Overview
Our focus on compliance was molded from our founders’, Joe Taylor and Stamatis Ferarolis’ first-hand experience as recovery agency owners and operators. In early 1999, based on a request from Empire Fire & Marine Insurance Company and AEON Insurance Group, Joe Taylor began the development of a professional certification program for collateral recovery specialists that would be nationally accepted by the collateral recovery industry and would meet the strict criteria of Empire Fire & Marine.
Approximately 500 hours of extensive research went into the legal aspects of the program including both federal and state laws that affect the self-help repossession process. In late 1999, the CARS Program was “born” and submitted to Empire Fire & Marine, AEON, lenders, industry leaders, and to attorney, Bogden Rentea, one of the foremost legal authorities on the self-help repossession process.
The CARS training course lead to the formation of Recovery Industry Services Company, RISC, in 2009. Since then, RISC services has expanded to offer numerous continuing education courses, certifications for financial clients, support documentation for recovery agencies, vendor vetting and storage lot inspections.
Meet the Team
Stamatis Ferarolis
Founder & CEO
As the CEO, Stamatis leads the RISC team to identify opportunities in the collateral recovery industry that drive industry growth through education, professional certification and compliance training. As a graduate of the University of South Florida, Stamatis has led many successful business ventures in the automotive industry including the recovery agency, Asset Investigations and Recovery, Inc., where Stamatis’ commitment to third party compliance was born. His first-hand experience as a recovery agency owner and operator uncovered the need for professional certification. Since then, he has been focused on compliance in the collateral recovery industry by working closely with lenders, recovery agents, national forwarders and the CFPB to identify services that will unify the industry through consistency and efficiency.
Holly Balogh
President and COO
As President and COO at RISC, Holly manages the internal and external operations of the business, and leads the team while working within all areas of compliance. She manages the optimization of RISC’s education, vendor vetting and lot inspection services and is the main point of contact for client stakeholders. Holly is committed to working hard for clients and agents to ensure they have the correct education, a valid and current lot inspection on file and a one hundred percent vetted profile. As a veteran of the collateral recovery industry, Holly’s deep understanding of the marketplace and natural ability to look at the big picture enables her to design and guide solutions. Holly holds an M.B.A. from Bradley University and has worked in technology development and operations and management for companies as diverse as large fortune 50 and small start-ups for more than 25 years.
DESIREE ZEMAITIS
Operations Manager
As the RISC Operations Manager, Desiree is responsible for managing the overall processes and responsibilities of the RISC team. Desiree manages lot inspections, background checks and education. She is also responsible for client accounts payable and accounts receivable. As a 15-year veteran of the insurance industry, Desiree has in depth knowledge of Home, Auto, and Excess Liability Insurance plans. Coupled with over 10 years in customer service and client management, Desiree is a valuable resource for agents and clients who seek to understand their client requirements, education needs and other compliance responsibilities.
