Credit Manager

Credit Manager Job Description

Credit Managers in Canada manage credit risks and ensure the timely collection of payments from customers. This role is responsible for developing and implementing credit policies, analyzing customer creditworthiness, and overseeing the entire credit and collections process. The Credit Manager balances risk mitigation with supporting sales growth, ensuring sound financial decisions. A Bachelor's Degree in Finance, Accounting, Business Administration, or a related field is essential, with relevant certifications (e.g., CCP - Certified Credit Professional) often preferred. A deep understanding of Canadian credit laws, bankruptcy regulations, and industry-specific credit practices is paramount.

Typical credit manager duties:

Develop, implement, and enforce credit policies and procedures to manage risk effectively.

Conduct comprehensive credit assessments of new and existing customers.

Oversee the collections team and manage strategies for timely recovery of accounts receivable.

Monitor accounts receivable aging and bad debt reserves, providing regular reports to management.

Negotiate payment terms, manage credit limits, and resolve complex collection issues.

Collaborate with sales, finance, and legal teams to support customer relationships and resolve disputes.

Ensure compliance with all internal policies and Canadian credit and privacy regulations.

Implement and manage credit management software and tools to enhance efficiency.

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Salary for Credit Manager

83000 - 116500

Low

83000

The candidate is new to the role or has limited experience and is building necessary skills.

Mid

98250

The candidate has moderate experience in the role, meets most requirements or has equivalent transferrable skills, and may also have relevant certifications.

High

116500

The candidate has extensive experience and advanced skills for the role, and may also have specialized certifications.

Projected salaries for related positions

Job title

Low

Mid

High

Payroll Manager

86250

108500

120000

Payroll Administrator

58500

69500

77500

Assistant Credit Manager

62250

78750

91500

Collections/Credit Analyst

54750

64500

74750

Collections/Credit Clerk

51500

59250

66000

Bookkeeper

56500

71250

79000

AR/AP Manager

65000

86500

97500

AR/AP Clerk

47750

56750

63500

Accounting Clerk

47000

52750

58250

Billing Clerk

45000

50750

59000

Inventory Analyst

50750

64000

74750

Inventory Coordinator

43000

50250

60750

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Our starting salary projections come from a rigorous, multistep process so that our numbers accurately reflect the marketplace. They are based on actual compensation for professionals Robert Half has matched with employers across the country and third-party job posting data from Textkernel that we use to independently validate the salary levels.

Starting compensation—pay for someone new to a role—can vary significantly based on a candidate’s skills, experience and certifications, as well as other factors including industry, company size and revenue, and demand for the role. To reflect this variability, we report our salary data in three levels: low, mid and high.