Credit manager | Selby College
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Credit manager

Credit managers control the amount of finance offered by their company and manage the debts owed to it.

Potential salary

£27,000 to £50,000

Employment by 2024


Working hours

37 to 39 a week

  • to be thorough and pay attention to detail
  • ambition and a desire to succeed
  • persistence and determination
  • leadership skills
  • maths knowledge
  • to be flexible and open to change
  • business management skills
  • excellent verbal communication skills
  • the ability to monitor your own performance and that of your colleagues
  • to be able to use a computer and the main software packages competently

Your day-to-day tasks may include:

  • checking customer credit ratings with banks and credit reference agencies
  • deciding whether to offer credit
  • setting up terms of credit and making sure the customer pays on time
  • managing a team of credit controllers or accounting technicians
  • negotiating repayment plans
  • stopping supplies of goods to late-paying business customers
  • starting legal action to recover debts if necessary
  • liaising with other creditors, arranging for goods to be recovered by bailiffs or dealing with liquidators if a company's assets are to be sold off

You could work at a client's home, in an office or at a client's business.

With experience, you could progress into senior management or move to a larger company.

Alternatively, you could move into insolvency work with an accountancy firm or become a self-employed consultant, advising businesses on credit systems.

You can find out more about working and training in credit control from the Chartered Institute of Credit Management.

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