Frequently Asked Questions
What added value can you offer to our
business?
At Capital Management Services, we believe that the leadership
team's proven track record, our collection team, and technological
investments represent our greatest strengths. All of the daily operational
decisions and strategies are developed and executed by executive
management. Our goals are simple: provide tier-best results in every
client portfolio, driven by unsurpassed servicing. The leadership
team of Capital Management Services has a combined collection industry
experience of 60 years, has led over 3000 collection specialists,
and has directed over $3.0 Billion dollars in recoveries owed to
clients. Our collection staff has an average of 4.7 years of industry
experience. The Capital Management operational team comprises of
specialists in multiple due stages, products, and portfolios. Our
world-class collection software, state of the art dialers, and intelligent
modeling provide for the most complete outsourcing package a lender
could expect. To ensure consistent execution, Capital Management
has developed a senior management team highly experienced in the
collection industry, internal conditional measures and tracking,
and a proven daily productivity operational process which leave
nothing to chance.
Describe your collector training program
Classroom training covers multiple critical elements. FDCPA knowledge
and compliance is a condition of employment. Systems training includes
file navigation, power and predictive dialing, and desktop skip
tools. Finally, collection skill development establishes the associates'
best fit within the company. For new hires with experience, training
completes in one week. For classrooms with no experience, training
spans four (4) weeks.
What portion of your collection strategies and execution
takes place during prime time, peak contact hours?
Operational hours comprise 75-80% Prime Time activity, and increases
during client and company closeouts.
Maintaining privacy of customer records
Capital Management Services has taken the security components
critical to many clients and instilled these requirements, at many
levels, as business as usual. Data control, physical security, and
monitoring improvements are elements that foster successful business
relationships. Multi level access badges and system authentication
and password levels ensure personnel have facility and data access
specific to job function. Security entrance enhancements, and building
perimeter alarms limit intruder risk. Multiple video camera surveillance
and recording provides a safety net to intruder or security breaches.
Remittal processing has been isolated within a secure area, and
third party payment reconciliation utilizing fire retardant safes
limit financial risk. Also, for data transfer, CMSI currently utilizes
PGP encryption with two-factor authentication through a VPN tunnel.
Cisco firewalls keep our bulletproof AS400 operating system
clean. Capital Management Services employs Windows 128 bit encryption,
ZIP encryption, PGP encryption and can exchange data via FTP transfer as well.
Can your system be accessed remotely?
Capital Management Services uses Citrix Access Gateways to allow clients access
to a view-only application of their specific accounts remotely.
This is a fast, secure way to allow access to your outsourced portfolios.
The Citrix Access Gateway method requires Dual Authentication Sign-on. All user
names are a minimum of 6 characters, and all passwords are a minimum
of 8 characters that follow the same security requirements stated
in the Data Security section. The Citrix Access Gateway does not allow file
transfers of any kind (including administration log on).
Describe your handling and record keeping of complaints
or regulatory inquiries
Capital Management Services has a stringent policy regarding handling and
resolution of all potential situations or inquiries. With any request,
the account is suspended from collection efforts while the matter
is investigated. This process includes interviewing the collector,
reviewing phone and system reports, and verifying payment authorizations
when necessary. The inquiry is logged, tracked, and most importantly,
resolved. Disciplinary action, including termination, is taken when
needed.
How do you verify that all funds received daily are reconciled?
Capital Management Services has a system of checks and balances for payment
posting. When posting a payment, the account is reviewed for accurate
name, account number, and payment amounts. Name, address and payment
amounts are verified on other payment forms received. After all
daily payments are applied, a reconciliation report is generated
and reviewed for dollar amounts versus deposits. Reconciliation
is done real time with each batch deposit entered, daily at the
client and company levels, weekly at client and company levels,
and monthly for the same.
Do you have a formal disaster plan?
Capital Management Services has a detailed disaster recovery
plan, and a fully functional disaster site.
