What does a Credit Manager do?
Credit managers oversee a company’s credit-granting process. They optimize company sales and reduce bad loans by maintaining a strict credit policy. They do this by assessing potential customers’ creditworthiness and conducting periodic reviews of their existing customers. Credit managers evaluate potential customers’ creditworthiness through credit scoring models that help with risk assessment. They approve and reject loans through the available data and calculate and set loan interest rates.
Credit managers review and update the company's credit policy and monitor loan payments and bad debts. They calculate and set loan interest rates, negotiate the terms of a loan with new clients, and ensure all loans and lending procedures comply with policy and regulation. They also maintain records of all company loans. Credit managers need a bachelor's degree in accounting, business administration, finance, or related fields and proven work experience as a credit manager.
Credit Manager Salaries
Average Base Pay
Credit Manager Insights
“I have been here for many years and I cannot say enough great things about working for The Finchley Group.”
“I have not found any cons to this point great people to work for and with.”
“I don't think the compensation was worth the amount of work I was assigned.”
“Really good place to work and people are nice.”
“I really enjoyed my time working at Yu Energy and worked with some absolutely amazing people.”
“Good everything perfect wonderful excellent”
“Low salaries otherwise everything is good”
“Good work life balance will be experienced here”
Credit Manager Interviews
Credit Manager jobs
Frequently asked questions about the role and responsibilities of a credit manager
When working as a credit manager, the most common skills you will need to perform your job and for career success are CDL, Releases, Traditional, Excellent Customer Service and Written Communication.
- Financial Analyst
- Finance Manager
- Credit Analyst
The most common qualifications to become a credit manager is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.