Case Study

Collections & Recovery Assessment

The Challenge

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.

The Solution

Performed a detailed review and assessment of client’s policies, procedures and other documentation and identified strengths and opportunities across 31 collections/recovery topics.

The Benefit

  • 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
  • Litigation

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.