Profession credit manager

Credit managers oversee the application of credit policy in the bank. They decide the credit limits to be imposed, the reasonable levels of risk accepted and the conditions and terms of payment made to the customers. They control the collection of payments from their customers and manage the credit department of a bank.

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Personality Type

  • Enterprising / Social
  • Conventional / Enterprising

Knowledge

  • Insolvency law

    The legal rules regulating the incapacity to pay debts when they fall due.

  • Financial management

    The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.

  • Debt collection techniques

    The techniques and principles used to collect overdue debt from customers.

  • Debt systems

    The processes needed to obtain goods or services before payment and when a sum of money is owed or overdue.

  • Corporate social responsibility

    The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

  • Financial analysis

    The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

  • Financial statements

    The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

  • Credit control processes

    The various techniques and procedures applied to ensure that credit is given to the suitable customers and that they pay on time.  

Skills

  • Liaise with managers

    Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

  • Enforce financial policies

    Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.

  • Follow company standards

    Lead and manage according to the organisation's code of conduct.

  • Synthesise financial information

    Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.

  • Analyse financial performance of a company

    Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.

  • Determine loan conditions

    Calculate the credit limit and decide on the conditions for the repayment.

  • Handle financial transactions

    Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.

  • Create a financial plan

    Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

  • Advise on financial matters

    Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

  • Maintain records of financial transactions

    Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.

  • Create credit policy

    Create guidelines for a financial institution's procedures in supplying assets on credit, such as the contractual agreements which have to be made, the eligibility standards of prospective clients, and the procedure for collecting repayment and debt.

  • Strive for company growth

    Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

  • Trace financial transactions

    Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.

  • Analyse the credit history of potential customers

    Analyse the payment capacity and credit history of potential customers or business partners.

  • Manage staff

    Manage employees and subordinates, working in a team or individually, to maximise their performance and contribution. Schedule their work and activities, give instructions, motivate and direct the workers to meet the company objectives. Monitor and measure how an employee undertakes their responsibilities and how well these activities are executed. Identify areas for improvement and make suggestions to achieve this. Lead a group of people to help them achieve goals and maintain an effective working relationship among staff.

  • Apply credit risk policy

    Implement company policies and procedures in the credit risk management process. Permanently keep company's credit risk at a manageable level and take measures to avoid credit failure.

  • Obtain financial information

    Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

  • Plan health and safety procedures

    Set up procedures for maintaining and improving health and safety in the workplace.

  • Analyse financial risk

    Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

  • Manage financial risk

    Predict and manage financial risks, and identify procedures to avoid or minimise their impact.

Optional knowledge and skills

contract law investment analysis securities examine credit ratings assess financial viability banking activities mortgage loans tax legislation analyse loans perform debt investigation communicate with banking professionals property law budget for financial needs consult credit score ensure proper document management prepare credit reports advise on credit rating maintain client debt records perform clerical duties business loans analyse market financial trends

Common job titles

  • Credit manager
  • Credit and collections manager
  • Mgr, credit & collections
  • Director credit
  • Assistant credit & collections manager - coral gables, fl
  • Collections manager