What does a credit control manager do?

1 Role and responsibilities

A credit control manager typically reports to the finance director or the chief financial officer of a business. They are responsible for managing a team of credit controllers, who are in charge of contacting customers, issuing invoices, chasing payments, and resolving disputes. Furthermore, the credit control manager liaises with other departments to ensure that the credit terms and conditions are clear, consistent, and fair. Among their main responsibilities are setting and reviewing the credit policies and procedures of the business to ensure compliance with relevant laws and regulations, establishing and monitoring credit limits and ratings of customers, conducting regular credit checks and risk assessments, developing strategies to reduce bad debts, write-offs, and provisions, preparing reports on the credit performance and cash flow of the business to identify areas for improvement or action, negotiating with customers, suppliers, and third parties on payment plans, discounts, or settlements, escalating and resolving complex or high-value credit issues while taking legal action if necessary, training and motivating the credit control staff while evaluating their performance and productivity, as well as keeping up to date with industry trends, best practices, and regulations related to credit control.

2 Skills and qualifications

A credit control manager needs to possess a combination of technical, interpersonal, and managerial skills to perform their role effectively. Generally, they should have a bachelor's degree in accounting, finance, business administration, or a related field. While some employers may prefer candidates with a master's degree or professional certification such as the Certified Credit Professional (CCP) or the Certified Credit Executive (CCE), it is also important for a credit control manager to have at least five years of experience in the field, preferably in a supervisory or managerial position. Moreover, they should be proficient in accounting software, spreadsheet applications, and database management systems, and have knowledge of the principles and practices of credit control, risk management, and cash flow analysis. Additionally, they should be able to communicate clearly and persuasively with customers, staff, and stakeholders both verbally and in writing; negotiate effectively and diplomatically; analyze data; generate reports; present findings and recommendations; plan, organize, and prioritize tasks; lead, motivate, and develop a team of credit controllers; adapt to changing business needs and market conditions; and meet deadlines and targets.

3 Challenges and opportunities

As a credit control manager, there are various challenges and opportunities to consider. Common challenges include dealing with customers who are unable or unwilling to pay, maintaining a good relationship with customers while protecting the business from financial losses or legal risks, managing workloads and staff performance, keeping up with industry changes, and managing expectations and feedback from senior management and other departments. Opportunities include improving cash flow and profitability, developing innovative solutions, building a strong network in the industry, and leading and inspiring a team of credit controllers.

4 Here’s what else to consider

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