One of my current projects at work is the creation of a new system to increase efficiency in the overdraft department by automating parts of the chargeoff and recovery system. Chargeoffs are when we give up on people repaying their account balances. Recoveries are when they surprise us by actually sending us money.
There's a fair amount of retyping and manual evaluation that I hope to reduce. In addition, our audit department has notified the operations group that we can reduce our loss accumulation if we code unrecovered fees separately from hard losses. This is accounting magic as far as I'm concerned, but it will be challenging to implement.
Posted to Work Life at January 12, 2005 8:01 PM