Credit Manager Job Description

CREDIT MANAGER SUMMARY OF FUNCTIONS

Responsible for processing customer credit inquiries, approving credit/financing terms, and collecting delinquent accounts.

The Credit Manager oversees the firm’s credit business. They set credit-rating criteria, determine credit ceilings, and monitor the collections of past due accounts.

CREDIT MANAGER ESSENTIAL DUTIES AND RESPONSIBILITIES

• In conjunction with sales and finance executives and the company’s legal counsel, determines and updates credit policies and procedures. Recommends sales agreements, lease or rental-purchase plans, installment agreements and/or financing arrangements.
• Establishes standards for credit granting, development of criteria for credit limits, special terms, etc.
• Reviews all credit or financing requests, processes information, performs credit investigations and approves/disapproves credit with any related terms, conditions or limits. Authorizes sales orders accordingly.
• Reviews status of aged and delinquent accounts with Accounting on a weekly basis. Supervises preparation and transmitting of letters and notices on delinquent accounts. When appropriate, determines and recommends new repayment terms.
• Prepares paperwork for civil court (small claims court) on local delinquent accounts and represents the company at any hearings. Reviews and recommends accounts for outside collection agencies or legal action and follows through as required. Negotiates settlements on bankrupt accounts or when appropriate. Records any judgments with county clerk and reports to the credit bureau.
• Reviews and recommends accounts to be charged-off, prepares applicable reports and notifies credit bureau.
• Maintains current knowledge of the Fair Debt Collection Act and all state and federal laws and regulations applying to credit granting or collection activities.

ORGANIZATIONAL RELATIONSHIPS

Reports directly to the Vice President of Finance and Administration. Coordinates activities with Accounting and Sales.

PROCEDURES

The Credit Manager Job Description is mentioned in the following procedures:

CREDIT MANAGER QUALIFICATIONS

A college degree is required; a major in accounting or business administration is preferred. Good communication skills and the ability to work well with people is essential. Good leadership skills are beneficial. Familiarity with computers and accounting and spreadsheet applications is required.

CREDIT MANAGER PHYSICAL DEMANDS

Ability to communicate orally with customers, management, and other co-workers, both individually and in front of a group is crucial. Regular use of the telephone and e-mail for communication is essential.

Sitting for extended periods is common. Hearing, vision, and speaking within normal ranges is essential for normal conversations, to receive ordinary information and to prepare or inspect documents.

No heavy lifting is expected. Exertion of up to 10 lbs. of force occasionally may be required. Good manual dexterity for the use of common office equipment such as computer terminals, calculator, copiers, and FAX machines.

Good negotiating ability is required. Able to understand and utilize financial reports and legal documents to conduct business.

WORK ENVIRONMENT

The job is performed indoors in a traditional office setting. Activities include extended periods of sitting and extensive work at a computer monitor and/or calculator.