Bluestone Servicing has implemented a Risk Management Framework that assesses the likely risks in each department with a view to mitigating each risk to an acceptable level. The Framework has been implemented at all levels including management. The Risk Management Framework is reviewed by staff internally each quarter and then reported to management with final sign off by the board.
Auditing is conducted internally on a monthly basis and all appropriate service areas are covered. Files are audited on a random basis by a senior staff member. Results are reported to the appropriate department heads and management. Results are tabled and used to improve efficiency, service levels and accuracy. Recommendations are made to management and training and development programmes undertaken in accordance with these recommendations.