FUNCTIONS OF A CREDIT OFFICER

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Permalink Reply by Dipu James on May 14, 2009 at 1:37pm

Responsible for managing the portfolio in terms of keeping low delinquencies & NCL. Credit Officer work is the Managing delinquent accounts Managing losses Keeping front end delinquency at the lowest level. Regular feedback to Sales/Credit Using all MIS generated to manage collections Manage Cash Collections Catch early warning indicators Manage remedial management re-schedulements Manage repossession agencies Low front end delinquency

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Permalink Reply by Resonance consultancy on May 15, 2009 at 10:59pm

Hi

Its depends on which product your are going for. For instance for retail banking lending such as PL/Credit card job requires credit assessment of borrower, KYC, liaising with sales and following credit policy of the lender

visit www.resonanceconsultancy.co.in

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Permalink Reply by Andrew on January 20, 2010 at 7:04pm

In addition to what has already been said a Credit Officer would have involvement in the other important responsibilities of the credit function which while controlled by the Credit Manager include :
Designing and manageing the credit product portfolio.
Controlling profitability.
Investigateing the competitions credit offering and market segments targeted to seek competitive advantage.
Managing customer relationship with exisitng customers / leveraging new customers from these relationships.
Producing customer prospecting reports and ensuring they are acted upon.
Managing / making sales decision on hot sales leads produced by on road introducers.
Working with marketing to ensure products / offerings are projected in a way which best meets the corporate business targets.

These are of course generic responsibilites of a credit function and will vary between businesses.

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Permalink Reply by Peter Parker on May 11, 2010 at 3:03am

Here are some JDs of credit control officers.

- Approves sales invoice for accuracy and in conformity to credit policy.
- Investigating and collection outstanding Dues
- To deal with enquires from clients made in person, by telephone or by letter in a prompt and courteous way.
- To process credit claims and the related input onto customers accounts
- Generates standard letters for disputed cost and bring problem accounts to the attention of the Credit Control supervisor.
- Contacting debtors in writing and by telephone to enable prompt company’s outstanding debt, supervising the credit controller and managing the company’s direct debit process.

Along with these they perform other duties assigned by Managers. I hope these short JDs resolve your problem.


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Permalink Reply by Kofi Adusei Koduah-Sarpong on May 11, 2010 at 6:16am

I think Patience is coming from a banking perspective and is therefore referring to the role of credit analyst. As stated above, each of them right in their own respects, the role of the credit officer is really that of understanding each prospective client's business, the drivers, the seasonalities, and all the things that are peculiar to the client and its environment/industry.

Typical analyst functions include:
Credit assessment
Limited Due Diligence
Site Visits
Maintaining Client Relationships (In more advanced scenarios, the credit analyst assesses the impact of events on clients and seeks to create opportunities through their understanding of the client/industry)
Keeping a close information network with other analysts in different banks/industries.
Devising structures that minimize/manage default and delinquency.

I hope this helps.

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Permalink Reply by Werner Reisacher on May 12, 2010 at 1:11pm

Right to the point Kofi. I always enjoy your valuable contributions. Thanks.
Werner Reisacher

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Permalink Reply by Vitun Sharma on July 2, 2010 at 2:08am

Hello
Following are the function of Credit officer

Be fully responsible for developing objectives, targets, and strategy for the credit
department and achieve the targets both in terms of quality and quantity, and
effectively manage the resources under one’s jurisdiction. Effectively build and
use the network of customers to continually expand the business volume and
maintain the quality of credit portfolio. Also contribute to the holistic
development of the bank by working in conjunction with the other functional
heads and managers. Practice the values and adhere to the guiding principles
and be a role model to other people working.

Hope this will help
For Further assistance you can visit the link below

thanks
Business Analysis

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Permalink Reply by prettykate on July 6, 2010 at 9:07am

these are the FUNCTIONS OF A CREDIT OFFICER

Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.

Prepare reports that include the degree of risk involved in extending credit or lending money.

Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and purchase activity.

Confer with credit association and other business representatives to exchange credit information.

Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.

Generate financial ratios, using computer programs, to evaluate customers' financial status.

Review individual or commercial customer files to identify and select delinquent accounts for collection.

Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.

Consult with customers to resolve complaints and verify financial and credit transactions.

Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.

financial benchmarking

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Permalink Reply by TL on August 11, 2010 at 8:43pm

Let's use the convenient O*Net tool to answer your question. For Credit Officer, it may mean Credit Analyst, Loan Officer , or Credit Authorizer

Have a look and see which one fits you concept.

consultant, Vast Talent

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Permalink Reply by parul singh on August 30, 2010 at 3:07am

these are some of the Job Role of a credit officers:-

§ Credit Appraisal of Credit Card applications within defined guidelines.

§ Evaluation of applications of customers for credit cards, use performance history along with liquidity, debt/asset management, and profitability ratios to assess credit worthiness in evaluation.

§ Interact with Customers & understand the business and regularly monitor delinquencies / infants.

§ Should be able to establish rapport quickly with peers, managers & customers.

§ Decision making within defined TAT, understanding market realities with respect to industry and unsecured credit.

§ Coordinating with sales, verification agency, and operations.

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