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Credit controllers perform financial, administrative and other tasks in relation to credit control and debt collection.

Main tasks

  • Arranges for the collection of arrears of payment.
  • Checks that accounting, recording and statutory procedures are adhered to for all credit transactions.
  • Deals with any enquiries or difficulties concerning the acceptance or rejection of credit applications.
  • Arranges for investigations of the credit worthiness of individuals or companies.
  • Receives requests for credit submissions and lending proposals.

Source: Office for National Statistics.

Salary and earnings

Potential earnings

£38,757.83

Average earnings

£24,738.99

Source: Office for National Statistics' Annual Survey of Hours and Earnings (ASHE).

Skills & knowledge

The top 5 most important skills and knowledge requirements relevant to this career.

Reading Comprehension

Understanding written sentences and paragraphs in work related documents.

Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking

Talking to others to convey information effectively.

Monitoring

Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Customer and Personal Service

Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Administration and Management

Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modelling, leadership technique, production methods, and coordination of people and resources.

Economics and Accounting

Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Mathematics

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Clerical

Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

What course level do I need to study?

The level of study required will vary with each job, sector and company. The table below shows the level of study achieved by those currently working in this career choice.

Educational requirements: Level 2 NVQ; GCSE at grades A*-C

Source: Office for National Statistics.

Level of study Percentage achieved
Level 0 2%
Level 1 5%
Level 2 37%
Level 3 19%
Level 4-5 (Higher Education) 8%
Level 6 (Bachelors) 20%
Level 7 (Masters or equivalent) 9%

Source: Labour Force Survey (LFS) data.

Economic data for careers is provided by Lightcast and also available through our Career Coach app. Job postings, employment and earnings information is represented at the regional level for the East Midlands.