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Banking – Building a Recovery & Collection team for the new economy

Banking – Building a Recovery & Collection team for the new economy

Reflecting the significant change in the economy, as well as changes in regulatory environment, a major bank in Ireland undertook the re-organisation of its customer recoveries business unit between.

The challenge

We had to support the merger of three different product driven collection teams into a single customer focused recovery area, while dealing with significant historic backlogs in each of the teams, continued increases in customers entering the recovery unit, and remaining compliant with changing regulatory requirements.

What we did

The implementation of this project meant addressing a number of issues. These included the definition of new team roles and responsibilities, re-visiting business processes and removing bottlenecks, clarifying policy and getting agreed changes to policy to allow faster and more effective decisioning, introducing new action focused metrics to allow for better decision making, mobilising the recruitment of a number of temporary staff into the team and merging three existing teams into a new team with its own identity.

The  outcome

 The project was completed over 10 months and resulted in a single customer recoveries team, with processes focused on customer debt collection rather than product, policy and processes designed for different thresholds and likely recoverability of debt, and a fully cleared backlog of work across all areas.

This case study shows how Pathfinder Change Management Consultants helped a company in the finance sector in Ireland devise a plan to re-organise its customer recoveries business unit. For other examples click here for more information. 

Services

Business Transformation

Sector / Business Area

Finance / Business Transformation

Key Contacts

Brian Keyes
José Fuentealba