Credit Manager Career

A Credit Manager plays the role of overseeing the various collection processes in a bank. He or she has to not only check customer accounts in the bank but also ensure that their customers are satisfied with the services of the bank. A credit manager has to thrive constantly towards improvement and focus on sales activity. The key responsibility of a credit manager is to protect their employer’s finances by efficiently controlling credit offered as well as managing any and all customer debts.  In a nut shell, a credit manager career revolves around banks and their customers.

How to become a Credit Manager:

In order to pursue a career in credit management, one needs to be focused on two important subjects – commercial credit and consumer credit. Some personal attributes that will help in credit manager career growth include strong personal skills, good negotiation skills, thorough knowledge of credit management, knowledge and understanding of the credit and debt market. Initially, one has to start their career from the position of a debt collection agent or a credit controller and then gradually work their way up to becoming a credit manager.

Credit Manager Career courses, training, programs:

There are different levels of credit management programs available in colleges and universities. One can pursue a simple bachelor’s degree on credit management or even advanced certification courses or pursue an MBA in finance. Some accredited institutions also offer advanced certification course in credit management. 

Credit Manager Career schools/colleges, education:

A basic degree in credit management is all that one really needs to kick start their career. Some of the important areas of study of credit management include risks and constraints of business growth, understanding loan management, risks in loan portfolio, debt management, fair credit reporting, management principles, micro and macro economics among others.

Top 5 colleges/universities:

William Rainey Harper College

George Washington University

MIT Sloan

Stanford business school

John Hopkins University        

Credit Manager job opportunities, salaries/pay:

The average salary for a Credit Manager in the USA varies from $34,641 to $92,468 annually with bonus ranging from $986 to $19,741 annually.

Category: Banking Careers

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