Job Responsibilities
I spend 2-3 hours daily reviewing contract terms and conditions
(t&c's), negotiating with customers on the t&c's and making sure
that we have fufilled all the contract requirements. This is a
very important part of my job because it ensures that we can
comply with all the contract requirements and that our customer
understands what we expect of them. Doing this up front usually
ensures a much quicker payment of our bill to the customer.
I spend about 3-4 hours a day calling customers for payment on
their accounts. I generally only handle the larger customers or
problems accounts that my 2 collectors can't resolve. These
accounts are other businesses with a few consumers. Included in
this time is problem solving with various department managers.
Usually another hour is spent on reviewing credit applications
from potential customers and working with my admin assistant to
determine what things need to be done to get an account approved
or extent a line of credit to a customer.
So most of the day is gone but I still have to squeeze in any
personnel issues, make sure that my collectors are staying on
track and making the calls so the money comes in. I also have to
report to my boss, the treasurer, how much money we expect in so
he can do cash requirements for the company.
I travel about 2-3 days per month to our various shops, ride with
salesmen to meet customers and work on any special projects that
my boss needs me to help him with.
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Job Requirements
I have a BS in Finance. However, there is no education path for
a career in credit. Generally, accounting or finance will serve
you best. The National Association of Credit Managers has a
certification program with classes you take to allow you to
become certified as a credit professional. It has 3 levels and
you can start the program with no experience and it will help you
learn the basics all the way up to becoming a "Certified Credit
Executive". I currently hold a CICP - Certified International
Credit Professional designation which I got for taking courses
and a very hard test.
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Uppers
I love the customer contact. It's fun talking to and helping customers solve
problems. Most of my customers are really nice people even when my company has
done something to make them mad. It's very challenging to negotiate contracts and
you get a great sense of satisfaction when you have a successful negotiation
after months of work.
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Downers
I don't like the personnel problems, when you are the boss it's
up to you to make sure the work gets done if someone doesn't show
up. It's really hard to call in sick because it makes my people,
who already work hard, have that much more to do.
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Lifestyle
I generally work about 9 hours a day, unless I'm on the road. Travel usually
causes long days but fortunately it's only a few
days a month. You have to plan on evening meetings a few times a month and some
early morning sales meetings. But generally, I'm home every night and I like
that.
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Compensation
Last year I made a base salary of $55,000 with a bonus of $8500.
We have a full benefit package - Health Insurance, 401K, Pension,
etc.
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Advice to Jobseekers
If you are interested in a job in the credit field you will want
to check out the National Association of Credit Management's
website www.nacm.org - they have a listing of jobs and much more.
I would also contact larger companies in the area you are
interested in to see if they have trainee positions.
This is a field that will always be in demand. The worse the
economy - the more we are needed to collect money.
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