A Fortune 200 financial services company determined it was not on track to meet regulatory requirements to close a significant number of identified risk events. They needed to scale quickly to resolve the situation by the deadline. Success demanded a partner experienced in delivering pragmatic solutions, who could skillfully balance business needs with risk to the organization, and who had a proven track record in the regulatory and compliance environment, specifically in collections and recovery. They found all three in our Spinnaker team of experts.
Create and execute a strategy to efficiently mitigate risk across collections, closing identified risk events to meet regulatory deadlines while ensuring the business could continue its focus on core initiatives.
The value the team brought to us over the past 6 months has been amazing. Spinnaker took us from a team of being reactive to a proactive organization and leading from the front. The data and visual management boards and gap closure processes have been a game changer for the organization. They also were able to bring out the best in our process owners, giving them the empowerment to run their businesses and speak in a way never done before. In short, they made us better. Fortune 200 Collections Executive
We began by rolling up our sleeves to inventory and analyze all identified issues, prioritizing the highest risk issues for completion. Our goal was two-fold: respond to high-risk issues, and then successfully operationalize solutions for long-term implementation with the benefit of driving future efficiency. Our deep experience in this area allowed the Spinnaker team to be up and running within two weeks, enabling real results faster.
The infusion of Spinnaker’s expert resources dramatically increased project capacity while condensing timelines, allowing the organization to maintain core business initiatives while project progress accelerated. By facilitating collaboration between P&L owners, Operations, IT and various risk groups, we were able to create transparency around project status, risks, issues, and dependencies allowing leadership to take the necessary actions to remove impediments. Throughout the project, Spinnaker was accountable for and closely managed all aspects from escalation and communication to reporting and implementation.