Our Credit Manager job description includes the responsibilities, duties, skills, education, qualifications, and experience.
About the Credit Manager role
The Credit Manager is responsible for managing the credit and collection functions of a business. This includes setting and monitoring credit limits, reviewing customer accounts, and resolving customer payment issues. The Credit Manager also works with sales staff to ensure customers meet credit requirements and coordinates collection activities.
Role Purpose
The purpose of a Credit Manager is to ensure the timely and accurate evaluation of credit applications and to manage the credit risk associated with a company's accounts receivable. The Credit Manager is responsible for establishing credit limits, collecting past due amounts, developing credit policies and procedures, assessing customer financial health and monitoring customer accounts. They must also ensure compliance with all applicable laws and regulations, as well as provide customer service to clients.
Credit Manager Summary
The Credit Manager is responsible for overseeing the credit and collections functions for a company. This includes developing and implementing credit policies, monitoring customer accounts and determining creditworthiness, and managing the collections process. The Credit Manager must maintain accurate customer account information, process and approve credit applications, and ensure that customers adhere to payment terms. They must also have excellent interpersonal and communication skills to effectively interact with customers and other stakeholders. Additionally, they must be knowledgeable and up-to-date on relevant laws and regulations related to credit and collections.
Credit Manager Duties
- Develop and maintain customer credit policies and procedures
- Analyze customer financial information to determine creditworthiness
- Monitor customer accounts to identify potential problems
- Set up customer payment plans
- Establish credit limits
- Negotiate with customers on delinquent accounts
- Maintain customer records and credit reports
- Work closely with sales and collections departments
- Prepare financial reports
Credit Manager Skills
- Strong customer service skills
- Organizational and time management skills
- Ability to multitask and prioritize
- Attention to detail
- Excellent verbal and written communication skills
- Strong problem-solving skills
Credit Manager Requirements
- Bachelor’s degree in finance, accounting, or related field
- Familiarity with financial analysis software and credit reporting systems
- Excellent decision-making and problem-solving skills
- Strong communication and interpersonal skills
- Ability to work independently and collaboratively
Personal Traits
- Organized
- Detail-oriented
- Strong communication skills
- Ability to work independently
- Problem-solving skills