Credit Officer
On this page
- What's it like to be a Credit Officer?
- How to become a Credit Officer
- Top skills and experience for Credit Officers
What's it like to be a Credit Officer?
Credit Officers assess whether loan applications will be approved or not. Also known as Loan Officers, these finance professionals are responsible for not only screening a client’s eligibility for a loan, but also for processing the loan application and maintaining the latter’s loan or credit portfolio.
Tasks and duties
- Evaluating clients’ creditworthiness to apply for loans including the risks involved.
- Processing the financial documents of clients from collecting to validating.
- Approving or rejecting loan applications depending on clients’ eligibility.
- Monitoring clients’ loan status including maintaining their credit records.
- Preparing and presenting loan application reports to the management as needed.
Given their responsibilities, Credit Officers spend considerable time meeting with clients and handling different types of financial documents. Therefore, they must have strong communication and interpersonal skills, as well as excellent analytical and organisational abilities to be able to manage all kinds of applicable critical information.
How to become a Credit Officer
To become a Credit Officer, it is usually a must to have a background in finance or a similar field. You also need to have sufficient experience in the same industry to qualify for Credit Officer jobs in Malaysia.
Complete a bachelor degree in finance, banking, accountancy, or business. A degree in mathematics is also another option. All paths should provide you with the fundamental knowledge and skills to start a career as a Credit Officer.
Take up credit management or credit administration courses. There are many institutes in Malaysia offering these programmes online and they usually take a few hours to days to complete. These are also a good platform to build your soft skills as a Credit Officer.
Gain extensive experience in the banking industry. Banks are typically where you can find work opportunities as a Credit Officer and learn more about loan application processes. So, this is a step that you must undergo to gain the credentials you need to be successful in the profession.
