Create credit policy

Create guidelines for a financial institution’s procedures in supplying assets on credit, such as the contractual agreements which have to be made, the eligibility standards of prospective clients, and the procedure for collecting repayment and debt.

create mortgage policy
create loan scheme
create loan protocol
create loan policy

skill/competence

sector-specific

Create credit policy is an essential skill of the following occupations:

Credit manager: Credit managers oversee the application of credit policy in the bank. They decide the credit limits to be imposed, the reasonable levels of risk accepted and the conditions and terms of payment made to the customers. They control the collection of payments from their customers and manage the credit department of a bank.
Credit union manager: Credit union managers oversee and manage member services, supervise staff and operations of credit unions. They inform staff about the latest credit union procedures and policies and prepare financial reports.

Create credit policy is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Insurance rating analyst: Insurance rating analysts analyse information related to insurance markets and their credit rating, prepare rating reports and invoices, compile financial data and present and explain credit rating opinions to stakeholders, clients and external parties. They work for insurance companies and calculate the insurance premium and rates for the company’s clients using both manual and automated methods.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.

References

1. Create credit policy – ESCO