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


As President at RISC, Holly manages the internal and external operations of the business, and leads the team while working within all areas of compliance.  Working to optimize RISC’s education, vendor vetting and onsite inspection services, Holly ensures that the products are delivered seamlessly from initial document review, to customer delivery.  In addition, Holly is the main point of contact for all of RISC’s stakeholders, vendors and third-party providers. As a veteran of the collateral recovery industry, Holly’s deep understanding of the marketplace and natural ability to look at the big picture enables her to design and guide strategic solutions. Holly holds an M.B.A. from Bradley University, Cum Laude, and has worked in technology development, strategic operations, and management for companies as diverse as large fortune 50 and small start-ups for more than 30 years. Connect on LinkedIn


Desiree Zemaitis

Operations Manager

As the RISC Operations Manager, Desiree is responsible for managing the overall processes 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

In an effort to support the community during this unprecedented time, RISC proudly launched Program LIFT. This program provides real-life work experience to teens and college students ages 16 to 22 who are actively enrolled in school.

Our goal with this program 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 know this has been a difficult time for parents and young adults alike. Through LIFT, we hope to ease these difficulties by providing hands-on interactive training, which our LIFT participants can carry into their future endeavors.

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. 

In times like these, we are reminded to give back and to uplift where we can. Learn more about RISC’s Program LIFT to see how you can implement your own LIFT program at your workplace.

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