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iARM Webinar - Building a World Class Compliance Management System on a Shoe String Budget
A growing trend in CFPB compliance for small- and medium-sized collection agencies and debt buyers is to retain a third party with the experience, skills and infrastructure to help them develop, support and drive their in house compliance management system. You’ve heard the expression, “it takes a village…” -- this could not be more apropos when discussing the collection industry. Adding FTEs to drive your compliance program, managing complaints, overseeing service providers, writing policies and procedures, managing litigation, and developing role-based compliance training can be a daunting set of tasks. They can be a significant set of expenses for even a Larger Market Participant. Fortunately, a new model is emerging, and it comes straight from the CFPB examination manual.
By retaining a third party compliance services provider, agencies and debt buyers can maximize the dollars and time required to build a world class compliance management system on a limited budget. It’s the new-age model for compliance, and makes it possible for agency owners and governing boards to advance their compliance program exponentially while reducing their overall compliance costs. This seminar is a must for organizations with fewer than 175 employees and will be informative for companies of all sizes. Join Ontario Systems’ Chief Compliance Officer, Rozanne Andersen as she leads a panel discussion about the reasons why so many agencies are hiring third parties to support their compliance management system and their need to reduce compliance risks and costs.