Credit controller

Credit controllers help to make sure that customers pay their bills on time. They identify overdue accounts and contact customers to ask for payment. Credit controllers build up good relationships with customers in order to persuade them to pay.

Work activities

All organisations need to make sure that they have enough money coming in each month to cover their costs. This includes companies that sell goods or services, and public sector organisations that provide services to the public. Selling things on credit means that the buyer does not have to pay for the goods/services immediately. They will be given a date by which they have to pay, either in full or in instalments. Credit controllers sometimes play a part in deciding which customers to grant credit to, and what the terms and conditions of the credit agreement should be. If the customer is another business, they might need to research that business’s history and financial reports to make sure that it is making enough money to pay its bills. They might also pay for a credit rating report from a specialist credit agency.

Credit controllers help to make sure that customers pay their bills on time. They run reports that show which bills are due to be paid and send out reminders. They might have targets to obtain payment for a certain percentage of bills by their due date. They identify overdue accounts and contact customers to ask for payment. They might make contact by letter or email, or they might telephone or even visit the customer. The method they use will vary according to the organisation, the type of customer, the amount outstanding and the length of time that the money has been owed.

Credit controllers try to identify and contact the right person in a business customer’s organisation; they need to contact the person who can authorise the payment. Some credit controllers work in the area of consumer credit. They contact individuals for payment, for example, for phone, gas and electricity bills and personal loans.

They need to build up good relationships with customers in order to persuade them to pay. They must deal tactfully but firmly with excuses for non-payment and negotiate appropriate ways for customers to pay. They must keep the goodwill of their customers during this process. If a customer still refuses to pay, or can’t pay, credit controllers might prepare details so that debt collection agencies or solicitors can take legal steps to recover the debt.

Credit controllers work closely with other finance and administration staff in their own organisation to make sure that payments are processed correctly and that records are updated. In this way, they aim not to contact customers who have already paid. They might also work with sales departments to review customer payment records when large orders are placed, for example.

In small companies, one credit controller might deal with all the customers. In a large organisation, a credit controller will deal with a list of customers as part of a credit control team. Some credit controllers work for agencies that deal with the customers of more than one client.

Personal qualities and skills

As a credit controller, you’ll need to be able to:

• Understand people and business methods.
• Work under pressure to meet tight deadlines.
• Negotiate with people who could be in financial difficulty.
• Deal professionally, politely and tactfully with people.
• Handle and defuse conflict.
• Pay close attention to detail.
• Work well in a team and on your own initiative.
• Prioritise and plan tasks.

You should have:

• Good verbal and written communication skills.
• A good telephone manner.
• Self-confidence, assertiveness and persistence.
• Number skills.
• Problem-solving and decision-making skills.
• IT skills. You will need to be able to use computerised office and accounting systems.

The ability to speak a foreign language could be useful in companies that sell their goods or services abroad.

Pay and opportunities

Salaries for credit controllers are similar to those in equivalent accounting roles. Salaries vary depending on the size and location of the employer. The pay rates given are approximate. Credit controllers earn in the range of £21,000 - £32,000 per year.

Credit controllers usually work 37 to 40 hours, Monday to Friday. In some organisations, credit controllers might need to work shifts.

Employers are almost every type of business in industry and commerce. Opportunities for credit controllers occur in towns and cities throughout the UK.

Where are vacancies advertised?

Vacancies are advertised in local/national newspapers, on job boards, on employers’ websites, through the Chartered Institute of Credit Management website, on the Government’s Find a Job service.

Entry routes and training

Some people enter credit control after gaining experience in accounts, finance, customer service or debt collecting. If you wish to enter this field straight from school or college, a level 2 (intermediate) or 3 (advanced) apprenticeship in the field of credit control is a good way into this profession. Large companies may offer training schemes for people with GCSEs or A-levels, while some people enter with a degree, HND or foundation degree in a business or finance subject.

On-the-job training is combined with study for the Chartered Institute of Credit Management’s (CICM) qualifications. You might be able to get exemptions from some of the exams if you already have certain relevant qualifications.

After further experience, credit controllers can progress to become senior credit controllers, credit supervisors, assistant credit managers and credit managers.

Qualifications

Employers are likely to require new entrants to have at least GCSEs in English and maths. This is a requirement of intermediate and advanced apprenticeship schemes. Many entrants have further qualifications, such as A-levels or equivalent. Some people enter as graduates. For entry to a degree course in any subject, the usual minimum requirement is:

• Two to three A-levels.
• GCSEs at grades 9-4 in two to three other subjects.

Alternatives to A-levels include:

• Edexcel (BTEC) level 3 National qualifications
• International Baccalaureate (IB) diploma.

To qualify for an intermediate or advanced apprenticeship, you’ll need GCSEs in English and maths. In some cases, you may be able to work towards these qualifications during the course of your apprenticeship programme.

Adult opportunities

Age limits: It is illegal for any organisation to set age limits for entry to employment, education or training, unless they can show there is a real need to have these limits.

Some new entrants have developed skills by working in banking, insurance, building society or accounting work, for example, as a bookkeeper or accounting technician.

No qualifications are required to register as a student with the Chartered Institute of Credit Management (CICM). The CICM Diplomas offer qualifications in Credit Management at levels 2, 3 and 5 that can be studied by distance learning or at evening classes.

Related careers

• Accounting technician
• Credit manager
• Debt collector