Credit Controller
What's it like to be a Credit Controller?
In the finance industry, banks and similar institutions lend funds to all kinds of customers, from individuals to an organisation. A Credit Controller’s job is to recover such funds to ensure continuous and smooth cash flow and other financial transactions within a business. The role may also comprise of tasks similar to that of a Credit Officer such as performing credit checks on clients from time to time. Handling money not only requires expert knowledge about managing funds, but outstanding customer service in order to deal with different clients. Credit Controllers have a combination of technical and communication skills, among other abilities.
Tasks and duties
- Managing the funds owed by clients to the company from monitoring to recovery.
- Developing and implementing efficient policies and systems for debt collection as well as credit checks.
- Performing credit checks on potential new clients and assessing relevant risks.
- Establishing and communicating debt payment plans, terms, and guidelines with the client.
- Reporting potential payment issues to the management and recommending appropriate actions to improve the debt recovery procedure.
- Preparing debt collection, credit checks, and other data and reporting them to relevant departments.
How to become a Credit Controller
To become a Credit Controller in Malaysia, you usually need a bachelor degree in a relevant field and some experience. Companies may also prefer candidates with certifications, but these are usually optional.
Complete a bachelor degree in accounting, banking, business or entrepreneurship, finance, management, or mathematics.
Expand your knowledge by taking up additional studies. This can be in the form of a postgraduate degree in the same fields, or an online certification course preferably in debt management, credit control, or similar topics.
Gain experience with on-the-job training or entry-level roles in reputable institutions in the finance industry. This is the best way to test both your hard and soft skills so you can prepare for actual Credit Controller jobs in Malaysia or beyond within the next few years.
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