Trade guide
Credit manager
The job of credit manager is a very important one for a company, since its aim is to safeguard the company’s funds. To do this, the credit manager must be both an accountant and a financial expert, as well as a risk specialist. It is a particularly complex and demanding job.
The business
What is a credit manager?
Its role
Credit managers work for companies in all sectors. However, the positions are most sought after in large companies, as they have more financial resources and therefore greater financial risks to manage.
Its field of action
Credit managers receive, sort and analyse loan applications for businesses. Most of them work in banks or financial institutions. They also receive loan applications and ensure that the files are complete and contain all the information required.
The credit manager’s role is to manage his customers’ loans. They can also help simulate project financing, and may be able to offer advice.
The functions
What does a credit manager do?
The role of a credit manager is vast. They help companies develop credit strategies, investigate customers, secure debt and receive payments. The credit manager is a credit professional who analysesloan or financing files.
It can also help companies to obtain loans and financing. They are also responsible for managing credit risks and monitoring customers. In this case, it must help them in their approach. Without the right approach, businesses cannot benefit from all the advantages of credit.
In more detail, the credit manager has the following responsibilities:
defining customer credit policy
dunning management
analysis of the solvency of client companies
litigation management
debt management
contact with external service providers
Qualifications
The qualities and skills needed to be a good credit manager
To be effective in their work, managers need to have a good professional background. They must also be highly autonomous, so as to be able to respond as effectively as possible to all customer requests. They must also be patient and have good analytical skills. It is also essential that they work as part of a team with other professionals.
Credit managers must have a basic knowledge of finance, accounting and mathematics. They must have a high level of expertise in financial, commercial and accounting regulations. They must also have legal knowledge.
The benefits
What are the advantages of being a credit manager?
A career as a credit manager can be very satisfying if you enjoy a challenge and working as part of a team. If you are a credit manager, you must be prepared to work hard. Credit managers may work in a large bank or in a brokerage firm. They may also work in association with credit agents whose job it is to sell financial products.
In all cases, the credit manager is responsible for obtaining the best rates and the most attractive offers for the customer.
The benefits of being a credit manager include: the opportunity to have a direct impact on people’s lives, the importance of customer service and human relations, the challenge and excitement of the day-to-day work, and the chance to build something new.
Remuneration
Credit manager: salary and career development
A credit manager’s salary depends on a number of factors, including experience, level of education and the size of the organisation. The average salary for a credit manager generally ranges from €2,000 to €3,700 per month. The most experienced credit managers, with more than 15 years’ experience, can earn more than 6,000 euros gross per month.
Working as a credit manager is a choice like any other. As well as the financial aspects of the job, other professionals choose it for the social aspects. Credit managers often continue their career development insales, finance or accounting management. A credit manager may also work for a consultancy specialising in customer risk.
Up to
6 000€
Monthly salary
Training courses
How do you become a credit manager?
Our training courses
The profession of credit manager is accessiblethrough work-linked training . At our school, INSEEC, in one of our 4 programmes:
you will obtain a diploma certified or recognised by the Ministry of Labour and Employment from BAC to BAC+5. The job is generally open to graduates in commerce, accounting and management, finance and management.
Would you like to meet our teams to find out more about our different programmes? Then come along to one of our information meetings, either online or at the school.
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