Recovery Industry Services Company Acquires Recovery Standard Training
This acquisition brings RISC’s industry leading certification program together with Recovery Standard’s compliance training and learning management system.
Recovery Industry Services Company (RISC), the industry leading compliance education and training company, is today announcing the acquisition of Recovery Standard Training.
The Recovery Standard training curriculum, created and maintained by Hudson Cook, will soon be added to RISC’s CARS certification and continuing education programs. Hudson Cook, the nations leading auto finance law firm, will continue to support and update the Recovery Standard curriculum and provide oversight and updates to the CARS curriculum ensuring third-party vendors and lenders are kept up-to-date with the latest government regulations.
Commenting on the acquisition, Stamatis Ferarolis, founder and chief executive officer of RISC says, “We are excited about this transaction which represents unification of robust education curriculum offered to the collateral recovery industry. The course material and software platform developed by Recovery Standard adds extensive value to RISC’s industry leading CARS certification program. This acquisition helps standardize vendor training and certification allowing repossession companies, national forwarders and lenders access to the most comprehensive option for ongoing compliance training.”
“I am pleased to join forces with RISC to deliver the most up-to-date compliance curriculum for third-party vendors and automotive lenders. RISC’s advocacy for professional repossession demonstrates a commitment to compliance, much like our mission at Recovery Standard Training, making it a clear choice to move forward with this opportunity and bring more unification to the collateral recovery industry,” added Brad Shrader, chief executive officer of Recovery Standard Training.
Auto finance lenders expect third party vendors to meet ongoing compliance standards while ensuring agents are annually trained and comprehensively vetted. The addition of Recovery Standard Training, which comes one year after RISC’s acquisition of Recovery Compliance Solutions’ vendor vetting services, reinforces RISC’s commitment to consistently offer the best-in-class vendor vetting and compliance training.
Recovery Standard Training materials will be added to RISC’s CARS continuing education program over the course of the next three months. In addition, RISC will add a new course for lenders covering skip tracing, cyber security and repossession agent scenarios.
RISC provides services to lenders and recovery agents advocating on behalf of all professional practitioners within the industry. RISC is dedicated to the professional training and certification, vendor vetting services and comprehensive lot inspections for third-party collateral recovery vendors. For more information, visit www.riscus.com.
About Recovery Standard Training
Recovery Standard Training provides curriculum created for lenders and recovery agents using a state of the art learning management system. All course material was created and is maintained by the national law firm Hudson Cook.
About Hudson Cook
Hudson Cook advises clients on banking, consumer financial services and privacy law, with an emphasis on compliance with federal and state laws and government investigations and enforcement. For more than 20 years the firm’s focus has been helping clients mitigate risk and advance their business goals.