The job of a Credit Analyst is to provide a baseline assessment on a customer’s financial condition and authorize or decline customer credit line. A credit analyst takes care of minimizing bad debt risk, increasing the collections for all receivables and helps out with order management.
The credit analyst reconciles customer statements and billing data and communicates with the credit department. The credit analyst provides their input for process improvement mechanisms and management directives as prescribed by the business unit.
The Credit Analyst must be able to do the following task in their job function:
- The Credit Analyst is responsible assessing the credit risk and viability of a potential and existing client as well as establishes their current credit limit. You will analyze customer financial statements pertaining to a credit line application and provide financial guidance for order management support with supply chains and marketing units to control credit use while minimizing dispute and upholding effective payment.
- The Credit Analyst works with a production and collections unit, coordinating collections calls and instituting customer visits to procure accounts receivable and negotiate disputes to resolve and document the root cause.
Skills that Credit Analyst should posses:
- A Bachelors degree in Accounting or Finance related majors are preferred, but previous experience working in financial collections and or debt management is a plus.
- The ability to apply accounting principles in providing a professional interpretation of a clients financial statements, secure a timely payment program while using commercial sensitivity, business insight and professional judgement.
- Outstanding business writing skills and impeccable communication skills with exceptional customer service skills.
Work Related Expectations:
- A Credit Analyst is expected to have one to two years of experience in the use of documentation software such as MS Office or Lotus Suite, and a general knowledge of internet navigation as well as the operation of a computer.
- The Credit Analyst provide customer service at all times, and foster a relationship with internal and external clients .
- The Credit Analyst is expected to actively participate and communicate in a team of goal driven personnel and contribute to the success of the Credit Department.