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.
- 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
- 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.