What is a credit manager job?
A credit manager job involves analyzing and managing credit risk for a company. This includes evaluating creditworthiness of potential customers, monitoring credit limits, assessing credit scores, and managing collections. Credit managers typically work in finance departments of organizations, ranging from small businesses to large corporations.
What do credit managers usually do in this position?
Credit managers are responsible for analyzing and mitigating credit risk for their organization. This includes evaluating the creditworthiness of potential customers, monitoring credit limits, assessing credit scores, and managing collections. Credit managers also work closely with other departments, such as sales and marketing, to ensure that credit policies are aligned with overall business objectives. They may also negotiate payment terms with customers and liaise with external credit agencies to gather information.
Top 5 skills for the position
- Strong analytical skills
- Excellent communication skills
- Attention to detail
- Ability to manage multiple tasks simultaneously
- Knowledge of finance and accounting principles
How to become a credit manager specialist?
To become a credit manager specialist, one typically needs a bachelor's degree in finance, accounting, or a related field. Many employers also prefer candidates with a master's degree or professional certifications, such as the Certified Credit Executive (CCE) or Credit Business Associate (CBA) designations. Relevant work experience in finance, accounting, or credit analysis is also highly valued.
Average salary
According to Glassdoor, the national average salary for a credit manager is $72,000 per year. However, salaries can vary widely depending on industry, location, and level of experience.
Roles and types
Credit managers can work in a variety of industries, including banking, insurance, retail, and manufacturing. Within these industries, credit managers may specialize in areas such as commercial credit, consumer credit, credit analysis, or credit risk management.
Locations with the most popular credit manager jobs in the USA
According to data from Indeed, the top cities for credit manager jobs in the United States include New York, NY, Chicago, IL, Houston, TX, Los Angeles, CA, and Atlanta, GA. However, credit manager jobs can be found in a variety of locations across the country.
What are the typical tools used by credit managers?
Credit managers typically use a variety of tools to help them analyze and manage credit risk. These may include credit scoring models, financial analysis software, customer relationship management (CRM) software, and credit monitoring services. Credit managers may also use spreadsheets and databases to organize and track credit information.
In conclusion
Credit manager jobs are an important part of many organizations, helping to ensure that credit risk is managed effectively. To become a credit manager specialist, one typically needs a combination of education, experience, and professional certifications. Strong analytical skills, communication skills, and attention to detail are all important for success in this role. Salaries for credit managers can vary widely depending on industry, location, and level of experience.