Head of Collections for Arrears Support Unit

The challenge

This highly-regulated Irish bank required an experienced specialist to take up the position of Head of Collections Operations. The role involved the day-to-day management of its Arrears Support Unit (ASU), mentor and transfer knowledge to other members of the team, and succession planning for the future.

The solution

• Reviewed all processes and procedures and reported on all areas of improvement and risk to the ASU Management team and Executive.
• Improved IT solutions to increase productivity and effectiveness and reduce overheads.
• Managed the performance for all staff to maximise potential and staff advocacy.
• Took responsibility for the internal reputational management of the division’s performance and standing as viewed by the rest of the Business and the Executive Board, helping to protect the Bank’s external reputation with stakeholders, including the media, customers and government.  This also included ensuring the performance and service delivery of all 3rd party suppliers, including costs and supply chain risk.
• Ensuring that the department adhered to all relevant IT, governance, compliance and risk policies and procedures. 

The results

• Operational delivery of collections for a €4.2bn mortgage arrears portfolio, with all activities carried out on time and on budget.
• Performance was improved over the contract lifecycle by working closely with the strategy team to create new and innovative collections strategies; through the on-going development and monitoring of collector incentive schemes; by developing and proactively analysing MI to identify trends, share learning, make recommendations and implement changes to strategy.
• Staff met their obligations and revenue objectives, while also treating customers fairly.
• The Consumer Protection Code and the Code of Conduct for mortgage arrears fully imbedded and adhered to.
• Gained a reputation and respected as a leading bank in arrears management within the industry.