Credit Manager Job Description

Responsibilities and Requirements for Credit Manager Job Description Role

What does a credit manager do day-to-day? What skills and experience are required? This article outlines the key Credit Manager Job Description, job duties, responsibilities, and requirements.

Credit Manager Job Description Template


The Vital Role of a Credit Manager

A credit manager plays a crucial financial oversight role for a company. By minimizing credit and financial risks, they ensure fiscal stability and health.

Key Responsibilities

A credit manager’s core responsibilities include:

Evaluating Creditworthiness

  • Analyze financial statements
  • Review credit reports and applications
  • Decide on customer approval

Managing Credit Accounts

  • Set credit limits and payment terms
  • Adjust limits based on risk factors
  • Enforce standards on credit issuance

Mitigating Credit Risk

  • Identify trends in receivables
  • Review reports for risk reduction
  • Develop credit policies

Overseeing Collections

  • Lead efforts to collect on unpaid accounts
  • Create repayment plans
  • Determine uncollectible accounts

Skills and Requirements

To succeed as a credit manager, certain skills and experience are required:


  • Bachelor’s degree in finance, accounting or related field


  • 5+ years in credit analysis and lending

Core Competencies

  • Analytical skills
    • Financial modeling
    • Data analysis
    • Risk assessment
  • Communication abilities
  • Regulatory knowledge
  • Attention to detail
  • Leadership qualities

By overseeing accounts receivable and minimizing risk, an effective credit manager has a tangible impact on an organization’s financial prosperity. It requires a strategic blend of analysis, communication, and leadership.

Credit Manager Job Description Template

We are seeking a skilled Credit Manager to join our growing organization. The Credit Manager will oversee our credit services and accounts receivable policies. An ideal candidate has 5+ years of experience in assessing financial risk to minimize losses.

Roles and Responsibilities

  • Evaluate potential and existing clients’ financial statements to determine creditworthiness
  • Set credit limits and establish appropriate payment terms for new accounts
  • Adjust credit limits as needed based on a client’s payment history and evolving financial profile
  • Create standards and procedures for credit checks and approvals
  • Monitor customer accounts to identify problematic trends and risk factors
  • Lead efforts to collect on severely delinquent accounts
  • Report on credit issuance activities and projected losses
  • Work closely with sales staff to align credit issuance with growth targets
  • Ensure company credit policies adhere to lending laws and regulations
  • Investigate credit scores, history, financial statements, and references

Requirements and Qualifications

  • Bachelor’s degree in Finance, Accounting or a related field
  • 5+ years experience with credit analysis
  • Leadership ability and analytical thinking skills
  • Excellent written and verbal communication abilities
  • High proficiency with spreadsheets and financial analysis
  • In-depth understanding of legal and regulatory compliance standards for lending
  • Detail-oriented with strong organisational skills

We offer a competitive salary and benefits package. Our team respects hard work and integrity. Qualified candidates should send resumes and a cover letter highlighting relevant experience.


Frequently Asked Questions About the Credit Manager Role

What does a credit manager do?

A credit manager oversees a company’s credit policies and accounts receivable. Their daily tasks include:

  • Assessing client creditworthiness
  • Making decisions on credit limits and terms
  • Monitoring accounts and trends in receivables
  • Mitigating risk by adjusting credit levels
  • Ensuring policies follow regulations

What qualifications do you need to be a credit manager?

Typical requirements to become a credit manager are:

  • Bachelor’s degree in finance or accounting field
  • 5+ years experience with credit/financial analysis
  • Knowledge of lending laws and standards
  • Strong data analysis and communication skills

What skills do the best credit managers possess?

Top-performing credit managers excel at:

  • Risk assessment and financial analysis
  • Setting credit standards in line with company goals
  • Making quick but critical credit decisions
  • Communicating policies to sales teams and customers
  • Multi-tasking and attention to detail

How does a credit manager decide credit limits?

Before approving credit limits, managers:

  • Review statements, credit history, references
  • Develop a risk analysis based on the data
  • Align limits with internal policies and goals
  • Set limits that reflect the risk level
  • Communicate limits and payment terms with customers

What is the average salary for a credit manager?

The average salary for credit managers is typically $80,000 to $90,000 annually. With experience and additional certifications, salaries exceed six figures. Bonuses are also common depending on performance.


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