Posted on Oct 29, 2014 4:30pm PDT

Brian Reiss, President of Bridgeforce LLC, moderates a panel on the subject of Implementing Compliance Management Systems that Work for Your Organization.

Newark, DE, October 29, 2014 -- Bridgeforce LLC 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 27 th – 29 th, 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.

Post Type: Press Releases