CMS TUNE-UP!™ Unique New Service offered by Lenders Compliance Group
Lenders Compliance Group, the nationwide risk management firm, announces a unique, cost-effective review of a financial institution's Compliance Management System.
By: Lenders Compliance Group
NEW YORK - May 9, 2017 - PRLog -- Lenders Compliance Group (LCG), the nationwide risk management firm, today announced its new due diligence service, the CMS Tune-up!™.
CMS Tune-up!™ is a hands-on, cost-effective, due diligence review of a financial institution's Compliance Management System.
The unique review is conducted by the firm's Directors and Subject Matter Experts.
A low, one-time fee covers the following:
Subject Matter Experts;
CMS Tune-up!™ reflects the size, complexity, and risk profile of the financial institution.
Jonathan Foxx, Managing Director, stated that "Lenders Compliance Group is the only risk management firm offering this unique service! There is no other firm like us that has the range of knowledge and depth of experience to provide such an extensive overview of a Compliance Management System."
An effective Compliance Management System is comprised of three interdependent elements:
Board and/or Management Oversight,
Compliance Program, and
When all elements are strong and working together, a financial institution is successful at managing its compliance responsibilities and risks.
The Compliance Management System is how an institution learns about its compliance responsibilities;
Until this introduction of CMS Tune-up!™, there really has been no cost-effective way to obtain an overview of how well a financial institution is complying with the regulatory mandates set forth by the Consumer Financial Protection Bureau and the prudential regulators for implementing a Compliance Management System.
"An institution should not need to spend a huge amount of money to find out if its Compliance Management System adequately reflects regulatory compliance expectations,"
In an interview with media, Mr. Foxx offered this advice: "A word to the wise: don't wait for the CFPB or the federal agencies to gauge the implementation of your Compliance Management System! A strong and viable CMS is a mandatory requirement that is considered in a regulatory examination. Simply put, regulators have no tolerance for a deficient CMS. Now it is finally possible to be proactive!"
CMS Tune-up!™ Information, Brochures, and Proposals:
Phone: 866-602-6660 x 215
About: Lenders Compliance Group
Lenders Compliance Group, Inc. is the first and only full-service, mortgage risk management firm in the country that specializes exclusively in mortgage compliance, offering the widest suite of regulatory compliance services in mortgage banking. It is a national company, widely known to be a pioneer in compliance and auditing solutions for mortgage compliance. The organization consists of Directors, Group Administrators, Attorneys, Compliance Consultants, Auditors, and Subject Matter Experts in all areas of mortgage risk management. Lenders Compliance Group supports its clients through hands-on guidance, effectively managing regulatory compliance risk for banks and nonbanks.
For more information, call 866-602-6660 or visit www.LendersComplianceGroup.com.
Lenders Compliance Group