Host Bryn Griffiths welcomes back Nawshad Khadaroo, General Manager of the Credit Institute of Canada (CIC), for a conversation about the fast-changing world of credit and debt collection. Nawshad shares his wealth of experience as a credit professional and non-profit executive, offering a deep dive into how the credit industry—and the Credit Institute itself—has adapted since 2020.

Listeners will hear about how the CIC was uniquely prepared for the pandemic’s challenges, having already embraced virtual learning and meetings before COVID-19 struck. Nawshad highlights the continued importance of agility and innovation in the face of rapid technological advancements, emphasizing the growing role of automation and artificial intelligence (AI) in the credit profession. He advocates for a balanced approach: credit professionals should embrace AI to streamline repetitive tasks, while still prioritizing the human connections and strong communication that are essential for long-term success.

This episode also explores the evolving educational offerings at the CIC, including new executive-level certifications, mentorship programs, and a commitment to intergenerational knowledge sharing. Nawshad discusses the diversity and passion of CIC’s membership, touching on the value of networking and community—evident at their recent symposiums and upcoming centennial celebrations.

Whether you’re new to credit, a seasoned professional, or simply interested in how organizations adapt to disruption, this conversation is packed with practical advice, industry insights, and inspiration for continuous learning and growth.

Episode Highlights:

[00:00:47] How the Credit Institute was prepared for virtual operations before the pandemic, so their transition during COVID-19 accelerated their use of online meetings and course delivery.

[00:02:40] Nawshad emphasizes that continued reflection and adaptability are necessary, especially with disruptions like automation and artificial intelligence transforming the credit industry.

[00:04:25] He highlights that AI assists with repetitive tasks, allowing credit professionals to focus on relationship-building, which remains essential in the industry.

[00:05:29] The Institute has updated its programs to keep pace with industry changes, including introducing a new executive certification to help members stay relevant and advance their careers.

[00:07:23] Nawshad underscores the enduring importance of strong communication skills and human rapport for credit professionals, even as technology evolves.

[00:08:57] He points out that, despite younger generations being comfortable with technology, the personal touch and building rapport are irreplaceable in credit management.

[00:09:33] Adopting new technologies and shifting mindsets are key challenges; using AI can free up time to deepen client relationships and provide advisory support.

[00:10:31] The need for continuous learning to keep up with rapid change, stating he personally stays informed on trends like AI to better adapt.

[00:11:36] How industry events, like their upcoming Jasper conference, offer invaluable opportunities for networking and sharing best practices within the credit community.

[00:12:31] The relationships and networks built at symposia and conferences can last a lifetime and are vital to professional longevity in credit.

[00:13:12] The Credit Institute of Canada, established in 1928, represents and advocates for credit professionals, providing education and raising the industry’s profile.

[00:14:42] Nawshad encourages anyone interested in a credit career to reach out, highlighting the industry’s rewarding nature and the Institute’s support throughout members’ career paths.

[00:16:21] Mentoring across generations is a big part of the Institute’s culture, with senior professionals guiding and coaching younger entrants through programs like CIC Connect.

[00:17:35] The credit world is a complex, interlinked system requiring collaboration between credit managers, agencies, and businesses, all contributing value to the ecosystem.

[00:19:04] How the Institute works to strengthen connections among credit professionals from all types of organizations, facilitating efficient systems and collective progress.

Links:
Canada's Best Collection Agency: www.MetCredit.com
Credit Institute of Canada: https://creditinstitute.org/