What's it like to be a Credit Manager?
Credit Managers analyse financial data and information to assess the creditworthiness of potential and existing customers. This involves evaluating credit reports, financial statements, payment history and other relevant factors to make informed credit decisions. Credit Managers have the responsibility of approving or denying credit applications, setting credit limits and determining credit terms for customers.
Tasks and duties
- Assessing the creditworthiness of customers.
- Developing and implementing credit policies, procedures, and guidelines to ensure consistent and effective credit risk management.
- Making informed decisions on credit approvals, credit limits, and credit terms for customers.
- Staying up-to-date with relevant credit laws, regulations and industry practices.
- Preparing and presenting credit-related reports and analysis.
- Implementing measures to detect and prevent fraudulent credit applications.
How to become a Credit Manager
You usually need a formal qualification and relevant experience to excel in this career.
Complete a relevant qualification, such as a bachelor degree in finance, accounting, business administration or a related field.
Consider pursuing professional certifications that are recognised in the credit industry. While not always mandatory, certifications can enhance your credentials and job prospects. This could include the Certified Credit Professional (CCP) from the Credit Management Association of Malaysia (CMAM).
Consider specialising in specific areas of credit management, such as commercial credit, consumer credit or risk management. Having a specialisation can make you more competitive in the job market.