Case Study: Ocwen Financial Corporation achieves 300 policies in four months and regulatory praise with NAVEX PolicyTech®

PolicyTechTM Helps Ocwen Financial Corporation Keep Pace with Regulatory Demands

Ocwen Financial Corporation, a major U.S. mortgage servicer with more than 9,000 employees, was struggling with rising regulatory expectations and an inefficient, manual policy-management process that consumed executive and risk-team time and jeopardized audit readiness. Existing tools couldn’t scale to deliver the consistent governance and documentation regulators required.

Ocwen deployed NAVEX PolicyTech, a secure, cloud-based policy and procedure management solution with Word integration and strong search and export features. The system was rapidly adopted by employees, auditors and regulators, enabling Ocwen to write, review and publish nearly 300 policies in under four months (versus prior approval cycles of up to two months per policy), greatly increasing productivity, improving audit preparedness and driving interest in expanding the tool to other departments.

Ocwen Financial Corporation

Daniel Paula

Vice President of Risk Management