Saturday, September 22, 2007

Prosper VP To Toughen Up On Late Payments?

I completely missed this. Fortunately, Lending Stats didn't. From their September e-mail only newsletter:

Prosper Tackles Collections

Prosper is pleased to introduce our new VP of Operations, Doug Fuller. Doug brings 25 years of experience to the Prosper team and will be instrumental in helping our team crack down on delinquencies and ramp up our collections efforts. We are excited to have Doug on board; he will help us to continually make Prosper a safer and more reliable marketplace for all users. Doug is a huge asset to the Prosper team and we look forward to updating you on his systemic improvements in Prosper operations.

Some enterprising Googlers on the forums found a possible candidate and a possible resume. IF (and that is a big if at the moment) this is the right guy, he has some interesting default handling credentials. I'm cautiously optimistic.

First Select Corporation/Providian Financial, 1999 to 2002
Senior Vice President FSC – Corporate Analytics & Process Management
  • Overall responsibility for the development and refinement of First Select's collections strategy as well as the processes and infrastructure necessary to support that strategy.
  • Development, implementation and monitoring of decision models.
  • Development team for Recovery Data Warehouse.
  • Development and implementation of new Recovery Management System.
  • Led joint development process with Ontario Systems to create “next generation” collections and recovery system. Included automated workflow, embedded decision rules, integrated process test and evaluation capabilities, and self-documentation of account history. All committed dates met or exceeded. 1.3 Million accounts transferred with no loss of production time. First week productivity improvement of 37% for outbound phone reps.
  • Design and implementation of Phone Channel Call Prioritization and scheduling system. Results in a 3x increase in “Promises to Pay” per outbound dialer hour. At the same time, resulted in a 30% reduction in outbound calls placed.
  • Development of Portfolio Pricing model and methodology as well as “Process Yield Model” to forecast and monitor account movement and revenue production through process.
  • Design and implementation of Recovery Data Warehouse. Received assignment after previous attempt costing more than $2MM and 24 months effort was declared a failure. Prototype live in less than 10 weeks. Production Model live three months later. All committed dates and budgets met or improved.

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