Credit Manager

TEEMA Solutions Group; Mississauga; On-site; CAD 80,000 - 110,000; Full time

Job summary

A leading company in financial services is seeking a skilled Credit Manager to oversee credit risk and management functions. The successful candidate will be responsible for evaluating creditworthiness, managing accounts, and minimizing risks associated with credit. This role requires a strong background in credit management, preferably in the fuel card or financial services industry, along with effective communication and analytical skills.

Qualifications

• 4-5 years experience in credit management or financial analysis.
• Strong understanding of credit risk management and debt recovery processes.
• Experienced with credit management software and financial modeling tools.

Responsibilities

• Assess creditworthiness of customers by analyzing financial statements.
• Set and review credit limits based on customers' credit profiles.
• Oversee collections process and ensure timely follow-ups on overdue accounts.

Skills

Analytical skills

Problem-solving skills

Credit scoring knowledge

Financial analysis

Risk assessment

Attention to detail

Education

Bachelor’s degree in Finance, Accounting, Business Administration or related field

Credit management certification

Tools

Credit management software

Microsoft Excel

SAP

Oracle

Job description

Job Title: Credit Manager
Reports To: Manager/Directors
Job Type: Full-Time, Permanent

Job Overview:

At CPL we are seeking a highly skilled and experienced Credit Manager to oversee the credit risk and credit management functions within our fuel card business. As the Credit Manager, you will be responsible for evaluating the creditworthiness of new and existing customers, managing credit limits, overseeing payment collections, and minimizing the risk associated with credit extended through our fuel card products.

The ideal candidate will have a strong background in credit management, ideally within the financial services or fuel/card industry, with experience managing customer accounts, analyzing financial data, and implementing effective credit policies and strategies.

Key Responsibilities:

Credit Assessment: Assess the creditworthiness of potential customers applying for fuel cards by analyzing financial statements, credit reports, and other relevant data.

Credit Limits: Set, review, and adjust credit limits for existing and new customers based on their credit profiles and financial behavior.

Risk Mitigation: Develop strategies to minimize credit risk, including setting policies for bad debt reserves and monitoring accounts at risk.

Credit Policies: Create and enforce credit policies and procedures, ensuring compliance with regulatory standards and company practices.

Account Management:

Customer Relations: Maintain strong working relationships with both customers and internal stakeholders, acting as the point of contact for any credit-related inquiries.

Credit Monitoring: Continuously monitor customer accounts to ensure they remain within approved credit limits and payment terms.

Credit Reviews: Conduct periodic credit reviews of existing customers, evaluating their financial situation and adjusting limits or payment terms as necessary.

Reporting: Generate detailed reports on credit portfolio performance, including overdue accounts, collections, and credit utilization.

Collections & Payments:

Collections Management: Oversee the collections process for overdue accounts, ensuring timely follow-ups and resolution of outstanding balances.

Dispute Resolution: Work with customers and the operations team to resolve any disputes or discrepancies related to credit terms, transactions, or payments.

Payment Schedules: Develop and manage payment schedules for customers, ensuring compliance with agreed-upon terms.

Credit Recovery: Lead the efforts in recovering outstanding debts through effective negotiation and, when necessary, legal action.

Analytics and Reporting:

Financial Analysis: Analyze financial data from customers to identify trends, potential risks, and opportunities for improving the credit portfolio.

Reports: Prepare and present regular reports to senior management, highlighting key performance indicators (KPIs) such as credit utilization, overdue accounts, and write-offs.

Forecasting: Assist in forecasting potential bad debts and financial risks based on current credit trends.

Compliance & Legal:

Regulatory Compliance: Ensure that all credit activities comply with local, state, and national regulations, as well as industry standards.

Credit Documentation: Ensure proper documentation is maintained for all credit transactions, including customer agreements and credit applications.

Internal Audits: Support internal audits of the credit function and collaborate with other departments to ensure processes are compliant and efficient.

Required Qualifications:

Education: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. A professional certification (e.g., credit management certification) is a plus.

Experience:

4-5 years of experience in credit management or financial analysis, preferably in the fuel card, credit card, or financial services, petroleum industry.

Strong understanding of credit risk management, debt recovery processes, and financial reporting.

Experience working with credit management software and systems (e.g., SAP, Oracle, or industry-specific platforms).

Skills:

Excellent analytical and problem-solving skills.

Strong understanding of credit scoring, financial analysis, and risk assessment.

Proficient in Microsoft Excel and other financial modeling tools.

Strong verbal and written communication skills for interacting with customers, senior management, and legal teams.

High attention to detail with the ability to identify trends and irregularities in financial data.