Credit Manager Job Description Template
The Credit Manager is responsible for managing the credit function and ensuring that company policy on credit is adhered to. They will also be responsible for minimising bad debt and maximising cash flow. The Credit Manager will liaise with internal departments such as Sales and Accounts, as well as external bodies such as creditors and debt collection agencies. They will also maintain accurate records of customer credit history and prepare monthly reports on the status of the credit portfolio.
Credit Manager Job Responsibilities
- Manage the credit department and its employees
- Establish and maintain credit policies and procedures
- Evaluate customer creditworthiness
- Extend or deny credit to customers
- Review and approve customer invoices for payment
- Monitor customer accounts for late payments and delinquent accounts
- Work with customers to resolve past due balances
- Prepare monthly reports on departmental activity
Objectives
- To manage and oversee the credit department of a company in order to ensure that the department is operating efficiently and effectively. To develop and implement credit policies and procedures. To assess credit risks and make decisions regarding granting or denying credit. To monitor customer accounts and take appropriate action when necessary. To prepare reports on the status of the credit department and the performance of its employees.
Credit Manager Job Skills & Qualifications Needed
- The skills and qualifications needed for the role of Credit Manager include:
- A bachelor's degree in accounting, finance, or a related field.
- Experience working in credit management or a related field.
- Strong analytical and decision-making skills.
- Excellent communication and interpersonal skills.