How to Write an Effective Credit Policy
Discover the essential elements of an effective credit policy.
This topic will explain the need and purpose of a formal credit policy and how to create one. It will detail the essential policy elements and their content, and how to secure buy-in and approval from the affected stakeholders in the organization. As a bonus, it will review the value of performance standards for the key actions of managing credit risk, as well as the most important metrics to monitor its effectiveness and service quality.
• You will be able to discuss how a formal credit policy can govern this critically important business function.
• You will be able to review the essential elements of a credit policy.
• You will be able to explain how to document a formal credit policy.
• You will be able to identify key metrics to monitor the process’s health.