evaluating suppliers of information for credit risk management
TRANSCRIPT
Evaluating information suppliers for credit and the
benefits of implementing change
John Hughes: Credit Risk ConsultantIntelligent Credit
Credit Risk Manager Dublin, Republic of Ireland Pfizer Full responsibility for managing the Credit Risk function for Pfizer Global Financial Solution (GFS) Europe as
part of the GFS Credit Risk Centre of Excellence organization
A Little bit about me
All issues around credit management and reporting Leadership around credit risk Operational management Tactical objectives Policy Develop and manage metrics Continuous improvement Technical expertise and solid financial background Now head up Intelligent Credit
Essentially
"Customer satisfaction is worthless. Customer LOYALTY is priceless." ~ Jeffrey Gitomer
The value of loyalty in business
Loyalty or lethargy?
To add maximum value credit professionals must learn to challenge the Status Quo!
Be clear what you want Meet with a number of representatives to explain
what you want Thoroughly test quality of solutions “You gotta haggle!” Ensure team buy in Ensure thorough training Prepare the case for change
Choosing information providers
Quality of data:-◦ Comprehensive◦ Standardised reports
Flexibility around own data and integration Consultative approach Best critical X score Value for money
Why we chose BvD
Pfizer industry-specific risk programme built including scorecards, alerts, templates, benchmarks, trend analysis
Better management of information. Typing time and priority setting vastly improved Customer service-knowledge, advice, flexibility
Benefits from switch