Credit Controller

Credit controllers are employed by firms to handle all the liaison and administrative duties arising from hire-purchase transactions. In this way the hire-purchase system can be managed on an organized basis and the interests of both buyer and seller can be protected.


Over the years, buying on credit has become a customary way of doing business. Customers use credit extensively to buy houses, cars, large domestic appliances and many other goods and services. The vast majority of business purchases, such as raw materials used in manufacturing and merchandise to be sold in retail stores, are also bought on credit so that businesses do not have to tie up their cash in inventories.

Credit controllers are responsible for opening accounts for prospective customers in accordance with the company’s credit-policy by investigating the credit-worthiness of prospective buyers, drawing up the hire-purchase contracts, and collecting the deposits and payments. They sometimes have the financial authority to accept or reject credit applications. In extending credit to a business the credit controller reviews financial reports submitted by the applicant, interviews representatives of the business, and reviews credit reports to determine the records of the firm in repaying debts.

When extending credit to individuals, the credit controller relies on personal interviews, credit bureaus and banks. Although it is not necessarily the duty of the credit controller to formulate the hire-purchase contract (it is usually the task of executive level credit managers in cooperation with other top managers to formulate company credit policy), he/she must be able to interpret the legal terms and requirements to clients. In some large organisations, the credit controller may be responsible for establishing a credit policy. He/she must also ensure that both parties sign the contract correctly.

Credit controllers have to check all accounts monthly and contact customers who are unable or refuse to pay their debts. They do this through writing, telephoning or personal contact. If these attempts fail, they may refer the account to a collection agency or assign an attorney to take legal action.


Key skills in this job are to be a good communicator, with a tactful manner, able to keep calm under pressure, be assertive, have good number skills and the ability to explain financial matters clearly.


Employment


  • various businesses

  • banks and building societies

  • finance houses

  • departmental stores

  • retail companies


No self-employment possibilities exist, except perhaps as a debt collector


Getting Started


  • become as figure orientated as possible

  • try to obtain vacation work as an assistant to a credit controller, for example in a retail company

  • make an appointment to speak to a credit controller about this type of career


Programmes

Abm University College, Adventist University of Central Africa, AFDA, Afda Botswana, Africa Nazarene University, Archbishop James University College, BA ISAGO University College, Bindura University of Science Education, Boland TVET College, Boston City Campus & Business College, Botho University, Botswana College of Distance and Open Learning, Buffalo City TVET College, Capricorn TVET College, Catholic University of Eastern African, Cavendish University, Central Johannesburg TVET College, Chinhoyi University of Technology, Coastal KZN TVET College, College of Cape Town , Cornerstone Institute, CTI Education Group, Daystar University, Dedan Kimathi University of Technology, Eastcape Midlands TVET College, Egerton University, Ehlanzeni TVET College, Ekurhuleni East TVET College, Ekurhuleni West TVET College, Embu University College, Esayidi TVET College, False Bay College, Flavius Mareka TVET College, Gaborone Academy of Education, Gaborone University College of Law and Professional Studies, Gert Sibande TVET College, Gideon Roberts University, Goldfields TVET College, Great Zimbabwe University, Gretsa University, Helderberg College NPC, ICESA City Campus, Imperial School Of Business and Science, Ingwe TVET College, Institute of Applied Sciences, Institute of Development Management, International University of Management, Jomo Kenyatta University of Agriculture and Technology, Jomo Kenyatta University of Agriculture and Technology (Tanzania), Kabarak University, Kaimosi Friends University College, Karatina University, KCA University, Kenya Highlands Evangelical University, Kenyatta University, Kepler Kigali, Kibabii University, Kigali Independent University, King Sabata TVET College, Kirinyaga University College, Kisii University, Laikipia University, Letaba TVET College, Limkokwing University of Creative Technology, Lira University, Lovedale Public TVET College, Lukenya University, Lyceum College, Machakos University College, Majuba TVET College, Maluti TVET College, Management College of Southern Africa (MANCOSA), Management University of Africa, Marian University College, Meru University of Science and Technology, Milpark Education, Mnambithi TVET College, Monash South Africa, Mopani South East TVET College, Motheo TVET College, Mount Kenya University, Muhabura Integrated Polytechnic College, Multimedia University of Kenya, Murang'a University of Technology, National University of Science & Technology, Ndejje University, Nelson Mandela Metropolitan University, Nkangala TVET College, Northlink College, Open University of Tanzania, Orbit TVET College, Oval International Computer Education, Pan Africa Christian University, Production Management Institute of Southern Africa, Regenesys Management, Regent Business School, Richfield Graduate Institute of Technology, Rongo University College, Rosebank College, Scott Christian University, Sedibeng TVET College, South African School of Motion Picture, South Cape TVET College, South West Gauteng TVET College, St Paul's University, St. Augustine University of Tanzania, Stefano Moshi Memorial University College, Strathmore University, Swaziland College of Technology, Taita Taveta University College, Technical University of Kenya, The Co-Operative University, Tom Mboya University College, Tshwane North TVET College, Tshwane South TVET College, Tumaini University Makumira, Uganda Technology and Management University, Umfolozi TVET College, Umgungundlovu TVET College, United States International University, University of Botswana, University of Dar Es Salaam, University of Education Winneba, University of Eldoret, University of Fort Hare, University of Johannesburg, University of Kigali, University of KwaZulu-Natal, University of Limpopo, University of Lusaka, University of Mauritius, University of Nairobi, University of Pretoria, University of South Africa, University of Stellenbosch, University of Technology and Arts of Byumba, University of Technology Mauritius, University of the Free State, University of the Western Cape, University of Zululand, Varsity College, Vuselela TVET College, Walter Sisulu University, Waterberg TVET College, West Coast TVET College


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