Governance, Risk Management & Compliance: Incorporating critical elements of regulatory compliance, quality assurance, security, and disaster preparation and recovery throughout our collection operations.
Quality is implemented, documented, measured, audited, and evaluated across RDAC’s entire business. Treating quality as a formal process has several advantages that benefit RDAC and its clients, including ensuring adherence to regulatory compliance requirements, client contract and service requirements, and RDAC’s own internal work standards. In addition, internal and external auditing is performed to provide a double layer of assurance that RDAC is meeting its quality standards. RDAC Compliance Team focuses on:
Regulatory compliance applies to nearly all processes associated with debt collection operations and covers a multitude of laws, rules, and regulations issued by federal and state governing bodies, including debt collection.
Stringent Internal Audits
RDAC has developed and implemented a detailed internal audit program. RDAC’s Quality Assurance department conducts monthly and annual audits that evaluate business operations against core areas that cover data security, legal and regulatory compliance, operations management, data storage and account records, policies and processes, job responsibilities, training, internal controls, targeted audits, and remediation of any findings. Audits are conducted against an internally developed and maintained program that factors legal and regulatory requirements, industry standards and best practices – and is constantly being evaluated for improvement in efficiency and accuracy.
Multiple Third-Party Audits
RDAC uses a number of independent firms to provide third-party auditing services for our organization. External audits provide an independent assessment of the effectiveness and compliance of RDAC’s quality program. They also provide validation and proof, frequently via certifications backed by recognized subject-matter authorities, that RDAC is adhering to its quality program.