AMBROSE CO-CEO JOHN IORILLO TO SERVE ON BOARD OF DIRECTORS FOR EMPLOYER SERVICES ASSURANCE CORPORATION
NEW YORK, June 03, 2010 - John Iorillo, Co-Chief Executive Officer of Ambrose Employer Group LLC (Ambrose), will serve on the Board of Directors of the Employer Services Assurance Corporation (ESAC). ESAC is a non-profit organization that establishes the operating, ethical and financial standards for all ESAC-accredited professional employer organizations and verifies compliance with these standards. “I am honored to serve alongside such distinguished former state and federal regulators” says Mr. Iorillo.
ESAC administers an accreditation program for the professional employer organization (PEO) industry to verify compliance with government regulations and important industry standards. The performance of key employer responsibilities by accredited PEOs is backed by bonds providing financial assurance for clients, worksite employees, insurers and regulatory authorities. ESAC’s multi-faceted accreditation and monitoring process ensures ongoing compliance with important ethical, financial and operational standards. Currently, ESAC provides financial assurance covering over $30 billion in annual employee wages. ESAC works in cooperation with participating PEOs and other industry trade organizations to protect public interests and to promote continued industry growth.
Mr. Iorillo co-founded Ambrose Employer Group, LLC in 1997 and has co-led the company through successive years of rapid growth. Iorillo has led the company’s expansion from a regional to a national PEO. He was honored for his entrepreneurial success when he received the 2001 Ernst & Young New York Entrepreneur of the Year® award in the Employment Services category.
Prior to co-founding Ambrose, Iorillo practiced tax law with Proskauer Rose in New York City. He holds two law degrees — a Master of Laws in Taxation from New York University School of Law, and a Juris Doctorate, with distinction, from Southwestern University School of Law. He received his undergraduate degree from the University of California San Diego.
Ambrose is a professional employer organization ("PEO") providing outsourced human resources administration, payroll, and benefits services to small businesses. Founded in 1997, Ambrose’s purpose is to help small businesses to focus on their core business. Ambrose is a niche PEO focused exclusively on business services firms, financial service firms, marketing and advertising firms, technology companies, and other professional service firms. Ambrose services clients across the country and has offices in Boca Raton, Los Angeles, New York, Short Hills, Stamford, and Washington D.C.
Established in 1995, Employer Services Assurance Corporation, (ESAC) administers an accreditation program for the professional employer organization (PEO) industry to verify compliance with government regulations and important industry standards. ESAC provides services and assurances similar to the FDIC for the banking industry, SIPC for the securities industry, and state insurance guaranty associations for the insurance industry.