Credit Manager
Oversee an organisation's financial viability and extend credit to customers.
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Jobs in Jobstreet right nowSalary
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Typical monthly salaryJob growth
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In the last yearOn this page
- What's it like to be a Credit Manager?
- How to become a Credit Manager
- Top skills and experience for Credit Managers
What's it like to be a Credit Manager?
Credit Managers maintain a company's creditworthiness and financial viability by overseeing its credit business. They determine credit ceilings, manage scoring criteria and handle customer complaints regarding services. Credit Managers make decisions regarding the extension of credit to customers and manage potential risk by securing collateral or drafting legal documents. They often work within large-scale retail or manufacturing companies, financial institutions, credit analysers or wholesale businesses. Additionally, they could work with Accountants, Financial Officers and Underwriters to maintain the balance of credit versus debt within an organisation.
Tasks and duties
- Overseeing credit management process to ensure smooth operation and regulatory compliance.
- Analysing and assessing credit risk of clients to make informed lending decisions.
- Developing and implementing credit management policies and procedures that adhere to industry standards.
- Maintaining accurate records of loans, reports and other credit-related information.
- Negotiating payment plans with clients who have outstanding debts and overseeing debt recovery.
- Collaborating with account managers and sales teams to establish credit limits for clients.
- Staying abreast of legal, regulatory and market changes that may impact credit management of businesses.
How to become a Credit Manager
To become a Credit Manager, prioritise gaining hands-on experience in credit control and developing strong communication and analytical skills, while remaining open to learning opportunities for career growth.
- Obtain a bachelor’s degree in Finance, Accountancy, or equivalent, providing a solid understanding of financial management principles.
- Gain up to 5 years of experience in credit control, especially in managing contractual terms and conditions and commercial contract law, as preferred by most employers.
- Cultivate excellent communication skills, particularly in conducting client interactions via phone calls, to proficiently handle credit processes and negotiations.
- Strengthen proficiency in Microsoft Office applications, especially Microsoft Excel, to effectively analyse financial data and oversee credit-related tasks.
- Consider obtaining relevant certifications such as SAP or pursuing further education to enhance your qualifications and stay abreast of industry best practices in credit management.
Skills and experience employers are looking for
Having the right skills and experience can make you an in-demand applicant. Credit Manager employers on Jobstreet are looking for job seekers with expertise in the following areas. Credit Risk
Credit Analysis
Credit Evaluation
Underwriting
Lending
Credit Management
Credit Approval
Credit Risk Management
Accounting
Business Banking
Accounts Receivable
Credit Assessment
Financing
Credit Control
Credit and Collection
Restructuring
Risk Assessment
Risk Governance
Judgement and Decision Making
Billing
Source: Jobstreet job ads and Jobstreet Profile data
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