Assistant Credit Manager

Roles and responsibilities

1. Credit Assessment and Analysis

• Assist in evaluating credit applications from customers, analyzing their creditworthiness, and determining appropriate credit limits.
• Review financial statements, credit reports, and other relevant documentation to assess risk and make informed credit decisions.

2. Credit Policy Implementation

• Support the development and enforcement of credit policies and procedures to mitigate risks associated with credit sales.
• Ensure compliance with company policies and regulatory requirements related to credit management.

3. Account Monitoring

• Monitor customer accounts to ensure timely payments and adherence to credit terms.
• Track overdue accounts and coordinate with the Credit Manager to implement collection strategies as needed.

4. Customer Communication

• Serve as a point of contact for customers regarding credit inquiries, payment terms, and account issues.
• Build and maintain strong relationships with customers to foster trust and open communication regarding credit matters.

5. Reporting and Documentation

• Assist in preparing credit reports and analyses for management, highlighting trends, risks, and opportunities.
• Maintain accurate records of customer credit information, transactions, and communications.

6. Collaboration with Other Departments

• Collaborate with sales and finance teams to ensure alignment on credit policies and to address customer needs effectively.
• Work closely with the collections department to facilitate the recovery of outstanding debts.

7. Risk Management

• Identify potential credit risks and escalate concerns to the Credit Manager for further action.
• Participate in the development of risk management strategies to protect the organization from credit losses.

8. Training and Development

• Assist in training new staff in credit management processes and policies.
• Stay informed about industry best practices and changes in credit regulations to ensure the team operates effectively.

9. Process Improvement

• Contribute to the continuous improvement of credit processes and systems to enhance efficiency and effectiveness.
• Provide feedback on credit policies and suggest improvements based on industry trends and customer feedback.

10. Budgeting and Forecasting

• Support the Credit Manager in developing budgets and forecasts related to credit and collections.
• Analyze data to project future credit risks and inform financial planning.

Desired candidate profile

1. Educational Background

• A bachelor’s degree in finance, accounting, business administration, or a related field is preferred.
• Additional certifications in credit management or finance (e.g., Certified Credit Professional) can be advantageous.

2. Experience

• A minimum of 2-4 years of experience in credit management, finance, or a related field.
• Prior experience in accounts receivable, collections, or risk assessment is beneficial.

3. Analytical Skills

• Strong analytical and problem-solving skills to assess creditworthiness and make informed decisions based on financial data.
• Ability to interpret financial statements, credit reports, and other relevant documentation.

4. Knowledge of Credit Policies

• Familiarity with credit policies, risk assessment practices, and regulatory requirements.
• Understanding of credit analysis techniques and industry best practices.

5. Attention to Detail

• High level of accuracy and attention to detail in processing credit applications, account monitoring, and documentation.
• Ability to identify discrepancies and take appropriate action.

6. Communication Skills

• Excellent verbal and written communication skills to interact effectively with customers and internal stakeholders.
• Ability to explain credit terms, policies, and procedures clearly to customers.

7. Customer Service Orientation

• Strong customer service skills to build and maintain positive relationships with clients.
• Ability to handle customer inquiries and issues professionally and efficiently.