprised of a group of payments.

There were five payments made by TSK to Torquejobs totalling $2,016,623.74 (Payments) under the Sale Agreement. Those funds were received by TSK from Scottish Pacific Finance (ScotPac), representing debts ScotPac had collected on behalf of TSK.

In cross-examination, the Adviser gave evidence that Payments were conducted by the “internal accounting team” at Torquejobs and that he otherwise had no knowledge and played no part in making the Payments. The Court did not accept that evidence and found that it was “plain from the scheme devised” by the Adviser that “all of the cash held in the banks of TSK as at 24 October

2021 was to be paid to Torquejobs pursuant Sale Agreement, and that is what occurred”.

This finding was corroborated by a handwritten note of the Adviser, which contained a diagram depicting the transfer of $2 million from TSK to Torquejobs titled, “Debtors”.

The Court accepted that the reference to $2 million was “very close to the total of the amounts which were in fact transferred” and otherwise noted that the Adviser gave no evidence to explain the diagram.

The Court highlighted that it was not relevant that the Adviser did not know (or had no direct involvement with) the transactions under the CDD scheme, but rather that it was sufficient that the Adviser knew of all the essential facts of his formulated CDD scheme.

The Court found (and the parties agreed) that the amount awarded to the liquidators and TSK should be reduced by the value of the employee entitlements that were assumed by Torquejobs pursuant to the Sale Agreement.

The Court accepted and preferred the expert evidence of the liquidators and TSK as to the correct value of the employee entitlements (valued at $1,202,000), over the documents prepared by the Adviser and produced during his examination (which valued entitlements at $2,206,858.46).

Settlement deed

Prior to the hearing, the liquidators and TSK executed a settlement deed with Torquejobs and an individual from senior

management of TSK. Under that deed, instalment payments totalling $4.2 million were to be paid to the liquidators and TSK until 2029.

The Adviser submitted that a significant amount of the loss and damage suffered by TSK was remedied by the payments under the settlement deed, although not enough to give rise to issues of any ‘unjust enrichment’.

The Adviser submitted that there was a real risk of bankruptcy if a judgment in the vicinity of millions of dollars was immediately enforceable against him.

Decision

Despite the Adviser’s request, the Court declined to exercise its discretion under the Federal Court Rules for the execution of its judgment to be stayed by staggering the dates for liability based on the timing and completion of instalments paid under the settlement deed, and that the Adviser would not suffer “irreparable harm” if the execution of judgment were not stayed.

The Court held that the liquidators and TSK (and its creditors) should not be denied the opportunity of immediate recovery from the Adviser and his associated entities merely because they had entered a settlement deed with other defendants providing for various payments.

Read the full decision here

*Hannah Griffiths RITP Partner, Pinsent Masons

*Phoebe Martin RITP Senior Associate, Pinsent Masons www.pinsentmasons.com

Are you ready for changes to the law regarding unfair contract terms?

By Allan Kawalsky MICM RITF*

On 9 November 2023, a number of changes to the law regarding unfair contract terms came into effect.1

Who does the new law apply to?

The new regime applies to standard form contracts with consumers or small businesses made or renewed on or after 9 November 2023, and prevents a party from proposing, using or relying on unfair contract terms in standard form contracts.2 The reforms expand the definition of ‘small business’ to include someone who employs 100 people or less, or any business with an annual turnover of less than $10 million.3 It is very likely that AICM members will be dealing with small businesses

that fall within this expanded definition.

There is no blanket rule as to what constitutes a standard form contract, but section 27(2) of the Australian Consumer Law sets out a number of factors that a Court must take into account.

Generally speaking, a standard form contract is a prewritten contract that a business uses for all its customers, and the customer cannot change any or the majority of the terms. If there is a dispute about the issue, then the contract is presumed to be in standard form unless the other party proves otherwise.

The law will almost certainly apply to the standard terms and conditions that are

“The law will almost certainly apply to the standard terms and conditions that are incorporated into the credit applications commonly used by trade suppliers.”

Allan Kawalsky MICM RITF

incorporated into the credit applications commonly used by trade suppliers.

What is an unfair term?

1. Contract terms will be considered ‘unfair’ if: it would cause a significant imbalance in the parties’ rights and obligations under the contract;

2. it is not reasonably necessary to protect legitimate business interests; and

3. it would cause detriment (financial or otherwise) if it were to be relied upon.4

The Court will also take into account other factors, and is required to take into account the extent to which the term is transparent. It also must consider the contract as a whole, and not just the clause in isolation.5

Section 25 of the ACL sets out examples of the kinds of terms that may be unfair,

including terms permitting one party (i.e. the supplier) but not another party (i.e. the customer) to:

1. avoid or limit performance of the contract;

2. terminate the contract;

3. vary the contract, or the characteristics of the goods and services to be supplied;

4. renew or not renew the contract; or

5. assign the contract to the determinant of another party without that other party’s consent.

In ACCC v JJ Richards & Sons 6 , the Federal Court determined that a number of clauses in JJ Richard’s standard form small business contracts were unfair, including a clause which allowed JJ Richards to unilaterally increase its prices. The Court said this clause went beyond what was reasonably necessary to protect its

“Contract terms will be considered ‘unfair’ if: it would cause a significant imbalance in the parties’ rights and obligations under the contract...”

legitimate interests and noted it could do so to increase profitability and not just because it needed to pass on an increase in costs.

In ACCC v Fujifilm Business Innovation Australia Pty Ltd 7 the Federal Court made declarations that 38 contract terms used in their contracts were unfair. These included automatic renewal terms, disproportionate termination terms, unfair limitation of liability terms, unfair payment terms and unilateral variation terms.

What are the consequences if a term is unfair?

There are a number of orders that a Court can make if a contract term is considered unfair, including declaring the term to be unenforceable, ordering damages for loss caused by the term and injunctions to restrain future use of the agreement.8

The maximum financial penalties for businesses under the new regime are significant and have now been substantially increased. The penalties are now the greatest of:

l $50,000,000.00;

l 3 times the value of the benefit (if the court can determine the value of the benefit); or

l if the value of the benefit cannot be determined, 30% of the adjusted turnover during the breach turnover period, with a minimum period of 12 months.9

What should Credit Managers do?

There are a number of fairly simple things that credit managers can do to ensure that their terms are compliant and do not breach of any of the new laws:

1. Check the date that the terms were last revised.

a. If it is prior to 2022, there is a good chance that:

i. the terms are out of date and have not been properly assessed to determine if they may be considered unfair; and

ii. the accompanying credit application is also out of date (for example

has it asked for director identification numbers to be provided)10

2. Check security for payment clauses are appropriate.

a. In Lobux Pty Ltd v Willshaun Pty Ltd [2022]

FCA 204, the Court considered that the manufacturer’s security clause, which charged all present and future property of the purchaser in respect of money owing by the purchaser, was an unfair contract term. This was because, when read together with other protections in the supply terms (such as preservation of ownership and rights of repossession where the price remained unpaid), the security clause was excessive and created a substantial imbalance of rights.

3. Clauses most likely to give rise to concerns of a breach of the unfair contract term provisions are:

a. clauses which provide unilateral rights to the supplier to change the terms of a contract at their absolute discretion;

a. clauses which provide for automatic renewals of contract terms; and

“There are a number of fairly simple things that credit managers can do to ensure that their terms are compliant and do not breach of any of the new laws...”

a. clauses which limit liability to one party but not the other, and/or exclude liability altogether, or include a one-sided indemnity clause

Takeaway

The new regime contains some very serious sanctions for offenders who continue to use terms that are unbalanced and over-reach. Suppliers should take action to review and update their terms as soon as possible.

*Allan Kawalsky MICM RITF Partner at Turks E: Allan.Kawalsky@turkslegal.com.au www.turkslegal.com.au

FOOTNOTES:

1 Treasury Laws Amendment (More Competition, Better Prices) Act 2022, s2.

2 Explanatory Memorandum to the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 (Cth), s2.16.

3 Ibid, s47.

4 Competition and Consumer Act 2010 – Schedule 2 The Australian Consumer Law, s24.

5 Explanatory Memorandum to the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 (Cth), s2.6.

6 Australian Competition and Consumer Commission v JJ Richards & Sons Pty Ltd [2017] FCA 1224.

7 Australian Competition and Consumer Commission v Fujifilm Business Innovation Australia Pty Ltd [2022] FCA 928.

8 Treasury Laws Amendment (More Competition, Better Prices) Act 2022, s24.

9 Competition and Consumer Act 2010 – Schedule 1 The Schedule version of Part IV, s45AG.

10 Australian Securities & Investments Commission, New ID requirement for directors, (Webpage, 1 November 2021) https://asic.gov.au/about-asic/ news-centre/news-items/new-idrequirement-for-directors/

2024 National Conference Evolving for Tomorrow: Crafting the Future Credit Team

Wednesday 16 to Friday 18 October 2024 – Melbourne Pullman on the Park Proudly sponsored by Equifax

AICM’s National Conference is where credit professionals meet to connect, update and further their understanding of best practices in credit management. The annual conference has been held for over 20 years and is Australia’s largest gathering of credit and finance professionals.

This year the conference was held in the fabulous cultural hub, Melbourne, at The Melbourne Pullman on the Park between Wednesday 16-18 October.

Premium Sponsor, Equifax’s Moses Samaha noted in his opening address that Equifax have been proud sponsors of the AICM Conference for 17 years. AICM are especially grateful for Equifax’s loyal support.

Thank you for all delegates who attended the conference and the exhibitors who supported us and contributed by sharing their knowledge and services, helping to shape the future of credit management.

And finally, our exceptional, expert presenters who shared valuable insights for delegates to assist in their professional growth, foster innovation, and drive impactful results within their organisations.

In the coming pages we cover some of the highlights of this year’s conference.

We look forward to seeing you all for an even bigger, brighter event next year at the J.W Marriott on the magnificent Gold Coast.

2024 CCE Lunch

We were very excited to be able to gather our Certified Credit Executives together for our CCE Lunch that is held annually during our National Conference.

This year, Dale Hannan, Managing Director at National Collection Services and Qld Council Member, proudly sponsored the event. His commitment to fostering excellence and leadership within the credit management industry is truly commendable.

During the lunch we presented our recertification certificates as well as celebrating our new CCE’s.

The prestigious Certified Credit Executive (CCE) designation represents the pinnacle of professional achievement for credit managers, highlighting their dedication to industry best practices and continuous improvement. Being a CCE is a great way to connect with your peers, share insights, and celebrate the remarkable contributions of certified executives.

The AICM boasts over 2,500 members, with 185 holding the CCE designation. Members can sit for the CCE exam upon earning 100 Continuing Professional Development points and meeting the

eligibility criteria. These points can be obtained through AICM training, webinars, and events.

If you’re interested in becoming a CCE, please reach out to one of your local Council representatives. We would love to see you all at the exclusive CCE Lunch next year on the Gold Coast.

certificates being presented

Recertification

by CCE Director, Lou Caldararo LICM CCE.

CCE lunch sponsor Dale Hannan MICM CCE with AICM CCE Director, Lou Caldararo LICM CCE.

CCE Dux 2024

Congratulations to Brigid Nichols MICM CCE from Woolworths Group

AICM were honoured to award Brigid Nichols MICM CCE Dux Certificate for 2024.

Brigid’s writing style adhered to the criteria and provided a detailed explanation of the process and outcomes of introducing a new system into the workplace, including the implementation of training and monitoring procedures.

Her comprehensive coverage included an outline and analysis of the issues, encompassing not only the new system and its functionality but also the development of a new procedure manual. Brigid ensured that all stakeholders were involved in the initial consultation process and continued to participate in the development of each stage, as well as in identifying the necessary resources.

This approach guaranteed that all resources were secured and in place before implementation began, and that the procedure manual was accurate, allowing for a smooth implementation process. A training program was then developed to meet timeline requirements and was effectively initiated and applied.

The monitoring of the implementation process

helped identify minor issues that required small adjustments to achieve the desired outcomes. In her presentation, Brigid utilised several highly relevant articles and published management books.

We congratulate Brigid on achieving this award.

Brigid Nichols MICM CCE receiving her CCE Dux Award with Lou Caldararo LICM CCE, AICM Director & CCE Chair.

Our new 2024 CCE’s.

2024 Credit Team of the Year

Congratulations to the Metro Finance Team

The National Credit Team of the Year Award (CTOY) is an opportunity for credit teams to be recognised for the outstanding work, results, culture and learning they undertake.

Since 2008, with the amazing support of Equifax, the Credit Team of Year Award has recognised the outstanding culture, skills and achievements of Australia’s leading credit teams.

The Credit Team of the Year Award winner was announced by Debbie Leo, General Manager Corporate Accounts, Equifax.

This year’s award was won by the Metro Finance Team who demonstrated exceptional achievements and a strong commitment to continuous improvement.

Proudly sponsored by Equifax

Credit Team of the Year runner up representatives Mary Owens MICM CCE and Vicky Reeves MICM from Cement Australia and Credit Team of the Year Winner representatives Kayla Epps and David Ciarleglio from Metro Finance.

And the winner is: 2024 Credit Team of the Year Award Winner representatives Kayla Epps and David Ciarleglio from Metro Finance.

They established a feedback loop with external stakeholders, incorporating monthly training and Q&A sessions to address pain points. Additionally, they successfully rolled out an e-signature process, enhancing the end customer experience. Their expansion of assessment procedures aligned with employer limits and benchmark checks on income and servicing, and they refined internal lending authority requirements. The team also collaborated with sales to ensure alignment with market best practices and expectations.

The reasons for their win include fostering a culture of continuous improvement by measuring the effectiveness of training and development, and demonstrating a commitment to rewarding, motivating, and developing staff. They showcased strong collaboration with external stakeholders to enhance the customer experience and developed a robust training program, encouraging team members to pursue both internal and external courses. Despite being a relatively new team, they evidenced a strong team culture through shared responses and experiences. This dedication to improvement, stakeholder collaboration, and a

strong internal culture made them deserving winners of the Credit Team of the Year award. Thank you to the 2024 Credit Team of the Year Sponsor Equifax and Judges: l Debbie Leo MICM, Equifax l Rhys Buzza MICM CCE, Reece l Jane Hay MICM, BGW Group.

Welcome Reception

Thank you to our welcome reception sponsors, Opypro, who have this year taken AICM members on a new journey by supporting the Member in Spotlight initiative.

The welcome reception was an opportunity to recognise the contributions of Debbie Leo MICM, Troy Mulder FICM CCE, Teena Ryan MICM, and Janice Thomason MICM.

Debbie Leo MICM from Equifax.

Dion Appel MICM, CEO of Opypro.

2024 Young Credit Professional of the Year

Hudson Pitt MICM from the Polygon Group, SA

2024 Young Credit Professional of the Year

Announced at the AICM President’s Dinner and Awards Night: Hudson Pitt MICM from the Polygon Group, SA.

The Young Credit Professional of the Year Award (YCPA) program is the largest and most prestigious Young Credit Professional Award in Australia. It provides a great opportunity for young credit professionals to gain recognition for both them and their employer. A huge thank you to our Sponsors, CreditorWatch and ARMA for supporting this award.

Congratulations to the State winners: l Vic/Tas: Amanda Rothwell-Hiscock MICM, Solicitor, Rothwell Lawyers Pty Ltd

Sponsored by CreditorWatch and ARMA Group

l Qld: Cailtin O’Dwyer Business Improvement Lead, Collections & Financial Assistance, BOQ

l NSW: Michael Grintzelis Chief Executive Officer, Australian Collections Group Pty Ltd

l WA: Greg Laycock MICM Insurance Broker, NCI

And to our National Young Credit of the Year Award Winner: Hudson Pitt MICM Operations Manager, The Polygon Group

The judges commented that Hudson is very knowledgeable and confident, and had a great understanding of his topic. He presented a great perspective of future and current changes in the field of credit management. Hudson demonstrated

YCP Award co-Sponsor Patrick Coghlan MICM, CreditorWatch with YCP National Winner, Hudson Pitt MICM and Andrew Smith MICM CCE, ARMA Group, co-sponsor.

that he had the knowledge to make significant positive impacts on his team and company. He is innovative and mature beyond his years and is clearly a future leader in the profession. Hudson

knows his business inside and out, and it’s clear that his partnership with his employer in his career development has enabled him to be a star in the profession.

Student of the Year

Congratulations Hayley Hawke MICM

We are thrilled to announce the recipient of the prestigious Student of the Year Award 2023-2024. This annual recognition celebrates outstanding academic achievement and practical application in credit management.

Hayley has demonstrated exceptional performance throughout her studies, consistently submitting work of the highest calibre. Her assignments not only showcased a deep understanding of theoretical concepts but also illustrated a keen ability to apply this knowledge to real-world workplace practices.

The AICM board and members congratulate Hayley for her dedication to her continuing professional development. As part of the award, the Student of the Year will receive: a $2,000 credit towards AICM professional development and educational courses, valid for 12 months from October

31, 2024. This prize underscores AICM’s commitment to fostering talent and supporting ongoing education in credit management. Congratulations to Hayley, we look forward to following her promising career in credit management.

For more information about the AICM Student of the Year Award or the Institute’s educational programs, please visit the AICM website.

Patrick Coghlan MICM CreditorWatch with YCP divisional Winners WA: Greg Laycock MICM, NSW: Michael Grintzelis, Qld: Cailtin O’Dwyer, Vic/Tas: Amanda Rothwell-Hiscock MICM and National Winner Hudson Pitt MICM and with Andrew Smith MICM CCE from the ARMA Group.

2024 Credit Professional of the Year

Flourence

Matimati MICM CCE

from Veolia Environmental Services, NSW

2024 Credit Professional of the Year was announced at the AICM President’s Dinner and Awards Night: Flourence Matimati MICM CCE

from Veolia Environmental Services, NSW

The AICM President’s Dinner and Awards Night was a memorable event, celebrating the dedication and achievements of credit professionals across the country. Held on Thursday, October 17th at the AICM National Conference in Melbourne, the evening highlighted the passion and commitment of the Australian Institute of Credit Management to support and elevate the industry.

illion supports the Credit Professional of the Year Awards to promote industry excellence,

Sponsored by illion

recognise exceptional talent, and foster growth and development. Their sponsorship underscores a long-standing commitment to the credit industry, celebrating the hard work and innovation of its professionals, and inspiring a culture of continuous improvement and professional development.

Representing illion, Cathy Gosling MICM (also a judge of the National Award) expressed the honour and prestige associated with the awards, emphasising the high standards upheld by AICM. She extended heartfelt thanks to all participants of this year’s Credit Professional of the Year Awards, noting the impressive talent and bright future of the industry.

Flourence Matimati MICM CCE, winner of the 2024 National Credit Professional of the Year Award.

Cathy Gosling MICM from illion with National Credit Manager of the Year Award Winner Flourence Matimati MICM CCE.

Special recognition was given to the divisional winners and national finalists, who stood out in a highly competitive field:

l Flourence Matimati MICM CCE

Veolia Environmental Services – NSW

A dynamic leader with 24 years of experience, Flo prioritises her staff and strategic financial decisions, contributing significantly to her company’s success.

l Darren Tran MICM MoneyPlace – VIC/TAS

Known for his innovative solutions and compassionate customer support, Darren leads his team with a focus on efficiency and personalised service.

l Mary Owens MICM CCE Cement Australia – QLD

Mary’s leadership has earned her team national finalist recognition, fostering seamless collaboration and a cooperative environment.

l Melissa Sharpe MICM Turner Engineering – WA

Melissa balances customer and business needs with strong policy focus and risk management,

sharing her knowledge generously with her team.

l Adrian Stewart MICM CCE

National Pump and Energy – SA

Adrian’s collaborative approach and curiosity drive continuous improvement, making him an asset to his team.

The highlight of the evening was the announcement of the Credit Professional of the Year. This prestigious award went to Flourence Matimati from Veolia Environmental Services, NSW. The judges were impressed by Flo’s energy, adaptability, and strong leadership, making her a well-deserved recipient of this honour.

The event also acknowledged the contributions of other judges, including Cathy Gosling MICM, Janice Riley MICM, and Lou Caldararo LICM CCE, who played a crucial role in the selection process.

The AICM Conference Awards Night was a testament to the exceptional talent within the credit industry and the ongoing support from organisations like illion, ensuring a bright future for credit professionals across Australia.

Barrett Hasseldine MICM from illion, Adrian Stewart MICM CCE, Darren Tran MICM, Mary Owens MICM CCE, Flourence Matimati MICM CCE and Melissa Sharpe MICM.

President’s Trophy

Congratulations to the 2024 President’s Trophy winner – South Australia.

This important award recognises the work of our volunteer division councils which is vital to how we meet our promise to members.

Each year the President’s Trophy is awarded to best performing Division during the AICM National Conference President’s Dinner and Awards Night.

The Award is based on several performance indicators including membership, financial performance, number of CCEs, council activity and participation rate. It is also an opportunity to recognise the outstanding contributions of AICM Divisional Councils represented below by their Presidents.

Sev Indrele MICM CCE (NSW), Stacey Woodward MICM CCE (Qld), Cheri Bowater MICM CCE (WA), Mary Petreski FICM CCE (Vic/Tas), Julie McNamara FICM CCE National President and this year’s winner Janice Riley MICM from SA.

Lisa Anderson FICM CCE, Clare Venema MICM CCE, Hudson Pitt MICM, Rob Jackson MICM CCE, Adrian Stewart MICM CCE, Cameron Henderson MICM, Alice Carter MICM CCE and Brianna Harris MICM and holding the President’s Trophy in the middle, the SA Division President Janice Riley MICM.

Speakers & Presenters

The AICM 2024 Conference brought together leading minds, experts, and innovators to shape the future of the credit industry under the theme, “Evolving for Tomorrow: Crafting the Future Credit Team.” This year’s event offered a dynamic lineup of speakers and sessions aimed at equipping credit professionals with the insights and strategies necessary for tomorrow’s challenges. Attendees experienced engaging discussions on emerging trends, regulatory updates, innovative credit solutions, and the transformative role of technology and AI in credit assessment and lending practices. Keynote speakers, including seasoned industry leaders, economists, and regulatory experts, shared insights into the evolving credit landscape, while breakout sessions delved into specialised topics like consumer credit, sustainable finance, technology advances, and the building of tomorrow’s credit teams. Some of the fantastic keynote session highlights included:

Day 1 – Chief Economist of HSBC, Paul Bloxham who was described as sensational, delved into the macroeconomic trends shaping today’s financial landscape and their implications for credit risk management. Attendees gained insights into the latest economic shifts – such as inflation, interest rates, and global trade dynamics – and how these factors are impacting both individual consumers and businesses.

Day 2 – A senior Member of Victorian police, Detective Superintendent, Geraldine Porter joined on Day 2 to share insights for credit professionals to help understand and minimise the threats posed from Cyber Crime. Geraldine, walked attendees through real world case studies offering a compelling look into the tactics us by cybercriminals and the vulnerabilities they exploit. She concluded with eight essential tips for safeguarding businesses against cyber threats.

Day 3 – Bruce Billson, Australian’s Small Business and Family Enterprise Ombudsman, comedic and engaging session” Small Business in

focus” helped attendees understand how recent, current and emerging pressures are impacting small business and uncovered practical tips to maximise engagement with their customers.

Panel discussions throughout the conference sparked thought-provoking conversations on managing credit risks in an uncertain economy, and on building agile, ethical, and forward-thinking credit teams. The event provided a valuable opportunity for professionals to stay current, engage with peers, and take-home actionable insights to shape the strategies, structures, and practices that will define future credit teams.

Bruce Billson, Australian’s Small Business and Family Enterprise Ombudsman.

Detective Superintendent, Geraldine Porter, Victorian Police.

Paul Bloxham, HSBC.

Susan Nicholson from Australia Post, Ben Adams from Visa, Jess Aloi from David Jones and Dion Appel MICM from Opypro.

President’s Gala Dinner and Awards Night

We extend our heartfelt gratitude to Blackline for their generous support and sponsorship of our President’s Gala Dinner and Awards Night. It was a fantastic evening of celebration, as our national conference brings us together once a year to learn, develop new skills, and network with like-minded professionals. The night was also an opportunity to recognise the incredible talent of our members and the invaluable contributions of our volunteers. The event was filled with fun, featuring a great band, inspirational speeches from award winners, and a delightful dinner. The dance floor was a hit, and everyone had a wonderful time.

Proudly sponsored by Blackline

Sponsors and Exhibitors

Thank you to our valued sponsors and exhibitors for their invaluable contributions to the 2024 AICM National Conference. Your expertise and insights are instrumental in advancing the credit profession, enabling members to achieve better business outcomes by staying abreast of innovative solutions and providing expert advice that significantly contributes to the success of businesses across Australia.

l Premium Sponsor: Equifax

l President’s Gala Dinner Sponsor: Blackline

l Welcome Reception Sponsor: Opypro

l CCE Lunch Sponsor: NCS

l VIP Lounge Sponsor: Results Legal

l Wi-Fi Sponsor: Rothwell Lawyers

l Access Intell

l AMPAC Debt Recovery

l AON

l ARMA Group

l Australian Tax Office

l Commercial Credit Services

l Cosyn Software Limited

l Credit Collection Services Group

l CreditorWatch

l Culturise

l DecisionOK by Credisense

l eMatrix

l Esker Australia

l Illion an Experian Company

l IODM

l Lockton

l Opypro

l Recoveries Corp

Sponsors and Exhibitors

western australia | northern territory

President’s report

Hello from sunny Western Australia, 2024 has been a whirlwind of a year with looking back over our highlights of our Economic Seminar at the Doubletree Northbridge, the 2nd Annual Golf Day at Collier Park Golf Course was doubled in teams attending.

Our 9th Women in Credit Luncheon was held at the QT with our Charity Partner Orange Sky Australia and our guest speaker Natalie Medhurst, former Australian netball captain. Natalie gave us an inspirational talk about the challenges of women in sport, the challenges of family life & motherhood and about the challenges of a professional career post sport.

Our Cybercrime & Fraud talk by the WA Police Department Detective Senior Constable Adam Bradley at the Doubletree Northbridge was one of the best talks we have had on this hot topic and the feedback was sensational from our attendees. The WA Division was well represented at the AICM National Conference in Melbourne at the Pullman on the Park.

Now we are looking to end 2024 with our Credit

Nexus at Espresso Prosecco Rooftop venue in Hay Street at London Court on the 5th of December. This is where we will be having networking opportunities, end of year celebration drinks as well as three dynamic Western Australian speakers on hand.

Cheri Bowater MICM CCE and WA YCP of the Year Greg Laycock MICM.

Cheri Bowater MICM CCE and WA CP of the Year Melissa Sharpe MICM.

Cheri Bowater MICM CCE and YCP Finalist Carole Aird.

western australia | northern territory

l Malcolm Field from SV Partners sharing with us about Small Business Reform and how that is all working in WA.

l Raff Di Renzo from Nova Legal giving us the latest in what’s happening out there in the Legal realm with regards to credit related issues.

l Jason Louis from BGC offering us insights on the construction and building industry and what his journey has been like from YCP of the year (a few years ago) to where he is now. Next year will be a new and exciting calendar of events, with the sharing of knowledge, and

networking opportunities whilst having a great time achieving both. We rely on our members to participate in the events we plan and like to hear from them about relevant subjects they would like us to address at AICM.

I look forward to being President of the WA Division Council for 2025 and wish everyone a safe and happy holiday season.

– Cheri Bowater MICM CCE WA Division President

Cyber Crime and Fraud Awareness Breakfast

In an informative session on the morning of 19th of September, the AICM hosted a breakfast event focused on cybercrime and fraud awareness at the Doubletree by Hilton in Northbridge, where members and guests gathered for an essential update on the latest cybersecurity threats. WA Police were invited as guest presenters, providing expert insights into the tactics that cybercriminals use to gain access to sensitive information and accounts. The event attracted credit professionals and business leaders interested in strengthening their cybersecurity practices. The session was designed to equip the audience

Celebrating our talented WA finalists at the WA Awards Night.

WA YCP of the Year Greg Laycock MICM with Sarah Bracegirdle MICM, Sonia Wester and Carole Aird MICM

western australia | northern territory

with knowledge to protect both personal and professional data from ever-evolving cyber threats.

The WA Police Cybercrime Division took centre stage, guiding attendees through the latest methods cybercriminals use to exploit individuals and businesses. They detailed common cyberattack tactics, sharing real-world examples of phishing scams, social engineering attempts, and ransomware attacks that have affected organisations across various industries. Tactics such as Phishing scams, Social Engineering tactics and Ransomware were discussed.

The AICM emphasises that protecting against cyber threats is a collective effort, requiring individuals and organisations alike to remain vigilant. Events like this breakfast session are vital in fostering awareness and providing the tools necessary to detect and protect us from cybercrime effectively.

WA Police’s Cybercrime Division is committed to protecting the public from cyber threats through investigation, prevention, and community education. They work with businesses and individuals across Western Australia to enhance cybersecurity awareness and respond to cybercrime incidents. For those who could not attend, the AICM encourages members to review WA Police resources on cybercrime prevention to stay updated on best practices.

The Australian Institute of Credit Management welcomes our Partners for 2024

Partners

Partners

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

WA members enjoying a night of celebration at the WA Awards Night.

queensland

President’s Report

Wow, what a year it has been! Blink and you’ll miss it – 2024 has flown by in a whirlwind of events, milestones, and achievements.

We held our AGM in August, bringing fresh faces and welcoming back some familiar ones. A big welcome to Danielle Green, Mandy Melvin, Carla Seirlis, and Dale Hannan – we’re thrilled to have you join the team! I’d also like to extend heartfelt thanks to our outgoing councillors: Merv Mahony, Zandalee McKenzie, Sam Goddard, and Ash Mason. Your contributions have left a lasting impact.

One of our biggest highlights was the Women in Credit (WINC) event held at the beautiful Calile Hotel. This year’s event was a complete sell-out, and I was honoured to serve as MC. I’m immensely grateful to everyone who played a role in the lead-up and on the day, with a special shout-out to QLD’s WINC Chair, Kirsty Gray. Her meticulous work on raffles and auction prizes helped us achieve a record-breaking fundraising outcome for QLD. Thank you to everyone who attended and supported this impactful cause – together, we made a difference for both Orange Sky and the AICM Education Foundation.

Last month, we represented QLD proudly at the annual conference in Melbourne, where almost the entire QLD council was on hand to cheer for our own Young Credit Professional (YCP) finalist, Caitlin O’Dwyer, and Credit Professional (CP) finalist, Mary Owens. Caitlin and Mary showcased incredible passion and professionalism, and we couldn’t be prouder of their achievements.

Looking ahead, I’m excited to reconnect with everyone at our upcoming end-of-year celebration – Credit Nexus. I hope to see you there as we wrap up another memorable year and look forward to what’s next!

– Stacey Woodward MICM CCE QLD Divisional President

WINC – Empowering Women Through Education

WINC is the event of the year were the tickets just about sell out quicker than a Taylor Swift concert in Queensland. This year was no different the AICM and Qld Council hosted its 9th successful WINC lunch in Queensland, bringing together industry professionals to celebrate achievements, share insights, and foster connections.

Maria Tisdell MICM from NCI (Brokers) Pty Ltd.

Another record breaking Winc Event in Brisbane.

Held at The Calile Hotel on 23rd August, the event attracted a diverse group of attendees, including council members, credit professionals, and emerging leaders in the industry. The atmosphere was vibrant, with conversations flowing as attendees shared their experiences and built new relationships.

Empowering Women Through Education was our theme for WINC this year and was a perfect fit for an inspiring keynote address by Natasha Janssens founder of Women with Cents. She told us her story of how she came to Australia with no support and learnt from experience, becoming an award winning accountant, mortgage broker, behavioural money coach and ex financial planner. Each year she helps thousands of women balance the challenge of motherhood, work and planning for their financial future. Her story engaged the audience with her firsthand experiences and

Carla Seirlis MICM, Lynne Walton MICM and Kirsty Gray MICM CCE.

Anna Taylor MICM.

Our wonderful WIINC Guests enjoying a day of celebrations.

Emma Purcival MICM CCE with Mary Owens MICM CCE and Leah Dinh MICM.

queensland

advice for managing finances and empowering women from all walks of life to be able to manage their own financial future. Natasha’s passion for supporting women to transform their relationship with money was evident during her time at the lunch. She selected some guests out of the audience to describe the different relationships that we can have with our finances.

The touch of orange that was around the room was a wonderful supporting this year’s charity partner Orange Sky Australia. Founded in 2014 in Brisbane by two 20 year old mates with a vision of transforming an old van into a mobile laundry, what started as a simple concept has evolved into something much more powerful. Providing free laundry facilities, warm showers and genuine, non-judgemental conversation to Australians experiencing homelessness and hardship. I was shocked to find out that 59% of people

experiencing homelessness were female with a high percentage of them being women aged 55 or older. It has certainly opened my eyes to the challenges that could affect any one of us at some stage in our lives.

Some of our lovely WINC guests.

The fabulous Boom Logistics Team.

Stacey Woodward MCIM CCE, Qld President and our MC for the day with Nina Ellingson from Orange Sky.

As always, the raffle in Queensland is always very well supported and this year did not disappoint. There were so many prizes this year donated by our sponsors and other friends of the AICM. We raised almost $10,000 supporting this year’s chosen charity Orange Sky and the AICM Education Foundation. As the event ended there was a buzz in the room from so many like-minded credit professionals, empowered by each other and our profession already looking forward to next year’s WINC lunch. It’s our 10 year anniversary, so keep an eye out for those tickets and get in quick.

New Councillors

Danielle Green MICM

Could you please confirm your current position and the company you work for?

I’m the Marketing Manager at Access Intell. We offer end to end credit risk management software, from online trade applications and assessment to PPSR and ongoing risk monitoring.

How long have you been a member of the AICM? Since I joined Access Intell earlier this year.

What position do you hold within the council? I have the Events portfolio.

What motivated you to become a council member?

I’m new to the credit space, so I thought this would be a great way to learn more about the industry, meet people, and hopefully add some value via my marketing skills. Everyone has been lovely and very welcoming!

How has being a member of the AICM benefited you personally or professionally?

I’ve been attending a lot of the webinars and special interest groups, which have been great to help me understand credit management better. Attending the QLD WINC Lunch and the National Conference were also great opportunities to network and meet a lot of people in person.

What are your favourite activities outside of your professional life?

I have two young kids, so I love spending time with my family and heading to the beach whenever I can.

Mandy Melvin MICM

Could you please confirm your current position and the company you work for?

Regional Credit Officer –Metal Manufactures Pty Ltd.

How long have you been a member of the AICM?  Since 2023.

Emma Purcival MICM CCE, Decia Guttormsen MICM, Julie McNamarra FICM CCE, Anna Taylor MICM, Abby Elsom MICM, Carla Seirlis MICM, Lynne Walton MICM and Kirsty Grey.

queensland

What position do you hold within the council?

Professional Development Portfolio.

What motivated you to become a council member?

I was eager to join to broaden my credit knowledge and for professional and personal growth. I am looking forward to more networking and expanding contacts.

How has being a member of the AICM benefited you personally or professionally?

Being a member has benefited me personally and professionally by giving me avenues to consider in study. I have completed my Certificate IV in Credit Management, and I am in the process of completing my Diploma of Credit Management.

What are your favourite activities outside of your professional life?

I am ocean lover! I spend every moment I can with goggles on and in a wet suit. I love nothing more than floating in the salt water.

Carla Seirlis MICM

Could you please confirm your current position and the company you work for?

Executive Director, Building Industry Credit Bureau.

How long have you been a member of the AICM?

30 years on 14 February 2025.

What position do you hold within the council?

Assisting Membership Portfolio.

What motivated you to become a council member?

My motivation to become a council member stemmed from a desire to continue giving back to the AICM, an organisation that has consistently supported the education of credit professionals and fostered valuable networking opportunities within our industry.

How has being a member of the AICM benefited you personally or professionally?

Being a member of the AICM has provided

invaluable support both personally and professionally. The connections I’ve made with fellow credit professionals have allowed me to seek advice and insights on various matters, helping me navigate unfamiliar situations with confidence. Additionally, AICM education keeps us well-informed about legislative changes, ensuring we remain up-to-date and compliant.

What are your favourite activities outside of your professional life?

Camping, fishing and hunting.

CCE Interviews

Ryan Archer MICM CCE

Please confirm your position/company you work for currently  Senior Credit Analyst for Powershop/Shell Energy Australia

How long have you been a member of the AICM?

I believe 4 years coming up in May 2024 (ish)

You recently completed your CCE, did you do the classroom exam or essay?  How did you find the experience?

I chose the essay format. Honestly, it was quite the journey! The combination of online questions and the essay really helped me take my time to prepare and plan my responses.

Would you recommend other members completing their CCE?

I recommend other members to complete their CCE for sure as it helps to enhance your professional skills and stay updated with industry trends.

What has being a member of the AICM done for you?

Being a member of the AICM has significantly enhanced my learning. Having access to resources, workshops, seminars and industry publications, help to keep me informed and skilled in the latest credit management practices. The AICM has given

me a sense of community and support which is invaluable in my career growth.

What are your favourite things to do outside of your profession?

Outside of my profession, I love to travel and explore new places. I also enjoy spending quality time with my dogs and my partner.

Ashley Leslie MICM CCE

Please confirm your position/company you work for currently

My position is Director in the Restructuring & Recovery division at Vincents. I am a Registered Liquidator and a Registered Trustee in Bankruptcy.

How long have you been a member of the AICM?

I have been a member of the AICM for 5 years, since May 2019 but have been attending events now for around 7 years.

You recently completed your CCE, did you do the classroom exam or essay?  How did you find the experience?

I did the online exam & essay version. I found the whole experience quite enjoyable. As I’m not from a credit background directly (being an Insolvency Practitioner), I had the opportunity to learn a lot more detail about a different, but related industry to my own. It helped to see things in my world, from another perspective. Reading the various articles in the magazines – I never knew the credit industry had so many acronyms!

Would you recommend other members completing their CCE?

Yes, absolutely! The CCE is the most important designation in the credit industry. Those who have undertaken the course have seized the opportunity to acquire in-depth knowledge and skills that can help them manage credit risk more effectively, understand complex financial environments, and enhance their professional credibility. Overall, it’s a solid investment in professional development for those in the credit industry.

What has being a member of the AICM done for you?

Being a member of the AICM has introduced me to so many great people. They are all experts in their fields and bring with them a wealth of knowledge from so many and varied industries. I enjoy attending events and hearing about the trends and happenings in different parts of the economy and how they are being innovative to overcome unique challenges their businesses face.

What are your favourite things to do outside of your profession?

I have 2 children under the age of 9, so my time outside of the workplace is almost entirely taken up by them! However, I do get a couple of hours most evenings to catch up on some of my favourite Netflix shows. Whenever possible, I also enjoy going out to try different restaurants and wandering around craft markets.

The Australian Institute of Credit Management welcomes our Partners for 2024

south australia

2024 AICM National Conference Highlights

The 2024 AICM National Conference was held from Wednesday 16th October 2024 to Friday 18th October 2024 at the Pullman Melbourne on the Park. This annual event is the largest gathering of credit and finance professionals in Australia, providing a platform for networking, learning and sharing best practices in credit management.

The conference featured a variety of sessions. It was a fantastic opportunity for credit professionals to stay updated on industry trends, connect with others, and gain insights to enhance their credit management skills.

Hudson Pitt MICM, Operations Manager (Polygon Group) was the winner of the National YCP Award this year. Hudson has demonstrated leadership and innovative approach to credit management. This award gives the opportunity for young professionals like Hudson to gain recognition.

Adrian Stewart MICM CCE, Credit Manager (National Pump & Energy) was 1 of the 5 finalists for the Credit Professional of the Year award. Adrian was recognised for his contributions to the credit industry, leadership qualities and innovative approach to credit management.

Janice Riley, the National Credit Manager

(Bridgestone) was honoured to receive the prestigious Presidents Award this year on behalf of the SA Division. Janice has made significant contributions to the credit management profession, it honours her dedication, professionalism and impact within the industry.

The conference continues to be an enriching experience for all attendees, providing valuable insights and connections that can drive professional growth and success in the credit management field.

Celebrating Excellence – SA AICM YCP & CP Awards

The SA AICM hosted its annual Young Credit Professional and Credit Professional Awards night at the Terrace Hotel in Adelaide on 29th August 2024. The event was a night of celebration, networking and recognition of the outstanding achievements of the young credit professionals and Credit Professionals.

The attendees had the opportunity to mingle with the 2024 finalists and witness the crowning of the SA Champions who went on to compete at the National Conference in October 2024.

The YCP of the year award is a prestigious youth credit award, providing a platform for professionals to gain recognition for their contributions to the industry.

The division finalists for YCPA were Elizabeth Dobbie (NCI), Jamie Mead (Oracle Insolvency Services) and Hudson Pitt (The Polygon Group). The

Adrian Stewart MICM CCE being awarded the 2024 SA Division Credit Professional of the Year.

2024 National YCPA winner Hudson Pitt MICM & Janice Riley MICM with the 2024 Presidents Trophy that was awarded to SA.

winner of the YCPA went to Hudson Pitt who works as an Operations Manager. He was recognised for his exceptional contributions to the credit industry.

In addition to the YCPA, the event also honoured experienced Credit Professionals who have demonstrated professionalism, skill and dedication throughout their careers.

The Credit Professional finalists were Lisa Anderson (Coopers), Troy Hills (Total Building Services) and Adrian Stewart (National Pump & Energy). The winner of the Credit Professional award went to Adrian Stewart who works as a Credit Manager. He was recognised for his leadership and dedication to his team and extensive knowledge and passion for the credit industry.

The night was filled with laughter, applause, and congratulations as winners were announced.

The SA AICM Young Credit Professional & Credit Professional Awards Night continues to be a highlight each year.

A Night of Trivia Triumph: AICM Adelaide Quiz Night 2024

The West Torrens Birkalla soccer club was buzzing with excitement on Thursday 8th August 2024 as it hosted the AICM SA 2024 Trivia night.

This event a highlight in the Adelaide social calender, brought together a mix of credit management professionals, friends and family for an evening of fierce competition, camaraderie and entertainment.

Everyone faced a range of challenging questions that tested their knowledge across various topics, not only Credit!

National Credit Professional Finalists on stage at National Conference.

SA Division Council members celebrating being awarded the 2024 Presidents Trophy.

south australia

were

Teams vied for the top spot, motivated by the promise of bragging rights and fantastic prizes. The success of the quiz night was a testament to Lisa Anderson & Elizabeth Dobbie’s dedication ensuring a seamless and enjoyable experience for all attendees. As the night ended, everyone left with a smile, new connections and shared anticipation for next year’s event. The AICM SA Trivia night continues to be a great example of how events can be a blend of learning, networking and fun.

Hudson Pitt:

Shaping the Future as 2024’s Young Credit Professional of the Year

What motivated you to pursue a career in credit, and how did you get started in the industry?

While studying for a Bachelor of Business at university, I worked part-time in the warehouse of the organisation I still work for, The Polygon Group, a

consumer leasing business that rents out various types of equipment, from musical instruments to cameras. Towards the end of my degree, I took the opportunity to undertake an internship, shadowing some of the leadership team within the organisation. Following this period, I was offered a full-time role, heavily involved in credit assessment and operations. After some time, I pursued my Certificate IV in Credit Management through the AICM and began my journey into the world of credit. Years later, I now manage our credit assessment, credit collections, customer service, and procurement departments.

What accomplishment are you most proud of in your career so far?

Over the past year, I have worked on building and implementing innovative credit assessment software for the business. The outcome has been highly beneficial for both the operational and financial performance of the company, while also creating a much more enjoyable and fulfilling environment for our assessment team.

Guests enjoying dinner during the trivia night.

SA Trivia guests.

Some great prizes that

on offer at our trivia night.

SA Trivia Night.

Delivering a system with our development team that benefits both the business and its staff has been extremely rewarding. This achievement was a key contributing factor to my recent success in the National Young Credit Professional Awards. Winning this competition was a wonderful surprise, given the calibre of the finalists, and it is a great privilege to be the 2024 winner.

What skills do you believe are essential for success in credit management today?

Having a foundational understanding of the regulations that govern operations within the credit industry provides an excellent foundation for success. I have also found that questioning the status quo within your organisation can often yield highly positive outcomes for everyone involved. The credit industry has evolved rapidly in recent years, creating a valuable opportunity to question why and how we do things, allowing us to innovate and grow.

What advice can you give to emerging credit professionals?

As the credit industry grows and evolves, there are countless opportunities for younger team members to make a positive impact. Working within SMEs in a credit role offers a unique chance to contribute not only to the organisation but also to the broader industry by bringing in a fresh perspective. I encourage emerging credit professionals to invest in understanding the wider credit industry and consider how this knowledge can benefit their own organisation.

What has been your biggest professional challenge to date?

Over the past year, I have taken on the management of several teams within the business. Each team has unique functions and objectives, which have historically been at odds across departments. One of my biggest challenges has been to foster greater transparency and understanding across departments to create a more cohesive environment and support individualised decision-making that aligns with broader business objectives. While this effort has already led to substantial improvements in cohesion and performance, it remains a work in progress and requires a significant shift in both team and individual mindsets.

south australia

What do you do for fun?

In my spare time, I dive into endurance sports, from Ironman triathlons to ultramarathons. I love the thrill of signing up for races I’ve never tried before, not knowing if I’ll make it to the finish line. Endurance training is this constant mix of physical and mental tests, and that’s exactly what keeps me coming back. Basically, I just really enjoy exercising for ridiculously long amounts of time!

What was the highlight and the overall experience at the AICM conference this year?

Winning the YCP award was definitely a conference highlight! But honestly, one of the best parts was getting to meet and hear from some real trailblazers in the industry. It was so cool to learn what businesses at the cutting edge of credit are doing, and I’m excited to bring some of those ideas back to my own team to help us grow.

The Australian Institute of Credit Management welcomes our Partners for 2024 National Partners

Official Division Supporting Sponsors Divisional Partners

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

victoria | tasmania

President’s Report

As we reflect on the last three months, I would like to express my gratitude to everyone who was able to join us at the AICM Conference in Melbourne. The event was a tremendous success, showcasing outstanding content and offering invaluable insights. Thank you to all who participated and helped make this conference memorable.

A special congratulations to our very own Brigid Nichols, CCE Dux winner, who’s accomplishment highlights the commitment to advancing professional standards within our field.

Additionally, congratulations to the YCP Winner and CP winner for 2024. Your dedication and excellence in the credit industry is inspiring and we are all very proud of your achievements.

Next year promises to bring exciting new opportunities within the VIC/TAS council. We have already began planning some engaging events, so be sure to keep an eye on our events page on the AICM website.

Furthermore, we welcome your input and feedback into topics that you would like to know more about and experts that you would like to hear from.

As 2024 comes to a close, I would like to extend my warmest wishes to each of you. May you have a joyous festive season and a safe, prosperous start to the New Year as we head into 2025 together.

– Mary Petreski FICM CCE Vic/Tas Division President

Darren Tran MICM was named the VIC/TAS Credit Professional of the Year by illion’s Craig Brooks MICM.

VIC/TAS YCPA winner Amanda Rothwell Hiscock MICM.

Guests enjoying the VIC Awards Night.

victoria | tasmania

Member in spotlight

Jeff Hurst LICM CCE

A distinguished life member of the institute with a career in credit spanning decades, Jeff Hurst has contributed immeasurably not only to the growth and development of the credit management industry and trade credit bureaus, but also to the AICM itself as a member, councillor and a director. His wealth of knowledge, coupled with his unwavering dedication, has left an indelible mark on both the AICM and its members. Now enjoying his retirement, Jeff agreed to sit down with us and share insights from his extensive career, reflecting on the changes he has witnessed, the challenges he has navigated, and the wisdom he has gained along the way.

Jeff, can you tell me how you first got into the credit industry?

It’s actually a funny story. I finished school in 1971 and was planning to start a course in land valuation in early 1972. But then my uncle, who worked at Golden Fleece Petroleum, mentioned an entrylevel position in their credit department. He suggested I take the job just for a few months until my course began. Honestly, I didn’t know what “credit” really involved – it was completely foreign to me. But I went for it, got the job, and, as it turns out, I ended up staying there for ten years. So, I never went back to study Land Valuation after all!

So, you stayed in credit! What was it like working in the credit industry back then?

It was a totally different world compared to today. When I started in 1972, there were no computers – everything was handled manually. Our credit

Andrew Hedge from Creditorwatch and Michelle Carruthers from ARMA Group with the VIC/TAS YCPA Finalists.

Craig Brooks MICM from illion with VIC/TAS Credit Professional of the Year finalists Darren Tran MICM, David Haysom MICM CCE, Paul Canavan MICM CCE & Tony Truong MICM.

victoria | tasmania

department at Golden Fleece had about 120 people, and we worked with printed ledger forms for all transactions. Payments from different states would come in, and our teams were divided by region. New South Wales and Victoria had the most business, while smaller teams managed the other states. Every morning, we’d go through the process of marking payments on ledgers by hand.

Then, in 1981, Caltex took over Golden Fleece. We were instructed by Caltex not to do any work, and all the mail and records were sent directly to Caltex in Sydney. For about six months, we just clocked in and out with little to do. It got so boring we’d end up playing cards or even heading to the pub just to pass the time!

Where did your career take you after leaving Golden Fleece?

I moved around a fair bit. After Caltex, I joined Preservatrice Scandia, a Scandinavian-French insurance company. That kept me in credit but introduced me to the world of reinsurance. I stayed with them for three years before moving on to Carborundum Abrasives in Thomastown. I left there and joined Van Leer, a packaging company that made egg cartons and fruit trays. In 2000, Huhtamaki acquired that company and offered me a job in Sydney, but I declined and accepted a redundancy payout instead.

I then spent 15 years with Scalzo, a food supplier in Kensington that provides ingredients to major brands. In 2016, I took a new turn by buying into a trade bureau, where I oversaw credit across 17 industries, from retail to sports. I chaired the

bureau meetings and assisted members in better understanding credit & how better to deal with their customers in areas like PPSA.

You’ve witnessed significant changes in the credit industry over the years. What stands out as the biggest shift?

Technology, without a doubt. When I started, everything was done manually on paper. Today, everything’s digital, and credit checks happen in real time. Back then, we used Dun & Bradstreet and Credit Reference Australia (now Equifax) for credit checks, and one of the first “tech” advancements I remember was dialling into a system with a modem to get a credit report – primitive by today’s standards!

The arrival of online reporting and the Personal Property Securities Register (PPSR) has been transformative. Yet, I’m still surprised how many organisations don’t take advantage of the PPSR. For just a few dollars, it can make a huge difference if things go south.

How has the Australian Institute of Credit Management (AICM) changed since you joined?

It’s evolved a lot. Back in the day, it was more of a “boys’ club” where we’d meet for dinners and drinks. Over time, we scaled that back, held more remote meetings, and shifted our focus to education and business practices. In my later years on the board, AICM transitioned from a statebased structure to a centralised organisation. That wasn’t popular with everyone – especially Victorians, who had to give up control of valuable

Our fabulous MC Brigid Nichols MICM CCE, VIC/TAS YCPA winner Amanda Rothwell Hiscock MICM, Mary Petreski FICM CCE Vic Division President and VIC/TAS CP winner Darren Tran MICM.

VIC/TAS YCPA finalists Amanda Rothwell-Hiscock MICM, Annabel Darvall, Eloise Cowan MICM & James Short MICM.

assets. But in the long run, it made AICM stronger and more professional, helping it gain recognition from government bodies and better align with the insolvency sector.

What would you say are the main benefits of being an AICM member?

Networking and education are probably the biggest advantages, especially for staying on top of legislation changes. I still train on the PPSR because there are always new developments to keep up with. Conferences are valuable, too; even if not every session applies directly to you, you’re guaranteed to walk away with useful insights. Since joining in 1988, I’ve only missed one conference –in 1994. And hearing from others in the industry, comparing notes, and learning about future trends is invaluable.

How do industry credit groups, like trade bureaus, benefit businesses?

They’re incredibly valuable for comparing notes, seeing industry trends, and sharing best practices on risk management. Members can evaluate how their collections stack up against others, which provides great insights. Trade bureaus aren’t like commercial credit agencies– they’re more about sharing honest, real-time information within a trusted network. Toward the end of my credit career, I stopped relying solely on trade references, as they were often just close partners. Trade bureaus, on the other hand, offered more reliable, practical insights.

I believe sharing knowledge benefits everyone. While some organisations choose not to share, I’ve found that participating and sharing insights often pays off. I believe collaboration is essential for effective risk management.

What advice would you give to someone new to credit?

Education is crucial. Joining industry organisations like the AICM, attending webinars, and going to conferences can provide a solid understanding of credit, whether consumer or commercial. Personally, I didn’t gravitate toward consumer credit due to the hardships involved. Networking is also essential, though newer professionals don’t always see the value. But trust me, it’s incredibly useful in this field.

victoria | tasmania

What have you been up to recently?

I just got back from a road trip. We travelled along the Oodnadatta Track, from Marree to William Creek, then went all the way to Kings Canyon. We covered about 10,000 km my brother-in-law joined me in Broken Hill. Last year, I went to Cape York, right up to the tip, and I’m already planning my next trip, maybe to the Mundi Mundi Concert in Broken Hill. I play golf when I can, though I can’t say I’m getting much better! I’ve got a golf weekend coming up, which I’m looking forward to. It keeps me busy and is always good fun.

We wish Jeff all the best with his retirement!

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

The Australian Institute of Credit Management welcomes our Partners for 2024

National Partners

Divisional Partners

Official Division Supporting Sponsors

new south wales

Celebrating our amazing CP and YCP finalists.

President’s Report

Another National Conference has come and gone, and what a conference it was well done VIC for putting on a showcase.

A special highlight of the conference was celebrating our New South Wales member, Flourence Matimati MICM CCE, who won the prestigious Credit Professional of the Year Award. Her dedication, hard work, and commitment to excellence made her a deserving recipient of this accolade. Her achievements set a standard within our field and serve as a source of inspiration for us all. Thank you to illion who sponsor this award and showcase the best of the best around the country.

A big congratulations to our NSW YCP finalist Michael Grintzelis on your accomplishment, you should be very proud. Thank you to ARMA &

CreditorWatch for sponsoring this award. Thank you for your continued dedication to AICM and for making our community stronger with each event and accomplishment.

– Sev Indrele MICM CCE

NSW President

NSW Awards Night

The 2024 NSW Awards Nights was held on 8 August at the QVB Tearooms in Sydney. As usual it was spectacular. The Awards Nights started with a full entrance hall of delegates catching up with colleagues, friends and meeting new people across the credit industry. There was an exciting atmosphere that continued throughout the night.

Theresa Brown, one of the AICM board members and NSW councillor welcomed guests

Congratulations to our NSW YCP Finalists: Henali Kumar, Arian Bahmiyari MICM, Alexander McNeill-Bate, Michael Grintzelis, Maja Dunimaglovska MICM, Jenn Doan MICM and Shaun Ellem.

Celebrating Membership milestones Christopher Hadley MICM (5 years), Robert Byrnes MICM (5 years) and Patrick Coghlan MICM (10 years).

new south wales

and made special mention of the Fellows (FICM) and Life Members (LICM) in the room being; FICMs Nikola Razmovski, Nicolas Pilavidis, Troy Mulder, Julie McNamara and LICMs Andrew Le Marchant and Joe Laban.

With much excitement the board recognised the efforts of Malcolm Poslinsky from EDX for his dedication to the AICM and Credit Industry. Theresa mentioned his pioneering efforts on PPSR that have helped shape the industry. Malcolm was elevated to a Fellow Membership (FICM). He was invited on stage and was clearly appreciative of the recognition. Malcolm congratulated the AICM under the leadership of Nicolas Pilavidis for making the AICM the best organisation of its type with fantastic events and development opportunities for its members.

The event then progressed to recognising

Congratulations to Malcolm Poslinsky FICM CCE for becoming a Fellow of AICM with NSW President Sev Indrele MICM CCE.

Steve Brown MICM from our Credit Professional Award Sponsor illion and Flo Matimati MICM CCE the NSW CP of the year champion.

Congratulations to the NSW YCP winner: Michael Grintzelis Chief Executive Officer Australian Collections Group Pty Ltd.

Congratulations to our NSW CP Finalists: Shane Fink MICM, Frank Kemp MICM, Georgia Barbera MICM CCE, Steve Brown MICM, Flourence Matimati MICM CCE, Nikola Razmovski FICM CCE, Susan Day MICM CCE.

new south wales

membership milestones and thanking our sponsors. Sponsorship of the Young Credit Professional of the Year by ARMA and CreditorWatch along with illion, the sponsor of the Credit Professional of the Year is appreciated by all AICM members. As is the National Partners – Equifax, illion, Turks, CreditorWatch and the newest National Partner, Decision OK. We also thank the Division Partners AMPAC, Esker and Onguard.

Following dinner, the ARMA and CreditorWatch representatives – Charles Kinsella and David Jovanov reiterated their support of the YCP awards.

They spoke about each of the finalists. They were Alexander McNeill-Bate, Jenn Doan, Michael Grintzelis, Arian Bahmiyari, Henali Kumar, Maja Dunimaglovskia and Shaun Ellem.

The winner was announced – Michael Grintzelis, CEO of Australian Collections. Michael graciously accepted this award and thanked his family, the sponsors and his mentors.

Dessert was served and the room was busy with networking and raffle ticket sales. Then the illion representative Steve Brown announced the Finalists for Credit Professional of the Year. This year the CP finalists were Flourence Matimati, Frank

Celebrating Membership Milestones: Shane Fink MICM (20 years), Malcolm Poslinsky FICM CCE, Theresa Brown MICM CCE (15 years) Nick Pilavidis FICM CCE (20 years), James Van Poppel MICM CCE (25 years).

Peter Morgan FICM CCE, Flo Matimati MICM CCE, David Mansfield and Michael Gerondis.

new south wales

Kemp, Shane Fink, Nikola Razmovski, Sue Day, Marie Fellows and Georgia Barbera.

The winner was announced – Flourence Matimati, National Credit Manager of Veolia Australia and New Zealand. Flo was delighted to receive this recognition and was excited to share the moment with everyone. She gave a lovely acceptance speech, and it was smiles all round.

Little did we know a month later Flourence would win the national award.

We look forward to repeated success next year.

NSW Credit Nexus

The 2024 NSW Credit Nexus took place at Deloitte’s Parramatta office on 7 November 2024.

Kicking off the event, Tom Harding, an esteemed economic speaker and senior economist at Deloitte, delivered a highly engaging economic presentation. Renowned for his expertise in global economic trends and financial forecasting, Tom provided valuable insights into the current economic landscape. He highlighted key data on housing approvals versus builds and analysed insolvency trends across industries, offering attendees a comprehensive view of the market. The following Q&A session was interactive and informative, adding depth to his presentation.

After Tom’s presentation, NSW Council Vice President Andrew Tanna facilitated a dynamic panel discussion featuring distinguished guests from diverse industries. The panel included Peter Morgan, Founder & CEO of Byron Thomas Recruitment; Florence Matimati, National Credit Manager for Veolia Environmental Services; David Mansfield, Partner in Turnaround and Restructuring at Deloitte Australia; and Michael Gerondis, a professional fraud risk management consultant with extensive experience as a Detective Inspector in the NSW Police Fraud Squad. The

Tom Harding from Deloitte, our host for the evening, providing an economic update.

Joe Laban LICM CCE celebrating 40 years of Membership, Treacy Sheehan MICM 25 years and Michelle Abrahams MICM 10 years. Congratulations!

Congratulations to Hayley Hawke MICM, the National Student of the Year.

new south wales

panel discussion provided a broad and insightful perspective on credit management trends and outlooks, with engaging, well-flowing questions that brought the conversation to life.

During the Recognition Segment, NSW Council President Sev Indrele presented several tenure certificates and awarded Peter Morgan a Fellowship with the AICM, honouring his longstanding dedication and contributions. Flourence Matimati was also celebrated for winning the Credit Professional of the Year award at the Melbourne conference, receiving a trophy and commemorative plate – both well-deserved recognitions.

The evening concluded with canapés and drinks in Deloitte’s stylish office on the 37th floor in Parramatta, wrapping up the last event of 2024 on a high note.

AICM Member in Focus

In this edition we interviewed our finalists for the Credit Professional and Young Credit Professional awards. The interviews were conducted before the national round was held at the Melbourne Conference.

The NSW team was proud of both candidates and blown away to see Flourence win the National Credit Professional of the year award. Well done!

Flourence Matimati MICM CCE, affectionately known as Flo

Please confirm your current position and company.

I currently work as the National Credit Manager for Veolia Environmental Services.

What has been your career journey?

I started my career in operations, never imagining I would end up in credit management. I grew up in a small village in Zimbabwe, where my family relied on farming and cattle herding. My first professional role was as an assistant accountant in a manufacturing business in Zimbabwe. One day, a colleague, who later became a good friend, mentioned the career opportunities available overseas. Due to the poor economic situation and lack of opportunities for my career I considered this. Inspired, I explored emigration options and applied for a visa to Australia. I arrived on July 6, 2000, without a job but quickly found one as a credit officer and assistant accountant at Cabcharge Australia Limited.

Over the years I had grown personally, and my family was growing. We wanted to buy a home and as it was more affordable, we moved to Perth in

Credit Nexus audience.

2006. Whilst in Perth I took up Credit Management roles with several companies (Coventries, Bucyrus/ Westrac, Programmed Integrated Workforce). In 2013, I accepted an offer from BHP to work in financial accounting, reporting, and receivables. It ended after four years when my team was moved to Malaysia. I was made redundant, but I stayed for three months to train the new team. It was important to successfully set-up the new team and this gave me valuable experience.

My next role was at Downer as the Group AR Lead, which saw me relocate back to Sydney. I was managing accounts receivable for teams in Sydney, WA, and Melbourne. This was a pure AR role and I enjoyed it but again, after four years, decentralisation happened, and I had to look for other opportunities elsewhere.

From there, I joined Samsung as an AR Manager/Business Partner, where I worked for 16 months before joining Veolia. This is my first role in the Ecological Transformation industry. I joined just as Veolia was launching a new system integration for customer management and billing, and I assisted to guide the transition to Salesforce and SAP for reporting. The team is situated in two locations Pyrmont and Arndell Park.

One of the biggest challenges has been building a cohesive team after previously working with decentralised teams across various states. I had to oversee the transformation of the team, which included hiring National Credit Supervisors and National Credit Controllers. Initially, we faced turnover issues, but by early 2024, our team structure was finalised, and retention has improved significantly.

What is your biggest professional accomplishment to date?

My biggest professional achievement is building a unified team structure that effectively supports our customers. I was instrumental in selecting candidates and consolidating various applications into a centralised system. Transitioning from decentralisation to centralisation has significantly improved our operations.

What advice would you give to emerging credit professionals?

Pursue your dreams, even if it involves risk. Embrace challenges and the unknown, as they

new south wales

foster resilience. The credit industry will push you to confront your fears, and through that, you’ll grow stronger, not just out of desire, but necessity. Network actively, seek mentorship, and continually invest in your education. Remember, your experiences, both successes and setbacks will shape you into a stronger and more capable professional.

How long have you been a member of the AICM? I became a member in 2011.

What has being a member of the AICM done for you?

AICM membership has been transformative. It has given me access to valuable resources, such as industry updates, best practices, and networking opportunities with other credit professionals. It also offers access to education and certification programs, which helped me sharpen my skills and stay updated on regulatory changes and market trends. Moreover, the credibility and recognition associated with being part of a respected organisation like AICM have enhanced my professional reputation and opened doors for career advancement. Early on, my manager encouraged me to participate in networking events and WINC, which helped me secure my role at BHP. This exposure inspired me to assist others in the industry and pursue a Diploma in Credit Management in 2011, culminating in becoming a Certified Credit Executive (CCE) in 2016.

What are your favourite things to do outside of your profession?

I enjoy singing in my church choir and composing songs, which provides a fulfilling way to unwind. Additionally, I cherish spending time with my 3 children and 2 grandchildren. I often attend my 10-year-old son’s soccer practices, staying updated on the EPL through his favourite player, Erling Haaland.

Why do you think the judges selected you for the NSW Credit Professional Award?

The judges likely selected me for my expertise in Credit Management, my resilience and adaptability within the industry. My effective team management and leadership approach, balancing strength with vulnerability which make me relatable and approachable. The ability

new south wales

to handle complex credit scenarios, maintain strong relationships with clients, and implement innovative strategies may have contributed to the recognition. I hope this resonated with the judges.

Michael Grintzelis

Please confirm your position and the company you work for currently.

I’m the CEO of Australian Collections Group.

Can you share your career journey?

After leaving high school, I started university but quickly realised it wasn’t for me. I was studying a Bachelor of Commerce and Mathematics but wanted to leave before completing it. I reached out to my working friends, and one was working for Andrew Smith at a debt collection business. He told me about the open position for a Collections Officer. It was a tough decision for my family, but I went ahead and left university to join the workforce.

Within six months of working at Australian Recoveries and Collections I had gained a solid understanding of high-volume consumer debt. But then when Andrew left to form ARMA Group with Shane Ashton who I worked alongside with, I jumped ship to continue working with them.

I was one of the first four team members at ARMA. Over the next 7-8 years, we grew the business significantly. I started as a collector and moved up as the business expanded.

I soon managed people, then transitioned into a consumer team leader role, overseeing a team of six. Within 1.5 years, I was managing 25 employees in the consumer recoveries department.

As the business evolved, I shifted into an operational role, focusing on streamlining processes, automation, and solving client issues. My role became more flexible – wherever the business needed me, I was there, ensuring optimal performance for each client. Many of our clients grew alongside ARMA, and we formed longstanding partnerships.

After ARMA was acquired by Credit Clear, I helped integrate and streamline processes, introducing digital recovery solutions. We had a tight two-month deadline to transition to digital

operations, which proved incredibly beneficial. Once we launched, the tech solution delivered immediate results, and I stayed on for another year before deciding it was time to go out on my own.

I always had the goal of starting my own business, and the timing felt right. ARMA had grown to a business with 200 employees, but I wanted to return to the family atmosphere of a smaller company. Working with Andrew and the team was a great experience – it never felt like work, and I learned a lot from him about managing people.

In May 2023, I registered my own company, officially starting operations on July 1, 2023. With no sales experience, the first year was all about finding clients. I am out there seeking new business from those that don’t yet use debt collection rather than trying to win-over clients using my existing network from my earlier role. This is incredibly important to me as I want them to be seen as complementary service rather than a competitor.

I landed my first client with a $60,000 debt in liquidation, which unfortunately resulted in zero recovery, but I learned valuable lessons about the speed and research needed in the construction industry. Slowly, I started to sign more clients and build the business. Now, I have over 150 clients, an employee working with me and am focusing on growth.

Many small businesses have come to me after being dropped by larger agencies, who don’t see their debts as commercially viable. I focus on recovering what’s often left on the table, providing a solution for businesses that feel overlooked by the big players. I think our target of small to midsized businesses is a market often overlooked by larger agencies. They aren’t designed around these clients’ needs the way we are. We can offer a better service at a more reasonable cost by leveraging our strengths in process automation. That had been my strength in my earlier role and within two weeks of starting this business I had built our core systems. It’s been a matter of fine-tuning it based on client needs since then. As the business grows, I continue to refine what works best, and while there’s still trial and error, things are progressing well. I’m building relationships with others in the industry such as insolvency practitioners. I am learning from them and constantly pushing myself out of my comfort zone.

In the coming year, I aim to grow the business,

hire more employees, and expand the client base, focusing on a consistent referral-based model. I don’t see myself moving into the large corporate or banking sectors as I want to stay focused on the small to middle market, which I believe is underserved.

What has been your biggest professional accomplishment to date?

Starting my own business and winning the Young Credit Professional (YCP) award are both key achievements which have been quite recent.

Running my own business has given me the freedom and flexibility I’ve always wanted. One of my proudest moments was collecting my first debt and earning my first commission – it validated all the hard work I put into setting up the business.

The YCP award is a big recognition, especially for someone under 30. It highlights the importance of nurturing young talent in the industry, which is something I’m passionate about. I’ve been fortunate to have great mentors like Andrew Smith, and I want to pass on that experience to the next generation.

What advice would you give to emerging credit professionals?

Stick to the basics, but stay up to date with technology, compliance, and regulations. Managing consumers with respect and empathy is essential in this environment. Positive, nonthreatening interactions are key, especially if you’re working in internal credit.

How long have you been a member of the AICM?

I’m not new to the AICM having actively participated with ARMA for several years, attending around five conferences and the upcoming one in Melbourne. I’m keen to join-up going forward.

How did you get involved with the NSW AICM Council?

As a YCP winner, I received an invitation and am excited to get involved.

What are your favourite activities outside of work?

I’ve been married for three years and with my wife we enjoy dining out – Italian is a favourite, and I can cook a bit too. While no big holidays are planned right now, I’d love to visit Europe. I also play tennis –it’s a great casual game.

new south wales

Why do you think the judges selected you for the NSW YCP award?

I believe it’s my wealth of experience at such a young age that has given me the edge. I probably have more experience than most candidates. I’m determined to make an impact, both for clients and within the AICM, particularly in modernising the industry with digital solutions. I’m excited to be at the forefront of these changes.

– Gary Poslinsky MICM NSW Council

The Australian Institute of Credit Management welcomes our Partners for 2024

member anniversaries

We recognise those members who achieved membership anniversaries between July and September 2024. Congratulations to these members on achieving such important milestones.

new members

The Institute welcomes the following credit professionals who were recently admitted to membership between July and September.

New South Wales

Hande Algok Ucar BCC Trade Credit

Amanda Allen

Stuart Auld Credit Collections Services Group

Madhumitta Balajisrinivasan Sixt

Lohit Bhetalam Ampol

Neil Bookseller Chamberlains Law Firm

Neill Borg DecisionOK

Rhys Boudib

Credit Collections Services Group

Demi Clark Optus Singtel

Matthew Dunnill The Mutual Bank

Kayla Eatock

Morgan Eveleigh

Credit Collections Services Group

Yaw Frimpong Sixt

Kate Hearne CSR Limited

Kim Hinchey BCC Trade Credit

Sophea Hour WTP Australia Pty Ltd

Imrul Huda Sixt

Kellee Jordan The Mutual Bank

Michael Keene Ampol

Jamila Khatoon Metal Manufactures Pty Ltd

Felicity Laczina The Mutual Bank

Aristotle Losito Ampol

Tara Manocher Dolabi Transurban

Damien Martin

Terry Moore

Toni Murtanovski

Credit Collections Services Group

Credit Collections Services Group

Melanie Norman The Mutual Bank

Bridget Obell Bradken Resources Pty Ltd

Marcello Puglisi

Credit Collections Services Group

Jon Reeves The Mutual Bank

Bert Ruiz DecisionOK

Jason Rutherford GFG Alliance

Jeewa Samsudeen Vinidex Pty Ltd

Arju Shah OPTUS

Richard Shen Kerrs

James Simons

Credit Collections Services Group

Rachael Sutton Optus

Tairi Tautu

Credit Collections Services Group

Stephen Tornatore CNH Industrial Capital

Linh Troung Sixt

Tracy Usher

Credit Collections Services Group

Trisha Vu BDO

Jayce Wang BCC Trade Credit

Terese Wood Optus

Overseas

Richard Brooks DecisionOK Pty Limited/Credisense Ltd

Matthew Shand OK Group

Queensland

Keval Bhatt National Collection Services

Holly Candy DHL Express

Nickie Dalziell DHL Express

Nikki Daniels DHL Express

Demi-Ann Dawes Results Legal Pty Ltd

Eleonor Degrazia The University of Queensland

Karla Dunn Southern Steel Group

Kris Furnari DHL Express

Marissa Giacomantonio Ergon Energy

Katrina Kelly Steel Line Garage Doors Australia Pty Ltd

Vikash Lal Cleanaway

Kayleen Laurence-Hart Agility Law Group

Angela Lawson SMEC Australia Pty Limited

Sora Lee Bulk Fuel Australia Pty Ltd

Cheryl Martin National Collection Services

Karen Mckenzie Big Ass Fans Australia Pty Ltd

Susan Clare O’Neill National Collection services

Shay Ohl Ergon Energy Retail

Darren Philip National Collection Services

Caitlin Shillingford Covetrus

Shandelle Wade IRS Group (AUS) Pty Ltd incorporating Australia Wide Skiptracing Services

Shannon Walsh Shell Energy

South Australia

Tharindu Maggonage Southcott Pty Ltd

Kerry Pearce City of Playford

Victoria/Tasmania

Sam Alfred Visy

Lily Bedford NCI (Brokers) Pty Ltd

Jack Blaskovic Rothwell Lawyers Pty Ltd

Christopher Bower Rothwell Lawyers Pty Ltd

Amy Brown Wex Australia

Claire Charlton Tasmanian Collection Service

Evan Cummng QBE

Shane Doherty Commit Co

Brodie Forbes

Belinda Glare Rothwell Lawyers Pty Ltd

Catherine Hart Business Credit Solutions Pty Ltd

Chris Hickey Morris Finance

Melinda Hooper Morris Finance

Sandy Kanaris Globe International Ltd

Cecelia Leota New Balance

Mavis Lian Viva Energy Australia

Jalane Lu WEX Australia

Matt Luehman Morris Finance

Rachel McKnight Morris Finance

Kerri Olinowski Globe International Ltd

Brylee Paulo Rothwell Lawyers Pty Ltd

Levina Pavera WEX Australia

Shinyee Puah WEX Australia

Antonia Reuscher NCI (Brokers) Pty Ltd

Ben Reyment Morris Finance

Luke Rosenstengel Morris Finance

Kassi-Ann Smith Transurban

Kevin Smith Morris Finance

Steve Solomon BCC Trade Credit

Kashif Syed

Michael Thomson Morris Finance

Esbjorn Torstensson Realty Assist

Darren Tran MoneyPlace

Jamie Weisse Morris Finance

Tamara White Aurora Energy

Lisa Wood Viva Energy

Zoey Yin Bizcap

Jingyang (Emily) Zhong WEX Australia

Western Australia/Northern Territory

Aneesh Achenkunju Jacana Energy

Anthony Acton Realty Assist Australia

Samantha Annear Centurion Transport

Battou Choueib Realty Assist

Jodie Earney Ampac

Shelley Gregory Realty Assist

Kristina Hack RAC Finance

Bret Hood Jacana Energy

Jessica Jones Centurion Transport

Helen Joyce Bluestone Advisory pty ltd

Nadia Kirk RAC Finance

Bidhuna Kottarathil Veedu Jacana Energy

Lidia Ladeira Capricorn Society

Gregory Laycock NCI

Glenda Maxwell RAC Finance

Kate Meulenkamp RAC Finance

Rose Moore Jacana Energy

Uelese Mulitalo Power and Water

Uelese Mulitalo Jacana Energy

Sarah Plumb BDO

Vaelupe Saena Jacana Energy

Saagar Shah RAC Finance

Emira Sulic RAC Finance

Krysabel Marie Nicole Ventura Beaumont Tiles

Melanie Wanless Ampac

AICM Marketplace

Directory of services

AMPAC Debt Recovery

Level 5, 35 Clarence Street, Sydney NSW 2000

Tel: 1300 426 722

Email: info@4ampac.com.au

Web: www.4ampac.com.au

AMPAC Debt Recovery is a specialist debt collection practice supporting organisations around Australia and in over 180 countries worldwide. With decades of experience and global reach, AMPAC is a trusted partner to some of Australia’s highest profile private and public sector organisations. Call or email us to next time you are reviewing your debt recovery needs.

ARMA

Tel: 02 9154 7010

Email: info@armagroup.com.au

Web: www.armagroup.com.au/

ARMA is a specialist provider of contingent debt recovery solutions, outsourced accounts receivables and litigation services. ARMA was started with the aim to have fewer customers and provide better service. We provide big agency expertise with a boutique service.

CCSG

Tel: (02) 8568 6539

Web: www.ccsgroup.com.au

Credit Collection Services Group (CCSG) is a leading full-service debt collection agency. We specialise in debt collection, litigation, commercial default listings, portfolio ledger management, and financial hardship management. At CCSG, we understand your challenges, have proven expertise, and protect your interests through robust compliance and best business practices. Our experienced team is dedicated to engaging with people effectively, delivering results that improve cash flow and financial stability for our clients. Partner with CCSG for professional, efficient, and ethical debt collection solutions tailored to your needs.

National Collection Services

Tel: 1300 888 758

Email: info@natcollection.com.au

Web: https://natcollection.com.au/

National Collection Services are a boutique Debt Collection Agency that sees ourselves as an ‘extension’ of your internal credit department. We will work with you to form a partnership, with our focus being placed on the associated levels of engagement, support, communication and goals of your organisation.

Divisional Supporting Sponsor

Tasmanian Collection Service

Commercial Credit Services

Tel: 02 9671 0400

Email: jamesvp@commercialcredit.com.au

Web: www.commercialcredit.com.au/

Commercial Credit Services Group is a professional debt collection agency that provides debt recovery services across Australia and New Zealand, working closely with our clients to understand their needs and provide the best solutions tailored to suit.

Tel: 03 6213 5555

Email: connect@tascol.com.au

Web: https://www.tascol.com.au/

With over 140 years’ experience, branches in Hobart, Launceston and Burnie and a database on the Tasmanian population that is second to none, there is no one better placed to handle your Tasmanian debts. Why not consider outsourcing to a local expert, you’ll be glad you did.

Neill Borg, Enterprise Director

Tel: 0401 066 624

Web: www.decisionok.com.au

Email: neill.borg@credisense.io

DecisionOK by Credisense revolutionises the way businesses acquire new customers. One-size does not fit all. Our platform provides personalised, omni-channel, and unified customer experiences that embody your brand. Orchestrate and analyse thousands of data points and services that automate any process or decision. All from the cloud. All with no coding.

Esker Australia Pty Ltd

Suite 1502, Level 15, 227 Elizabeth Street, Sydney NSW 2000

Tel: 02 8596 5126

Email: info@esker.com.au

Web: www.esker.com.au

Cash is the heartbeat of your business, so give your AR department the tools they deserve! Esker’s AR solutions help companies reduce cost for invoice delivery, accelerate cash collection process and automate the reconciliation of payments. Contact us to easily achieve your cash collection goals, tackle root causes of payment delays and reduce collection disputes while improving customer relationships.

OnGuard

Tel: 1800 123 613

Web: www.onguard.com

OnGuard’s Credit management solution will help you hit your collection targets – each and every month.

By working smarter and providing better visibility, OnGuard will help you reduce your DSOs. Why not give your staff a friendly solution that will make their life so much easier. Contact us to show you how OnGuard has made life a whole lot easier for our customers.

AICM National Partner

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

Divisional Supporting Sponsor

For information, options and pricing please contact Claire Kasses on +61 2 9174 5727 or E: claire@aicm.com.au

COLLECTION SYSTEMS

Opypro

Email: partner@opypro.com.au

Web: www.opypro.com.au

Opypro is a single cloud-based platform that fully automates the end-to-end B2B credit management process. Multiple systems can be replaced by Opypro streamlining onboarding, providing real time access to business buyer account information and increasing payment success with consolidated invoicing, automated Dunning cycles and payment reconciliation. Contact us to see how Opypro can drive efficiencies across your trade accounts receivable process.

DISTRIBUTION & PRINTING

AICM Divisional Partner

Lane Communications

Tel: 08 8179 9900

Web: www.laneprint.com.au

Lane are widely regarded as one of the largest and most technologically advanced print production and distribution companies in Australia. We are an industry leader in digital and offset print, point of sale signs, complex embellishments and print finishing, storage, kitting and mailing. With innovation at our core, our services extend beyond transactional mail and promotional print production to include SMS, bulk email communications, and electronic billing solutions. Lane are your partner in print and multi-channel communications.

AICM National Partner

CreditorWatch

GPO Box 276

Sydney NSW 2001

Tel: 1300 501 312

Web: www.creditorwatch.com.au

CreditorWatch is a leading commercial credit reporting bureau used by over 50,000 businesses across Australia. CreditorWatch offers a variety of products including customer monitoring/alerts, credit reporting, an indepth trade program and online credit applications to assist with customer onboarding and decisioning. Contact us today for more information or to organise a FREE DEMO of any of products.

INSOLVENCY

Insolvency Intelligence for Credit Managers

Tel: 1300 265 753

Web: www.jirschsutherland.com.au/ insolvencyintelligence/

Email: intelligence@jirschsutherland.com.au

Insolvency Intelligence: a specialist provider of insolvency and turnaround advice and services for credit managers. Backed by national firm Jirsch Sutherland, our friendly team is just a phone call or email away, providing members with practical, strategic advice about corporate and personal insolvency. Free initial consultation; networking opportunities; training and presentations; knowledge database access. Contact us now to find out how we could assist you.

Equifax

Tel: 13 83 32

Web: www.equifax.com.au

Equifax is a global information solutions company, providing data and insights that help organisations and individuals make more informed decisions. As a leading provider of credit information and analysis in Australia and New Zealand, Equifax serves key markets in risk management, marketing services and HR solutions.

Drawing from trusted sources to compile and process data, Equifax helps its customers see things and make connections that others can’t.

AICM National Partner

Building Industry Credit Bureau

Tel: 07 3852 1342, 1800 931 222

Email: bicb@bicb.com.au

Web: https://bicb.com.au

If your business supplies the building industry, we have industry-specific data that will raise your credit management decision-making effectiveness and perhaps prevent/minimise loss. We know you like to do your job well. Let us help you do it even better. For more info, call today.

illion

Tel: 13 23 33

Web: www.illion.com.au

Renowned for our expertise in credit risk management, we pride ourselves in providing market leading products and services which securely store and analyse the unique data of millions of individuals and commercial entities. While we specialise in credit risk assessment and decisioning software solutions, we also provide a full suite of products that span the entire credit lifecycle. This includes lead generation and sales prospecting tools and receivables optimisation solutions.

SV Partners

Level 8, 68 St George’s Terrace, Perth WA 6000

GPO Box 2527, Perth WA 6001

Tel: 08 6277 0026

Fax: 07 3229 7285

Email: perth@svp.com.au

SV Partners is a specialist accounting and advisory firm with 17 offices across Australia. Our expert accountants have the skills and experience to provide tailored insolvency, turnaround and advisory services. We partner with professionals and their clients, providing expert advice with a human touch.

AICM Marketplace

We’re proud of the AICM and we want to let all credit professionals know those businesses that support the AICM. Thank you to these companies for their continued support and please consider them first when you’re looking for assistance in your business. We’ll also include these sponsors on our website so you can be sure to find them easily.

For more information contact: Claire Kasses

Direct: +61 2 9174 5727

Email: claire@aicm.com.au

Tel: 1300 560 996

AICM Divisional Partner

AICM National Partner

Divisional Supporting Sponsor

AICM Divisional Partner

AICM Marketplace

Directory of services

For information, options and pricing please contact Claire Kasses on +61 2 9174 5727 or E: claire@aicm.com.au

INSOLVENCY

AICM Divisional Partner

Vincents

Level 34 Santos Place, 32 Turbot Street

Brisbane QLD 4000

Tel: 1300 VINCENTS, (07) 3228 4000

Web: www.vincents.com.au

Vincents is a solutions-focused professional services firm with over 35 years of experience. Its Restructuring & Recovery team consists of experts in all aspects of insolvency, restructuring, and recovery. They are dedicated to supporting you or your clients during critical decision-making moments, acting as financial counsellors, and offering advice and solutions for a wide range of financial distress situations. Regardless of the size or complexity of the matter, their team collaborates closely with you, your stakeholders, and advisors – including lawyers, accountants, financiers, and creditors – to achieve the best possible outcome.

LEGAL

Divisional Supporting Sponsor

Agility Law

Contact: Levi Smouha, Managing Partner

Tel: 0423 982 333

Email: levi.smouha@agilitylaw.com.au

Contact: Janel Pearce, Senior Paralegal

Tel: 07 3521 8519

Email: janel.pearce@agilitylaw.com.au

Web: www.agilitylaw.com.au

Agility Law Group, based in Brisbane, specialises in debt recovery, litigation, insolvency, commercial, and property law. We handle both high-volume and complex, high-value disputes across all state and federal courts. Our expertise includes insurance and finance recovery actions. We provide strategic, practical solutions tailored to our clients’ objectives nationwide.

Divisional Supporting Sponsor

Holman Webb Lawyers

Tel: 02 9390 8000

Web: www.holmanwebb.com.au/

Email: andrew.tanna@holmanwebb.com.au

Holman Webb is a commercial and insurance law firm with over 60 years’ experience and the scale to provide a top-tier level of legal services. We deliver unique insights and bring relevant, real world experience to you from our offices in Sydney, Melbourne, Brisbane and Adelaide.

Nova Legal

Level 2, 50 Kings Park Road

West Perth 6005

Tel: 08 9466 3177

Web: www.novalegal.com.au

Nova Legal can assist with the recovery of problem debtors (large and small). Founding director Raffaele Di Renzo acts for creditors, debtors, directors, credit managers and insolvency practitioners in relation to solvency issues and dispute resolution.

AICM Divisional Partner

Results Legal

Level 4, 183 North Quay

Brisbane QLD 4000

Tel: 1300 757 534

Web: www.resultslegal.com.au

Results Legal is a national firm with a focus on promoting and protecting the rights of trade creditors. Our clients are some of Australia’s largest trade credit companies who rely on our assistance for legal recovery, dispute resolution, preference claim defence and PPSA rights. Results Legal are the obvious first choice for companies seeking a national solution to resolve commercial disputes and pursue swift, successful and cost effective legal recovery action.

AICM Divisional Partner

Rothwell Lawyers

Tel: (03) 9329 3500

Email: admin@rothlaw.com.au

Web: www.rothlaw.com.au

At Rothwell Lawyers, we are a commercial team of solicitors and other legal support staff that are experts within our field. We pride ourselves on our ability to provide sound legal advice to individuals and businesses of all sizes, from sole directors and shareholder companies and large national corporations. Whether it is basic debt recovery, commercial law and litigation, insolvency advice to agreements and contracts, the team at Rothwell Lawyers can help you today.

Turks

Tel: 02 8257 5700

Email: marketinggroup@turkslegal.com.au

Web: www.turkslegal.com.au

Turks is a specialist commercial law firm with 33 Partners and over 160 staff across our Sydney, Melbourne and Brisbane offices. We are proud to look after the interests of trade creditor suppliers and financial institutions in:

l Portfolio debt recovery using our marketleading, real-time client interface, ‘TurksFocus’

l Resolution of complex debt disputes

l PPSA recovery

l Defence of unfair preference claims

l Supply documentation and guarantees.

RECRUITMENT

Divisional Supporting Sponsor

Byron Thomas Recruitment

Tel: 02 8677 3020

Email: info@byronthomas.com.au

Web: www.byronthomas.com.au/

As Sydney’s leading Executive Accounting and Finance recruitment service, we offer access to our exclusive relationships, networks and database of over 80,000 Accounting and Finance Candidates. We are a privately-owned Australian company that have been operating for over 10 years. We work with a variety of public, private, family owned and private equity-backed companies.

AICM Marketplace

We’re proud of the AICM and we want to let all credit professionals know those businesses that support the AICM. Thank you to these companies for their continued support and please consider them first when you’re looking for assistance in your business. We’ll also include these sponsors on our website so you can be sure to find them easily.

For more information contact: Claire Kasses

Direct: +61 2 9174 5727

Email: claire@aicm.com.au Tel: 1300 560 996

AICM National Partner

AICM Divisional Partner

For information, options and pricing please contact Claire Kasses on +61 2 9174 5727 or E: claire@aicm.com.au

TRADE CREDIT INSURANCE VALUATIONS

Aon Australia

Tel: 02 9253 7000

Email: barbara.cestaro@aon.com

Web: www.aon.com.au/australia/default.jsp

Aon is the world’s leading credit insurance broker providing innovative solutions against nonpayment risks, improving working capital and helping businesses to grow. Our deep experience across industries, investment in IT and network of credit specialists in 55 countries, provides us with the scale and expertise to deliver powerful solutions which enable businesses to identify and mitigate credit risks, sustain growth strategies with new and existing clients and optimise working capital and improve liquidity.

Slattery Valuations is Australia’s leading asset valuation team, trusted for accurate and efficient valuations nationwide and internationally. Our expertise spans finance, accounting, insolvency, insurance, mining, government, aviation, and marine sectors. We deliver discreet, evidence-backed valuations tailored to your needs and carried out under international valuation standards. Divisional

National Credit Insurance Brokers

Tel: 1800 882 820 (freecall)

Email: info@nci.com.au

Web: www.nci.com.au

National Credit Insurance Brokers (NCI) has established itself as the premier trade credit insurance broker in Australia, New Zealand, Singapore and Malaysia. Trade credit insurance is a highly specialised area of insurance and with its 35 years of experience, NCI has developed an unmatched depth of expertise in arranging the right protection at the best price for your particular trading needs.

Slattery

Web: www.slatteryassetadvisory.com www.slatteryauctions.com

Email: gtanner@slatteryauctions.com.au