1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Connie Shoemaker As Vice President of SWBC’s Financial Institution Group, Connie oversees a professionally-trained staff that supports the Collection Department and the Electronic Cash Management product. Under Connie’s direction, SWBC’… Web: www.swbc.com Details You could easily argue that a comprehensive training program is one of the most important items when considering an outsourced collections partner. This is where a collector will learn skills on how to excel when it comes to etiquette, where they will learn about the collections process, and where they will learn how to comply with regulations.A well-established training program is critical to the success and compliance of a collections operation. Since the type and frequency of training the collections staff gets directly impacts your borrowers, having a high-level understanding of the program is important. Collections Training OverviewTraining programs should include both classroom and real-life trainings. This allows collectors to learn the ins and outs of their role and also apply what they have learned in the classroom setting to real-life situations. If you can feel confident about the training that your outsourced collections staff receives, then you can feel confident that your members will experience the kind of service that your credit union would provide them.Compliance Training Compliance is an on-going challenge for most financial institutions. With something as regulation-intense as collections, it’s important that you understand how your collections partner administers compliance training to their staff. Compliance should not be a quick review, but rather in-depth so that their staff understands the importance of remaining compliant with the necessary regulations.Fair Debt Collections Practices Act (FDCPA)The FDCPA was enacted to protect consumers from abusive, deceptive, and unfair debt collection practices, particularly from third-party debt collection agencies. It also restricts the time and frequency of collection calls, and provides guidelines for what constitutes acceptable and unacceptable behavior by debt collectors. This law is particularly critical for a collection staff to be properly trained. Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)UDAAP prohibits firms offering financial services from engaging in unfair, deceptive, or abusive acts or practices. According to the CFPB, an unfair act or practice:Causes or is likely to cause substantial injury to consumers;The injury is not reasonably avoidable by consumers; andThe injury is not outweighed by countervailing benefits to consumers or to competitionA well-trained collection staff will have a thorough understanding of their expectations under UDAAP when dealing with borrowers, will know how to identify potential complaints, and know what steps to take in order to resolve complaints. Systems NavigationYour partner’s collection team will need to be trained in the specific systems and software that they will be using to execute their tasks. Ensure that your training program includes time spent learning and navigating these tools so that the collections team is operating at maximum efficiency. A high level of functional familiarity with your collection platform will streamline the process of accepting payments.Effective CommunicationCollections agents spend a lot of their time interacting with your members, and the nature of these conversations can sometimes be stressful for the member. It is imperative that your partner’s collectors have had extensive training in how to handle these situations tactfully and effectively. Scripting and role playing different scenarios will ensure that the agent has a solid grasp on:Being professional How to ask probing questions Overcoming objections How to negotiate payments from the debtor Evaluating AgentsOnce the collections team has undergone training, it’s important that your partner evaluates their understanding of their role as a collections agent, compliance practices, communication strategies, and daily operations. All collection agents should have passing scores on:Compliance Exams Systems Navigation Communication StrategiesPeriodic Quality ChecksLearn how FAIRWINDS Credit Union decreased delinquency by 75% over a 5-year period by outsourcing their collections work to SWBC. Click here to download the case study.
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Share Share Sharing is caring! LocalNews Public lecture on diabetes at Fort Young Hotel tonight by: – November 7, 2011 Share Tweet Image via: topnews.comIn observance of World Diabetes Day 2011 the Dominica Diabetes Association presents a public lecture at the Fort Young Hotel on Monday 7th November at 7pm.Topic of the lecture is “Self Management of Diabetes, a difficult balance”. Presenter will be Mrs Edris Le Blanc-Sahlu, a Care Coordinator, Heart Failure and Diabetes Educator at the Atlanta Veterans Affairs Medical Center in Georgia, USA. She is a certified Instructor in the fields of Basic Life Support, and Advanced Cardiac Life Support.A citizen of Dominica by birth, Mrs Le Blanc-Sahlu initially trained as a Registered Nurse in Dominica, and for a time was employed at the Princess Margaret Hospital before emigrating to the United States of America. She continued personal development there, graduating with Bachelor and Master degree in Nursing from US Universities.Mrs Le Blanc-Sahlu has over the years received numerous awards for ‘outstanding accomplishments’ in her field, and is currently nominated by the March of Dimes for Nurse of the Year in her home State of Georgia.This lecture will be primarily aimed at diabetics, their care givers, and health care providers generally. The public is encouraged to take advantage of this opportunity to receive information on the latest trends in management of diabetes, and development of diet plans and other skills that will minimise catastrophic complications.The presentation will be followed by questions and answers, admission into the lecture will be free.Press ReleaseDiabetes Association and the Rotary Club of Dominica 26 Views no discussions
An investigation is underway after a woman was kidnapped and robbed in Boca Raton on Tuesday.Police say the victim was approached by a woman asking for help outside a Publix Super Market in Boca Raton.The woman told the victim she was new to the area and was looking for an attorney’s office.The victim then followed the woman to a van and got inside the car.As soon as the victim entered the vehicle, a man locked the doors and demanded money, officials say.After the kidnapping, the suspects drove the victim to a Broward County Publix, where they told her to go inside and call someone to have money sent, or they would kill her.The woman then called relative and had money wired to her.Once the kidnappers received the money, they released the victim unharmed, police said.The two suspects are still at large.Police describe the female suspect as Hispanic with dirty blonde hair who is about 45 to 50 years old, 5 feet 8 inches with a heavy build.She was reportedly wearing ripped blue jeans and a white shirt with gold hoop earrings, and her hair was in a ponytail.The male suspect is described by police as Hispanic, 45 to 50-years-old, 5 feet 2 inches with a slim build and dark hair.He was reportedly wearing a blue windbreaker with a V-neck shirt underneath and black pants.The vehicle used in the case may be a tan Honda Odyssey.Anyone with information is asked to call the Boca Raton Police Department.