Credit Controller
Job Description:Credit controllers help firms get the money they are owed from businesses and individuals.
Job Category:What you will do:
In this role you could:
- contact customers when payment is late
- check credit records and find customers who owe money
- set up repayment plans and work with debt counsellors
- set up and maintain customer files
- process payments
- start legal processes if debts are not paid within an agreed time
- work with solicitors and bailiffs
Skills:
You’ll need:
- customer service skills
- administration skills
- to be able to use a computer and the main software packages competently
As well as:
- patience and the ability to remain calm in stressful situations
- the ability to accept criticism and work well under pressure (leadership skills)
- to be thorough and pay attention to detail (organisational skills)
- ambition and a desire to succeed
- persistence and determination
- excellent verbal communication skills
Entry Requirements:
To become a Credit Controller, specific subjects are not typically required. However, certain subjects and skills can be beneficial in preparing for a career in credit control, which involves managing the credit and financial aspects of a company’s operations. Here are some relevant subjects:
- Mathematics (Maths): Strong math skills are essential for performing calculations related to credit management, such as calculating interest, tracking payments, and assessing credit risk.
- Business Studies or Economics: These subjects can provide a foundational understanding of business principles, financial management, and economic concepts, which are relevant to credit control.
- English Language: Effective written and verbal communication skills are important for corresponding with clients, customers, and colleagues regarding payment matters.
- ICT (Information and Communication Technology): Proficiency in using spreadsheet software (e.g., Microsoft Excel) is valuable for managing financial data and creating reports.
Post School
You can get into this job through:
- a college course
- an apprenticeship
- applying directly
College
You could do a college course that may give you some of the skills required to do this job.
In the UK, for example, courses include:
- Diploma in Credit Management
- Certificate or Diploma in Financial Studies
- Level in Finance
Apprenticeship
You may be able to get into this role through the following apprenticeships:
- credit controller and collector intermediate apprenticeship
- accounts or finance assistant intermediate apprenticeship
- advanced credit controller and debt collection specialist
Direct Application
You can apply directly to be a credit controller, as many large companies will train you on the job. The qualifications and experience you’ll need will vary.
Most employers will expect you to have:
- the ability to use spreadsheets and computer accounts packages
- experience of office administration or customer service work
A qualification in bookkeeping or accounts can also be useful.
You may be able to move into credit control after getting experience in accounts, finance or debt collecting.
Working Hours and Environment:
A typical week consists of 38-40 hours of work. You could be required to work evenings/weekends on shifts.
You could work in an office, in a contact centre, from home or at a client’s business.
Career Path & Progression:
With experience and professional qualifications, you could be promoted to credit manager.
You could also start your own collection agency or become a freelance collector.