Walter Steele is the Chief Operating Officer of First Financial Resources Inc. He is a Six Sigma Black Belt with over 25 years collection experience centered on receivables management and portfolio optimization. Throughout his highly successful career Walter has held key leadership positions with companies such as F.H. Cann and Associates Inc. (FHC), the publicly traded First Marblehead Corporation (FMD), JP Morgan Chase (JPM), and BankOne.
What’s becoming more and more clear is that the price of a college education is showing no signs of decreasing. Students are finding themselves in untenable tension between needing a degree for a well-paying career, but then finding that they need that well-paying career solely to pay for the education they needed in the first place.
Not that a basket of school supplies isn’t expensive; but with university tuition poised to become the next Terrible Bubble, students and parents have a heavy financial burden to bear.
Could the next evolutionary replacement of the Federal Family Education Loan Program (FFELP) be the catalyst that helps jumpstart the recovery of the U.S. economy?
As an industry we are extremely goal orientated and deadline driven. This directive permeates to the front lines of the collection floor. That said, if collectors take a too aggressive approach, it may result in a significant increase in these consumers voicing dissatisfaction with their creditors (our clients) and us.
Does your collection operation utilize Six Sigma tools? Why or why not? Share your experiences.
Keep the following five points in mind when looking to fill roles in your company. Not only will they help you find top-producing collector talent, but you’ll also find candidates that align with your corporate culture.