|
CREDIT MANAGER
Casino credit manager Position Description
A Credit Manager in a casino is in charge of various casino credit functions. This is an administrative position. Depending on the specific casino, the individual may also be referred to as a credit executive. The Credit Manager may report to the credit supervisor, the vice president of casino operations, or the assistant general manager or v.p. of general finance depending on the structure of the individual facility.
The structure of each casino is different. Sometimes there is one Credit Manager. In other facilities, there may be a Credit Manager for each shift. When people visit casinos to gamble, they often request credit. They may, for example, ask for a certain amount of credit or a loan. The Credit Manager is expected to check out each person’s credit rating or worthiness before extending a line of credit.
This includes the available credit a person may have as well as a credit history. To do this, the Credit Manager may check computer credit sources, fax banks, or get information from other casinos. If the Credit Manager finds that an individual’s credit is good, he or she will extend a line of credit to be used in the casino. The amount extended will depend on the credit manager’s recommendations or evaluation. If the Credit Manager finds that an individual’s credit is overextended, he or she must deny credit, and this must be done in a tactful manner. There is a great deal of responsibility in this type of job. Some of the job functions include:
- Supervising credit clerks
- Monitoring job performance of the department staff
- Reviewing credit applications for completeness
- Creating and maintaining credit histories on guests
- Recommending credit limits based on credit checks
- Handling customer complaints regarding credit
Salaries
Casino credit managers can earn between $28,000 and $55,000 or more per year. Annual earnings depend on the specific casino the individual is working in, its size, prestige, and geographic location. Other variables include the individual’s experience, responsibilities, training, and education. Generally, the larger or more prestigious the casino, the higher the earnings will be for this position. Employment Prospects
Individuals may find employment in casinos throughout the world. Employment opportunities are good. This is an important job in every casino. While individuals may find employment in any casino in the world, most opportunities exist in areas where there are a large number of casinos.
Las Vegas, Reno, Laughlin, Lake Tahoe, Atlantic City, Biloxi, Baton Rouge, New Orleans, and Detroit offer the greatest number of job possibilities. Other employment settings may include casino hotels in other areas of Nevada, Mississippi, New York, Louisiana, Colorado, Connecticut, Illinois, Arizona, and California. Other regions hosting Indian gaming and land-based or riverboat gaming facilities offer additional opportunities. New casinos and casino hotels are constantly under construction. More casinos and casino hotels are also opening every year as areas legalize gambling.
Advancement Prospects Casino credit manager
Casino Credit Managers can advance their careers by locating similar positions in larger or more prestigious casinos. They may also climb the career ladder by obtaining experience and becoming a credit supervisor or the director of casino credit.
Education and Training
Education and training requirements for Casino Credit Managers vary. In some positions, individuals need only have a high school diploma or GED and three to five years working in the credit or collection area. In other jobs, individuals may be required to have training in general business and/or accounting.
Many casino jobs also have on-the-job training programs. Some have their own in-house training programs. Community colleges, vocational technical schools, and gaming institutes throughout the country also offer training. Individuals working in casinos must usually be licensed by the state in which they work.
Special Requirements
State licensing is generally required for employees working in or around the gaming area in casinos. Generally this license is issued by a regulatory agency such as the specific state’s casino control board or commission. Each state has its own rules and regulations regarding which specific occupational licenses and permits are necessary for casino employees. In some states individuals, for example, must apply for and obtain a general gaming license. In some there are various levels of licensure and permits.
Certain states may require a key employee license for those working in the management area of casinos. The human resource department of casinos provide individuals with specific licensing requirements for each position. Most states also have a minimum age requirement for this position.
Experience, Skills, and Personality Traits
While the amount of experience varies, Casino Credit Managers are usually required to have a minimum of three to five years working in the credit or collection area. Supervisory experience is usually also required. Some facilities additionally require or prefer that applicants have cage or casino experience as well.
There are Casino Credit Managers who started out working as slot booth cashiers and moved up to cage cashiers before working in the credit department. In other situations, the Credit Manager has worked as a credit clerk or credit clerk shift supervisor in the casino and been promoted from within. Individuals need supervisory skills for this job. They must also have excellent verbal communication skills. Tact and diplomacy are also needed. Credit Managers should enjoy working with others and have good guest relations skills. Computer skills are necessary.
Unions and Associations
There are no bargaining unions for Casino Credit Managers. Individuals may belong to local gaming associations.
Tips for Entry for Casino credit manager
1. Look for a job as a credit clerk in a casino to obtain experience in this area.
2. Considering taking classes at a gaming institute to learn more about this job and to obtain a more thorough understanding of gaming.
3. If you do not live in an area hosting gambling and are thinking about moving, you might want to take a job working with a collection agency until you do. Ths will be good experience.
4. Positions for this type of job are often advertised in the newspaper classified section in areas where gaming is prevalent. Look under headings such as "Credit Manager," "Credit Executive," "Gaming," or "Casinos."
5. If you don’t live in an area hosting gambling and are interested in looking for a job, consider subscribing to a newspaper in an area that does. You can also usually buy Sunday newspapers from different parts of the country in better bookstores and newspaper shops.
6. Positions are also advertised on the Internet. Put in search words including "Gaming," "Casinos," or the job title "Casino Credit Manager," or check out individual casino Web sites for employment listings.