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Centres of Excellence

To strengthen our strategy of operational efficiency, Hoist Finance has created three Centres of Excellence (CoE). One for unsecured assets, one for secured assets and one for performing assets (descriptions of the different asset classes can be found here). The purpose of these three CoE's is to ensure that the company harmonises and standardises processes across markets and share best practices in an efficient way.

Unsecured Centre of Excellence

The unsecured CoE was formed in early 2019 and includes a team that focuses on implementing transformational change within the unsecured asset class, as well a Business Insights team that supports all asset classes. 

The unsecured CoE is divided into four key areas: 

Business Insights focuses on providing analytics and insight, delivering automated and aligned reporting and the use of data science to drive collections. 

Transformational Change are a group of Operations experts who assist the local country teams in implementing some of our larger initiatives such as nearshoring, digital implementations and workflow optimisation. They also act as a liaison point between CoE and local teams when implementing items such as propensity models from the Data Science team. 

Collections Strategy is driving the implementation of standard and harmonised collections strategies, which is somewhat regulation dependent. These will all eventually be delivered through the same centralised system, and so this area works very closely not only with local strategy teams but also with our central IT function who are tasked with delivery of the required technology.

Operations Effectiveness is focusing on areas such as Quality Assurance, Complaints Handling, Operations Training and Colleague Development.  Hence, they work closely with Hoist Finance Academy and People teams. 

During 2019, we have focused on building strong foundations for future change and improvements, as well as delivering on short term initiatives with already proven cost-savings. Some of these include customer predictive models, extensive digital analytical support and creating a community for the Heads of Operation accross all markets.

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Secured Centre of Excellence

The secured CoE consists of a multi-jurisdictional team of professionals, who are focusing on optimising our secured operations across markets and the value chain.

The Secured CoE is structured into three key areas: 

The Investment Strategy area has a dual responsibility. Firstly, to set the direction in terms of capital allocation across markets and sub-asset classes, based on market opportunities, macro trends, and concentration risk management. Secondly, to establish best in class practices for the underwriting of secured portfolio (common asset underwriting framework, implementation of a due diligence software, and secured portfolio modelling).

The Operations & Portfolio Management area focuses on developing a scalable and integrated operating model, delivering economies of scale and providing a blueprint for swift new market entries. A particular attention is given to People Capabilities (attraction, retention and training of top performers), Information Systems Upgrades, Customer Journeys and Reporting & Analytics.

The Real Estate Management area is designed to inform the decision making during defensive auctions as well as manage the pool of Real Estate Owned units that have been on-boarded.

During 2019, the teams have focused on building strong foundations for future change and improvements, as well as delivering on short term initiatives which deliver more immediate revenue and cost savings. 

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Performing Centre of Excellence

The Performing CoE was created in 2019, building upon the foundations of the Polish mortgage platform acquired by Hoist Finance in 2018. The background is that we seek to increase our investments in performing loans and also maximise the value of our credit market license.

The Performing CoE is structured into three key areas:

The Operational Excellence area is wide-ranging and covers the entire performing loan lifecycle, from day-to-day customer interactions and correspondence to performance monitoring, credit approvals and an arrears management process that benefits from Hoist Finance existing expertise in non-performing loans. In line with One Hoist Finance, processes are aligned as much as possible between countries to drive efficiencies and avoid duplication.

The Data & IFRS9 Reporting Infrastructure workstream ensures that we are able to manage our portfolios’ performance actively and in a manner which is compliant with all relevant financial regulations, including making provisions for expected credit losses. Financial reporting and capital requirements are monitored together with our financial experts across all markets.

As Performing loans remain a relatively new asset class for Hoist Finance, the Investment Strategy workstream ensures that we are making the right investments to support the growth of our business, including our move towards fully-internalised servicing capabilities. As the Performing CoE drives improvement in our operations, complemented by our competitive cost of funds, we expect performing loans to remain a key target asset class for our business in the future.

By developing an infrastructure for performing loans management that is flexible and scalable, we create a holistic solution for the group that may be rolled out across all of our jurisdictions as acquisition opportunities become available.

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- Annual Report 2019 -
- Årsredovisning 2019 -