Credit Controller Job Description Template

Finding a skilled credit controller begins with an engaging job description. If your post is to-the-point and straightforward, you will attract great candidates for the job. It is essential to give them an idea of your company culture and bulleted lists of the objectives and qualifications for the credit controller roles and responsibilities. The most compelling job descriptions are clear and detailed, keeping your readers engaged and helping them envision what it would be like to work at your firm. This guide will assist you in crafting a job description that meets your organisation’s needs and attracts top talent.

What does a credit controller do?

A credit controller ensures the company’s financial records are accurate and updated. They analyse and record business expenses, which helps organisations make informed decisions about their budgets and expenditures. As professionals, cost accountants are calculative and methodical to understand the how and why behind the numbers to fulfil fiscal responsibility.

Cost accountants also help companies determine the cost of production, track inventory levels and evaluate the performance of their operations from a financial perspective. They provide valuable insights to reduce costs and increase profits by analysing data from different sources. They also make timely and accurate reports on the company’s financial performance to present a detailed picture of its financial standing.

The role of cost accountants in an organisation includes preparing budget forecasts, developing cost-control systems, monitoring expenses, implementing cost-saving measures and interpreting financial data to identify trends or potential problems.

In India, cost accountants have many titles, such as financial analysts, budget analysts, and cost controllers. They can advance and take on more senior roles like Chief Financial Officer (CFO).

Job Description: Template

We are looking for a highly efficient and dynamic credit controller for our finance department at [Company X].

As a credit controller, you will administer the credit control function, ensuring all outstanding debts are collected on time. You will be critical in managing our credit and collections processes, ensuring timely payment collection and minimising credit risks. This also includes setting targets and KPIs and implementing relevant policies and procedures. You will also contribute to maintaining a healthy cash flow and optimising our financial performance.

If you are a detail-oriented finance connoisseur zealous about delivering financial excellence and customer satisfaction, we want to hear from you. We provide attractive remuneration packages with wide-ranging benefits and an inclusive, forward-thinking work culture that promotes professional progress.

Objectives of this role

Establishing credit limits and evaluating the creditworthiness of customers.
Develop and implement effective credit control policies and procedures to minimise credit risk and improve collection efficiency.
Managing credit and receivable accounts to contribute to the organisation’s overall financial stability and profitability.
Monitoring credit exposure and minimising bad debt risks at the organisation.
Assisting in collecting delinquent accounts and applying strategies to encourage timely payments.
Maintaining positive relationships with customers, while effectively mitigating credit risks and ensuring timely collections.
Conduct regular credit reviews and reassess credit limits based on payment history and changes in creditworthiness.
Coordinating with other departments such as sales, customer service and finance to handle all credit-related matters appropriately.

Your tasks

Monitor and manage the credit control processes, ensuring adherence to company policies and procedures.
Evaluate and assess the creditworthiness of new and existing customers through financial analysis, credit checks and payment history review.
Set appropriate credit limits for customers based on risk assessment and maintain accurate credit files and records.
Monitor customer accounts to ensure timely payments and address any payment delays or discrepancies promptly.
Engage with customers to establish payment plans, negotiate payment terms and resolve billing inquiries or disputes.
Develop and implement strategies to minimise late or non-payment by customers, including initiating collection actions and negotiating payment plans.
Generate regular reports on accounts receivable, collections and credit risk to management, highlighting areas of concern or improvement opportunities.
Stay updated on industry trends and best practices related to credit control and propose process enhancements or system improvements when necessary.
Maintain strong relationships with customers, providing excellent customer service and addressing their queries or concerns related to credit matters.

Required skills and qualifications

A bachelor’s degree in finance, accounting, or a related field.
3+ years of experience in managing credit and accounts receivables or in a similar credit management role.
Strong knowledge of credit control principles, practices and regulations in India.
Familiarity with Indian banking and credit regulations and customer segmentation.
Proficiency in using financial software and credit management tools.
Excellent analytical skills with the ability to evaluate financial information, perform risk assessments and make informed credit decisions.
Knowledge of Microsoft Office Suite, Indian accounting software and databases.
Ability to implement accounting principles and practices effectively.
Exceptional attention to detail and accuracy in data entry and documentation.
Outstanding communication and negotiation skills, with the ability to build rapport and effectively resolve conflicts.

Preferred skills and qualifications