What Does a Credit Specialist Do?
A credit specialist plays a critical role in managing financial risk for organizations by evaluating the creditworthiness of individuals or businesses. They analyze financial statements, credit reports, and payment histories to make informed decisions about extending credit, setting payment terms, and approving financing or account limits. Their work directly impacts cash flow, customer relationships, and a company’s bottom line.
Credit specialists often work in industries with recurring or high-volume transactions, such as financial services, manufacturing, logistics, or wholesale distribution. They partner with sales, accounts receivable, and compliance teams to manage credit risk while supporting business growth. By applying consistent credit policies and monitoring account performance, credit specialists help organizations minimize losses, reduce delinquencies, and maintain a healthy balance sheet.
Looking to Hire a Credit Specialist?
Speak with one of our recruiting experts today.
Credit Specialist Core Responsibilities
- Evaluate credit applications using financial statements, credit reports, and internal scoring models
- Set credit limits and payment terms in alignment with company policies
- Monitor customer accounts for delinquency, disputes, or risk red flags
- Communicate with customers regarding outstanding balances or credit decisions
- Collaborate with sales and accounts receivable teams to manage account issues
- Review credit policies and recommend process improvements
- Maintain accurate credit files and documentation for audits
- Prepare credit risk reports and portfolio summaries for finance leadership
- Ensure compliance with applicable financial regulations and company policies
Required Skills and Qualifications
Hard skills
- Proficiency with credit analysis tools and financial reporting platforms
- Knowledge of credit laws and regulatory frameworks (e.g., FCRA, UCC)
- Experience with ERP and accounting software (e.g., SAP, Oracle, QuickBooks)
- Ability to interpret credit scores, D&B reports, and financial ratios
Soft skills
- Strong analytical and critical thinking abilities
- Excellent written and verbal communication
- Attention to detail and consistency in documentation
- Ability to manage deadlines and handle high volumes of data
Education
- Bachelor’s degree in finance, accounting, economics, or a related field
Certifications
- None required; Credit Business Associate (CBA) or Credit Business Fellow (CBF) from NACM is recommended
Preferred Qualifications
- Experience managing credit risk in B2B or commercial environments
- Familiarity with international credit practices or multi-currency accounts
- Prior background in collections or customer finance operations
- Knowledge of lien and UCC filing processes
National Average Salary
Credit specialist salaries vary by experience, industry, organization size, and geography. Click below to explore salaries by local market.
The average national salary for a Credit Specialist is:
$68,824
Sample Job Description Templates for Credit Specialists
Commercial Credit Specialist
Position Overview
A commercial credit specialist evaluates the financial health of business clients to determine creditworthiness and establish terms for trade credit or lines of credit. They play a key role in minimizing risk across accounts receivable portfolios and support sales and finance teams in maintaining healthy customer relationships.
Responsibilities
- Analyze business credit applications, including financial statements, D&B reports, and payment history
- Set credit limits and terms in line with company policy and risk profile
- Monitor account activity for aging, payment delays, or default risks
- Maintain accurate credit files and documentation for audit readiness
- Collaborate with AR, sales, and legal teams to manage credit disputes and account resolutions
- Generate and deliver credit risk reports to finance leadership
- Enforce internal credit policies and recommend process improvements
Requirements
Hard skills
- Experience with business credit analysis and risk evaluation tools
- Proficiency in ERP and financial platforms (e.g., Oracle, SAP)
- Knowledge of commercial credit laws and UCC filing processes
- Ability to interpret business financials (e.g., balance sheets, cash flow)
Soft skills
- Excellent judgment and risk analysis
- Communication and negotiation with internal and external stakeholders
- Organizational and multitasking skills
- Analytical mindset with attention to detail
Education
- Bachelor’s degree in finance, accounting, or business
Certifications
- Credit Business Associate (CBA) – NACM preferred
Preferred Qualifications
- Experience with high-volume or enterprise B2B accounts
- Familiarity with credit insurance or factoring services
- Exposure to international commercial clients
Consumer Credit Specialist
Position Overview
A consumer credit specialist is responsible for assessing the creditworthiness of individuals applying for loans, lines of credit, or financial services. They ensure compliance with internal lending policies and external regulations while providing timely, accurate credit decisions.
Responsibilities
- Review consumer credit applications and supporting documents
- Analyze credit reports, scores, and payment history
- Verify employment, income, and identity for loan eligibility
- Recommend approvals, declines, or alternative terms based on credit risk
- Communicate credit decisions to internal teams or loan officers
- Maintain compliance with Fair Credit Reporting Act (FCRA) and lending laws
- Document decisions and update loan management systems accurately
Requirements
Hard skills
- Proficiency with consumer credit platforms (e.g., Experian, Equifax, TransUnion)
- Knowledge of credit scoring models (e.g., FICO)
- Familiarity with lending compliance regulations (FCRA, ECOA)
- Ability to evaluate income verification and debt-to-income ratios
Soft skills
- Attention to detail and accuracy in documentation
- Discretion and professionalism in handling sensitive data
- Strong written and verbal communication skills
- Time management in high-volume environments
Education
- Bachelor’s degree in finance, economics, or a related field
Certifications
- None required
Preferred Qualifications
- Background in consumer lending, banking, or credit unions
- Experience with personal loans, auto loans, or credit card underwriting
- Bilingual communication skills for diverse applicant pools
Mortgage Credit Specialist
Position Overview
A mortgage credit specialist is responsible for evaluating loan applications to determine a borrower’s ability to repay a mortgage. They work closely with loan officers and underwriters to ensure all financial criteria and documentation meet lending standards.
Responsibilities
- Analyze mortgage applications, including credit reports, income, and liabilities
- Evaluate risk based on credit history, employment, and debt ratios
- Verify supporting documentation such as W-2s, tax returns, and bank statements
- Work with underwriters to validate documentation and resolve exceptions
- Input and track data in loan origination systems
- Ensure all evaluations meet internal and regulatory lending guidelines (e.g., FHA, VA, Fannie Mae)
- Communicate with applicants or brokers regarding documentation requirements
Requirements
Hard skills
- Familiarity with mortgage credit scoring and underwriting guidelines
- Knowledge of mortgage regulatory standards (e.g., RESPA, TILA)
- Proficiency with loan origination software (e.g., Encompass, Calyx)
- Experience analyzing financial documents and verifying accuracy
Soft skills
- Strong analytical thinking and judgment
- Ability to work independently and manage sensitive timelines
- Clear communication and document review
- Exceptional organizational skills
Education
- Bachelor’s degree in finance, real estate, or related field
Certifications
- None required; mortgage underwriting certifications are a plus
Preferred Qualifications
- Previous experience in loan processing or underwriting
- Familiarity with FHA, VA, or USDA loan criteria
- Exposure to high-volume lending environments
Trade Credit Specialist
Position Overview
A trade credit specialist manages the extension of credit between suppliers and customers in a commercial setting. They evaluate customer risk, negotiate payment terms, and help mitigate financial exposure for the company.
Responsibilities
- Assess credit applications from business clients using financial and trade references
- Recommend and manage credit limits, terms, and payment schedules
- Monitor receivables and enforce terms for timely collections
- Conduct periodic reviews of customer accounts and risk profiles
- Coordinate with sales and operations on contract terms
- Document trade credit agreements and communicate terms clearly
- Support dispute resolution and maintain accurate customer records
Requirements
Hard skills
- Knowledge of trade credit policies and credit insurance practices
- Familiarity with ERP and AR systems (e.g., NetSuite, SAP)
- Understanding of credit risk in a B2B or distribution environment
- Analytical ability to interpret payment trends and customer history
Soft skills
- Strong negotiation and customer service mindset
- Attention to contractual detail
- Ability to manage deadlines and adjust terms dynamically
- Team-oriented with solid communication skills
Education
- Bachelor’s degree in finance, business, or supply chain
Certifications
- Credit Business Associate (CBA) or similar credential preferred
Preferred Qualifications
- Background in wholesale, logistics, or manufacturing credit
- Experience with multi-location account portfolios
- Familiarity with liens, terms, and invoice dispute tracking
International Credit Specialist
Position Overview
An international credit specialist assesses credit risk and manages financial exposure for customers outside the United States. This role involves reviewing trade credit terms, evaluating foreign financial data, and ensuring compliance with international trade laws and currency regulations.
Responsibilities
- Evaluate the creditworthiness of international customers using financial and trade data
- Establish and monitor credit limits based on regional economic and currency risks
- Communicate with foreign clients and vendors to clarify terms and resolve issues
- Work with export teams and finance to ensure proper documentation and risk mitigation
- Coordinate with insurers or banks regarding letters of credit and trade credit insurance
- Maintain compliance with international trade laws, import/export regulations, and local credit laws
- Prepare international credit risk reports and recommend policy changes
Requirements
Hard skills
- Understanding of international finance, trade credit, and currency exposure
- Experience with cross-border credit documentation and payment processes
- Familiarity with Incoterms, export compliance, and trade credit insurance
- Proficiency with financial databases and global credit reporting tools (e.g., Coface, Euler Hermes)
Soft skills
- Multilingual or culturally aware communication
- Analytical thinking and regional risk analysis
- Ability to work across time zones and with global partners
- Attention to compliance and regulatory detail
Education
- Bachelor’s degree in international business, finance, or economics
Certifications
- International Credit & Risk Management (ICRM) certification recommended
Preferred Qualifications
- Experience managing global accounts receivable or trade credit lines
- Background working with multinational corporations or export departments
- Familiarity with international banking instruments like letters of credit