Finance Jobs :Credit Manager Job Career Profile

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(Free-Press-Release.com) January 1, 2011 -- Credit Managers control and protect the debts owed by customers to their businesses.They are employed by companies that sell goods or services, or by organizations such as banks, building societies, hire purchase companies, and credit card companies.There are two types of credit manager
In large organizations, credit managers may manage a team of credit controllers who carry out much of the daily administrative work, leaving the decision making and tasks that require specialized knowledge to the credit manager

. In smaller organizations, the credit manager is likely to undertake most of the work personally.

There are three main areas of work:

· Risk assessment - involves gathering financial information on the customers creditworthiness, analysing the information, and deciding whether to offer credit to the customer.

. Debt collection - may include visiting the customer and offering advice, setting up systems for repayment of the debt, or instigating legal action if recovery proves difficult.

· Insolvency work - credit managers may be involved in insolvency proceedings, including meeting with other creditors, recovering goods,or arranging for a liquidator to wind up a company and sell off its assets.


The work is mainly office-based, but time may be spent out of the office, visiting customers, other organizations or attending court proceedings.

As a credit manager, you should:

· have management experience, ideally in the financial sector

· be business focused, with a good knowledge of the local economy

· possess a high level of numeracy and IT skills

· be able to work accurately

· possess good interpersonal and communication skills

· be methodical and organized

. be able to motivate staff

· possess highly developed analytical and investigative skills

The normal route to becoming a credit manager is to start as a credit controller and progress into a management role. It may be possible to become a credit manager with experience in a related field such as banking.
A growing number of employers require applicants to have the professional qualifications of the Institute of Credit Management (ICM) as well as extensive experience.

There are two qualifications offered by ICM:

Certificate in Credit Management www.icm.org.uk - There are no formal entry qualifications to register as a student with ICM and study for this qualification. The course covers credit management, accounting, business law and business environment. Associate Membership of ICM is conferred on completion.
Diploma in Credit Management - The entry requirement for this qualification is the Certificate in Credit Management. It covers advanced credit management, practical credit management, credit management law, legal proceedings and insolvency. On successful completion of this course, Membership of ICM is awarded, and the designation MICM (Grad) may be used.

Alternatively, ICM membership is possible via a vocational route for those with at least five years' credit management experience. This involves providing references and having experience assessed by ICM.

Graduate or vocational members with at least seven years' senior management experience can apply for Fellowship of the ICM.

Credit managers must keep up to date with current financial legislation and procedures, and they may be required to attend courses to update professional skills. Export credit managers must keep abreast of international regulations and legislation.

New credit managers may expect to earn upwards of £12,000.
Managers with experience may earn between £16,000 and £25,000.
Senior credit managers may earn up to £45,000 a year.

Further information

http://www.justaccountancyjobs.com/content-credit_manager_job_profile

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