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Compliance Update – Sept 2016
The Compliance Team is excited to announce the addition of Michelle Rymerson, who now serves as Celink’s Vendor Manager. This is a new position created to focus more effort and attention on the important function of third-party vendor oversight. Celink has maintained a vendor management program for several years and Michelle is tasked with significantly enhancing it to create a more robust program.
Vendor management has become an area of focus for regulators over the past several years. Stricter standards and increased scrutiny by the CFPB, FDIC, OCC and state regulators require enhanced processes and procedures around this important function for servicers and all industry participants.
Celink’s quality control department began performing independent audits on key vendors in 2015. Michelle is involved in reviewing the vendor quality control results and working with management (and vendors) to address any and all areas of concern. In addition, Michelle works closely with various departments at Celink to participate in all onsite annual vendor visits. Finally, Michelle closely monitors vendor performance against established service level agreements and works to identify areas of opportunity for operational efficiencies and mitigation of risk.
Celink made the decision to invest in this new role, as we believe there is value in ensuring that our vendors provide the highest possible service, while also mitigating potential risks for Celink and our clients.