What does a credit administrator do?
A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.
Credit administrator responsibilities
Here are examples of responsibilities from real credit administrator resumes:
- Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
- Utilize computer software including QuickBooks to maintain account activity and ensure accuracy; reconcile inaccuracies between invoices and accounts receivable payments.
- Utilize computer software including QuickBooks to maintain account activity and ensure accuracy; reconcile inaccuracies between invoices and accounts receivable payments.
Credit administrator skills and personality traits
We calculated that 6% of Credit Administrators are proficient in Financial Statements, Credit Card Payments, and Real Estate. They’re also known for soft skills such as Listening skills, Negotiating skills, and Speaking skills.
We break down the percentage of Credit Administrators that have these skills listed on their resume here:
- Financial Statements, 6%
Reviewed the financial statements of title insurance companies seeking authorization to issue endorsements on behalf of the organization.
- Credit Card Payments, 6%
Executed customer transactions, ACH payments, credit card payments, along with driver check in payments.
- Real Estate, 5%
Performed appraisal reviews on commercial, agricultural and residential real estate properties.
- Customer Service, 5%
Reported to division president, interfaced with senior-level internal contacts and organized customer service requests regarding asset-based lending products.
- Loan Portfolio, 5%
Managed agency, syndicated, bi-lateral loan portfolios.
- Credit Policy, 4%
Arranged payment plans, non-sufficient check reimbursements and other payment requirements based on established credit policy and procedure.
"financial statements," "credit card payments," and "real estate" are among the most common skills that credit administrators use at work. You can find even more credit administrator responsibilities below, including:
Listening skills. The most essential soft skill for a credit administrator to carry out their responsibilities is listening skills. This skill is important for the role because "collectors must pay attention to what debtors say when trying to negotiate a repayment plan." Additionally, a credit administrator resume shows how their duties depend on listening skills: "communicated credit policy changes internally to loan processors through team huddles and with premier credit champions via teleconferences and email. "
Negotiating skills. Another essential skill to perform credit administrator duties is negotiating skills. Credit administrators responsibilities require that "the main aspects of a collector’s job are reconciling the differences between two parties (the debtor and the creditor) and offering a solution that is acceptable to both parties." Credit administrators also use negotiating skills in their role according to a real resume snippet: "evaluated/approved credit applications; negotiating delinquent payment arrangements. "
Speaking skills. credit administrators are also known for speaking skills, which are critical to their duties. You can see how this skill relates to credit administrator responsibilities, because "collectors must be able to speak to debtors to explain their options and ensure that they fully understand what is being said." A credit administrator resume example shows how speaking skills is used in the workplace: "prepared/presented management with forecasting handled all aspect of credit & collection authorized to approve 20k credit limit. "
The three companies that hire the most credit administrators are:
- Regions Bank55 credit administrators jobs
- Bank of America22 credit administrators jobs
- S&T Ban7 credit administrators jobs
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Compare different credit administrators
Credit administrator vs. Loan officer
Loan officers are responsible for assisting borrowers on the best type of loans to avail and guiding the clients throughout the application process. A loan officer must be highly knowledgeable about different lending products, payment plans, loan regulations, and essential files for fast loan approval. Loan officers also act as the first point of contact, conducting an initial screening of the customers, process loan contracts and appropriate documentation, update account records, and respond to customer's inquiries. A loan officer also has the right to reject loan applicants who do not meet loan qualifications.
These skill sets are where the common ground ends though. The responsibilities of a credit administrator are more likely to require skills like "financial statements," "credit card payments," "real estate," and "loan portfolio." On the other hand, a job as a loan officer requires skills like "origination," "loan origination," "fha," and "nmls." As you can see, what employees do in each career varies considerably.
The education levels that loan officers earn slightly differ from credit administrators. In particular, loan officers are 1.6% less likely to graduate with a Master's Degree than a credit administrator. Additionally, they're 0.4% more likely to earn a Doctoral Degree.Credit administrator vs. Bank officer
A bank officer is in charge of overseeing the daily operations at banking establishments, ensuring efficiency and client satisfaction. Their responsibilities include gathering and analyzing requests, approving and denying loan applications, providing consultations, processing client requests, and producing progress reports. There are also instances where they sign important documents, delegate tasks, and resolve issues and concerns. Moreover, as a bank officer, it is essential to lead and encourage staff to reach goals, all while implementing the company's policies and regulations.
Each career also uses different skills, according to real credit administrator resumes. While credit administrator responsibilities can utilize skills like "credit card payments," "credit policy," "credit limits," and "past due accounts," bank officers use skills like "business development," "bank products," "client relationships," and "loan applications."
In general, bank officers achieve similar levels of education than credit administrators. They're 4.9% more likely to obtain a Master's Degree while being 0.4% more likely to earn a Doctoral Degree.Credit administrator vs. Mortgage consultant
A mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from credit administrator resumes include skills like "financial statements," "credit card payments," "real estate," and "loan portfolio," whereas a mortgage consultant is more likely to list skills in "origination," "nmls," "financial services," and "loan products. "
Most mortgage consultants achieve a similar degree level compared to credit administrators. For example, they're 1.2% less likely to graduate with a Master's Degree, and 0.6% less likely to earn a Doctoral Degree.Credit administrator vs. Mortgage banker
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Even though a few skill sets overlap between credit administrators and mortgage bankers, there are some differences that are important to note. For one, a credit administrator might have more use for skills like "credit card payments," "real estate," "loan portfolio," and "credit policy." Meanwhile, some responsibilities of mortgage bankers require skills like "nmls," "federal regulations," "bank products," and "loan programs. "
The average resume of mortgage bankers showed that they earn similar levels of education compared to credit administrators. So much so that theyacirc;euro;trade;re 0.5% less likely to earn a Master's Degree and more likely to earn a Doctoral Degree by 0.6%.Types of credit administrator
Updated January 8, 2025
