Small Business Portfolio, Collections, Workout and Recovery Management

Client Need: A top 10 bank was experiencing increasing small business portfolio management pressures based on inefficient processes designed around inadequate system functionality and a decentralized collection organization with ineffective collection performance goals.

Solution: The BenchMark team analyzed the current client organizational structure, technology, workflows, collections account treatments and job functions to identify opportunities for performance improvement. From that analysis, the team provided short-term strategies designed to fully leverage existing technology while also providing a blueprint for future system requirements. Additionally, recommendations were developed to improve collections and recovery performance including consolidation of operations, collector training in calling effectiveness and improvement in workout and recovery strategies.

Results: Portfolio management process improvements, collection training and improved system functionality along with recommended workout and recovery strategies resulted in annual savings of $3.4 Million. The client requested implementation assistance from the BenchMark team for recommendations.