By March 23, 2015Compliance


Originally from the Philadelphia area, Cristy Conolly is the Director of Quality Assurance & Compliance and is a Certified Residential Appraiser at NAN. Her career in the appraisal industry spans over 11 years and she recently celebrated her 4th year at the company, where she oversees the direction of NAN’s elite compliance task force, manages the company’s policies and procedures, and supervises an experienced team of staff appraisers who make up the Quality Control department.  When not at work, Conolly enjoys spending time boating and swimming in the beautiful Tampa Bay area.

Cristy, what is NAN’s view on the importance of maintaining compliance as a third party vendor?

When it comes to compliance, we take the subject very seriously. We believe that compliance is a critical factor and not just mandatory to our operations as a third-party vendor.

As experts in the appraisal industry, we see ourselves as the direct link to our client’s collateral valuation pipeline. We recognize our position as such and invest in the necessary technology first-hand to ensure our compliance, preparedness and reliability perform to the highest of ethical standards.

Our team is committed to the adherence of regulatory compliance, to quality control and overall exceptional client services. We believe that no other appraisal management company provides the depth of regulatory compliance as we do… Our compliance management oversight is structured in such a way to ensure that there are no potential risks to our client resulting from the relationship.

How does NAN go about ensuring compliance on a regular basis?

We enforce policy on regulatory compliance. However, we understand that compliance must be solid, simple, and fast. We have developed an internal compliance manual that proves our depth of understanding of the clients’ needs better than anyone else in the industry. Our commitment to compliance extends through every facet of our business. We understand the challenges of remaining compliant in this ever-changing landscape of state imposed rules and regulations. Therefore, we have developed best practices to ensure our company is up-to-date on all regulations.

One of my primary responsibilities as Director of Quality Assurance & Compliance is to continuously oversee the monitoring of the latest AMC laws/regulations and incorporate them into our business practices in real time. Our appraisers rely on NAN to be active and current in the states that they work in and to follow all of the necessary protocols to remain so in order to ensure the steady flow of business.

Our team provides expertise in all facets related to compliance in appraisal management and administration. I work very closely with Co-Founder, Joni Pilgrim, where together, we develop NAN’s training curriculum, designed to meet all industry regulations. We publish the training material to the NAN University where clients have the opportunity to review in preparation for our mandated quarterly compliance training and testing.

We hold regular compliance meetings both with executive management as well as internal teams to address any compliance concerns. Additionally, we have developed a voluntary “Compliance Task Force” committee who meets regularly to discuss compliance and develop new and additional training necessary to adhere to company best practices in line with the strictest of regulatory standards.

I recently joined the newly formed “Collateral Risk Network,” which is comprised of a group of chief appraisers and industry regulators nationwide, who meet quarterly to discuss emerging changes to compliance regulations.

Together, we hope to contribute to the development of new appraisal policies, refine existing ones to ensure adherence to compliance and regulatory requirements, appraisal independence, and implementation of industry-wide best practices.

Stayed tuned for part II!

ABOUT NATIONWIDE APPRAISAL NETWORK- NAN is an industry leader in appraisal management, providing a unique approach to appraisal management through customization, innovation, and quality. NAN website – 888.760.8899

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