Those working in credit control have to be good communicators and an avid interest in working in finance. Credit controllers need to keep calm under pressure, be assertive, and have good number skills as well as the ability to explain financial matters clearly.
Credit controllers check the credit ratings of a company’s customers to evaluate if they should be offered credit. They set up terms and conditions of the loan and ensure the customers pay on time. Credit controllers are also responsible for starting legal proceedings against the company or an individual if payments are not made.
Employers expect credit controllers to have a background in business, although there is no one set entrance route into credit control. Bachelor’s degrees or diplomas in business, finance or accountancy, as well as previous banking experience can help in your job search. Credit controllers also need to have a business-oriented mind and good team management skills.
Credit controllers usually receive on-the-job training where they will learn about credit law and the different in-house systems used by more experienced colleagues. In many cases, employers will send a junior credit controller to courses for them to learn about litigation and insolvency proceedings. Ongoing training is a necessity for credit controllers in order to keep up with new legislation.
A credit controller’s promotion route starts from a junior role to a credit manage and onto a general management position. To gain promotions or an increase in salary, consider changing companies or move into a credit control role in a different sector. Some credit controllers use their experience and knowledge to work within the insolvency department of an accountancy firm or as a freelance consultant.
As a credit controller, confidence with mathematics is important. Additional experience in office work, customer service or accounts can also be advantageous in your career.