ABOUT US
Our Story
Our focus on compliance was molded from our founders’, Joe Taylor and Stamatis Ferarolis’, first-hand experience as recovery agency owners and operators. In early 1999, based on a request from Empire Fire & Marine Insurance Company and AEON Insurance Group, Joe Taylor began to develop of a professional certification program for collateral recovery specialists that would be nationally accepted by the collateral recovery industry and would meet the strict criteria of Empire Fire & Marine.
Approximately 500 hours of extensive research went into the legal aspects of the program including both federal and state laws that affect the self-help repossession process. In late 1999, the CARS Program was “born” and submitted to Empire Fire & Marine, AEON, lenders, industry leaders, and to attorney, Bogden Rentea, one of the foremost legal authorities on the self-help repossession process.
The CARS training course led to the formation of Recovery Industry Services Company, RISC, in 2009. Since then, RISC services has expanded to offer numerous continuing education courses, certifications for financial clients, support documentation for recovery agencies, vendor vetting, and vendor onsite inspections.
RISC Management Team
Stamatis Ferarolis
Founder & CEO
As the CEO, Stamatis leads the RISC team to identify opportunities in the collateral recovery industry that drive industry growth through education, professional certification and compliance training. As a graduate of the University of South Florida, Stamatis has led many successful business ventures in the automotive industry including the recovery agency, Asset Investigations and Recovery, Inc., where Stamatis’ commitment to third party compliance was born. His first-hand experience as a recovery agency owner and operator uncovered the need for professional certification. Since then, he has been focused on compliance in the collateral recovery industry by working closely with lenders, recovery agents, national forwarders and the CFPB to identify services that will unify the industry through consistency and efficiency. Connect on LinkedIn
Holly Balogh
President
Holly is responsible for the strategic management of RISC, overseeing both internal and external operations. She works to optimize RISC’s education platform, RISC Pro Membership, and vendor vetting and inspection services, ensuring that products are delivered seamlessly from end to end. Holly believes in a partnership approach to compliance and to the success of all parties involved. Contact Holly if you’re interested in learning more about RISC.
Holly holds an M.B.A. from Bradley University, graduating Cum Laude, and has more than 30 years of experience in technology development, strategic operations, and management — working with companies ranging from Fortune 50 corporations to small startups. Connect on LinkedIn
Desiree Zemaitis
Vice President of Operations
Desiree is responsible for managing the overall processes, technologies, and responsibilities of the RISC team. Desiree manages lot inspections, background checks and education. She is also responsible for client accounts payable and accounts receivable. As a 15-year veteran of the insurance industry, Desiree has in depth knowledge of Home, Auto, and Excess Liability Insurance plans. Coupled with over 10 years in customer service and client management, Desiree is a valuable resource for agents and clients who seek to understand their client requirements, education needs and other compliance responsibilities. Connect on LinkedIn
Program LIFT
Leaning Into the Future Together
Program LIFT provides real-life work experience to teens and college students ages 16 to 22 who are actively enrolled in school.
Our goal is to mentor applicants while providing on-the-job training in office etiquette, business technology and responsibility. The young adults in Program LIFT perform clerical roles at RISC in order to build these skills.
One of our core values is to recruit, train and continually provide educational opportunities for professionals in business. Through LIFT, we are able to expand this to the business leaders of tomorrow.
We encourage other companies to adapt this model and begin offering meaningful career training to high school and college students. Download our framework to create your own.
