Comprehensive credit controller job specification :Key Responsibilities and Skills

Comprehensive credit controller job specification :Key Responsibilities and Skills
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jobs Nov 7, 2024 0

A credit controller job specification is a detailed document outlining the responsibilities, qualifications, and skills required for a Credit Controller role within an organisation. It serves as a guide for both the hiring company and potential candidates, ensuring clarity on the expectations of the position.

credit controller job specification

credit controller job specification mainly includes the duties of managing and controlling the credit policies of the company to ensure the collection of debts on time while also accurately maintaining all the financial records of the company. The following are some of the responsibilities and qualifications included in the job specification of a credit controller:

Credit Controller duties and responsibilities

The Credit Controller takes charge of the credit and bad debt collection of the company. The key responsibilities and roles amount to:

  • Proactively managing and recovering outstanding debts from customers.
  • New credit applications checked, reviewing of financial standing of the clients performed with credit checks, and liaison with banks.
  • Establishing, defining, and developing credit terms and conditions for new and old clients.
  • Perform timely payments, alongside follow-up on overdue accounts.
  • Assist in negotiating payment arrangements and/or repayment plans when required.
  • Handle customer inquiries about their accounts and any problems pertaining to the said accounts.
  • Process and reconcile invoices to ensure accuracy of the same.
  • Enter receipts into the accounting system and ensure records are kept accordingly.
  • Maintain and update the sales ledger, ensuring records are current.
  • Liaising with customers and the sales team to ensure that credit management and payment processes are smoothly resolved. 
  • Drawing on regular reports and statements in preparation for and presentation to the finance team or the accountant of the company.

Credit Controller qualifications

Here are the Credit Controller qualifications:

◼Educational Background: 

  • Bachelor‘s degree in Finance, Accounting, Mathematics, or any related courses.

◼Work Experience:

  • Proven work experience in credit control or debt collection, with a good understanding of the process relating to credit management.

◼Legal Knowledge: 

  • Knowledge of the legal aspects of credit, loans, terms of payment, interest rates, and procedures for debt recovery.

◼Technical Skills: 

  • Skilled in using accounting software, financial systems, and Microsoft Office Suite (Excel).

◼Account Reconciliation: 

  • Exhibited great prowess in account management and reconciliation of complex debtor accounts with high accuracy.

◼Communication Skills:

  • Excellent verbal and written communication skills to negotiate effectively with clients and manage relationships.

◼Problem-Solving Skills: 

  • To handle any difficult or sensitive situation arising with   clients, calms and professionals
    confidently.

◼Attention to Detail: 

  • Very attentive to detail when processing invoices, managing accounts, and preparing financial reports.

◼Confidentiality:

  • Ability to maintain strict confidentiality when handling sensitive financial information.

◼Knowledge of Financial Systems: 

  • Knowledge of accounting/financial software platforms for invoicing, collection, and credit control, and financial reporting.

read more: Find out operations manager job requirements

Credit Controller jobs in Dubai salary

In Dubai, the average salary for a Credit Controller is approximately AED 5,240 per month. However, this can vary depending on factors such as:

  • Experience: Entry level Credit Controllers may earn less, while those with more experience or in senior positions may earn higher salaries.
  • Industry: Salaries can differ based on the industry (e.g., banking, retail, construction, etc.) as well as the size and financial stability of the company.
  • Qualifications: Holding advanced qualifications or certifications in accounting or finance can result in a higher salary.

Comprehensive credit controller job specification :Key Responsibilities and Skills

In conclusion, credit controller job specification highlights the importance of managing and recovering outstanding debts to maintain a company’s financial health.

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