Heit Snaps Up ReymannGroup, Launches Managed Compliance Service

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Heit's Managed Complaince Service (MCS) is targeted toward financial institutions and is delivered over a private cloud architecture and helps drive time and cost out of a customer's compliance efforts, according to the Fort Collins, Colo.-based MSP.

"The cloud platform serves as the underlying foundation of a holistic risk and compliance service providing access to an authoritative library of intelligent content and a deep bench of industry subject matter experts," according to a statement from Heit.

According to the MSP, Paul Reymann, CEO of the ReymannGroup, will remain with Heit following the acquisition as chief risk offer to lead the company's compliance and risk management services and look to expand the company's footprint in the Eastern United States.

Reymann spent 13 years with the Department of Treasury in Washington, D.C., where he authored several regulatory directives and advisories on emerging risk management issues.

"We're ecstatic to have Paul Reymann and the ReymannGroup on board with us," said Holt in the statement. "It’s been a period of rapid growth and innovation at Heit. The strategic acquisition of ReymannGroup and addition of Paul to our executive team emphasizes HEIT’s commitment to continue strengthening our team and offerings -- remaining the financial industry’s leading managed services and technology outsourcing provider."

Heit's new Managed Compliance Service offers features including Dodd-Frank Act mortgage lending readiness assessment, compliance and risk management, vendor management, business continuity planning, policies and procedures, Bank Secrecy Act/anti-money laundering and consumer compliance, according to Heit.

"We are continuing to pioneer the way community banks and credit unions leverage our subject matter expertise and technology through the cloud to ease the burden on staff, resources and budgets," said Dan Holt, Heit's CEO, in a statement. "MCS enables financial institution leaders to strengthen their compliance and risk postures, gain visibility and transparency across the organization and manage to CAMELS in a way that’s just not possible through traditional manually intensive, paper laden compliance and risk management programs."