Ontario Systems, a receivables management technology and services provider, has expanded its Compliance Consulting Services to offer an enhanced scoring model called OntarioComply that analyzes more than 225 compliance obligations.
The companys goal is to use the OntarioComply score to offer clients not just a description of their riskiest processes and procedures but also prescriptive solutions to mitigate that risk. The company plans to continue offering recommended steps to alleviate gaps that may be detrimental to a clients overall risk profile.
"Our team of compliance attorneys and professionals delivers services designed for the unique needs of our clients," says Rozanne Andersen, Ontario Systems vice president and chief compliance officer. "Each of these products is designed to reduce risk of consumer harm, reduce the cost of compliance and reduce the cost of non-compliance. Our scoring model, OntarioComply, in particular provides objective, specific feedback to the client, allowing them to report on and respond to areas of highest risk.
According to Andersen, calling a particular business practice risky in the current receivables environment isn't enough.
"A useful consulting partner has to provide not only an evaluation, but a solution. My team and I work every day to provide those solutions to our clients, who consistently surprise us with their ingenuity, work ethic and attention to detail when it comes to compliance with a seemingly impossible set of new regulations and restrictions, she said.
Other services offered by the companys Compliance Consulting package will remain available, including:
CFPB Readiness Assessments
Compliance Remediation Services
Model Compliance Policies
Training programs for directors, management and staff
Outsourced compliance department services
Ontario Systems' customers include nine of the 10 largest collection agencies and three of the top six best health systems in the U.S., with 55,000 representatives in more than 500 locations.