Post Tagged with: "risk management"

What Gets Measured Gets Done: Establishing Key Risk Indicators to Measure Compliance Health

What Gets Measured Gets Done: Establishing Key Risk Indicators to Measure Compliance Health

When we visit a doctor, we learn much about our health risk based on various measurements. Doctors check our blood pressure, heart rate, and cholesterol levels, and then compare them to medically determined acceptable rates. If our results are higher than the acceptable rates, doctors will advise us how toRead More

How Warm Is Your Welcome?

How Warm Is Your Welcome?

The most successful auto servicers know the welcome call is more than just a formality to perform when a new account comes on board. It is the first opportunity to delight and engage borrowers with your brand, capture and share information, and promote the services you provide. For a typicalRead More

Innovation & Company Culture – More Than Just Talk

Innovation & Company Culture – More Than Just Talk

There is a lot of buzz around the word innovation, and why it is important to a business and its company culture. I recently came across an article written by Andre Durand titled, “4 Tips to Foster a Company Culture of Innovation,” and whereas I agree with all of his insightfulRead More

Preparing Risk Tools for 2020 ― Today

Preparing Risk Tools for 2020 ― Today

In auto finance, the concept of risk management boils down to creating profitable ― not perfect ― predictions about whether consumers will repay their car loans. With data availability increasing at a rapid pace, and advancements in decisioning and pricing algorithms constantly being developed, lenders must prepare for a highlyRead More

The Building Blocks of Corporate Risk Management

The Building Blocks of Corporate Risk Management

While underwriting is known for the “three Cs” ― credit, capacity, and collateral ― corporate risk can best be boiled down to the “three Ps”: people, process, and programs. That was the message from Mark Humphrey, Tidalwave Finance Corp.’s chief credit officer, in a session at the Auto Finance RiskRead More

Bolstering Reputational Risk Protocol ― Before the Need Arises

Bolstering Reputational Risk Protocol ― Before the Need Arises

The Consumer Financial Protection Bureau, the Department of Justice, and other regulators have made it clear in recent weeks that they will continue to crack down on auto lending operations. While only a handful of financiers have been cited for alleged violations so far, plenty of other companies have acknowledgedRead More

A Wealth of Data Is Key to Improving Risk Management

A Wealth of Data Is Key to Improving Risk Management

What’s needed to stay innovative in auto finance risk management today? Data, data, and more data, according to Preston Cecil, vice president of risk management at Innovate Auto Finance in Fort Worth, Texas. Cecil spoke about how to not only use existing data, but also find new data, during yesterday’s CenterRead More