Leaders Insight - with Steve Hammell, Experienced

So, You Want to Be a Credit Manager? Here's What You Need to Know

So, You Want to Be a Credit Manager? Here's What You Need to KnowCredit Management isn’t just about chasing payments — it’s about protecting the lifeblood of a business: cashflow. To help future finance leaders get a real feel for what it’s like to step into a Credit Manager role (and thrive!), we asked current Credit Manager, Philip Holborough to share their honest thoughts in our Voices of Transactional Finance Leaders Series. In this article, Philip talks about everything from the challenges he’s faced along the way, to the skills and attitudes that really make a difference. He also gives a glimpse into how the role is changing, what impact technology like AI might have, and why having a "bulldog attitude" could actually be one of your biggest assets. Whether you're just starting out or aiming for the next step in your career, their advice is packed with real-world lessons you won’t want to miss.What do you think future leaders should prioritise or focus on most in order to successfully make themselves appointable as a Credit Manager?Debtor payment trends. Regardless of industry the key to successful Credit Managers is analysis of payment performance – this is often the biggest tell-tale sign of potential payment issues in the future.What are both the best and the most challenging aspects of being the Credit Manager of a fast-paced business? Blending Credit with Sales. Often the two don’t mix well – but open, frank and honest conversations where clarity of objectives is understood on both sides will help in a very challenging environment.What are your opinions about the relationship between a Credit Manager and the FC/CFO and CEO? What is critically important in building a successful partnership and providing the right support to the FC/CEO/CFO? A good CFO will recognise the importance of a Credit Manager – not always the case with CEO as they are often more strategic and commercial in their approach and less likely to be open to credit conversations over sales performance.What new key skills or attributes do you think the next generation of Credit Managers are going to need to develop? Tenacity. Both internally and externally. “The squeaky wheel gets the oil!” Don’t be afraid to offer opinions based on gut instinct and past experience. You will earn the respect of the business very quickly if you are able to nail your colours to the mast! Are new technologies like Artificial Intelligence having much of an impact on your role as Credit Manager yet? What impact do you think they will have over the next few years? AI frightens me – but I recognise the importance of some labour-saving aspects. A computer will never get someone to pay a bill – only a human voice can do that.Is it possible to maintain a reasonable work life balance at Credit Manager Level or do you have to accept that there will be personal sacrifices in order to progress to that level?Clear boundaries are very important. CM can be a stressful occupation – you must be able to separate these to ensure no burn out!Away from core credit knowledge, what personality traits have been critical to your success as a Credit Manager? Are these natural or have you worked on developing them?The willingness to not let go! Bull dog attitude – obviously with respect to the customer and the wider business. Don’t give up.What is the one single best piece of advice you were given early in your career that still holds true today? “Show me the money!” Cashflow is critical to any business large or small – the Credit manager is the custodian of this process.If there’s one thing Philip’s advice makes clear, it’s that being a great Credit Manager is about a lot more than just ticking boxes. It’s about sharp instincts, real tenacity, clear communication, and a relentless focus on cashflow — all while building strong relationships across the business. The role might change over time, especially as new technologies come into play, but the core principles stay the same: know your numbers, trust your gut, speak up when it matters, and never lose sight of the bigger picture. For anyone thinking about a career in Credit Management (or already on the way), these lessons are pure gold. Take them on board, keep learning, and remember — the best Credit Managers aren’t just protecting the cash, they’re helping to drive the whole business forward. Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAY and let's chart your career path together.

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The latest instalment of our “Leaders Insight” series is with Steve Hammell, experienced CFO in Industrials & Technology markets. In an insightful interview conducted by Michael Ball, Partner at The CFO Partnership, Steve shares his journey, the strategic initiatives he’s spearheading, and his vision for the future of finance.

Steve Hammell brings a wealth of experience and a unique perspective to his role at Pressure Technologies. With a career spanning over two decades in various financial leadership positions, Steve has navigated through numerous economic cycles and industry shifts. His expertise in mergers and acquisitions, financial strategy, risk management, and operational efficiency has been instrumental in driving the company’s growth and resilience.

Join us as we delve into Steve’s experiences, explore the evolving responsibilities of a CFO, and uncover what defines successful financial leadership in today’s environment.

What are both the best and the most challenging aspects of being the CFO of a fast paced, listed business?

Best aspects;

Supportive shareholders with capital to inject into the business, including the ability to provide innovative financing instruments (e.g. convertibles, quasi debt-equity instruments)
High quality Boards with NEDs who bring in-depth experience and a steady hand.
The public profile helps to attract and recruit high quality candidates and offer incentive structures not available in private companies.

Challenging aspects;

Everything plays out in the public domain, so the interplay of strategic projects and business performance need to be carefully handled.
Short-term share price movements can become a barometer of success rather than progress against strategic objectives and long-term improvements to the business.
Regulatory burdens are heavy and the costs of being listed can be prohibitive for any plc with revenue < £30m.

What are your opinions about the relationship between a CFO and CEO? What is critically important in building a successful partnership and providing the right support to the CEO?

CEO and CFO must have each other’s back and provide a united front with all stakeholders, especially the Board, shareholders and employees.
They should complement one another in terms of skills/expertise, leadership style and teamwork.
Each needs to have strong leadership characteristics and deliver on their own responsibilities aligned to common strategic objectives.
CFO needs to be the financial authority in the company and have command of the numbers, with the ability to simplify complex areas and deliver concise analysis for the CEO to use commercially.
CFO should recognise that being CEO can be a lonely place with responsibility for almost every facet of the organisation. The CFO should be a strategic sounding- board and challenge the CEO regularly as an outspoken partner.

What new key skills or attributes do you think the next generation of CFO’s are going to need to develop?

Technology;

Cyber security is becoming a core competence and leadership responsibility of the CFO; ability to develop the cyber defence strategy of the company and work with internal and external resources to provide a robust operating framework and a response capability if the business is attacked.
Ability to lead and deliver ERP and data analytics projects as Board sponsor.
Ability to harness Artificial Intelligence and automation to deliver value to the business; in manufacturing, this translates to delivering full integration of manufacturing and financial data to drive operational improvement.

Procurement;

Supply chain integrity, performance and reliability has become a significant issue post-pandemic.
CFOs need to be able to develop and lead high performance procurement functions to serve the business and manage operational and financial risk.

People;

The world of work has changed in the last 5 years with many competing pressures emerging. CFOs need to develop a core set of values to guide their recruitment decisions.
CFOs need to develop high performance cultures by harnessing a broad range of skills across the increasingly integrated functions of finance, IT and procurement to deliver first class support to the business.
CFOs should focus on big-picture priorities and determine what gets done, not how it gets done; CFOs should therefore prefer to empower their teams and encourage collaborative decision-making.

You have worked in some challenging turnaround environments in your career. What specifically are the most essential skills and personality traits that a finance leader needs to be able to steer a business through a turnaround project?

Resourcefulness – CFOs must be able to draw on a broad array of skills and a network of dedicated advisors and funders to find their way through complex situations.
Resilience and being strong-willed – CFOs must be acutely risk aware but be able to carry on regardless in a dark, uncertain and ambiguous situation where the route to success is not clear and the odds may be stacked against you; CFO’s need a plan B if things go wrong.
Change management – turnarounds involve significant change for organisations and create new priorities, pressures and working relationships; CFO is normally in the eye of this storm.

Working patterns and individual priorities have never been as much at the forefront of working life as they are for people now. Is it possible to maintain a reasonable work life balance at C-suite or do you have to accept that there will be personal sacrifices in order to succeed at that level?

C-suite responsibilities are time consuming, and you are usually dependent on the performance of others, which requires flexibility and ability to handle time pressure.
However, by organising the activities of your internal and external teams, space can be created for your personal life, albeit at certain times the job has to come first.

You come from an advisory background yourself. How important is it to put time and effort into building and maintaining a network of trusted advisors that you can go to time and again?

Developing long-term relationships of trust with CF advisors, lawyers, diligence providers, tax advisors and a range of debt and equity funders is critically important and enables a CFO to deploy the full suite of skills and expertise required.
As a CFO, the businesses I have worked for have been employing not only myself but my entire network (whether they realised it or not!)

What is the one single best piece of advice you were given early in your career that still holds true today?

Frame your career and skills in terms of the market you operate in and develop the flexibility to deploy those skills in new ways.
For myself, I have served the Yorkshire M&A market for over 25 years in diverse roles including CF advisor, corporate banker and most recently CFO and have been able to re-invent myself a number of times using a core set of skills and relationships.
Looking forward, I have ambitions to move into non-executive roles and expect the flexibility I have developed over the years to serve me well again.

Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAY and let's chart your career path together.

Leaders Insight - with Steve Hammell, Experienced CFO, Industrials & Technology markets

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