Credit Manager

Consumers and businesses use credit to buy houses, cars, large domestic appliance, raw materials used for manufacturing and merchandise to be sold in shops. Credit managers have the final authority to accept or reject credit applications.

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In extending credit to businesses, a credit manager analyses detailed financial reports, interviews the representatives of the various companies, and reviews credit agency reports to determine the debt repayment records of such firms. When extending credit to individuals, credit managers rely on personal interviews, credit bureaux and banks, together with trade reference checking.

In large organisations, credit managers may be responsible for establishing a credit policy. Many establish office procedure and supervise credit department employees. They may contact customers who do not repay their debts punctually and ultimately can refer such accounts to debt collection agencies or attorneys.

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Personal Requirements

• persistent and persuasive
• good judgement
• enjoy detailed work
• work well with others
• pleasant personality and appearance
• aptitude for Mathematics or Accounting
• enjoy working with calculations
• able to communicate well in speech and in writing

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How to Enter

Schooling & School Subjects

• National Senior Certificate meeting degree requirements for a degree course
• National Senior Certificate meeting diploma requirements for a diploma course

Each institution has its own entry requirements.

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What to Study

Degree: BCom Accounting / BAccounting - most universities.

Courses in Credit Management are offered by UJ and UNISA.
A BTech in Credit Management is also offered by UNISA.

Diploma: N.Dip: Credit Management - UNISA

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Employment

• various businesses
• banks and building societies
• finance houses
• departmental stores
• retail companies

No self-employment possibilities exist, except perhaps as a debt collector

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Further Information

Institute of Bankers
Maitland Building, Ground Floor
18 Fricker Road
Illovo
Tel: (011) 268-0669
www.iob.co.za

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Getting Started

• try to obtain vacation work in an accounts department or bank, as a clerk
• make an appointment to speak to a credit manager about this type of career

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