How to Become a Professional Credit Manager


A credit manager is hired by organizations such as banks, hire purchase companies, building societies and other companies that sell goods or services, to control and protect the debts owed by their customers. To fit into this job there are requirements, skills and attributes that you must have. Here is a guide on how to become a professional credit manager.


Education requirements

There are a number of Degree options for aspiring credit managers. For an entry-level position such as that of an assistant LP Credit manager, collection specialist, credit specialist, personal banker or loan officer an associate's degree in credit management from a community college, junior college, technical college or university is usually enough to help you get the job. For an advanced position you are however required to have a bachelor's or master's degree program in Finance, business administration or business management. The specific Bachelor's and Master's degree in credit management are not available, but studies in related fields can also lead to a credit management job.


To be successful enrolled for an associate degree in professional credit management you will need to have a high school diploma or its equivalent. Likewise for a master's program you will need a bachelor's degree. The program length for an associate's program takes about two years, a bachelor's takes four years and a master's program also takes two years.


To make it in this career there are attributes that would give you an edge over others, such attributes include:


Experience in management is a plus, especially in the financial sector.


You ought to be a good negotiator and be good at working with other people.


You also need to demonstrate good analytical and investigative skills. This will be needed in dealing with the data and figures that appear in the financial statements. You should visit for more facts and information.


Have the knowledge and understanding of the federal, state and local laws that affect your locality.


You should also be able to think independently and arrive at decisions based on facts rather than being influenced by others.


Have good interpersonal and communication skills.


Professional certification


To be a professional credit manager you should consider professional certification. The National Association of credit Management (NACM), a U.S based non-profit organization promotes standards for the business-to-business credit profession. They offer certification to those who meet their requirements such as passing their exam.


There are a lot of opportunities for credit managers out there. The better part of it is that the often come with an attractive pay package. Knowing what is needed is important as it helps you in meeting the right requirements.