Smartlend implements an in-depth Compliance Management Program for all of its clients. This includes fully updated policies and procedures, which are in compliance with federal, state and local regulations, consumer protection agencies, consumer loan associations and industry best practices. This information is delivered to all new employees when they begin the training process and to current employees when policies and procedures are updated.
All employees are required to complete online compliance training courses, specific to their department at the start of employment. Each employee must pass their assigned courses with a 100% score to ensure they are in compliance with the specific policies and procedures related to their role within the company. The online training courses are required to be completed both at the beginning of employment and on an annual basis.
Compliance quality assurance monitoring is conducted for each customer-facing employee. A minimum of 5 phone calls are monitored for each employee by the Compliance Department on a monthly basis. Each call monitor will be scored and the employee will be provided with feedback and corrective action, if necessary.
Per the Compliance Management Program, each company is to report all compliance training, complaint handling, call monitoring and disciplinary action activity on a monthly basis to upper management and on a quarterly basis to the Compliance Committee.