Impac Funding Corporation Selects Reliant Solutions for Centralized Management of Audit Operations
ReliantAuditor from Reliant Solutions
- ReliantAuditorTM to provide Impac Funding Corporation with controls testing, remediation, and risk assessment- Quotes from Anthony Padilla, Director of Internal Audit at Impac, and from Reliant CEO, Dipak Shah
LAGUNA NIGUEL, Calif.--(BUSINESS WIRE)--Reliant Solutions today announced that Impac Funding Corporation (IFC), which, previously purchased non-conforming first mortgage loans and second mortgages from a network of third-party correspondents has selected the company's flagship solution, ReliantAuditorTM, to provide centralized management of audit operations, controls testing, remediation and risk assessment.
"In evaluating our business processes, we made a strategic decision to move toward an automated audit solution in efforts to streamline our audit activities and to realize cost savings," said Anthony Padilla, Director of Internal Audit. "When considering other automated audit solutions available, we determined that ReliantAuditorTM was the choice for us. ReliantAuditorTM should allow us to centralize numerous audit functions, utilize a central database for internal controls, standardize our risk assessment processes, and provide greater visibility into potential risks."
ReliantAuditorTM is the first comprehensive solution to automate audit operations from the perspective of the Chief Audit Executive, including risk assessment, audit plan management, control monitoring, testing and remediation, and integrate these into a dynamic risk framework that provides up-to-the-minute status on audit results from across the enterprise.
ReliantAuditorTM reduces audit costs by reducing the time and effort needed to prepare, conduct and report on audits. Its global dashboard facilitates collaboration with key stakeholders, allowing them to easily see and respond to high priority items that require attention. The out-of-box controls and audit plan templates, representing industry best practices, enable rapid deployment to maximize ROI.
"As each organization approaches automation in its own way, ReliantAuditorTM is engineered to provide the greatest flexibility and robustness to those implementing it," said Dipak Shah, CEO of Reliant Solutions. "We're pleased that Impac Funding Corporation is the latest example of an organization using ReliantAuditorTM to optimize its processes, enabling it to derive greater business, and strategic value from audit."
About Reliant Solutions, Inc.
Reliant provides software and consulting services for chief audit executives who want to reduce the high cost, complexity and uncertainty of enterprise-wide audits. To effectively manage risk, auditors need efficient audit processes, reliable test data and continuous visibility into risks, controls and audit results at any time. Reliant delivers all of these and more with the only continuous risk management solution for auditors. With Reliant, you can continuously monitor transactions, streamline audit operations, automate control testing and remediation, and implement a dynamic risk framework that shows up-to-the-minute status of audit programs. Using pre-packaged, standards-based controls for compliance, operational and financial audits, Reliant helps companies to reduce risk while gaining efficiency, quality, insight and assurance throughout the audit process. For more information go to www.reliantaudit.com.
About Impac Funding Corporation.
Impac Funding Corporation is a subsidiary of Impac Mortgage Holdings, Inc. (IMH), whose primary business has been its long term investment operations, investing primarily in non-conforming residential loans, and to a lesser extent, small balance commercial and multifamily loans. Until August 2007, IMH subsidiaries specialized in residential and multifamily loan origination, in addition to warehouse operations. In an effort to be pro-active and adapt to current market conditions, IMH has modified its business strategy to help support the needs of today's challenging lending environment. Its business is now primarily focused on providing real estate services and asset management solutions to the mortgage industry. For more information please visit the company's web site at www.impaccompanies.com.
