Overview

Many organisations extend credit to their customers and clients.

Extending credit is a vital part of a market economy. As is eventually collecting the monies owed.

Credit control managers are responsible for ensuring that their organisation collects the monies that it is owed in a timely fashion, in line with the terms and conditions of the sale.

Ensuring receipt of payment from debtors is important in ensuring organisations have control of their working capital and cashflow.

Credit control managers fulfil a vital function.

Entry and progression

Fulfilling a key role within organisations, credit controllers are found in:

  • corporates
  • public sector
  • financial services
  • shared service organisations. 

These sectors provide many entry points for those who wish to become a credit controller.

ACCA develops the skills and knowledge required by forward thinking professional accountants, including credit controllers.

Junior and assistant roles are available in credit management with progression opportunities available to more senior roles such as credit control manager.

Exam options

For those who work as credit controllers, or aspire to be a credit controller, the most relevant exam options are:

Performance objectives

Remember it’s not just about exams. You need to have the right experience so that you are competent – you have the experience and knowledge – to start and continue your career as a credit controller.

Competencies

High level competencies required by credit controllers include:

  • Governance, Risk and Control

    A. Evaluates organisational structures and governance to protect the long-term interests of stakeholders.

    B. Recommends appropriate strategies to ensure adherence to governance structures and application of best practice internal controls.

    C. Identifies and manages risk appropriately.

    D. Uses risk management for the best interests of an organisation and its stakeholders.

    E. Monitors and applies relevant legislation, policies and procedures.
     

  • Leadership and Management

    A. Applies appropriate leadership strategies to effectively deliver business objectives.

    B. Leads, motivates and manages people to optimise performance and effectiveness.

    C. Collaborates, supports and works to achieve the objectives of the organisation, harnessing appropriate digital technologies.

    D. Acts proactively and thinks strategically, in anticipating organisational needs, recognising the wider business environment and dynamics.
     

  • Stakeholder Relationship Management

    A. Positively develops relationships with internal and external stakeholders.

    B. Communicates and gains commitment from internal and external stakeholders.

    C. Uses emerging technologies to collaborate and communicate effectively with stakeholders.

    D. Applies professional and ethical judgement when engaging with stakeholders.

    E. Aligns organisational strategic objectives with stakeholder needs and manages expectations.
     

  • Ethics and Professionalism

    A. Develops advanced ethical values and professional skills in the promotion of public interest and the profession.

    B. Demonstrates personal effectiveness in fast changing environments.

    C. Encourages innovative thinking within the context of professional scepticism.

    D. Thinks proactively about the future, applying professional judgement and commercial intelligence and seeks specialist input when needed.

    E. Communicates effectively and influences others.