Credit Controller Job Description

The Credit Controller plays a critical role in managing and safeguarding the financial health of the business by overseeing credit and collections. This position is responsible for the full credit control lifecycle, including managing outstanding debts, processing incoming funds, evaluating new credit requests, and collaborating closely with clients to ensure timely payments and account stability. The Credit Controller will report directly to the Company Accountant and work in partnership with the finance team to ensure an accurate and efficient credit control process.

The primary responsibilities of this role include managing outstanding debts from existing clients and ensuring effective collections to maintain cash flow. This involves coordinating debt recovery efforts, reconciling overdue accounts, and implementing payment plans when necessary. Maintaining detailed records of all debtors and recovery activities is essential to track progress against monthly collection targets.

The Credit Controller also focuses on client relationship management, developing strong, professional relationships to facilitate seamless account management. This includes regular communication with clients to resolve invoice discrepancies, address account queries, and negotiate payment terms as needed. Acting as a liaison between clients and the finance team, the Credit Controller ensures transparent and respectful credit management practices.

Evaluating new credit requests is another key responsibility. This involves conducting thorough credit checks, assessing financial risk, and determining creditworthiness to make informed recommendations on credit limits. Establishing terms and conditions for credit, including payment schedules and limits, in alignment with company policies, is essential for maintaining balance in new and ongoing client relationships.

Processing and reconciling incoming payments is a significant part of the role, ensuring alignment with outstanding invoices and maintaining accuracy. Preparing regular account statements and reports for clients, summarizing transactions and outstanding amounts, and managing the monthly and annual reconciliation of accounts are also central tasks. The Credit Controller collaborates with the finance team throughout these processes, ensuring timely, accurate data entry and reporting.

The Credit Controller is responsible for generating regular reports on outstanding debts, credit risk, and collections performance. These insights inform leadership and finance teams, contributing to the monthly reporting cycle and offering a clear view of collections status and account health. Ensuring adherence to credit policies and procedures is also essential, with a focus on identifying areas for improvement and implementing them effectively.

Qualifications and Skills:
The ideal candidate will have a Bachelor’s degree in finance, accounting, business administration, or a related field, with proven experience in credit control, collections, or accounts receivable, preferably within [Industry]. They should demonstrate strong knowledge of credit management principles, financial risk assessment, and debt recovery processes. Excellent communication and negotiation skills, along with proficiency in financial software and MS Office, particularly Excel, are essential.

Why Join Us?
As a crucial member of the finance team, the Credit Controller will have a direct impact on our company’s financial stability and success. This role offers the opportunity to work closely with both internal and external stakeholders, positively contributing to client experience and strengthening our credit management function. We invite proactive, detail-oriented candidates with a strong background in credit control to apply.

Application Process:
Interested candidates should submit a resume and cover letter, highlighting their experience in credit control, relationship management, and achievements in improving collections and client satisfaction.

Job Title: Credit Controller

Location: [Insert Location]
Job Type: Full-Time/Part-Time/Contract
Department: Finance/Accounts Receivable
Reports To: Finance Manager/Head of Credit Control

Job Summary:

The Credit Controller is responsible for managing the company’s debtors and ensuring timely payments are made by customers. This role involves evaluating creditworthiness, managing overdue payments, and maintaining customer relationships while minimizing financial risk to the business. The ideal candidate will be detail-oriented, skilled in communication, and adept at managing multiple accounts to ensure a healthy cash flow.

Key Responsibilities:

• Debt Collection: Chase outstanding invoices by phone, email, or mail to ensure timely payment. Follow up on overdue accounts.
• Credit Risk Management: Assess the creditworthiness of new and existing clients by reviewing credit applications, financial statements, and credit reports.
• Payment Allocations: Accurately allocate payments received to appropriate customer accounts.
• Account Reconciliation: Reconcile customer accounts to ensure accurate financial records and address discrepancies promptly.
• Reporting: Prepare regular reports on accounts receivable, aged debtors, and cash flow forecasting. Provide insight and recommendations to senior management.
• Negotiation: Negotiate repayment terms with customers, set up payment plans, and manage disputes effectively.
• Customer Relations: Build and maintain strong relationships with customers while upholding the company’s credit policies.
• Compliance: Ensure all credit and collection activities comply with company policies and relevant regulations.
• Process Improvement: Suggest and implement improvements to the credit control process to optimize collections and reduce aged debt.

Key Requirements:

• Education: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field (preferred but not essential).
• Experience: 2+ years of experience in credit control, accounts receivable, or a similar financial role.
• Skills:
  • Excellent communication and negotiation skills.
  • Strong attention to detail and high level of accuracy.
  • Ability to work independently and within a team.
  • Proficiency in financial software and Microsoft Office, particularly Excel.
  • Knowledge of accounting principles and credit management.
  • Analytical skills for assessing credit risk and financial data.
• Personal Attributes:
  • Assertive, but able to build positive relationships with customers.
  • Problem-solving mindset with a proactive approach to collections.
  • Ability to prioritize tasks and work under pressure.

Benefits:

• Competitive salary and bonus structure.
• Health insurance, pension plan, and other benefits.
• Opportunities for professional development and career progression.

How to Apply:

To apply for this position, please submit your resume and a cover letter to [Insert Application Email] or visit [Insert Company Website].

We are an equal opportunity employer and welcome applicants from all backgrounds.

This job description can be tailored to your specific needs or industry, but it outlines the typical duties and qualifications expected for a credit controller role.