Credit Manager Job Description

The person who gives the final approval for loan or credit is known as the credit manager. The credit managers give their final approval after making sure that the customer is able to pay back the loan. To know more about this profession, read the credit manager job description given for your read.

The credit manager's post is extremely important. It has gained even more prominence since the global recession. They now have to be even more careful to whom they can lend out loans. One of the reasons why the recession took place was because people were not being able to pay back their loans. Hence, the credit manager is responsible to make the assessment whether a person can clear off his or her debts.

The manager has to manage the whole credit department. They have to put measures in place so that the people who come in for loans are fully verified. Each person who has a credit card or a bank account has a credit history, which can be accessed through his or her social security number. The credit department does the credit check of each customer.

Not all loans come for the manager's approval though; the clerks of the department handle the small ones while the bigger loans come directly to the manager. The manager has to show a lot of intelligence while lending out loans as banks make most of their profits through loans. The manager also needs to have a gut instinct while approving loans. Sometimes a customer may not look good on paper but actually might be an honest person, while another might look good on paper but turn out be a defaulter.

The credit manager has to devise new methods for doing background checks along with the usual ones. They also have to handle all the defaulters and foreclose on their assets if they do not pay back the credit. This is a tough job, but if you think you have it in you, read the credit manager job description given below in detail.

Duties and responsibilities of a credit manager

Education required by a credit manager

Career Advancement

They can move in to the corporate office of the bank.

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