What do Credit Authorizers, Checkers, and Clerks Do?
Credit Authorizers, checkers, and clerks help institutions decide whether or not to extend credit to individuals or businesses. They may also be charged with investigating an individuals or business financial history when applying for credit. Authorizes often rely on interviews, both in-person and over-the-phone, to make a final decision in regards to the loan, so interpersonal skills are beneficial. After the final decision is made, the authorizer typically contacts the person or institution to explain the reason for acceptance or denial. Working in this field requires in-depth knowledge of basic financial principles.
Credit Authorizers, Checkers, and Clerks Skills and Abilities
Since meeting with clients is a regular practice for checkers, so having strong communication and customer service skills is a must. A high degree of sensitivity is also required during the delivery of credit decisions. Knowledge of legal codes regarding financial procedures and policies is necessary. Credit authorizers should feel comfortable speaking in front of others while using a clear and professional-sounding voice. Regular communication with superiors and coworkers is expected of credit checkers.
Credit Authorizers, Checkers, and Clerks Duties
Credit authorizers and checkers are primarily tasked with keeping track of customers charges and payments. They also evaluate electronic customer records to determine whether or not the applicant is eligible for a loan. At higher levels, clerical work, such as maintaining ledgers and filing receipts, are part of the job. Credit checkers may also:
- Prepare credit cards or charge accounts
- Mail credit statements and charge slips
- Receive financial information from merchants and salespeople
- Obtain information about potential creditors from banks and credit associations
- Contact creditor references for decision purposes
- Review state and local records for information regarding bankruptcies, liens, and foreclosures
Credit Authorizers, Checkers, and Clerks Tools and Technology
Credit authorizes utilize a wide range of electronic devices in an effort to simplify their duties. A basic understanding of computers is non-negotiable since the majority of records and information will be accessed electronically. Other office electronics such as fax machines, printers, and calculators are commonplace. Proficient knowledge of the internet is also required when e-mailing associates and researching various financial topics.
Education and Training for Credit Authorizers, Checkers, and Clerks
Although this field requires basic mathematical knowledge, it does not require advanced degrees or certifications. In order to enter this particular line of work, a high-school diploma or its equivalent is typically required. Approximately 35% of credit authorizers held a diploma, and another 31% had at least some college education. This field does not involve extensive on-the-job training and its relaxed educational requirements make this a high-quality entry-level job. Job seekers with organizational skills and a love of numbers will enjoy working as a credit authorizer.
Credit Authorizers, Checkers, and Clerks Salary
If you are seeking a profession that can provide a stable income, the credit authorization industry might be a good fit. The median income for a credit authorizer, checker, and clerk is $34,500, with the top 10% grossing over $54,000 a year. The lowest paid workers in this industry earned approximately $24,400 a year. As with any job, years of experience, education level, and geographic location can greatly influence your salary. There was a 1% national increase in credit checker wages over the previous year. Authorizers employed by the natural gas industry earned the highest wages, while those employed in the credit intermediation industry earned the lowest.
Credit Authorizers, Checkers, and Clerks Jobs by Geography
Texas, Ohio, and California employed the largest number of workers in this industry respectively. Mississippi, Louisiana, and Ohio had the largest concentration of authorizers in respect to the general population. Connecticut authorizers had the highest salary nationwide – $46,200. The demand for credit authorizers decreased by roughly 3% last year, so finding a job in this industry may be slightly more difficult than in previous years.