While professional development is an expense, a good conference is worth its cost many times over. Here are five ways your team’s attendance at the AICM National Conference will deliver real commercial benefit.
1. It will help you ensure legal compliance
Penalties for failing to comply with complicated and ever-changing credit law are steep. Individuals face penalties of up to $220,000 and two years' imprisonment. But all that's a matter for the lawyers, right? Wrong.
Lawyers are not always easy on the pocket, so James Neate, Partner at Lynch Meyer Lawyers, and Peter Mills, Special Counsel at Thomson Geer Lawyers, will host the session ‘10 things a lawyer won’t tell you but you need to know’ – including how to save serious money by carefully briefing your lawyer, and when you can go it alone without a lawyer. It’s all about saving the business money and making the best recovery.
Joseph Scarcella from Ashurst will also provide practical tips for maximising recoveries, as well as balancing getting paid with having a clean and accurate credit file, in ‘What to do when it all goes wrong’.
2. You’ll become a risk management star
The Insolvency Law Reform Act 2016 is certain to impact creditors, so Robyn Erskine, Partner at Brooke Bird Restructuring, Turnaround and Insolvency, will discuss the legislation, how to best manage risk and the new roles for creditors in this new insolvency landscape.
Other risk management sessions include ‘The importance of early intervention in a proactive risk management strategy’, ‘Problem solving: the number one skill you will need to thrive in the future’, and ‘Ways to curb phoenix activity’ – all of these sessions focus on systems improvements.
3. You'll get up to speed on regulatory changes
The credit industry operates in a constantly shifting legislative environment, so it pays to learn from the industry's best when it comes to regulation changes. New laws will impact credit professionals’ dealings with small business from November, and ASIC Senior Manager Boyd Honor will take attendees through the extension of unfair contracts legislation to small business and the penalties for non-compliance.
Recent developments in insolvency and case law will also be discussed, with a focus on how credit managers can improve their strategies for recovery and, crucially, avoid unfair preference claims. The goalposts have moved and your team needs to know where!
4. You’ll be a better manager
The first half-day of the conference is called the Leadership Forum for very good reasons. While the entire conference has been crafted for credit managers, this first session is tailored for those who can benefit from the best team-leading skills.
Experts will not only help hone leadership skills, they will also discuss how to ensure that the business as a whole gains the most value possible from the credit team.
5. Meet new suppliers, find new solutions
As well as being the largest gathering of credit professionals in Australia, the AICM National Conference offers the opportunity to see new products, as well as meet new and current suppliers all in the one place at the one time: the AICM National Conference Expo. Your team will make contacts who have new solutions, and return to the office with the tools and knowledge they need to lead the organisation.
Covering risk management, skills updates, legislation compliance, industry tips, tactics, tools and talent, the AICM National Conference will prepare your teams to implement changes that will impact the bottom line.
The 2016 AICM National Conference takes place on 12 October 2016 at Sea World Resort, Gold Coast, Queensland.