Achieve Complete Compliance
RISC’s comprehensive compliance approach helps auto finance lenders achieve and maintain third-party vendor compliance for collateral recovery.
Comprehensive Compliance Education
Selecting the CARS certification program provides accurate, relevant curriculum to third-party recovery vendors who are an extension of your financial institution. Our program covers all state and federal laws that impact the self-help repossession process. Ours is the only program that has been tested in a court of law.
- FDCPA
- GLBA
- UDAAP
- SCRA
- UCC
- Breach of Peace
- Defensive Driving
- Personal Property Handling
Compliance Management System
RISC has selected MBSi’s Compliance Management System (CMS) to track and maintain compliance documents and inspections. Through our partnership with MBSi, we have developed a comprehensive solution that ensures 100% compliance from vendor selection to assignment. If this feature is selected, assignments cannot even be sent to an agency who is not 100% compliant! Within the CMS, lenders have a comprehensive view of important compliance information for all of their recovery agencies. The ability to export these reports allows for easy vendor compliance management.
Complaint Management
We understand that complaint management is a key compliance metric for monitoring and managing your vendors and that the complaint must be tied to an assignment. Therefore, we encourage our clients to utilize MBSi’s complaint management solution to log and manage complaints associated with any issue related to the assignment.
Lot Inspection
We handle the coordination, scheduling and storage of lot inspections nationwide. Trained inspectors review the property and create a comprehensive report. Reports are accessible online 24/7 so it is easy to gather necessary documentation required by auditors or third-party regulators such as the CFPB. Inspections are performed annually to ease the burden on your vendor managers.
Through RISC’s integration with MBSi, the leading provider of repossession management software, lenders can ensure asset recovery assignments only go to agents that have been vetted and inspected by RISC. Each report covers:
- Business Information
- Physical Document Handling and Storage
- Electronic Document Handling and Storage
- Key Management and Storage
- Personal Property Management and Storage
- Office and Storage Lot Overview
- Exterior Lot Security
- Interior and Exterior Photos
