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Title
Text copied to clipboard!Credit Manager
Description
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We are looking for a highly skilled and experienced Credit Manager to join our finance team. The ideal candidate will be responsible for overseeing the credit policies and procedures of the organization, ensuring that credit risk is managed effectively. This role involves evaluating the creditworthiness of potential clients, setting credit limits, and monitoring outstanding balances. The Credit Manager will work closely with the sales and finance teams to ensure that credit policies are adhered to and that the company’s financial health is maintained. The successful candidate will have a strong background in finance and accounting, excellent analytical skills, and the ability to make sound decisions under pressure. They will also be responsible for developing and implementing strategies to improve the credit management process, reduce bad debt, and enhance cash flow. This is a critical role that requires a high level of attention to detail, strong communication skills, and the ability to work effectively in a fast-paced environment. If you have a passion for finance and a proven track record in credit management, we would love to hear from you.
Responsibilities
Text copied to clipboard!- Evaluate the creditworthiness of potential clients.
- Set and review credit limits for new and existing clients.
- Monitor outstanding balances and follow up on overdue accounts.
- Develop and implement credit policies and procedures.
- Work closely with the sales and finance teams to ensure compliance with credit policies.
- Prepare regular reports on credit risk and outstanding balances.
- Analyze financial statements and credit reports to assess risk.
- Negotiate payment terms with clients.
- Manage the collections process and reduce bad debt.
- Develop strategies to improve cash flow and reduce credit risk.
- Ensure compliance with relevant laws and regulations.
- Provide training and support to staff on credit policies and procedures.
- Maintain accurate records of all credit transactions.
- Review and approve credit applications.
- Conduct regular audits of credit accounts.
- Resolve disputes and handle customer inquiries related to credit.
- Collaborate with external agencies and credit bureaus.
- Stay updated on industry trends and best practices in credit management.
- Assist in the development of the annual budget and financial forecasts.
- Participate in special projects and initiatives as required.
Requirements
Text copied to clipboard!- Bachelor’s degree in Finance, Accounting, or a related field.
- Proven experience as a Credit Manager or similar role.
- Strong understanding of credit risk management and financial analysis.
- Excellent analytical and decision-making skills.
- Proficiency in financial software and Microsoft Office Suite.
- Strong communication and interpersonal skills.
- Ability to work under pressure and meet deadlines.
- Attention to detail and high level of accuracy.
- Knowledge of relevant laws and regulations.
- Experience in developing and implementing credit policies.
- Strong negotiation skills.
- Ability to work independently and as part of a team.
- Excellent organizational and time management skills.
- Professional certification (e.g., CPA, CFA) is a plus.
- Experience in the industry relevant to the company’s operations.
- Ability to handle confidential information with integrity.
- Strong problem-solving skills.
- Ability to adapt to changing business needs.
- Proven track record of reducing bad debt and improving cash flow.
- Willingness to stay updated on industry trends and best practices.
Potential interview questions
Text copied to clipboard!- Can you describe your experience in credit management?
- How do you evaluate the creditworthiness of a potential client?
- What strategies have you used to reduce bad debt?
- How do you handle disputes related to credit?
- Can you provide an example of a time when you improved cash flow?
- How do you stay updated on industry trends and best practices?
- What financial software are you proficient in?
- How do you ensure compliance with relevant laws and regulations?
- Can you describe a challenging credit management situation you faced and how you resolved it?
- How do you collaborate with other departments to ensure credit policies are followed?
- What is your approach to setting and reviewing credit limits?
- How do you manage the collections process?
- Can you describe your experience with financial analysis and reporting?
- How do you handle confidential information?
- What steps do you take to ensure accuracy in your work?
- How do you prioritize tasks and manage your time effectively?
- What professional certifications do you hold?
- How do you train and support staff on credit policies and procedures?
- Can you describe your experience with negotiating payment terms?
- What do you believe are the key qualities of a successful Credit Manager?