Customer Channels & Operations Management, Risk Management & Regulatory Compliance
1 minute read
Apr 23, 2020
Written by: Scott Summers
Following a period of rapid growth, a large US commercial bank realized it needed to rethink the way it organized its business units, as a means to create greater visibility into risk and opportunities. The organization’s Enterprise Risk Management (ERM) team tapped Spinnaker to help justify that transition and begin to envision what transformation might actually look like.
The results? What began as mapping swim lanes and processes developed into a business case – using a complex system that touched 10 business units, each with different controls – that was used to validate investment in an enterprise-level solution that drove greater transparency for customers, shareholders and regulators. For more details on this engagement, check out the full case study here.
Credit Reporting Agencies are the backbone of our nation’s lending practices, as the information they deliver about a consumer’s financial profile often determines the terms of any loan and whether an application is approved. In normal times, as a best practice, banks and other financial institutions regularly furnish customer data to those agencies, also known as credit bureaus – but they maintain autonomy on what they furnish and to which agency.
Risk Management & Regulatory Compliance 4 minute read
In the 10 years following the Great Recession, significant numbers of home equity lines of credit (HELOCs) were booked. Now, as we navigate another recession, the balances on those accounts are catching up with customers – and the banking industry – in a big way.
Customer Channels & Operations Management, Process Development, Compliance 5 minute read
The Big Picture In today’s heightened regulatory environment, it’s hard to imagine that just a decade ago, banks handed over charged-off accounts to outside recoveries agencies without much thought. After all, the bad debt had been written off and the banks had already invested considerable resources during the collections process trying to get those customers reestablished.
Customer Channels & Operations Management, Data & Analytics, Risk Management & Regulatory Compliance 6 minute read
Like how we think? Subscribe to have our articles delivered direct to your inbox each month.
Headquarters: 8000 Franklin Farms Drive, Suite 100, Richmond, VA 23229
©2022 Spinnaker Consulting Group. All rights reserved.