Credit managers are responsible for overseeing the credit granting process for a company. Their job is to optimize the company's sales and reduce bad debt losses by maintaining the credit policy.
Credit managers are responsible for overseeing the credit granting process for a company. Their job is to optimize the company's sales and reduce bad debt losses by maintaining the credit policy. They do this task by assessing the creditworthiness of potential customers while also conducting periodic reviews of existing customers.
What does a credit manager do?
Some of the tasks that a credit manager needs to do can be provided as follows:
Researching and evaluating clients’ creditworthiness
Approving or rejecting loan requests will be done based on credibility and potential revenue and losses
Creating credit scoring models in order to predict risks.
Job brief
We are currently looking for a credit manager who will be overseeing our company’s lending process from evaluating clients’ creditworthiness to approving or rejecting loan requests.
Credit manager responsibilities include creating credit scoring models while setting loan terms and also determining the interest rates. To be successful in this role, you will need to have a degree in accounting or finance along with experience in processing loan applications. Any previous banking experience will also be a plus point. Ultimately you will be responsible for helping us minimize bad debts and hence increase revenue from loans.
Duties and Responsibilities
The duties and responsibilities expected from a credit manager can be provided as follows:
Research and evaluate clients’ creditworthiness
Creating credit scoring models to predict risks
Calculate and set interest rates
Monitoring payments
Maintaining records of loan applications
Ensure all lending procedures comply with the regulations set
Negotiate loan terms with clients
Develop, review, and update our company’s credit policies
Follow up with clients to manage debt settlements and loan renewals.
Key requirements
The key requirements of a credit manager can be provided as follows:
Proven work experience as a credit analyst, credit manager, or similar role
Hands-on experience with accounting software
Negotiation skills
Bachelors in accounting, economics, banking, and finance or relevant field
Excellent skills with the ability to create and process financial spreadsheets
