Achieving Excellence in Portfolio andReceivables Management Since 1999 Higher Education Debt Collections                  ...
Organizational BackgroundIncorporated in 1999Based in North Andover, MassachusettsWoman owned small businessExecutive mana...
Who We Are                          Senior Leadership BiosFrank Cann, Jr., President/CEOFrank Cann co-founded F. H. Cann &...
Who We Are                              Senior Leadership BiosWalter C. Steele, Chief Operating OfficerWalter Steele joine...
Who We Are                             Senior Leadership BiosJason Trolian, Chief Information OfficerJason Trolian joined ...
Who We Are                               Senior Leadership BiosYvonne Harris, Senior Vice President for BusinessDevelopmen...
Portfolio Management ServicesPre-Collect ServicesDefault PreventionRecoveryCollection Litigation NetworkOn Site Collection...
Competency and ExperienceFHC Senior Management possesses over 125 years ofcombined 1st and 3rd party debt collection exper...
Competency and ExperienceHigher Education DebtAt FHC, we take pride in partnering with colleges, universities, banking ins...
Competency and Experience               Higher Education Debt ExperienceFHC was founded in 1999 on the core competency of ...
Competency and Experience                 Higher Education Debt ExperiencePrior to joining FHC as Chief Operating Officer,...
Competency and Experience                Higher Education Debt ExperiencePrior to joining FHC as our Chief Information Off...
Competency and Experience                Higher Education Debt Experience          Historical and Current Student Loan Inv...
Our Unique ApproachFHC is unique in the collection industry in that our executivemanagement and operations staff employ an...
FHC and Six SigmaF.H. Cann and Associates take great pride in being a driving force behind the nextevolutionary step in th...
Performance OptimizationFHC Utilizes a Portfolio Management Approach Founded in SixSigma.Six Sigma is a globally recognize...
Performance OptimizationFor every client’s portfolio FHC manages, we perform the followingperformance optimization process...
Performance OptimizationIn addition to the statistical analysis tools mentioned above FHCalso utilizes a Key Performance I...
FHC’s Bilingual DiversityThe composition of our workforce demographicencompasses many minorities, 56% speaking a secondlan...
FHC’s Bilingual DiversityMajor ancestry groups reported by the LawrenceChamber of Commerce include:. Dominican Republic - ...
Information TechnologyLeading edge technology enables FHC to:– Create a completely custom collections workflow tailored no...
Our Network              22
Collection Platform & Dialing            SystemFHC utilizes the Artiva collection system platform from Ontario Systems.Art...
Compliance and SecurityFHC is committed to protecting confidential informationentrusted to us by our clients.In today’s bu...
Business Continuance and        Disaster Recovery       Now more than ever where companies rely on strategic partnerships ...
F. H. Cann & AssociatesWe want to thank you for taking the time to learn moreabout FHC. Please feel free to contact us per...
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F H Cann & Associates and Higher Ed

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F. H. Cann & Associates (FHC) services many Higher Ed clients such as American Student Assistance and numerous colleges and universities. FHC also maintains a subcontract with Delta Management Services on the Department of Education PCA Contract

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F H Cann & Associates and Higher Ed

  1. 1. Achieving Excellence in Portfolio andReceivables Management Since 1999 Higher Education Debt Collections 1
  2. 2. Organizational BackgroundIncorporated in 1999Based in North Andover, MassachusettsWoman owned small businessExecutive management staff possesses over 125 years cumulativeexperience in professional debt collectionsSpecializing in both Pre and Post Default student loan collectionsCurrent portfolios under our management consist of Primary,Secondary, as well as Tertiary placements.We also encourage you to visit our website: www.FHCann.comwhere you will find a wealth of additional information on ourorganization as well as actual client testimonials 2
  3. 3. Who We Are Senior Leadership BiosFrank Cann, Jr., President/CEOFrank Cann co-founded F. H. Cann & Associates in 1999. Frank has more than 20years experience in the collection industry and is committed to providing our clientswith top-notch recoveries while being responsive to their client service needs. AsPresident/CEO, Frank is committed to maintaining low employee turnover by treatingour employees with respect and rewarding them with a competitive compensationprogram. Frank also takes great pride in investing in the latest technologicaladvances which impact the collection industry and thus recoveries for ourclients. Above all, Frank is driven by his respect for our clients and employees anddemands hard work and dedication to meet these ideals. Frank is well known andhighly respected throughout the industry due to his long record of accomplishmentsand achievement on behalf of clients. Frank donates his time to numerous industryand charitable organizations and he serves as a member of the Debt ManagementCommittee for the National Council of Higher Education Loan Program (NCHELP)and an associate member of the Commercial Law League of America (CLLA). 3
  4. 4. Who We Are Senior Leadership BiosWalter C. Steele, Chief Operating OfficerWalter Steele joined FHC as Chief Operating Officer in November 2009. As COO Walter bringsdecades of Recovery, Default Prevention, Portfolio Management, and Optimization experience tothe organization. By extension, that vast knowledge base is directly translated into the collectionefforts dedicated to the performance of every strategic business partner’s financial portfolio.Walter possesses a long proven track record of highly successful performance in all aspects ofthe credit and collection industry. He is a Certified Black Belt in Six Sigma process improvementcoupled with more than 23 years experience ranging in Financial Services, Energy, and Retailcollection sectors.Walter previously served as Director of Collections and Default Prevention at the publicly tradedFirst Marblehead Corporation (FMD). In his role at First Marblehead, Walter was directlyresponsible for the Default Prevention performance of significant Private Student Loan portfolioson behalf of many of our nation’s largest Private Student Loan Trusts as well as some of thelargest and most prestigious world wide banks. In this role Walter additionally served as amember of The Portfolio Management Senior Leadership Group responsible for developingstrategy and implementation of business development initiatives.Prior to Walter’s time with First Marblehead, he served as the New England Region CollectionsManager for JP Morgan Chase Bank’s Custom Finance Division. In this role he directlycontributed to the first New England region footprint of BankOne, which subsequently became JPMorgan Chase Bank through merger. At BankOne and JP Morgan Chase Walter directlymanaged the New England Region Custom Finance Collections Division as well as served as amember of the Senior Leadership team for the New England Region Custom Finance Division. 4
  5. 5. Who We Are Senior Leadership BiosJason Trolian, Chief Information OfficerJason Trolian joined FHC as Chief Information Officer in January 2010. For almost 20 years Jasonhas quietly been the technical brain trust operating behind the scenes at some of the largestplayers in the ARM industry, designing and developing some of the most complex andcomprehensive collection workflows for clients that consisted of many of the worlds largest andmost prestigious financial organizations. Jason is recognized as being a member of a very smalland elite class of IT Senior Leadership professionals who not only thoroughly comprehend theunique nuances of the ARM industry, but is also a recognized leader in the forefront of cuttingedge ARM technology implementation. Jason possesses an exceptional blend of operational andIT experience and has spent over a decade in Senior Leadership on the operations side of theARM industry prior to amassing close to another decade of IT Senior Leadership experience. 5
  6. 6. Who We Are Senior Leadership BiosYvonne Harris, Senior Vice President for BusinessDevelopmentYvonne D. Harris serves as Senior Vice President for Business Development where she worksextensively with a wide range of clients. Yvonne’s background as an accounts receivable expertbegan in 1982 as an Operations Manager for the Credit Bureau of Central Massachusetts whereshe oversaw operations throughout New England. From there, Yvonne began a successful careeras a sales representative holding senior level management positions where she was responsiblefor forging and maintaining client relationships. Yvonne is continuously invited to speak and shareher vast knowledge and expertise at numerous conferences regarding various facets of theaccounts receivable industry. She has extensive experience working with financial institutions,guaranty agencies, as well as major colleges and universities. Yvonne is an active member of theNew England Adjustment Managers Association (N.E.A.M.A.) and the Massachusetts Associationof Student Financial Aid Administrators (M.A.S.F.A.A.). Yvonne’s unwavering commitment toclient satisfaction ensures that all of our clients’ needs and expectations are not only reached, butsurpassed. 6
  7. 7. Portfolio Management ServicesPre-Collect ServicesDefault PreventionRecoveryCollection Litigation NetworkOn Site Collection Best Practices ConsultingSkip TracingAsset SearchesCredit Report & Servicing with prior authorization 7
  8. 8. Competency and ExperienceFHC Senior Management possesses over 125 years ofcombined 1st and 3rd party debt collection experienceLeveraging leading-edge technology, proprietaryanalytics, and only recruiting the right people whoemploy industry best practices as the norm is what setsus apartThe benefits to your organization?– Unparalleled performance that directly impacts your bottom line– Seamless, on-time implementation– Dedicated specialized staff who only work your portfolio– Superior skip tracing performance– Compliance with all state and federal regulations– Knowledgeable and professional treatment of your customers– High levels of customer satisfaction 8
  9. 9. Competency and ExperienceHigher Education DebtAt FHC, we take pride in partnering with colleges, universities, banking institutions, aswell as guaranty agencies in the combined effort to mitigate the exposure to highereducation related debt. Our highly trained staff understands that education borrowersrequire a different level of servicing and interaction than traditional debtors.By selecting FHC as your education collection specialists, you will benefit by:Receiving rapid, high recoveries that will keep your institution’s default rates lowAssistance in dealing with students by helping them to understand and prepare the necessary paperwork foreligible deferments and cancellations, rehabilitations and consolidations.Timely and accurate due diligence reports.The recovery of outstanding housing and tuition balances which will help your institution control costs and stem theflow of lost revenueThe resources of our highly trained specialists which in turn will allow you to focus your time and resources onthose that are currently enrolled.In addition, FHC provides the following services:Priority RehabilitationCohort ReductionFFELP CollectionsDefault AversionFDSLP & FFELP Loan ConsolidationStudent loan billing 9
  10. 10. Competency and Experience Higher Education Debt ExperienceFHC was founded in 1999 on the core competency of Higher Education collections. Prior tofounding FHC, our President and CEO, Frank Cann has been the General Manager andOperations Manager of several large student loan centric collection agencies. In 1999 Frank andSheri Cann founded FHC with Higher Education debt collection in mind . For the past 11 yearssince its inception, FHC has excelled in the collection of both Federal and Private student loandebt. FHC actively recruits top industry talent as its Executive Leadership Team all of whichpossess extensive experience and documented success in the student loan arena.Though over the years FHC has expanded its expertise and success into the Banking andFinancial Services industries, its core competency still and proudly remains in the student loanmarketplace.On the following slides are a sample of our Senior Leadership’s extensive experience within theStudent Loan vertical. 10
  11. 11. Competency and Experience Higher Education Debt ExperiencePrior to joining FHC as Chief Operating Officer, Walter Steele served many years as Director of Collectionsand Default Prevention at the publicly traded First Marblehead Corporation (FMD). In his role at FirstMarblehead, Walter was directly responsible for the Default Prevention and Recovery performance of an$18+ Billion Dollar loan portfolio on behalf of The Education Resource Institute (TERI) as well as significantPrivate Student Loan portfolios on behalf of many of our nation’s largest Private Student Loan Trusts such asthe National Collegiate Student Loan Trust (NCSLT). These portfolios consisted of originations from most ofthe largest and most prestigious world wide banks, including but not limited to: JP Morgan Chase, Bank ofAmerica, Key Bank, and Wachovia Bank and Trust, just to name a few. Additionally under his authority werethe performance of 20 outside collection agencies who relied on his strategic direction and analysis tooptimize the portfolio management and liquidation of assigned student loan portfolios. In this role Walter alsoserved as a member of The Portfolio Management Senior Leadership Group responsible for developingstrategy and implementation of business development initiatives.Additionally, Walter is a certified Black Belt in the Six Sigma process improvement and developmentmethodology. Several notable Six Sigma initiatives include a Default Prevention process improvement onbehalf of TERI that resulted in a $20 million cost aversion for defaults in FY07 as well as a complete redesignof their Rehabilitation Loan Program that resulted in a dramatic improvement of the NET default rate.Lastly, in his capacity at First Marblehead Walter and his staff worked extremely closely on a daily basis with17 different Student Loan Service companies including AES/PHEAA, Nelnet, and SunTrust just to name afew, and are infinitely familiar with not only their personnel, but also the internal processes and inner workingsof these national organizations. 11
  12. 12. Competency and Experience Higher Education Debt ExperiencePrior to joining FHC as our Chief Information Officer Jason Trolian spent many years at The CCS Companies,Inc and several other large student loan centric national collection agencies where he oversaw the collectionefforts of significant student loan portfolios on behalf of major guarantor agencies including The EducationResource Institute (TERI) as well as many worldwide banking institutions.Yvonne Harris FHC’s Senior Vice President of Business Development has spent the majority of her 20 + yearcareer working in the student loan vertical and as such is continuously invited to speak and share her vastknowledge and expertise at numerous conferences regarding various facets of the accounts receivableindustry. She has extensive experience working with financial institutions, guaranty agencies, as well asmajor colleges and universities. Yvonne is an active member of the New England Adjustment ManagersAssociation (N.E.A.M.A.) and the Massachusetts Association of Student Financial Aid Administrators(M.A.S.F.A.A.). Yvonne’s unwavering commitment to client satisfaction ensures that all of our clients’ needsand expectations are not only reached, but surpassed.As an organization FHC are proud and active members of the following trade organizations:•National Council of Higher Education Loan Providers www.nchelp.org•Coalition of Higher Education Assistance Organizations www.coheao.org•Massachusetts Association of Student Financial Aid Administrators www.masfaa.org•National Association of College and University Bursars Officers www.nacubo.org•ACA International www.acainternational.org•New England Adjustment Managers Association www.neama.org•Commercial Law League of America www.clla.org•Society for Human Resource Management www.shrm.org•Merrimack Valley Chamber of Commerce www.merrimackvalleychamber.com•Greater Merrimack Valley Human Resources Association www.greatermerrimackvalleyhr.com•International Association of Commercial Collectors www.commercialcollector.com 12
  13. 13. Competency and Experience Higher Education Debt Experience Historical and Current Student Loan InventoriesAmerican Student Assistance •As of 2/22/2011 American Student Assistance has assigned 86796 accounts totaling $1,169,048,081.30 of which we have collected 154,280 payments resulting in recoveries of $211,403,973.10. We currently have and open and active inventory of 19730 accounts totaling $370,734,568.34.US Department of Education •In late 2010 FHC was awarded a sub contract working for the US Department of Education. In the last ranking released Dec 3rd 2010, FHC and their partner Delta Management Associates were ranked 3rd on the small business contract.Colleges and Universities •As of 2/22/2011 our 12 college and university clients have assigned 2579 accounts totaling $6,014,215.67 of which we have collected 3921 payments resulting in recoveries of $1,430,171.25 or a 23.78% blended liquidation rate.We at FHC would be proud to provide references and contacts attesting to our performance andqualifications upon request. 13
  14. 14. Our Unique ApproachFHC is unique in the collection industry in that our executivemanagement and operations staff employ an approach founded inthe Six Sigma process development and improvement methodology.We utilize Six Sigma tools and techniques when developing the custom collectionprocess for each client whether it is pre-collect, default prevention, or post defaultcollection portfolios. By employing these advanced tools we at FHC have the ability tooptimize the custom portfolio management of each of our client’s distinctive portfolios,and more importantly, each individual line of business at each client, with the ultimategoal of driving optimal performance.FHC operates in an environment of consistent process improvement by professionallyanalyzing current and historical key performance data centric to each client. By doingso allows us to quickly formulate operational changes in real time based on fact andstatistical analysis. This strategic advantage enables us to dedicate a team ofprofessionals well versed on you and your business, as well as affording them thegreatest opportunity for success which directly correlates to your organization’sbottom line. 14
  15. 15. FHC and Six SigmaF.H. Cann and Associates take great pride in being a driving force behind the nextevolutionary step in the ARM industry through its use of Six Sigma. What separatesFHC from the competition is our expert ability to provide tremendous value to a clientabove and beyond standard portfolio management services. FHC creates strategicpartnerships with our clients that truly optimize the performance of their individualportfolios. These partnerships allow our clients to significantly benefit in both theirinternal collection practices as well as their external efforts at the agency level,ensuring maximum recoveries and statistically significant reductions in both gross andnet defaults.We at FHC realize the competitive nature of this industry and that financial institutions have awide range of choices for their collection agency needs. It is for this reason that we at FHC gaugeour success based on our ability to consistently outperform the high standards and expectations ofour clients and not simply whether we outperform our competition. Our goal is to be the agencythat resets the standard for our client’s internal measurement system. FHC consistently achievesthe highest levels of quality service, communication, and performance for our clients. With over acentury of combined collection experience in FHC’s management team, we welcome theopportunity to tailor a customized collection process to meet your organization’s specific needs. 15
  16. 16. Performance OptimizationFHC Utilizes a Portfolio Management Approach Founded in SixSigma.Six Sigma is a globally recognized best practice approach to eitherprocess improvement or process design that is employed to trulyoptimize a process by identifying and removing defects, failuremodes, or errors from the process.DMAIC or DMADV Process Methodology Structure DMAIC = Define, Measure, Analyze, Improve, and Control (For an existing process) DMADV = Define, Measure, Analyze, Develop, and Verify (For optimizing the design of a new process) 16
  17. 17. Performance OptimizationFor every client’s portfolio FHC manages, we perform the followingperformance optimization processes to ensure an environment ofconstant process improvement. Client Monthly Portfolio Management Performance Review Internal audit and QA of portfolio’s accounts to ensure best practices are consistently being followed from a due diligence perspective. Regular call recording analysis of all collection specialists where their calls are scored in five categories and 38 different attributes. Performance tracking using control charts that employ upper and lower control limits (3 standard deviations from the mean) to ensure the process is performing within control (as designed) and that the variability within the process is at a minimum resulting in a process in which performance can ultimately be predicted based on data and fact. 17
  18. 18. Performance OptimizationIn addition to the statistical analysis tools mentioned above FHCalso utilizes a Key Performance Indicator (KPI) dashboard atboth the portfolio and individual collector levels. The followingattributes are tracked and monitored within the dashboard: Monthly goal(s) Current totals through end of previous day (current dollars collected (or cured), % of goal achieved, and working days remaining. Performance flags indicating “ahead” or “behind” checkpoints to provide real time actionable controls that provide the ability to be proactive to any emerging negative trends Actual daily quotas based on working days remaining that are needed to achieve (or exceed) monthly goal(s). These quotas are automatically recalculated daily once the most updated data is loaded into the dashboard. Portfolio and collector daily productivity metrics including total calls made, contact ratios, and conversion ratios. 18
  19. 19. FHC’s Bilingual DiversityThe composition of our workforce demographicencompasses many minorities, 56% speaking a secondlanguage. We are fortunate that not just our AffirmativeAction Plan provides for equal employment opportunity,but our location as well. The majority of our employeesreside in the bordering town of Lawrence. 19
  20. 20. FHC’s Bilingual DiversityMajor ancestry groups reported by the LawrenceChamber of Commerce include:. Dominican Republic - 22%· Puerto Rican - 22%· Other Hispanic or Latino - 12%· Irish - 7%· Italian - 7%· French (except Basque) - 5%· Black or African American - 5%· French Canadian - 5%· English - 3%· Arab - 2%· German - 2%· Lebanese – 2% 20
  21. 21. Information TechnologyLeading edge technology enables FHC to:– Create a completely custom collections workflow tailored not only for each individual client, but each individual business line of that client.– Facilitate safe transmission of data to and from our clients as well as the ability to lockdown that data in a completely secure environment.– Provide our clients with a seamless and structured implementation and testing program– Provide informative custom reporting to better manage receivables, project recoveries , as well as trends– A collection database that provides superior functionality along with ease of use for our employees– Designated budgeting for technology improvements 21
  22. 22. Our Network 22
  23. 23. Collection Platform & Dialing SystemFHC utilizes the Artiva collection system platform from Ontario Systems.Artiva is one of the most robust and customizable systems in the industry.This system comes fully loaded with an integrated dialer and IVR/VRU.Artiva is specifically designed to allow for custom and complex workflowsunique to not only each client, but unique to each individual business line ofeach client.This robust system enables FHC to: – Customize unique dialer campaigns and collection workflows tailored to each distinct business line of a client. – Create custom workflows based on segmentation and complex scoring models. If there is a data attribute(s) that is meaningful to our clients we have the ability to create a custom collection approach geared to optimizing the collection efforts to that attribute(s). – Provide as detailed a level of reporting as is meaningful to our client partners. Artiva is integrated with Crystal reporting. Similar to the workflows mentioned above, if there is a data field(s) you would like reporting on, we can provide it. 23
  24. 24. Compliance and SecurityFHC is committed to protecting confidential informationentrusted to us by our clients.In today’s business market where companies rely on partnerships andagency relationships for services that include the electronic exchange ofpersonal information, maintaining the security of NPPI in an error-freeenvironment is of the highest priority at FHC. Because FHC obtains NPPIdata such as; name, address, date of birth, social security number,residential and employment telephone numbers, driver’s license number,references, e-mail addresses and financial information, we maintain strictsafeguards to ensure compliance with the Gramm-Leach-Bliley Act. FHCwill never share or disclose NPPI, and all employees are also required toadhere to 209 CMR 18.00 (conduct of the Business of Collection Agencies),940 CMR (Debt Collection Regulations), and the Fair Debt CollectionPractices Act, as well as all other applicable federal and state laws. Thisensures that the highest level of professionalism and confidentiality ismaintained. 24
  25. 25. Business Continuance and Disaster Recovery Now more than ever where companies rely on strategic partnerships andagency relationships for services that require consistency in the face of a disaster,natural or otherwise, a proven and reliable continuity of operations plan must beconsidered a mainstream service. At FHC ensuring a proven continuity of operationsplan is in place is considered to be a canon of the services we provide to our clients. FHC holds an agreement with a separate business center in the event of adisaster to ensure business continuity. Our tested, proven and efficient disasterrecovery and continuity of operations plan provides for total recovery resulting fromeither short-term outages or longer-term outages that require either the retrieval ofsystem and data backup media from our secured offsite storage facility or restorationof the technology environment within 48 hours. 25
  26. 26. F. H. Cann & AssociatesWe want to thank you for taking the time to learn moreabout FHC. Please feel free to contact us personallywith any questions which may arise.Frank H. Cann Walter C. SteelePresident/CEO Chief Operating OfficerDirect Line 978-682-3954 Direct Line 978-722-0035 26

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