Compliance Services

We build and review all aspects of your Compliance Management System to ensure that the proper controls are in place to guarantee its effectivity and success.

SOC 1 Preparation and Audit

The Service Organization Control (SOC) 1 report confirms your organization’s commitment to a number of service trust principles including: Security, Availability, Processing Integrity, Confidentiality and Privacy.

Each of these principles have well-defined criteria and controls which must be met to ensure your business receives an “unqualified opinion” meaning that no exceptions were found during the audit. We work with you to ensure that all controls are in place and all audit criteria are met. Additionally, our Certified Public Accountants are audit experts who have real world experience with the Accounts Receivables Industry.

SSAE 18 Preparation and Audit

Our SSAE 18 preparation and audit programs are exclusive to accounts receivables management organizations. OMG will help you attain and maintain this prestigious and necessary audit. We will work with you and a team of knowledgeable CPA’s that understand the accounts receivables management industry and provide “first class,” cost efficient preparation and auditing services.

RMA Certification Preparation

The Receivables Management Association (RMA) Certified Professional Receivables Company program is viewed by the Consumer Financial Protection Bureau and most credit originators as the “gold standard” in determining that a potential debt purchasing partner is aware of and complying with state and federal statutory requirements, responding to consumer complaints and inquiries, and following debt buying industry best practices.
Our team’s experience as compliance experts and executives with some of the pre-eminent debt buying organizations can assist you in addressing the Certification Standards, drafting the policies and implementing the processes required for certification.

Compliance Management

In today’s environment, nothing is more important than observing to the laws which govern your industry and dictate how you interact with consumers. Presently, OMG performs the services of Chief Compliance Officer for several agencies. We will work with you to ensure that your organization’s Compliance Management System includes the necessary policies, procedures and controls to maintain compliance with the FDCPA, FCRA, GLBA, EFTA, RESPA, HIPAA, UDAAP and various state statutes.

CFPB Mock Examinations

The Consumer Finance Protection Bureau (CFPB) has stepped up its examination of delinquent accounts receivables and collections services providers.
To be better prepared for “not if, but when”, clients have employed OMG to conduct reviews of their Compliance Management Systems and identify any deficiencies. Our goal is to bring more knowledge as to the CFPB mindset to the benefit of our clients.

Operational Assistance

Successful organizations recognize how important it is to retain and grow their client base; yet attracting and maintaining customers has become even more difficult in the wake of heightened competition and increasing demands.

The OMG team collaborates with you to design and implement programs that address:

  • Enhanced productivity and profitability
  • Better staff hiring and increased retention
  • Superior operations management
  • Improved client relations
  • Opportunities identified during client audits

Because of our diversified client base, we have seen the “world class” strategies that result in improved revenue generation. Even if you think that you are performing at optimal level, we can provide you with an objective assessment of your organizational effectiveness.