What does a Credit Controller do?
Credit Controllers focus on mitigating risks and maximising profits by ensuring credit issued by the company is paid in full and on time. They are continually looking for ways to make the debt collecting process more accessible, more punctual and beneficial for both the company and the client. A Credit Controller also helps a company with future decisions by reporting and analysing current financial activity within the company.
Credit Controller skills and qualifications
Successful Credit Controllers are comfortable communicating clearly with both individuals debtors and company executives. Bonus skills include familiarity with accounts receivable procedures and reconciliation of month-end accounts. A successful Credit Controller candidate will have various prerequisite skills and qualifications that include:
- Excellent customer service
- Patience and the ability to remain calm in stressful situations
- Analytical skills and thorough attention to detail
- The ability to listen and negotiate with customers
- Excellent verbal communication
- Persistence and determination
- Familiarity with data entry software
- Ability to work well in a team
Credit Controller experience requirements
Ideal candidates have experience making successful credit decisions and general familiarity with how to record and report financial transactions. Some employers prefer a candidate with at least five years of experience as a Credit Controller, but they also consider an applicant with a bookkeeping or accounting background. Most employers require candidates with some experience with data-entry, basic Maths and a valid driving license in many cases.
Credit Controller education and training requirements
Employers usually hire candidates with a college certification, preferably with a Level 3 Certificate or Diploma in Financial Studies. An intermediate apprenticeship usually follows this certification as an Account and Finance Assistant or an advanced apprenticeship for Credit Controllers and Debt Collection Specialists.
For some companies, college courses are not necessary if the candidate has previous experience and training from another company. Many companies hire applicants with 3 to 5 GCSEs at grades 9 to 4 have an understanding of accounting software and give them on-the-job training equivalent to a college course. Quality candidates often have a bachelor’s degree in finance or business.
Credit Controller salary expectations
According to Indeed Salaries, the average salary for a Credit Controller in the UK is £22,527 per year. Salary is dependent on experience, location and company.
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