Recovery Industry Fuels All-Time Growth for RISC’s Compliance Certification Program

Nationwide focus on compliance standards leads recovery industry professionals to RISC’s standardized compliance training.

TAMPA, FL 10/04/2017 – Recovery Industry Services Company (RISC) announces unprecedented growth and adoption of its industry leading Certified Asset Recovery Specialist (CARS) and CARS-FC certification program. For more than 10 years, RISC has lead the way in recovery agent training with its CARS program which has certified more than 10,000 individuals since it was launched in 2002. With an ever increasing focus on compliance, lenders, forwarders and repossession professionals have sought standardized training programs and reporting to internal and 3rd party auditors, such as the CFPB.

The industry’s focus on compliance has created a surge in the number of companies that require CARS certification for all employees. “Since June, more than 3,000 individuals have become CARS certified, with another 2,800 professionals currently preparing for the exam. By the end of Q3, the nations’ 5 largest forwarding companies had certified all of their employees with CARS-FC, and more than 600 repossession companies have begun the process of having all their employees, not just their drivers, CARS trained,” said Stamatis Ferarolis, founder of RISC.

“We are proud to be the only compliance certification program accepted nationwide by all lenders and forwarders,” Ferarolis continued. “From the CARS certification program to vendor vetting to lot inspections, RISC has developed a comprehensive solution that ensures compliance by enforcing standards and teaching individuals how recover vehicles safely and handle sensitive data.”

This Spring, at lenders’ request, RISC created the Certified Asset Recovery Specialist-Forwarding Company (CARS-FC) training program as an extension of the industry standard CARS program. CARS-FC consists of a comprehensive set of applicable laws and regulations specific to forwarding company personnel to provide standardized training in all areas of compliance.

RISC would like to recognize the following forwarding companies that committed and certified their personnel on the standard RISC CARS-FC program. We would like to thank these companies, and others, for their commitment to the effort of standardized compliance for forwarder company personnel:

  • Primeritus Financial Services
  • ALS/Resolvion
  • American Recovery Service
  • Del Mar Recovery Solutions
  • MVTRAC
  • Plate Locate
  • Synergetic Communication Inc.

For questions about the RISC CARS or RISC CARS-FC program, or to sign your company up, please contact Holly, at holly@riscus.com.

About RISC

RISC is an organization dedicated to providing services specific to the collateral recovery industry and advocate on behalf of all professional practitioners within the industry. RISC is dedicated to the professional training and certification of collateral recovery specialists. For more information, visit www.RISCUS.com.

 

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