A Credit Manager manages the credit control function of an organisation or business, either individually or as the manager of a team. The Credit Manager may be responsible for setting and maintaining credit controls and ensuring that losses through bad debt are minimised.
Credit Managers are responsible for credit policies and procedures and for ensuring that these policies are applied consistently for all of a company's customers. These policies are designed to achieve optimum payments for company sales and to minimise bad debts.
Credit Managers manage teams of credit administrators who are responsible for setting up and administering customer accounts.
Typical duties include:
Establishing policies and procedures for granting credit and managing credit accounts.
Regular credit reviews.
Working with sales departments to ensure correct billing and timely collections.
Opening new credit accounts.
Managing and developing credit teams.
Managing bad debt.
Reporting on collections and debtors to senior colleagues.
Qualifications
Credit Managers may be part or fully qualified accountants, although this is not always necessary. The Institute of Credit Management offers formal qualifications.
Are you a Credit Manager? Would you like to contribute to our "A day in the life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
