Credit Specialist Job Description, Key Duties and Responsibilities

Credit Specialist job description, duties, tasks, and responsibilities.
Credit Specialists help ensure effective cash management strategy for an organization.

Credit Specialist Job Description, Key Duties and Responsibilities

If you need to know what the credit specialist job description is, this post will give you the information. You will get to know the key duties, tasks, and responsibilities that commonly make up the credit specialist work description.

You will also get to know the major requirements to have if you are seeking to work as a credit specialist in most organizations, to qualify to access the position.

Please, read on:

What Does a Credit Specialist Do?

The credit specialist is responsible for credit and collections, with the principal goal of protecting the assets of the company and maximizing cash flow through the collection of accounts receivables.

They also aim at improving cash management and mitigating expenses from bad debt.

They work with financial institutions and other organizations that offer credit services.

The credit specialist job description entails providing support for the organization’s underwriting needs with a focus on processing, evaluating, and completing financial analysis on individual loan requests.

It also involves monitoring and maintaining the overall credit quality of the company’s loan facilities.

Credit specialists are also required to be in touch with customers regularly and communicate with them regarding the collection of past balances due and process extension of credit to customers where necessary.

They continually service customer accounts and keep A/R (Accounts Receivable current).

They also communicate with customers regarding billing issues and other general inquiries and relate customer interaction with the sales and marketing departments.

The credit specialist role also entails granting authorization for an extension of credit to new business relationships, as well as granting extended terms (during marketing specials) for existing customers.

They also perform reviews on customer accounts and processes pending orders within the policies of the credit department.

In a case where the credit specialist works with a trading company, their work description entails analyzing and resolving disputed items following the company’s policies and procedures.

They also provide proper documentation on conversations and actions taken on customer accounts.

They are also responsible for recommending and preparing offending accounts that require external collection proceedings.

To work as a credit specialist requires a Bachelor’s degree. This position requires a highly motivated and goal oriented person with excellent customer relationship experience.

Credit Specialist Job Description Example/Sample/Template

Credit specialists perform various functions, depending on the type of organizations they work for.

The typical credit specialist job description consists of the following tasks, duties and responsibilities, which are commonly assigned to them by most organizations:

  • Perform financial analysis on prospects/clients and undertake credit underwriting and approval process
  • Support the sales unit by identifying cross-selling opportunities
  • Prepare credit approval packages and renew existing credit accounts
  • Review client credit proposals and coordinate document preparation and closings
  • Coordinate credit and loan portfolio administration support through the monitoring of past dues, document exceptions, collateral value monitoring, and covenant compliance
  • Responsible for processing loan applications and ensuring that turnaround time requirements are met
  • Provide support to the billing support representatives
  • Help avert payment defaults by monitoring existing credit portfolio to ensure quality credit
  • Assist in improving loan processes and establishing best practices by identifying gaps for improvements in the company’s loan process
  • Strictly comply with applicable Federal and State laws, regulations, and guidance, including those related to anti-money laundering
  • Perform an investigation to verify the identity of customers before extending credit to them
  • Responsible for identifying and reporting suspicious activity to the appropriate unit.

Credit Specialist Requirements – Skills, Knowledge, and Abilities for Career Success

To be hired for the position of a credit specialist by most companies, you will be expected to meet certain requirements, to show that you have the right competence, qualities, qualifications, etc. to be effective in carrying out the work description that will be handed to you.

Shown below are major credit specialist requirements applicants for the role may be expected to fulfill to be employed for the position:

  • Education: Applicants for the credit specialist role are required to have a Bachelor’s degree in Accounting, Finance, or Business
  • Knowledge: It is crucial that they have experience with financial statement analysis and collections. They must also have experience in resolving A/R disputes, Account/Payment reconciliations, investigating deductions, and charge backs
  • They also must have a strong understanding of consumer credit and basic advisory credit knowledge. It is also essential that they can deal with lien and bond claims, along with other legal actions
  • Depending on the type of organization they work for (bank, credit union, retail organizations), they may be required to possess solid knowledge of traditional bank products and services, including deposits, credit cards, mortgages, etc. and familiarity with all private wealth management products and services
  • Experience: They may also be required to possess a minimum of 2 years experience in credit and collections to work as a credit specialist
  • Customer service skills: The job of a credit specialist requires a lot of customer interface; hence it is crucial that they possess strong client service skills to provide customer support
  • Computer skills: They must be proficient with Microsoft Office applications, especially MS Excel (pivot tables, v-lookups). It is also vital that they have a working knowledge of ERP systems
  • Attention to detail and organizational skills: They require the ability to multitask and effectively prioritize tasks, and also discharge their duties with a high degree of accuracy and consistency
  • Communication skills: They must possess exceptional communication skills for verbal communication with clients, as well as providing necessary documentation
  • Analytical skills: It is also vital that they can analyze credit data and financial statements. They must be able to arrive at valid conclusions even where presented with incomplete information
  • Sound judgment: They must also be able to apply critical thinking or sound judgment to decipher false information/claims
  • Interpersonal skills: They require the ability to positively interact with customers, establish and manage a long-term relationship with them.


If you are an employer, recruiter, or HR manager, you can create the perfect description for the credit specialist job for hiring the right people for the position.

You can easily and quickly apply the sample credit specialist work description provided above as a template in making the perfect description of the role for your organization.

This post is also useful to individuals interested in the credit specialist career to learn and improve their knowledge of what credit specialists do, so as to be able to make the right choice about their career.

Did you find this article useful in learning about the duties and responsibilities of a credit specialist? Please, make a comment in the box below. You may also share your job description if you work as a credit specialist.