About the role
Credit managers work with lending within the financial sector and assess customers' creditworthiness. They are often employed by banks, finance companies, or credit institutions and have a background in economics, finance, or law. Education can vary from a college degree to specialized courses in credit analysis.Responsibilities
Credit managers are responsible for analyzing and assessing credit applications from individuals and businesses. They conduct risk assessments, review financial reports, and determine terms for loans. Maintaining good customer relationships and complying with laws and regulations are central to their work.Skills and tools
Credit managers must have strong analytical skills and knowledge of economic principles and credit risks. They use tools such as credit scoring systems and databases to collect and analyze information. Communication skills and an ethical approach are also important in the profession.