Credit manager

credit controller
Support

Career outlook for

Figures and forecasts for roles at the same level, which require similar skills and qualifications.

Average UK salary

Currently employed in Scotland

Jobs forecast

This information is supplied by LMI For All, where data is currently available for Scotland.

What's it like?

You would decide whether your company should lend money to a person or business or should let them have goods or services before they have paid for them.

If you do give them credit, you’d also agree with them how quickly they should pay back the money they owe your company.

You could work for a finance company or for any company that sells goods or services.

You’d lead a team which would assess whether a customer might borrow the money and not pay it back, or take goods and services and not pay for them.

You could focus either on commercial credit where you’d deal with business customers or consumer credit where you’d deal with money borrowed by members of the public.

In either area, you would:

  • Check customers’ credit rating with banks and credit reference agencies
  • Decide whether to offer credit
  • Set up the terms of credit and make sure that the customer pays on time
  • Negotiate repayment plans
  • Stop supplies of goods if business customers are late in paying
  • Start legal action to recover debts if necessary

In insolvency or bankruptcy cases you would liaise with other companies who are owed money, arrange for sheriff officers to reclaim the goods, or deal with the liquidators if a company’s assets are to be sold off.

You’d manage a team of credit controllers or accounting technicians.

In a smaller company, you might also do general accounting and administrative work.

Working conditions

Hours

In a full-time job you would work between 35 and 40 hours a week Monday to Friday. Overtime may be necessary at busy times such as the end of the financial year. Part-time work may be available.

Environment

You would be mainly office-based.

Travel

You might travel to visit customers or attend court.

UK employment status

Full-time

Part-time

Self employed

Here are some of the skills that people in this job would be most likely to have:

  • Communicating with people
  • Taking the lead
  • Communicating ideas through writing
  • Accuracy
  • Using computers
  • Budgeting
  • Planning and organising
  • Time management
  • Paying attention to detail
  • Making decisions

Build your skills

Your skills can help you choose the career that’s right for you. You can build your skills through work, study or activities you do in your spare time.

To understand more, have a look at what are my skills?

Keep track of your skills in your account and find the jobs, opportunities and courses that suit you.

Click here to view / add your skills

Getting in

Entry requirements for courses can change. Always contact the college, university or training provider to check exactly what you’ll need.

Foundation Apprenticeships

Choosing a Foundation Apprenticeship as one of your subjects in S5 and S6 can help you get a head start with this type of job.

You'll get an SCQF level 6 qualification (the same level as a Higher) plus valuable work placement experience and skills you can't learn in a classroom.

Interested? Find out what's on offer at your school on Apprenticeships.scot.

Qualifications

You would need qualifications at SCQF level 4 to 5 or equivalent qualifications; or a Modern Apprenticeship in Accounting (SVQ levels 2-4) or Providing Finance Services (SVQ level 2/3); or other relevant professional experience/qualifications.

Useful subjects

  • English (required by many courses and employers)
  • Maths (required by many courses and employers)
  • Accounts
  • Economics
  • Business or ICT subjects

Helpful to have

Qualifications that demonstrate customer service skills and understanding of finance such as Skills for Work Financial Services (SCQF level 5) or a Higher National Certificate (SCQF level 7), Higher National Diploma courses (SCQF level 8) in business or financial services.