Credit Manager Job

By: EconomyWatch   Date: 1 October 2009

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Credit managers play a significant role in various industries, such as banking, finance, service, manufacturing and retail. The job of a credit manager is to keep track of the payments received or due against the products and services supplied to customers. Finance students and graduates can contact private or state employment agencies to find a credit manager job.

In large organizations, credit managers build and manage the credit policy of the company. An average credit manager may earn anywhere between £25,000 and £70,000 per year, depending on the size of the company and duties performed.

Credit Manager Job: Personal Traits

The job of a credit manager requires the following personal traits:

  • Confident and influential personality
  • Attention to detail
  • Enjoy being in the commercial field
  • Sound information analyst
  • Quantitative skills
  • Proficiency in computers
  • Communication skills

Credit Manager Job: Education and Training Requirements

Students aspiring to be credit managers should have a sound background in finance, economics, accounting or business administration. Training is given on the job. Students can also join an internship program in banks as customer care or collection executives. Entry level jobs for graduates include credit supervisor or credit controller.

For managerial level positions, an MBA degree is essential. Management trainees who work in credit unions or retail stores are expected to have some experience in the field of credit. Experience in a bank or other major financial institution will be an added advantage. A credit manager can be promoted to the position of a senior credit manager, group credit director or regional credit manager. Those who enjoy working independently can become credit consultants.

Credit Manager Job: Duties of different Credit Managers

In credit card companies, the responsibility of credit managers is to take the final call on whether to approve or deny credit, after evaluating the borrowers’ situation.

Credit managers also work in departmental stores and credit bureaus as consumer credit managers. They are responsible for all the credit operations of the stores. Those who work in small stores perform the task of assisting customers in filling credit applications.

A commercial credit manager’s responsibility includes taking major financial decisions that influence the credit position of the company. Commercial credit managers conduct thorough research, review credit applications in detail and also get in touch with credit information agencies or credit bureaus before finalizing their decision.


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