Collections & Recovery Assessment
The client wanted an outside opinion on their control framework as well as assessment of strengths and key opportunities, relative to industry experience and observed best practices.
Performed a detailed review and assessment of client’s policies, procedures and other documentation and identified strengths and opportunities across 31 collections/recovery topics.
- Progressed development of a compliance and control framework
- Assessment findings resulted in client’s near- and longer-term action plans to strengthen risk and control structure, while optimizing current operation
The client, a rapidly growing lender, wanted key areas of Collections & Recovery assessed to determine strength of business practices and their respective controls to mitigate risk.
After performing a thorough review of client policies, procedures and other documentation, along with on-site interviews, Bridgeforce identified strengths and opportunities across 31 collections and recovery topics. Additionally Bridgeforce shared insights and best practices for areas of specific concern, including:
- Control Framework
- Change Control
- Credit Bureau Reporting
The project team identified the most significant and impactful compliance and operational performance enhancements and prepared a plan to enable the client to accelerate execution and benefit realization.