Regulatory compliance consultancy R.I.S.C. Associates has introduced Legislation Compliance Manager (LCM), an automated legislation and compliance management program designed to help servicers track and comply with new state and federal legislation.
According to R.I.S.C. Associates, LCM simplifies the tracking, management and compliance with pending and passed legislation within a menu-driven system and centralized management dashboard.
‘Keeping up with reviews, deadlines, tasks, possible material impact, as well as the implications of the legislation, is no small task,’ says Mick Kless, president of R.I.S.C. Associates. ‘And you have to know the status of your progress with each bill, regardless of whether you're adjusting policy, notices or disclosures in-house or though third parties, such as outside counsel."
LCM's dashboard and reporting features enable institutions to view the status of any legislation, material impact, the implications of the bill, the related tasks and the updates to any documents, the company says.
SOURCE: R.I.S.C. Associates