Credit Officer
Credit officers examine, evaluate and process applications for credit or loans and, in a commercial enterprise, control and process accounts.
Credit officers may perform the following tasks:
- assess loan requests or commercial credit applications through interviews with applicants and checking application forms, references, credit ratings, credit scores, pay slips and other information
- approve or recommend approval of loans and commercial credit applications within policy guidelines
- prepare papers setting out conditions and periods of loans, rates of repayment or, in a commercial area, the setting out of trading terms
- prepare reports of loans and accounts which have outstanding (unpaid) amounts
- keep records of arrears (behind in payments) and prepare routine letters or make telephone calls requesting payment
- prepare statements of overdue accounts and forward these for legal action
- prepare reports on credit ratings of customers
- answer enquiries concerning loan balances or commercial accounts, penalties and credit standing of customers.
Specialisations:
Credit Manager
A credit manager responsible for the credit policy of the business. This includes establishing and controlling credit limits and terms, and developing company policies and strategies in consultation with other senior executives.
Personal Requirements:
- good with numbers and able to make calculations quickly and accurately
- good communication and negotiation skills
- able to be firm yet tactful.
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