Problem:     A student loan servicer was having a problem with ineffective collections and claims filing of guaranteed student loans, which had resulted in several million dollars in loan losses. 

Solution:     We helped the client reduce and control ongoing losses by refocusing the client’s efforts, designing more effective processes, and implementing a continual monitoring, measurement, and improvement program.  We:

•     Re-focused the organization’s attention on preventing delinquencies as a way of decreasing the number of claims and helped them understand the financial benefits of preventative action.

•     Designed more efficient and effective collections and claims processes that achieved the desired result.

•     Developed procedural documentation to ensure consistent execution throughout the organization.

•     Developed and instituted an ongoing operational risk management methodology including risk indicators, a quality control program, and management reports.

Note:    Actual client names have been removed due to confidentiality issues.