Management role within international bank

The challenge

With the increase in mortgage payment defaults and the need to work more closely with a larger number of customers facing financial difficulties, this international bank recognised the importance of recruiting a seasoned professional with experience working in various economic cycles and, in particular, working in consumer collections during difficult periods.

The solution

• Arum subject matter expert deployed as Interim Head of Group Consumer Collections Operations, responsible for operations across multiple jurisdictions.
• Over an 11-month period established a viable operation, creating a new cross jurisdiction operational structure, processes, systems and team.
• Workflow tool, prioritisation and segmentation, call recording, productivity measurements, collections management information, collector incentive scheme.
• Emotional Quotient (EQ) training. 

The results

• Tangible increase in productivity.
• Residential Mortgages > 30 days delinquency levels stable, despite significant continuing challenges in the economy and the impact on customers.
• Increased quality of customer service calls.
• Trained and passed Arum IP onto internal candidate identified for managerial and head of department roles.
• More focused goals and objectives.
• Staff development creating a professional collections team.