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What does a Credit Manager do?

Photo of Brenna Goyette
Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 2 min read

A credit manager is responsible for the credit policy of a company and for managing the credit department. They set credit limits, approve or deny credit applications, and oversee the collections process.

Credit Manager job duties include:

  • Reviewing and authorizing credit applications
  • Analyzing customer financial statements
  • Setting credit limits in accordance with company policy
  • Monitoring credit risk exposure and taking appropriate action
  • Working with customers to resolve past due accounts
  • Negotiating payment arrangements as necessary
  • Reporting on the status of accounts receivable
  • Identifying trends in customer payment behavior
  • Assisting in the development and implementation of credit policies
  • Training and supervising credit analysts

Credit Manager Job Requirements

Most credit managers have a bachelor’s degree in finance, accounting, or a related field. Some employers may require certification, such as Certified Public Accountant (CPA) or Certified Financial Manager (CFM). Many credit managers have several years of experience working in accounting or finance.

Credit Manager Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Budgeting
  • Forecasting
  • Variance analysis
  • Financial modeling
  • Finance
  • Asset management
  • Real estate
  • Banking
  • Lending

Related: Top Credit Manager Skills: Definition and Examples

How to become a Credit Manager

Credit managers are responsible for the creditworthiness of a company. They make sure that the company does not become overextended and that it maintains a good credit rating. To become a credit manager, you will need to have a strong understanding of financial principles and be able to analyze financial statements. You should also be able to negotiate with creditors and have excellent communication skills.

Related: Credit Manager Resume Example

Related: Credit Manager Interview Questions (With Example Answers)

Editorial staff

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Editor

Brenna Goyette

Expert Verified

Brenna is a certified professional resume writer, career expert, and the content manager of the ResumeCat team. She has a background in corporate recruiting and human resources and has been writing resumes for over 10 years. Brenna has experience in recruiting for tech, finance, and marketing roles and has a passion for helping people find their dream jobs. She creates expert resources to help job seekers write the best resumes and cover letters, land the job, and succeed in the workplace.

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