Credit Manager

OFO No: 121103

Other names for Credit Manager:

• Billing and Settlement Plan (BSP) Manager

What is a Credit Manager?

A Credit Manager’s main task is to collect the money owed on services rendered or products sold.

Some companies employ Credit Managers to track these payments and even take part in face-to-face collection or implement necessary legal action.

The Credit Manager works together with the accounting department, banks and credit agencies.

At all cost, the Credit Manager tries to prevent poor credit situations by dealing with the customers (companies) directly.

What does a Credit Manager do?

• keeps up to date with customers’ payment records
• issues statements
• liaises and negotiators with customers that have fallen behind in payments
• implements collections
• liaises with legal staff or legal consultants
• provides the all the right documents to hand over to legal staff/consultants
• liaises with banks
• prevents company against credit risk
• attends meetings
• researches new companies to determine if they will be a credit risk or not

Are you . . . ?

• a good negotiator?
• a good communicator?
• confident?
• decisive?
• emotionally strong?
• good at mathematics?
• detail orientated?
• persistent?

How do I become a Credit Manager?

Most Credit Managers have an accounting qualification and loads of working experience in the financial sector.

A Credit Manager usually starts off at the bottom as a junior in the accounting department and after years of collecting skills and experience will slowly move up the corporate ladder. Payroll Managers are generally older due to this fact.

After years as a Credit Manager the company may consider you for Financial Manager if you have shown that you have studied further, collected more skills and that you deserve the promotion.

PATH 1

Diploma in Credit Management

• Durban University of Technology
• Tshwane University of Technology
• University of Johannesburg
• UNISA

PATH  2

Diploma in Credit Management

Bachelor of Technology (BTech) in Credit Management

TRAINING:

• CLICK HERE to check for a training institution near you to see what they offer.
• Make sure you understand their entry requirements for each course.
• To avoid scams, make sure your institution is registered with the Department of Higher Education. 
• CLICK HERE to check accredited Private Higher Education Institutions. 

OTHER CAREERS TO CONSIDER: Debtors Clerk … or … Bookkeeper

Is becoming a  Credit Manager the right career choice for me?