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Credit Controller

What does a Credit Controller do?

A Credit Controller is responsible for managing the credit control functions within an organization to ensure timely payment from customers and clients. Their duties include assessing credit risk, setting credit limits, and establishing customer payment terms. Credit Controllers monitor overdue accounts, contact customers to chase outstanding payments, and negotiate payment arrangements when necessary. They maintain accurate records of payment transactions, reconcile accounts, and escalate unresolved issues to management. Additionally, Credit Controllers may implement credit control policies and procedures, analyze credit trends, and provide recommendations for improving cash flow and reducing bad debt.

    Tier 1

    .

    		 1 to 2
    years of
    experience

    Tier 2

    .

    		 3 to 5
    years of
    experience

    Tier 3

    .

    		 > 5
    years of
    experience

    ABOUT THE ROLE

    Roles and Responsibilities

    • Assessing credit risk and setting credit limits and payment terms for customers.
    • Monitoring overdue accounts and contacting customers to chase outstanding payments.
    • Negotiating payment arrangements and resolving billing disputes.
    • Maintaining accurate records of payment transactions and reconciling accounts.
    • Escalating unresolved issues to management.
    • Implementing credit control policies, analyzing credit trends, and providing recommendations for improving cash flow and reducing bad debt.

    Day-to-Day Duties

    • Assessing credit risk and setting credit limits.
    • Monitoring overdue accounts and contacting customers for payment.
    • Negotiating payment arrangements and resolving billing disputes.
    • Maintaining accurate payment records.
    • Analyzing credit trends.

    SKILLS AND TOOLS

    Soft Skills

    • Communication skills
    • Negotiation abilities
    • Empathy
    • Attention to detail
    • Problem-solving skills
    • Time management
    • Resilience
    • Diplomacy

    Hard Skills

    • Financial analysis
    • Credit risk assessment
    • Accounts receivable management
    • Billing and invoicing procedures
    • Data entry accuracy
    • Knowledge of credit control software

    Tools

    HighRadius, CreditPoint Software, or Sidetrad 70%
    QuickBooks, Xero, or Sage Intacct 90%
    Microsoft Outlook, Slack, or Zoom 80%

    Education

    Common Educational Backgrounds and Careers for this Role:

    • Public Accounting
    • Business administration
    • Forensic Finance
    • Economics
    • Mathematics
    • Banking and Finance
    • Financial Management
    • Business Management
    • Credit Management
    • Risk Management

    CANDIDATES TESTS

    Tests & Evaluations for Candidates

    QuickBooks

    QuickBooks Online (UK and US version) test to hire

    8/10

    Bookkeepers, accountants, financial clerks, financial managers, business and clerical administrators.

    GAAP

    Use the Financial accounting (US GAAP) test to hire

    8/10

    Bookkeepers, accounts assistants, financial accountants, financial managers, and other roles requiring a good grasp of financial accounting.

    IFRS

    Use the Financial accounting (IFRS) test to hire

    8/10

    Bookkeepers, accounts assistants, financial accountants, financial managers, and other roles requiring a good grasp of financial accounting.