Frank Fiorille heads a team of approximately 250 risk management stewards at payroll, HR and benefits service giant Paychex. Prior to his arrival, the appetite for risk models at Paychex was low, and the company mostly viewed its operations through top-line revenue returns.
Fiorille assembled a small modeling team within the risk group to delve into the B2B database, from which 9 million people are paid every other week. The store contains 560,000 small businesses that “transact very similar to consumers,” he says. From that, models have rolled out predictive capabilities for collections, credit risk, operations and “hidden jewels” of insight for the company.
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