INDUSTRY STATS
According to the U.S. Bureau of Labor Statistics, Credit Manager positions are at a 17% growth rate, which is much faster than average. With that said, there are currently 681,700 jobs in the market right now. The total number of jobs is expected to increase by 118,200 to 799,900 in the period of 2020-30.
What’s more, the median annual wage for the Credit Manager jobs was $134,180 in May 2020. The lowest 10% earned less than $70,830, and the highest 10% more than $208,000.
Our conclusion? The Credit Manager job market is wide open for candidates.
Top Credit Manager sections that make the best resume
- Header
- Professional summary
- Experience (with numbers and results)
- Relevant skills
- Education
- Certifications
How to craft the perfect Credit Manager resume experience section
Perfecting the Experience Section: Credit Manager Resume Checklist:
- Be careful with bullet points: use no more than 4-6 per position;
- Mention only positions that are relevant to the job you’re applying for;
- List your experience in chronological or reverse-chronological order;
- Highlight your results by using numbers – e.g. percentage increase/decrease in an important metric that’s followed by - your hard work;
- Use action words whenever possible… but more on that below.
Need examples? We looked through thousands of Credit Manager resumes and gathered some examples of what the ideal experience section looks like. Check them out below!
- Job roles involve Underwriting of HL & LAP cases, Personal discussion with the customers, Analyze the Financial statement and key financial ratios and looking for the disbursement of the Housing & Mortgage loans.
- Assessing the credit worthiness of customers by comparing the financial scale of the borrower with the level of business activity & setup observed during the PD.
- Detailed banking analysis in conjunction with the current year financialnumbers.
- Measuring financial & operational performances of clients using financial tools like ratios, trend analysis, sales forecasting, budgeting etc.
- Effective Management and communication with Vendors for Legal,Technical and other vital reports critical to the heath of a given loan funding, thereby, understanding the major legal & technical challenges & critical documents related to properties.
- 300% INCREASE IN CREDIT PORTFOLIO IN 1.5 YRS
- NPA REDUCED BY 30%
- ENSURED ENOUGH CERDIT SUPPLY AND LIQUIDITY TO REGIONAL MSMEs DURING COVID.
- SUCCESSFULLY IMPLEMENTED GOVERNMENT INITIATIVES LIKE ATMANIRBHAR BHARAT,PMEGP,CMEGP ETC.
- Handling PL application of DSA cases and Open market cases
- Credit Decision Making for Personal Loans and forwarding Proposals to RCM’s and ZCM
- Having skill in team handling / managing the load
- Working in TAT basis, No error base & productivity base
- If Required going for Personal discussion at customer office place
- Customer Documentation - Ensure pre approval documentation is accurate.
- Pull out CIBIL loans Clarification and OD clearance
- Maintaining FCD (First credit decision ) TAT
- Assessing the credit worthiness of customers through documentation checks and Personal Discussion.
- Experience Summary Overall 11 year’s experience, Credit and Operations in Banking retail assets products Like Pl, BL, LAP, CD loan, Auto Loan, Used car loans Experienced in PL, BL, LAG, and Loan against property (Mortgages) & Car Loans. 1.Analytical Thinking - Breaking complex task in a systematic way, identifying trends and relationship in data, evaluating the same 2.Team effectiveness – Sharing Knowledge/information relevant to others, standing in for a team member 3.Process orientation - Doing things in a structured manner, making specific changes in system/process/work methods to improve performance, managing information in a structured and systematic manner
- Credit Underwriter with experience for Used Car Loan (Both retail & business firm).
- Accountable for appraising loan proposals by detailed financial & non-financial analysis of proposal & applicant’s credit history through CIBIL.
- Making decisions accordingly in cases by checking applicant’s loan eligibility & preparing CAM. Conducting tele PD duringappraisal process.
- Managing different vendors & stakeholders and team of off-role employees.
- Providing training at different time intervals to peer members including sales officers, and new joinees.
- Handling credit portfolio of Rs.200crore for Hyderabad region with 8 branches.
- Incharge of complete process throughout Login – CAM – FOIR – Sanction – Disbursement – Dispatch – PDD follow ups within pre-defined TAT in accordance and adherence to policy norms and audit compliance.
- With holding approving power of Rs.4 Lac limit cap for KCC loans and 3 Lac limit cap for Farm equipment accordingly.
- Performed a minimum of 20-25 PDs per month [>60% of logins]
- Used APS software for upto 35Lac cases and ThunderbirdMail for 35lac to 2 crore High value-structured cases to perform credit appraisals, document verification and loan approvals.
- Provided training to >30 Field officers and consulted with struggling teams to help meet monthly target goals.
- Collected data and performed trend and variance analysis to mitigate risk arising from bad debt.
- Optimized credit approval and collection processes, improving operational efficiencies by over 30%.
- Worked cross-functionally with sales, Branch management and other departments to maintain effective Sales and operations.
- Special observations reconciled on Nonstarter and High value customers by regular coordination with DSMG Team
- Credit underwriting and applying risk matrix for Agri andSLI cases, timely delivery of decisioning in TAT.
- Handled cluster with more than 50 branches of UP eastand Central UP with portfolio size of Approx 1150 Cr.
- Handled 3 different channels appointed by the bank asits business units.
- Quarterly & Half yearly review with the RCH, RCM alongwith the ACMs on the portfolio behaviour and TAT.
- Evaluation and granting of Home loans, Mortgages and Personal loans.
- Establishing credit worthiness of applicants and underwriting of loans.
- Reviewing Profiles, Income statements and conducting PD to ascertain feasibility.
- Ensuring Audit and Regulatory compliance.
- Checking and analysing delinquent accounts and their subsequent recommendations based on the analysis.
- Improving and maintaining of turnaround time and conversions.
- Providing training to Sales, partners and Channels on the policies and offerings of the organization.
- Generating additional revenue through Cross-selling of product and services.
- Networking in the industry to seek reference checks for clients as well as understanding the Industry andEconomy dynamics.
- CREDIT PORTFOLIO INCREASED BY 300%
- NPA REDUCED BY 30%
- TRAVELLED EXTENSIVELY AND ENSURED CREDIT SUPPLY DURING COVID LOCKDOWN TO MAINTAIN OPTIMUM FINANCIAL LIQUIDITY.
- TRAINED IN CORPORATE FINANCE AND CREDIT RISK MANAGEMENT.
- Gestion portefeuille client local et export de sorte à ce que l'activité commerciale se transforme rapidement en trésorerie ;
- Suivi de la facturation rapproché à l'encours client pour s'assurer que la performance commerciale ne se fait pas au détriment de la sécurité financière ;
- Recours au source d'information fiable ( Requête Coface, dun & bradstreet, Inforisk ) pour garantir un encadrement de la prise de risque (garantie bancaire, assurance crédit, contrats) ;
- Intervenir dans la négociation commerciale, déterminer le montant de l'encours acceptable, définir les meilleurs moyens de paiement, intégrer des clauses spécifiques dans le contrat de vente agissant comme organe de conseil ;
- Suivi rigoureux des encaissements en préconisant la prévention en terme de collecte via des prévisions mensuelle pour garantir un flux de trésorerie stable et anticipée ;
- Mise en place de reporting quotidien orienté vers l'aide à la decision et destiné au Top management ;
- Contrôle du cycle de la collection permettant à la fois la baisse du DSO et des overdues.
- Play a proactive role in the management and collection of receivables
- Assessment of new credit applications and review of customer credit ratings with banks, agencies investigation and insurance organization
- Establishment of credit conditions to set a balance between maximize turnover and minimize the risk
- Maintain & reviesthe corporate credit policy
- Development and monitoring of activity through forecasting tools(dashboards, statistics, indicators)
- Raise awareness among all financial, commercial andoperational on DSO and overdues oriented approach.
- Jouer un rôle proactif dans la gestion et le recouvrement des créances des débiteurs de l'entreprise ;
- Évaluation des nouvelles demandes de crédit et examen des classements de crédit des clients auprès des banques, agences d'investigation et organismes d'assurance ;
- Mise en place des conditions de crédit visant à maximiser le CA et minimiser le risque ;
- Mise en place des conditions de crédit accompagné d'un suivi des encaissement visant déterminer les besoins en financement ou les disponibilités financières de la structure et mettre en place les actions adaptées ;
- Veiller à la mise en place des procédure d'audit interne groupe conformément au Guideline ;
- Contrôler le suivi des procédures de contentieux jusqu'à la clôture du dossier ;
- Développement et monitoring des outils de prévision de l'activité (tableaux de bord, statistiques, indicateurs) ;
- Minimiser les provisions et les pertes sur créances, tout en permettant le développement du chiffre d'affaires ;
- Sensibiliser l'ensemble des équipes financières, commerciales et opérationnels sur une approche orientée cash, DSO et overdues.
- Jouer un rôle proactif dans la gestion et le recouvrement des créances des débiteurs de l'entreprise ;
- Évaluation des nouvelles demandes de crédit et examen desclassements de crédit des clients auprès des banques, agencesd'investigation et organismes d'assurance ;
- Mise en place des conditions de crédit visant à maximiser le CA etminimiser le risque ;
- Mise en place des conditions de crédit accompagné d'un suivi desencaissement visant déterminer les besoins en financement ou lesdisponibilités financières de la structure et mettre en place les actionsadaptées ;
- Veiller à la mise en place des procédure d'audit interne groupeconformément au Guideline ;
- Contrôler le suivi des procédures de contentieux jusqu'à la clôture dudossier ;
- Développement et monitoring des outils de prévision de l'activité(tableaux de bord, statistiques, indicateurs) ;
- Minimiser les provisions et les pertes sur créances, tout en permettant le développement du chiffre d'affaire ;
- Sensibiliser l'ensemble des équipes financières, commerciales etopérationnels sur une approche orientée cash, DSO et overdues.
- Reviewing and evaluating CR packages submitted by CIB.
- Generating executive summary reports for complex transactions.
- Assessing and evaluating financial data and proposed facilities' structures.
- Preparing and producing presentations in relation to proposed facilities for Joint Credit Committee (JCC) within the set out deadlines.
- Communicating JCC’s decisions to subject hubs, subsidiaries, and branches.
- Managed credit risk for our global dairy customers located in Asia, Mexico and U.S. with different instruments such as letters of credit, CAD, credit insurance and regular open terms
- Prepared and approved credit lines analyzing each customer's financial statements and business plans
- Developed and coached a credit analyst to exceed goals for our agricultural portfolio, Winfield de Mexico
- Selected by Sr. Management to support acquisitions and cross-functional projects
- Managed credit risk for U.S. and global dairy customers, becoming SME on letters of credit, CAD, credit insurance and regular open terms
- Prepared and approved credit lines through the analysis of financial statements and business plans
- Mentored a credit analyst that exceeded the goals for our agricultural portfolio
- Selected by Sr. Management to support advanced acquisitions and cross-functional projects
- I am co-responsible for the Export Credit Management in BEL
- I secured BEL export activities in Middle-East (export market) by developping credit guarantees in Iraq and Libye
- I maintained the overdues rate under 7% during 21 months on the Midde-East / Africa Zone
PRO TIP
Show off real numbers that display your accomplishments in past roles. Instead of listing out your responsibilities as Credit Manager, talk about the measurable impact you made to their business. Did you boost their revenue? Increase customer retention? Mention your proudest points on your resume.
Action Verbs for your Credit Manager Resume
Recommended reads:
Impressing Recruiters with a Top Credit Manager Resume Skills Section
Checklist for an impressive Credit Manager resume skills section:
- List both hard and technical skills that are important for the role;
- Check what the job description says and add some keywords based on that;
- Focus only on relevant skills;
- Try not to list things such as “communication”; rather, highlight your soft skills in other sections of your Credit Manager resume.
Top Skills for your Credit Manager resume
Microsoft Office
SAP
Excel
Salesforce
Data Entry
Quickbooks
Project Management
Customer Service
CRM
Communication
Negotiation
Critical thinking
Problem solving
Collaboration
Flexibitly
Resilience
Dedication
Empathy
PRO TIP
Don’t feel obliged to spend a separate section for your soft skills - you can weave them throughout your job experience or career summary. But, don’t just write empty words - back them with examples.
Recommended reads:
Credit Manager Resume Header: Tips, Red Flags, and Best Practices
CHECKLIST For Your Credit Manager Resume Header
- Your name and surname in a legible and larger resume font
- The job title you’re applying for or your current job title as a subheading to your name
- Link to your portfolio or online profile, such as LinkedIn
- Address (City and State for the US; just your city for rest of the world)
- Email address
- Headshot (required or welcomed in the EU; not required and sometimes frowned upon in the US)
Stick to popular email providers such as Gmail or Outlook. And use these professional formats to create your username:
- first.last@gmail.com
- last.first@gmail.com
- firstlast@gmail.com
- f.last@gmail.com
- first.l@gmail.com
Recommended reads:
PRO TIP
Some companies, states, and countries have non-discrimination policies about what kind of information can be included on your Credit Manager resume. This might include a photo (which is often included in a resume header and might be on personal web pages you link to). You can always email the company’s HR department to ask about their policies before you apply.
Crafting a Strong Summary for Your Credit Manager Resume
Checklist: the perfect Credit Manager resume summary section
- Add a couple of keywords from the job description;
- Mention some of your most valuable skills and characteristics;
- Highlight your top achievements (and add numbers!);
- Use no more than 3-5 sentences to guarantee readability and keep - the hiring manager interested.
Resume Summary Formula:
PRO TIP
You’re not going to get hired simply because of a good summary or objective. However, your recruiter can bump you up in front of similarly experienced candidates who didn’t demonstrate such passion and drive.
Recommended reads:
An Impressive Education Section: Credit Manager Resume
Credit Manager Resume: Education Section Checklist
- Highlight your highest education degree;
- Include the degree subject, year of graduation, and institution name;
- Mention some of the awards you’ve received during your studies;
- List your certifications (incl. the body that’s issued them);
- Entry-level positions: Give preference to courses that are relevant to the position.
Top Certifications for your Credit Manager resume
Learn Banking Credit Analysis through Case Studies
Course for Bankers, Consultants & Managers to Understand Practical Aspects Credit Analysis Process from Indian Context.
Banking Credit Analysis Process (for Bankers)
Course for Bankers, Consultants and managers to Understand Credit Analysis Process from Indian Context.
Commercial Credit Analysis
This course provides you with the tools needed to undertake effective, conclusion-based, commercial credit analysis.
Credit Risk Modeling in Python 2022
A complete data science case study: preprocessing, modeling, model validation and maintenance in Python
Relationship Management in Corporate Banking
How to acquire and manage successful Corporate Client Relationships in Corporate Banking
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PRO TIP
If you hold a certain major and a minor, your majors should be mentioned first.
The Right Format for Your Credit Manager Resume
When it comes to formatting your Credit Manager resume, there are certain things you need to keep in mind. These include your level of expertise, your total years of experience, and the position and company you’re applying for, to name a few.
You can choose between three basic resume formats:
- Reverse-chronological resume format;
- Functional skills-based resume format;
- Combination (or Hybrid) resume format.
The reverse-chronological format is just that – all your experience listed in a reverse-chronological way. It’s great for experienced professionals who have been in the industry for many years and have no career gaps.
The functional skills-based resume, on the other hand, focuses on skills, education, and personality traits, rather than experience. This makes it great for graduates, people with less experience, or bigger career gaps. The idea is to show you’re the perfect match without putting too much emphasis on your lack of relevant experience.
If none of these sound suitable, go for a hybrid (or combination) resume. It’s a mix of experience, skills, and personality traits. It’s also considered modern and innovative because of its non-traditional structure and sections. Here, you can add details about what your typical day looks like or what your life philosophy is. In short, the hybrid resume format shows who you are, both as a professional and as an individual.
More tips on perfecting your resume style and layout:
- Choose a traditional 12p font;
- Make sure your resume margins are no bigger than an inch;
- Go for a one-page template. If you have broad experience and can’t fit your resume on one page, choose a two-page resume template
- Save your resume as PDF to avoid formatting issues and unauthorized editing.
Read this: Ways to make your Credit Manager resume stand out
Recommended reads:
PRO TIP
Test your draft Credit Manager resume by sending it out to peers and mentors in your circles. Ask them to review it as if they are hiring you for a project and implement the feedback afterwards.
More sections worth adding to your Credit Manager resume
If the industry, company, and position you’re applying for allow for that, you could include other sections in your Credit Manager resume. By doing this, you’ll show the recruiter that you’re a real human and not a robot.
Here are some ideas:
The Right Kind of Creativity for your Credit Manager Resume
Several years ago, everyone preferred keeping a safe distance from creative resumes. Today, adding creativity to your CV is considered cool, innovative, and one of the best ways to stand out.
You can add a creative section that describes your typical day or even go for a colorful creative template. No matter what you choose, make sure to keep the position, company, and industry in mind. Otherwise, you risk looking silly.
What Makes a Great Credit Manager Resume: Key Takeaways
- Choose a resume layout that sends the right message across and fits your current career situation;
- Create a resume header that shows your desired job title, and easy to find contact numbers;
- Be specific about your experience, accomplishments and future goals in your summary;
- Feature detailed metrics and specific examples that show the impact you made in your previous roles when describing your experience;
- List soft skills backed by examples;
- Add all of your technical skills and certifications that you have and match the job description;
- Show off a dash of personality in your resume that will demonstrate your culture fit and the right mix of hard and soft skills.
