Credit Specialist Job Description
Credit Specialist Duties & Responsibilities
To write an effective credit specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included credit specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Credit Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Credit Specialist
List any licenses or certifications required by the position: NACM, MGI, FCRA, MBA, SAS, CDCS, SQL, PROC, OJT, CDIA
Education for Credit Specialist
Typically a job would require a certain level of education.
Employers hiring for the credit specialist job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Accounting, Business, Education, Economics, Associates, Business/Administration, General Education, Technical, Management
Skills for Credit Specialist
Desired skills for credit specialist include:
Desired experience for credit specialist includes:
Credit Specialist Examples
Credit Specialist Job Description
- Prepare the credit write ups for credit decisions in the specified format
- Fostering of pro-active partnerships, negotiations & communication in relation to credit matters / new transactions with Relationship Managers, Collateral Valuation Office, Solutions Partners, Trading, Legal, Compliance and other CRM / Risk business units
- Carry out credit assessments, negotiations, approvals and working with relevant stakeholders for resolution of risk events
- Monitor market, regulatory, macro-economic and political developments
- Maintains timely communication with internal departments to ensure timely payment of delinquent invoices
- Be ready, willing and able to assist and support other staff should the need arise
- Deliver exceptional service to our high value customers by providing best-in-class service and solutions to grow customer relationships within set standards
- Directly interact with customers, review applications and documents, and assess credit-worthiness of customers
- Manage both inbound and outbound workflows while independently problem solving and making sound decisions in a fast-paced work environment
- Lead by example in adherence to Credit & Collections Dept
- Work in a team environment and meeting company and departmental goals
- Perform collections for 1,500-2,000 accounts with a portfolio of $12 million monthly
- Process credit applications and procure bank/trade references and credit reports
- Enter tax certificates and update customer records such as address changes
- Complete new vendor set up documents
- Establish credit limits
Credit Specialist Job Description
- Prepare and mail dunning notices and collection letters
- Generate routine reports and correspondence
- Able to work autonomously with minimal supervision and within a team and to foster a positive work environment
- Demonstrated time management skills and ability to handle multiple priorities and tasks with shifting time frames and meet deadlines
- Creates and maintains reports, databases and spreadsheets to generate various analyses related to the entire Revenue Operations organization
- Ability to complete large/complex projects
- Willing to wear funny hats and have fun at short notice
- Accumulates, analyzes and processes financial operating information from multiple business systems and sources that are accurate and relevant to management needs
- Provides support to internal customers through creation, training and maintenance of Access databases and Excel based tools
- Identifies, analyzes, and interprets data for payor trends and retraction patterns
- Provides files to Finance department for end-of-month reconciliation
- Designs and implements ad-hoc reporting projects in collaboration with business partners to develop specifications, logic, and testing of specified reports
- Provides report documentation and end-user education
- Accumulates, analyzes, and interprets 835 ERA provider adjustments and claims data
- Review transactions received for variances to General Ledger and billing system claims
- Reduces and problem solves overall transaction volume of Provider Adjustment general ledger
Credit Specialist Job Description
- Captures key findings from Payor 835 ERA files
- Facilitating timely credit reviews for new and existing accounts, reviewing financial statements and recommending appropriate limits, terms, , in compliance with established policies
- Through effective partnering with Sales and Relationship Management and Corporate & Institutional / Banking teams reactively identify & close new credit business (and retain existing credit business) in conjunction with PRMs
- Manage risk/reward by effectively pricing credit transactions to generate ROE and revenue of credit and banking portfolio to attain regional business & team goals
- Complete internal credit correspondence, including ETRs
- Ensure transaction and collateral security remain within approval guidelines
- Responsible for ongoing collateral evaluation
- Conduct collections of corporate and non-corporate accounts via outbound phone calls, aging reports, invoice packets, order review, intranet websites, various customer A/P portals, and email correspondence with AP contacts
- Respond to incoming calls and mail from aligned accounts and extensive interaction with both internal and external customers
- Utilize strong written and verbal communication skills to effectively communicate in a professional manner to maintain the business relationship while collecting on past due AR
- A four-year college degree is desired
- Prepare more complex manual documents, including muni documents, dairy documents
- Able to handle difficult or challenging credit / collection situations with diplomacy, tact and professionalism
- Must be highly customer service focused and a team player
- Minimum of intermediate skill level using Microsoft Excel (advanced formulas, Pivot tables, VLookups)
- Must be very detail oriented and accurate in work product
Credit Specialist Job Description
- Provide accurate information as needed by customers, sales, and credit
- Manages and oversees loan/deposit portfolios
- Recommend potential deposit, trade, treasury management, foreign exchange, private banking, asset management, and other services to our Relationship Managers (RM) prospects
- Work with credit analyst in reviewing existing credits
- Perform other administrative duties required for the maintenance of a portfolio of clients
- Assist in the development of junior bankers, credit analysts, and relationship associates
- Ensure the portfolio administration and risk management of each client relationship is in compliance with established EWB credit policy, procedure and business strategy commercial and regulatory guidelines
- Verify and accurately data enter various lease and loan applications in credit processing system
- Posting daily USD/CDN credit card payments
- Complete online Lockbox payments in order for the payments to post to the correct customer account
- Reviews status of delinquent accounts and initiates collection action
- The minimum education required is a high school diploma or equivalent
- Proficient understanding of principles in functions
- Ability to read and comprehend simple instructions, create correspondence and memos
- Strong communication skills due to contact with customers and employees at various locations
- Effectively present information one-on-one and in group situations with upper management
Credit Specialist Job Description
- Ensure payment processing batches balance at the end of posting
- Processing credit card refunds
- Complete requests from internal customers within 24 hours
- Processes and posts all prior days credit card transactions to individual customer accounts
- Processes and logs all credit card orders on a daily basis
- Communicates order status to customers and Sales associates
- Makes appropriate changes to customer maintenance in ISCI
- Maintains and ensures accuracy of all customer credit card information
- Identifies and processes credits (returns) and additional credit card changes for NL invoices/advertising
- Manage credit activities for assigned account portfolio
- Advanced computer skills in Microsoft Office, Electronic Billing System and Oracle Financial System preferred
- Ability to deal with confidential patient and payor information and/or issues, using discretion and judgment
- Ability to utilize a PC by being proficient with Windows-based software
- Preferably 1+ years of experience in the consumer lending or financial industry
- Experience underwriting loans and/or reviewing financial documents is a plus
- Fluent in either French or Arabic