Getting to Know Bob Deter of Crown Asset Management

The “Getting to Know” series is sponsored by Arbeit. Arbeit is a powerful, and easy to use communications platform that empowers businesses to reach more consumers. Innovative by nature, we are constantly listening to and understanding the businesses we partner with and developing long term industry relationships that allow us to be proactive in anticipating industry needs.

Leave it to someone on the sales side of the industry to recommend bridging gaps and inviting a regulator to participate in this series so everyone can see the “common ground” that unites all of us. Bob Deter is the professional who made such a suggestion, just one of the insightful comments he made in his answers below. Keep reading to learn more about Bob and we’ll definitely have to follow up with him about the Jay Leno story.

Name: Bob Deter
Job Title: Director, Business Development
Company: Crown Asset Management
Length of Time at Current Position: Two years
Length of Time in Industry: 32 years

How did you get your start in the industry?
I began my career as a desk collector with Discover Card, where I ultimately spent 17 years in various collection related roles including front line positions and Senior Management positions. The functional areas included General Collections, Training, Quality Improvement, Probate Recovery and ultimately Debt Sales.

What is your career highlight so far?
As I look back, I have most enjoyed my Debt Sales and Purchasing roles. Getting to experience and develop a deep understanding of the needs of both the seller and the buyer has been a highlight. Oh, I guess I should mention that meeting and spending time with Jay Leno hits the highlight reel. Yes, it was work related (but not an attempt to collect a debt).

When or how are you most productive?
When I am most productive changes from day to day. How I am most productive is by using modern technology. For those able to remember the days of carrying notebooks and paper day planners, you’ll know what I mean. What did we do before everything was connected to a device in our pocket?

Which industry professional do you admire most?
There are a lot of industry professionals that I admire. Picking just one is a challenge. If I must single one out, I’ll go with a former boss, Kathy Roberts. I had many other bosses that were also terrific, but the timing of my interactions with Kathy were pivotal. Great manager, teacher, and mentor. Always willing to share her experience, wisdom and insights.

What do you like most about this industry?
I love the vast nature of the industry and how it benefits consumers. I also enjoy the privilege of meeting many people and developing many friendships.

What is one thing you wish you could change about this industry?
I wish I could change the general perception of the industry with many. In particular with regard to the collection functions. Whether it’s the origination, servicing or collection functions, it seems the news is routinely filled with negative soundbites, and only on rare occasion with positive ones. It’s not perfect, but by and large the industry does so much to benefit so many – even when helping consumers resolve overdue obligations. There are many positive outcomes that just don’t get published.

If you weren’t in this industry, what would you be doing?
Pursuing a career in photography

Describe a typical work day.
I’m not sure there is a typical workday. But I like that. A day may be filled by speaking to clients, reviewing contracts, reviewing requests from prospective clients, digging into potential deals, following up on outreach efforts, attending conferences (not so long ago anyway – thanks COVID) or collaborating with company associates. The variety is great.

What is your guilty pleasure?
I have a sweet tooth.

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What is the best advice you’ve ever received?
I have been fortunate to have received a lot of good advice. Outside of the great advice we all receive from our parents (do the right thing, follow the golden rule, learn from your mistakes, etc.), one item that jumps out to me is: You can “if” yourself to death; don’t do it. Some things just can’t be changed.

What is one fact you’d like everyone in the industry to know about you
I have a fantastic wife, children, extended family and in-laws.

Who else would you like to see answer these questions?
This may seem hokey, but how about a regulator or two. On the surface it always seems regulators and industry are only at odds. But I know there is common ground. I have seen it firsthand. Let’s get to know some of the regulators.  

The “Getting to Know” series is sponsored by Arbeit. Arbeit is a powerful, and easy to use communications platform that empowers businesses to reach more consumers. Innovative by nature, we are constantly listening to and understanding the businesses we partner with and developing long term industry relationships that allow us to be proactive in anticipating industry needs.

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