Wednesday, Mar. 30, 2022, 12:40 PM
The American Recovery Association (ARA) gained more traction on the compliance front this week.
ARA announced through a news release that Flying A Information Resources has chosen the association’s compliance monitoring system to assist the firm in vetting and monitoring the compliance of its professional recovery agent network, including ARA’s site inspection program.
ARA reiterated that it is dedicated to providing choices to the recovery industry regarding compliance and safety training programs, firm in the belief that recovery professionals have the right to choose the program that best serves their individual company’s needs.
The association said this agreement will provide training program choices for Flying A’s agents among several nationally recognized programs.
“We appreciate ARA’s commitment to the idea of creating a culture of compliance in the recovery industry,” Flying A chief executive officer Richard Landeis said in the news release. “Flying A considers compliance and safety as a key component in our offering to clients, and ARA’s Compliance Monitoring System will both increase our operation’s efficiency and reduce compliance management costs.”
ARA highlighted that its compliance monitoring system begins with ever-evolving and highly detailed educational materials. These cover the complex repossession issues of the present day while blending the past with the present to provide historic guidance into the future of the repossession industry.
A portal also contains all the critical documents, policies and procedures necessary for repossession agents, including study materials for the Certified Collateral Recovery Specialist (CCRS) certificate.
“ARA made the investment to develop an industry leading compliance and safety training program to provide an open trade option for lenders and agency owners considering the best price point for their company,” ARA president Dave Kennedy said.
“I commend and look forward to working with Flying A and other facilitators and lenders who understand that giving the industry an alternative for compliance programming is one of the keys to building a sustainable business model for the collateral recovery industry,” Kennedy went on to say.
The development with Flying A arrives as ARA continues to plan for his year’s North American Repossessors Summit, which is on deck for June 21-22 in Denver.
Early bird registration discounts, a path for finance companies to participate in the annual golf event and more can be found at www.reposummit.com.