Credit Manager in Toronto, ON

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 in Toronto, ON

86569 - 121510

Low

86569

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

Mid

102475

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

High

121510

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

89959

113166

125160

Payroll Administrator

61016

72489

80833

Assistant Credit Manager

64927

82136

95435

Collections/Credit Analyst

57104

67274

77964

Collections/Credit Clerk

53715

61798

68838

Bookkeeper

58930

74314

82397

AR/AP Manager

67795

90220

101693

AR/AP Clerk

49803

59190

66231

Accounting Clerk

49021

55018

60755

Billing Clerk

46935

52932

61537

Inventory Analyst

52932

66752

77964

Inventory Coordinator

44849

52411

63362

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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.