Vendor Transparency Solutions (VTS), a leading compliance management system for the auto finance and recovery industries, now offers a comprehensive continuing education portal to its clients. The company insisted that it created the portal stemming from regulators requiring financial institutions and their service providers to conduct ongoing training for their employees to ensure knowledge of and compliance with important rules and regulations.

VTS highlighted the portal offers training materials, educational videos and a testing module that is aimed to help ensure employees are up to date on privacy and Red Flag rules as well as other important areas including social media and confidentiality.

The module reports test results back to account administrators, which can allow for ongoing monitoring to ensure that test-takers understand the relevant materials and can provides remedial training for incorrectly answered questions.

“Continuing education is becoming an absolute requirement for companies in this industry,” VTS president Max Pineiro said. “Regulators want to see that financial institutions and the service providers that work with them are training and educating employees and making sure they have the necessary knowledge and information to do their jobs in the most compliant manner possible.”

All VTS subscribers have access to the portal. Administrators can manage and assign tests to all employees or they can pick and choose the most relevant tests.

Subscribed finance companies also have the ability to assign select modules to their service providers and monitor their progress, along with the ability to train and test on the modules themselves.

For further information on Vendor Transparency Solutions, contact Max Pineiro at (520) 468-3990 ext. 102 or max@vtscheck.com, or Jeff Koistinen, director of operations, at (520) 468-3990 ext. 100 or jeff@vtscheck.com.