Credit Officer Job Description Template
A Credit Officer is responsible for assessing and approving credit applications from potential borrowers. They must be able to evaluate an applicant's financial history and current financial situation to determine whether or not they are a good candidate for a loan. A Credit Officer must have excellent customer service skills in order to build relationships with applicants and answer any questions they may have about the process. They must also be able to work well under pressure and meet deadlines in a fast-paced environment.
Credit Officer Job Responsibilities
- Review and analyze customer credit data and financial statements
- Determine creditworthiness of customers and set credit limits
- Monitor credit exposure and risk levels
- Prepare reports on credit activity and trends
- Work with sales and collections staff to resolve customer payment issues
- Recommend changes to credit policies and procedures
- Keep abreast of changes in the marketplace and regulatory environment
Objectives
- To develop and maintain strong relationships with clients in order to promote repeat business and improve customer satisfaction
- To proactively identify opportunities for new business and cross-selling products/services
- To manage a portfolio of accounts, ensuring that all payments are made on time and within agreed terms
- To conduct regular reviews of account activity and performance, making recommendations for improvements where necessary
- To liaise with internal departments to resolve any queries or issues pertaining to credit accounts
- To keep up to date with industry changes and developments, sharing knowledge with colleagues as appropriate
Credit Officer Job Skills & Qualifications Needed
- The skills and qualifications needed for the role of Credit Officer include:
- Analytical and critical thinking skills
- Excellent communication and interpersonal skills
- A strong understanding of financial concepts
- Attention to detail
- Organizational skills
- The ability to work independently