Credit manager apprenticeships - where to start
You can get into this job through
a university course
a college course
an apprenticeship
working towards this role
applying directly
University
You could do a foundation degree or degree in business, finance or accounting.
You'll usually need at least 1 A-Level, or equivalent, for a foundation degree. You'll need 2 to 3 A-Levels, or equivalent, for a degree.
College
You could take a college course, like a Level 3 Diploma in Personal and Business Finance. You could then apply for jobs with a credit control company.
Courses in accounts or finance are also suitable.
You'll usually need 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, for a Level 3 course.
Apprenticeship
You could complete a credit controller Level 3 (advanced) apprenticeship, then apply for a management trainee post.
You'll usually need 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths, for a Level 3 apprenticeship.
Work
You could start as a credit controller with a company and take training on the job to move into a management role.
Training could include qualifications like the Level 3 Diploma in Credit Management offered by the Chartered Institute of Credit Management (CICM).
The CICM also has qualifications in areas like debt collection, enforcement action and senior management.
Direct Application
There are no set requirements to apply directly for jobs, but most credit managers have experience and qualifications as credit controllers, sales administrators or debt collection agents.
You could also move into this work from other financial areas like accountancy and banking.
Credit manager apprenticeships - what it takes
Skills and knowledge
You'll need:
- to be thorough and pay attention to detail
- ambition and a desire to succeed
- persistence and determination
- leadership skills
- maths knowledge
- to be flexible and open to change
- business management skills
- excellent verbal communication skills
- to be able to use a computer and the main software packages competently
Credit manager apprenticeships - what you'll do
Day-to-day tasks
Your day-to-day tasks may include:
- checking customer credit ratings with banks and credit reference agencies
- deciding whether to offer credit
- setting up terms of credit and making sure the customer pays on time
- managing a team of credit controllers or accounting technicians
- negotiating repayment plans
- stopping supplies of goods to late-paying business customers
- starting legal action to recover debts if necessary
- liaising with other creditors, arranging for goods to be recovered by bailiffs or dealing with liquidators if a company's assets are to be sold off
Working environment
You could work at a client's home, in an office or at a client's business.
Career path and progression - Credit manager apprenticeships
With experience, you could progress into senior management or move to a larger company.
Alternatively, you could move into insolvency work with an accountancy firm or become a self-employed consultant, advising businesses on credit systems.