The credit manager is the person who looks after the lending process of the company from evaluating clients’ creditworthiness to approving or rejecting loan requests.

Credit Manager Job Description

The job description of the credit manager informs about their work which includes all the tasks related to the credit process. They have to look after the company’s sales and maintain bad debt losses through various credit policies. The candidate should also be responsible to create credit scoring models, approve or reject the loans, update the company’s credit policy and negotiate the payment terms. A credit manager should be active and work to make a profit for the company.

Roles and responsibilities

• The responsibility of the credit manager includes the work of researching and evaluating the client’s creditworthiness.
• Candidates should be able to create credit score models to predict the coming risk and crises for the company.
• Candidates should be enough confident and accurate while approving or rejecting the loan request based on their credibility, profit, or losses.
• They have to be very attentive while calculating and setting interest rates.
• Make good plans and strong communication with clients to negotiate long-term plans.
• Keep updated and maintain all the records of the loan applications.
• Keep in contact with the clients to maintain all the debt settlements and loan renewals.
• Follow all the legal rules and company policies and ensure that all the lending procedures are done according to the regulations.
• This is also the responsibility of the credit manager to develop, review and update the credit policies of the company.
• Provide training, guidance, and motivation to the new staff of the department.

Credit Manager Key skills required

• Good communication and interpersonal skills to make a good relationship with the clients.
• Able to work in the most stressful situations.
• Outstanding analytical skills.
• Proficiency in computer and other accounting software.
• Excellent mathematical skills.

Education, training, and Certifications

• Bachelor’s Degree in Economics, Accounting, Finance, Banking, or another relevant field from a recognized university.
• Certificate of work experience as a credit manager
• Certified computer courses.