Kim Schmidt Download CV

Kim Schmidt, of CreditExpertWitness.com, has extensive knowledge in credit reporting, credit scoring and consumer finance matters.

Kim began in the consumer credit industry in 1988 and spent 9 years at TRW Credit Services, Experian Inc. (one of the three recognized national credit reporting agencies) and Fair Isaac Inc, developer of the FICO® score. In addition to her credit background, she has held positions at Bank of America (formerly Security Pacific) and the 4th largest residential real estate company in the US, Keller Williams.

Kim's significant relevant experience in the credit industry including time spent performing the following tasks at TRW, Experian, Fair Isaac, Bank of America and Keller Williams:

• Several marketing positions at TRW, Experian and Fair Isaac which included marketing, product development, product management and direct to consumer (.com) roles. It was during this time that Kim gained experience with credit reporting procedures, credit data, how to read credit reports, credit scoring methodologies, consumer credit regulations, credit report dispute processes and fraud trends specific to identity theft.
• Played an integral role in creating requirements for credit and score products, and marketing products to commercial accounts (lenders) and directly to consumers. She also trained internal and external clients and customer service representatives on credit report, credit score and other .com product offerings.
• At TRW and Experian, her roles ranged from working directly with financial institutions and large retailers to creating products for sale to consumers. These roles allowed Kim to develop a strong understanding of the inner working of credit data and credit scores that are used by financial institutions to make credit and lending decisions, which are largely unknown by outsiders.
• At Fair Isaac Kim gained an "insider's understanding" of how credit scores are developed and analyzed. The methodology behind these scores help to influence the majority of credit decisions made in the US.
• At Experian Kim participated in the creation and rollout of the first consumer credit products available directly to consumers online. These products include credit monitoring and credit scores. This involved designing key elements of the credit tools and scores consumers can still see today. She educated and trained customer service staff on the inner workings of the score and report and how to address consumer issues.

Kim's significant product development resume also includes time spent performing the following:

• Developed product concept to alert clients of changes in consumer credit behavior, change in credit scores, new accounts, delinquencies, public record and inquiry changes which allowed clients to take 'pre-emptive' action.
• Was part of the team that determined layout and data fields for new credit and marketing database for business credit division.
• Created, developed and launched Experian's online direct-to-consumer credit offering. This included online access to credit reports, credit score tracking, education articles and dispute capabilities for one of the premier credit management services Credit Manager.
• Worked with internal legal dept to make sure that Fair Credit Reporting Act (FCRA) and other legal requirements were met as needed.
• Managed merging of Experian's online consumer site with ConsumerInfo.com's products (www.FreeCreditReport.com) when Experian bought Consumer Info Inc.
• Involved at the ground level designing key elements of the credit tools and scores consumers can still see today at www.CreditExpert.com and www.FreeCreditReport.com
• Worked with credit score dept to create 'Experian' proprietary score by analyzing credit factors, predictability, etc to compete with Fair Isaac score product.

Kim's significant training experience includes the following:

• Received extensive training on how 1st generation and next generation FICO scores were created, what components or factors affect the score and by what percentage. Learned how predictive/accurate scores are to actual behavior.
• Conducted training to Customer Service Representatives (CSR) that took live calls from consumers regarding their online credit reports, credit management products, and credit scores
• Created training materials and gave presentations to CSRs on correct procedures. Fielded 'difficult' questions from consumers and CSR management
• Presented product ideas to management in easy to understand terminology while articulating nuances of the product.
• Informed residential home buyers of lending process and guidelines and importance of credit behavior in getting approved for loans.
• Conducted formal and informal presentations to teach people about credit scores, what impacts their score, identity theft, credit report processes and dispute procedures.
• Frequently gave presentations and training on credit product capabilities, research results and more to all levels and backgrounds of individuals ranging from executives to consumers.