WHAT DOES A CREDIT ADMINISTRATOR DO?

Published: September 9, 2024 - The Credit Administrator oversees bank account management activities, including the opening and closing of accounts, modifications of signatory details, and service changes in banking systems. This position manages daily financial operations such as the retrieval of bank statements, deposit of corporate checks, and administration of online banking platforms, alongside weekly cash activity reporting and intercompany updates. This role coordinates corporate credit card administration through the Citibank platform, handling new card requests, card closures, bill submissions, and compliance monitoring of expense reporting.

A Review of Professional Skills and Functions for Credit Administrator

1. Credit Administrator Duties

  • Communication: Ensuring strong and effective communication with customers, management, and credit sales teams.
  • Credit Reporting: Accessing the appropriate credit reports for all commercial credit applications.
  • Data Integrity: Verifying and ensuring the integrity of all data.
  • Credit Monitoring: Maintaining and monitoring available credit information.
  • Task Management: Ensuring accurate and timely completion of tasks.
  • Debt Management: Assisting the national credit manager with debts held in pre-legal and legal ledgers.
  • Credit Control: Managing credit control and collections.
  • Account Review: Reviewing new account applications.
  • Credit Investigation: Conducting credit investigations and approving credit limits within authorized amounts (for credit limits over authorized amounts, making recommendations to the Credit Manager).
  • Dispute Resolution: Assisting with dispute resolution, collections, account resolution, and legal follow-up.
  • Relationship Building: Working closely with sales and management to build strong relationships with customers.
  • Order Processing: Reviewing and releasing orders from credit hold.
  • Credit Monitoring: Monitoring credit limits and past due balances, ensuring customers pay within terms.

2. Credit Administrator Details

  • Request Management: Daily management of requests related to current credits.
  • Relationship Management: Contact with Relation Managers.
  • Analyst Support: Daily support to Credit Analysts.
  • Information Retrieval: Searching for information for various attestations.
  • Document Archiving: Archiving of credit agreements.
  • Agreement Determination: Determination or checking of the adequate type of agreement to use.
  • Cost Calculation: Calculation or checking of APR, total cost of credit, and daily interest.
  • Cover Letter Preparation: Preparation or signing of cover letters.
  • Contract Verification: Checking client returns (contract validity, mention, signature).
  • Account Opening: Requesting the opening of credit technical accounts.
  • Pledge Verification: Verification of the implementation of the pledge.
  • Credit Provision: Provision of the credit.

3. Credit Administrator Responsibilities

  • Account Setup: Set up new accounts in the AS-400 system.
  • Supplier and Bank Communication: Contact suppliers and banks for trade references.
  • Payment Processing: Process and post payments for daily, weekly, and Net 10 credit card transactions, On Account Cash, Check by phone, sales force tasks, and mail orders.
  • Customer Support: Provides customer support regarding invoices and statements, as well as answering basic account receivable questions.
  • Inbound Call Handling: Receives inbound customer calls related to credit and accounts receivable.
  • Account Management: Contact accounts regarding NSF, credit card declines, delinquent accounts, payments, and payment arrangements 
  • Bulk Payment Posting: Upload and post bulk payments.
  • Scanning and Filing: Scanning and filing, and lobby coverage.
  • Order Evaluation: Evaluate and release orders from the Credit Hold screen.
  • Dispute Resolution: Works with customers to answer questions, resolve disputes, and research discrepancies.
  • Account Maintenance: Performs customer account maintenance.
  • Credit Reconciliation: Assists Credit Representatives in account reconciliations and customer communications.

4. Credit Administrator Job Summary

  • Automated Payments Management: Processes of reoccurring automated payments and credit card payments.
  • COD Assistance: Assists Credit Representatives with COD (charges on delivery) traces.
  • Call Handling: Answers telephone, screens, and directs calls.
  • Mail Handling: Collects, sorts, opens, and distributes all incoming and inter-company mail.
  • Credit Limit Presentation: Presents information to the credit manager when the limit requested exceeds guidelines or reports are conflicting.
  • Cross-Training: Cross-train in all areas of responsibility but will work in a team environment to accomplish all goals.
  • Account Management Support: Provide assistance to Credit and Collection Analysts in managing accounts in order to continually assess credit risks.
  • Document Request: Request bank, trades, financial statements, and credit reports to assist Credit Department.
  • Credit File Update: Update credit files with commercial credit reports, customer correspondence, and other customer information.
  • System Update: Update multiple systems with customer information.
  • Credit Reference Response: Respond to credit reference requests.
  • Discrepancy Resolution: Work with team members and customers to research and resolve discrepancies in a timely manner.

5. Credit Administrator Accountabilities

  • Documentation Preparation: Preparation of documentation relating to bank account management, such as opening/closing accounts, changing signers on accounts, or changing services on accounts.
  • Banking Platform Administration: Online administration for banking platforms for Canadian and US banking.
  • Bank Statement Retrieval: Daily and monthly pull of bank statements from online platforms.
  • Check Depositing: Depositing corporate checks.
  • Cash Management Reporting: Support cash management reporting to regional business groups by preparing weekly cash activity reporting and updating relevant intercompany reporting.
  • Regional Program Oversight: Responsible for overseeing and assisting regional program administrators and Corporate cardholders.
  • Card Request Management: Completion of new card requests and closure of credit cards within Citi Bank.
  • Citibank Administration: Online administration within Citibank platform for cardholders.
  • Credit Card Bill Review: Reviewing and submitting corporate credit card bills for payment.
  • Expense Report Processing: Expense report processing, including reviewing credit card purchases for compliance with policies and procedures, including follow-up with cardholders.
  • Surety Bond Tracking: Responsible for Surety bond tracking at the Corporate level for regional business groups.
  • Treasury Support: Support for various treasury-related ad hoc requests and projects.
Relevant Information
What Does A Credit Manager Do?
What Does A Credit Specialist Do?
What Does A Credit Underwriter Do?