Credit Manager Cover Letter
One of the main duties of Credit Managers is to oversee the credit process between the lending institution and the customers. They play a significant role in deciding whether to extend credit to consumers or businesses. In addition, they are responsible for the ongoing monitoring of credit accounts — including those that have missing payments or are in default status. In some situations, Credit Managers responsible for the overall management of the credit department staff and improving the operational goals of the department.
The following skills and qualifications are often found in example cover letters for Credit Managers:
- Preparing monthly status reports for management review
- Auditing and approving all credit requests that exceed the authorized amount
- Handling escalated collection issues that junior staff members aren’t able to resolve
- Managing the application and waiving of late fees to customer accounts
- Measuring team member performance in relation to department goals and objectives
- Facilitate ongoing training of staff in order to keep them informed in the area of credit and collections
- Monitoring the credit-granting and credit-updating process and recommending changes as needed
Below is an example of a cover letter that details relevant abilities and work experience for a Credit Manager.
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Dear Ms. Worthington:
I am submitting my resume for the position of Credit Manager. I have worked in the credit and collections field for banks, credit unions and short-term loan companies, which has given me valuable experience in relating to customers and negotiating for positive outcomes — experience that aligns well with the qualifications you are seeking.
As a Credit Manager for the past 12 years, I have become adept in evaluating credit risks and reducing bad debts within a short period of time. My Master’s degree in Business Administration, my substantial experience as a Credit Manager and my well-rounded skill set in this field would serve as assets to Brickwell Bank.
Below are some highlights of my related experience and qualifications:
- Overhauled credit collection policies to improve collection rates
- Effectively maintained a less than 1-percent default rate on approved loans for the last five years
- Analyzed the performance of 300+ client loans and products over the course of 12 years
- Trained, motivated, supervised and retained up to seven credit vetting staff members
- Served as the point of contact for all credit reporting and fraud agencies
- Prepared and sent all collections letters within three days of a missed payment and followed up by phone within one week
- Successfully supervised collection functions at a satellite branch for a period of six months while the regular credit manager was hospitalized
- Compiled required court-related statistics within an Excel spreadsheet on a quarterly basis
As I would welcome the opportunity to discuss this position in more detail with you at your earliest convenience. I look forward to hearing from you soon.
Thank you for your consideration.
Jared K. Evantz