Newark, Delaware (PRWEB) October 31, 2014
Bridgeforce Inc. was invited by Source Media to speak and moderate a panel at this year’s Financial Services Collections & Operational Risk Conference, held in Las Vegas, NV from October 27th – 29th, 2014. Brian Reiss, President of Bridgeforce, introduced the topic “Implementing Compliance Management Systems that Work for Your Organization.” He then led a panel discussion comprising a group of executives from several firms that represent the industry. The panel addressed questions including the challenges of setting up a compliance management system, how to get organizational alignment, measuring success, and the value of implementing a system.
In his opening remarks, Brian pointed out that a good Compliance Management System (CMS) is like an ecosystem of policies, communications, reviews, corrective actions and other tools. He detailed four interdependent control components of most systems:
A. Board of Directors and management oversight that emphasizes accountability, ownership and independence.
B. Compliance Program that coordinates policies and procedures, training and corrective action.
C. Consumer Complaint Management Program stressing timely and effective customer-by-customer complaint handling.
D. Independent Compliance Audit to validate (or invalidate) CMS effectiveness while also serving as a feedback loop.
For more information about this topic, and to download a copy of the “Implementing Compliance Management Systems that Work for Your Organization” presentation slides, please click here.
For more information about the Financial Services Collections and Operational Risk Conference, click here.
Bridgeforce is a specialized multi-national consulting firm serving a variety of clients involved in almost all aspects of the consumer and small business lending and payments space. Over 75 percent of Bridgeforce consultants come directly from client-side leadership positions across multiple parts of the credit lifecycle. Combined with subject matter expertise in operations, technology, strategy and regulatory issues, Bridgeforce has the knowledge and experience to make the hard choices in developing and implementing best-fit solutions that are both achievable and lower the risks of execution to ensure sustainability. The Bridgeforce success can be attributed to a culture fostering innovation and evolving experienced-based best practices recognized within the industry. For more information, visit http://www.bridgeforce.com.