Credit Specialist Job Description

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Credit Specialist Job Description

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We are recruiting for a Credit Specialist to create clients’ eligibility for financial assistance. As Credit Specialist you will gather all pertinent applications and supporting documentation, review clients’ financial histories, and then proceed to decide whether to extend financial support. You should also monitor clients’ repayments in a bid to prevent them from defaulting on their loans.

To succeed as a Credit Specialist, you should possess exceptional investigative skills that are backed by sound judgment. An outstanding Credit Specialist will inform clients about ways to improve their suitability for our programs.

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Credit Specialist Responsibilities

Demonstrable experience as a Credit Specialist.
Excellent knowledge of all applicable governing regulations and bodies.
Familiarity with sound business, borrowing, and spending practices.
Strong research, statistical, and decision-making skills.
Ability to negotiate credit limits and repayment options.
Capacity to let ineligible clients down in a dignified manner.
Willingness to institute pertinent corrective measures to procure monies owed.
Degree in Actuarial Science, Microeconomics, Accounting, Finance, or similar.

Credit Specialist Requirements

Receive credit and loan applications along with supplementary paperwork.
Review documents to ensure their completion and precision.
Conduct routine inspections to better understand clients’ financial track records.
Perform risk analyses and using findings to inform the amount of credit extended, if applicable.
Inform clients about the outcomes of their credit applications.
Negotiate interest rates and payment plans that account for the potential risks identified earlier.
Supervise the repayment of funds and contacting defaulters to tend to their accounts with urgency.
Provide additional financial support to eligible and steadfast clients upon request.
Compile a database of regular defaulters and reporting them to the relevant bodies, as appropriate.
Work towards maintaining and advancing the financial status of our institution.
Demonstrable experience as a Credit Specialist.
Excellent knowledge of all applicable governing regulations and bodies.
Familiarity with sound business, borrowing, and spending practices.
Strong research, statistical, and decision-making skills.
Ability to negotiate credit limits and repayment options.
Capacity to let ineligible clients down in a dignified manner.
Willingness to institute pertinent corrective measures to procure monies owed.
Degree in Actuarial Science, Microeconomics, Accounting, Finance, or similar.

Personalising Your Credit Specialist Job Description Advise

The hiring process and recruiting new employees to fill your key roles requires a degree of personalisation if you are to attract the best employees in a competitive employment market. The right person for a crucial role or more senior roles will likely have other employers targeting them. As your job description will be the first point of contact, you need to nail your pitch and provide the best possible service.

When creating your bespoke description and advert, you should cover and promote these points:

Job title: This should accurately reflect the role and include keywords that top talent might be using to search for jobs.

Job duties: The day to day duties, such as administrative tasks, which vary depending on the company and inform the candidate if they can complete the role.

Technical skills: These are the hard skills required through training, such as proficiency with Microsoft Office.

Soft skills: These include the interpersonal skills and general abilities the right candidates will possess. For example, the competency to prioritise multiple tasks, handle customer queries and customer complaints, work alone, or build a good relationship with coworkers.

The company’s culture: Highlighting your company culture and values ensures employees thrive and find outstanding job satisfaction. Candidates that are not the right fit won’t waste their time completing the application process, meaning you can focus on qualified individuals and hire in a more timely manner.

Career progression: Including the career path will entice candidates looking for career growth.

Training and development programs: Smaller companies may need employees with previous experience or provide educational assistance over internal training offered by larger organisations with more significant resources.

Employee benefits: Compensation and benefits often fail to appear in job ads and while you may want to hold your cards close to your chest, failing to include them is a mistake. Consider answering common questions, such as working hours and paid leave. Researching the average salary for the role in these early stages will ensure you don’t waste your interviewer’s and the candidate’s time.

Skill gaps: Your company may need to bring in new skills beyond those required to complete the key role and duties. Thinking on an organisational level can be beneficial when contemplating skills diversity.

Legal requirements: Ensure your job advert and description does not ask for inappropriate or discriminatory personal details, such as age, marital status, or religion.

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