What Is A Credit Controller?
Credit controllers and debt collection agents are responsible for retrieving money owed to businesses or individuals that has not been properly paid. This job is available at third part collection agencies as well as debt purchasing companies.
Credit controllers can also find employment in a corporations credit or finance department where they would handle the recovery of late payments from customers and suppliers.
What Kind of Work Will I Do?
Credit controllers perform a range of functions. They are responsible for contacting businesses or individual customers when payment is past due, explaining credit terms to overdue customers and suggesting that they settle their accounts, and re-negotiating repayment options for those customers who are suffering significant financial burdens.
Credit controllers will also employ specialized computer databases to perform credit inquiries, create and update customer files, and handle the processing of payments.
If the customers are well overdue and are still not compliant with the payment terms, a credit controller will need to trace the missing debtors, perform a field collection in which they visit the debtors in order to collect payment, and may even have to initiate legal proceedings or arrange the repossessing of goods.
Credit controllers often consult with solicitors, debt counselors, and bailiffs on an as-needed basis to assist in the securing of payments.
What Qualifications Do I Need?
Individual employers will have different preferences on the qualifications and experience that they require for credit controllers. In general, employers expect credit controllers to have a strong general education background and proficiency with mathematics.
Some employers prefer that those applying for credit controller positions have GCSEs (A-C) including math-related experience. Those with qualifications or experience with book-keeping or accounting may have an advantage in the job search process.
Credit controllers might find it useful to have administrative and office experience as well as computer proficiency and customer-relations skills.
What Opportunities Are There For Further Training And Development?
The majority of training for a credit controller is done on the job itself and might include basics in credit law, telephone techniques, and insolvency protocol. Some employers prefer that credit controllers have official qualifications from the Institute of Credit Management or the Credit Services Association (CSA).
Those who would like to be considered for a credit manager position may benefit from garnering ICM or CSA qualifications. Both the ICM and the CSA offer a variety of seminars and workshops that can assist the professional development of credit controllers.
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