Repossession Compliance
Compliance is critical in daily operations for the automotive finance industry and it is important that lenders meet the compliance expectations set by government regulators. RISC’s education, vendor onsite inspection and vetting services support lenders and ensure vigilance in their mission of compliance.
Education
Prevent negative outcomes with third-party vendor certification. The CARS (Certified Asset Recovery Specialist) certification program was developed in conjunction with Hudson Cook and provides accurate, relevant curriculum to third-party recovery vendors who act as an extension of lending institutions.
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Vendor Onsite Inspections
Automate CFPB-advised storage vendor onsite inspections with access to more than 3,000 repossession vendor onsite inspections today. Each inspector is trained by RISC and uses our standard vendor onsite inspection template to deliver a uniform top-notch inspection.
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Vendor Vetting
Allow RISC to gather and monitor third-party vendor information so your team can focus on vendor performance and profitability. Lenders can access all vendor documents and business information using our online Content Management System (CMS) 24/7.
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Our goal at RISC is to handle all the heavy lifting for third-party vendor compliance and let our clients focus on portfolio performance. From managing third-party business documentation, to ensuring a current vendor onsite inspection is always available, to providing high quality compliance education, RISC will ensure your vendor management is done professionally and accurately.
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