A credit manager is responsible for the entire credit granting process. This includes the consistent application of a credit policy, periodic credit reviews of existing customers, and assessing the creditworthiness of potential customers.
Key Responsibilities
- Writes and implements standard operating procedures for credit personnel to achieve consistency in unit operations
- Develops and standardizes written policy documentation related to the credit and customer set up process
- Oversees reporting, documentation and recordkeeping requirements for the department
- Creates credit reports and presents them to senior management
- Reviews and update the company’s credit policy when necessary
- Interfaces with sales organizations to communicate credit decisions and ensure timely review of new customers.
- Performs semi-annual account credit limit reviews and credit increase review requests from financial service and sales teams
- Manages debt settlements and loan renewals by discussing with clients
- Negotiates documentation and payment terms with customers to ensure transactions are properly secured
Job Requirements/Qualifications
- Bachelor’s degree in Accounting or a related field such as business administration, finance, statistics, actuarial science or economics
- With at least 7 years of related experience from any of the following industries: Lending/Financing, Banking, Credit and Collections
- Proven experience of working as a Credit Manager, Credit Officer, Credit Union or a similar role
- Proficiency in MS Word and accounting software like Quickbooks, Freshbooks or Xero
Skills needed for this role
Credit Manager must be proficient in reading / interpreting financial statements for the purpose of underwriting credit. A credit manager should also be someone who can work effectively within a team and has the ability to solve problems under pressure. Credit managers should also be creative thinkers. They should also be professional, confident, and motivated when they collect payments.
Career Level
Assistant Manager/Manager
Job Specializations
Accounting/Finance, Banking/Financial