Certification2021-06-24T11:26:54-07:00

Individual Certification

The Certified Receivables Compliance Professional (CRCP) designation is required for each certified business’s chief compliance officer and optional for others within the receivables industry.

Business Certification

Debt buying companies, collection law firms, third-party collection agencies, and creditors can participate in and earn a Certified Receivables Business (CRB) designation through RMAI.

Certification
Auditing

The Receivables Management Certification Program is designed to provide three distinct compliance audits to ensure multiple and varied opportunities exist to verify compliance.

Earn RMAI
Certification Designations

RMAI’s Receivables Management Certification Program offers professional designations to businesses and individuals operating and employed within the receivables industry. RMAI launched the Certification Program in 2013 with a stated mission to “provide enhanced consumer protections through rigorous and uniform industry standards of best practice.” Often cited as the “gold standard” due to requirements that go above and beyond those  required by law, the program certifies collection agencies, debt buying companies, collection law firms, vendors, and brokers.

Frequently Asked Questions about RMAI Certification

Answers to the most frequent questions we receive about our industry, our organization and the members we represent.

What is the RMAI Certification Program?2020-10-25T20:13:02-07:00

RMAI’s Receivables Management Certification Program offers professional designations to businesses and individuals operating and employed within the accounts receivables industry. RMAI launched the Certification Program in 2013 with a stated mission to “provide enhanced consumer protections through rigorous and uniform industry standards of best practice.” Often cited as the “gold standard” due to requirements that go above and beyond what is required by law, the program certifies collection agencies, debt buying companies, collection law firms, brokers, and vendors. Click here.

What is Receivables Management Association International (RMAI)?2020-10-25T20:10:21-07:00

Receivables Management Association International is the nonprofit trade association that represents more than 550 companies that support the purchase, sale, and collection of performing and nonperforming receivables on the secondary market. RMAI member companies include debt buyers , collection agencies, law firms, originating creditors, international members and industry-related product and service providers. RMAI provides its members with extensive networking, educational, and business development opportunities in asset classes that span numerous industries. The association publishes a bi-annual magazine and newsletter, provides educational and networking opportunities at major forums, events and conferences, represents the membership before federal and state agencies, and supports the industry where appropriate in appellate cases.

What does business certification involve?2020-10-21T22:03:21-07:00

Certifications will be granted to businesses that comply with uniform and rigorous industry standards of best practices and pass an RMAI conducted background check. The standards address core principles including account documentation, chain of title, consumer complaint and dispute resolution, statute of limitation compliance, vendor management, credit bureau reporting, resale, as well as other relevant operational procedures. Certification can also be granted to vendors and brokers that comply with the applicable standards.

Does my business have to be certified?2020-11-26T15:58:18-08:00

Debt buying companies who are actively purchasing portfolios must complete their Certified Receivables Business (CRB) designation within one year as a condition for RMAI membership. Debt buying companies who are not actively purchasing receivables must meet the following requirements to remain an associate member:

  • Must not have purchased an account since your last membership renewal
  • When you purchase an account, it must meet all the requirements and standards outlined in the certification program
  • Must complete your business certification within one year of purchasing an account

Collection law firms,third party collection agencies and vendors may voluntarily seek the CRB or CRVdesignation but it is not a requirement in order to maintain their RMAI membership.

Can affiliated businesses share certification?2021-01-23T11:51:20-08:00

Affiliated businesses (debt buying companies, collection law firms, and third party agencies) may share certification under a “Family of Companies” designation provided that all of the businesses meet the following criteria:

  1. Have the same Chief Compliance Officer (CCO),
  2. Have the same executive management team that exerts control over business operations (this requirement may be waived by the Administration & Budget Committee if there exists other unifying factors that would preclude its necessity),
  3. Maintain a uniform network of compliance on all accounts serviced between the business entities,
  4. Are governed by the same corporate policies and procedures,
  5. Agree to be audited in a single unified audit, and
  6. Agree any Deficiency and Remediation against one business entity will apply to all of the business entities.

NOTE: Businesses that do not meet all of the Family of Companies criteria will need to maintain separate business certifications.

Family of Companies benefits:

  • Only one set of policies and procedures needs to be created rather than multiple versions of the same policy.
  • Only the Chief Compliance Officer needs to complete their individual Certified Receivables Compliance Professional (CRCP) designation rather than having multiple CCOs.
  • All businesses in a “family of companies” have a single unified audit, which significantly reduces costs for external audits for each separate business.
  • The cost of adding an additional business to your certification is only $150 rather than an additional fee of $1,800 per business.

 

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