The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. Partner with a company who understands your business challenges and evolves to provide cutting edge technology to overcome those challenges and achieve success.
Reading his answers to the questions below, it is easy to see how much Jamie Welsh cares about the important things in his life. And while one of them might be the New York Yankees, those of us in the ARM industry are fortunate that working in collections is important to him, too. Read on to learn more about Jamie, what it’s like to raise twins, and how “a guy walks into a bar” means more to him than most people.
Name: Jamie Welsh
Job Title: VP, Sales
Company: Harvest Strategy Group
Length of Time at Current Company: It will two years this March
Length of Time in Industry: I’ve started on the outside looking in, but have been in and around the industry for 20 years, starting in 2000.
How did you get your start in the industry?
Like everyone else, I have taken a circuitous route to where I am now. I played baseball in college (Virginia Wesleyan University – Norfolk/Virginia Beach) and when faced with the reality I needed to find a job, I enrolled in Grad School to prolong the real world a bit longer and earned an MSW from Fordham University (Lincoln Center Campus). Realizing it was finally time to earn my keep (and pay student loans) I worked for a wonderful non-profit in NYC dedicated to assisting people with disabilities. There, I was responsible for the development of all educational conferences and fundraising events. This is where we enter the point in my story where the path becomes circuitous. I ran into a buddy I grew up with on the streets of Hoboken who worked for Faulkner & Gray. He managed sales for the events team and said they needed someone to develop content for a portfolio of events in their Financial Services vertical. In 2000 I took ownership of F&G’s Credit/Collections/Cards/Payments portfolio of events. The only thing I knew about collections was that I didn’t want to ever be “in collections.” My first day, I picked up Credit & Collections News and started calling everyone who was either quoted in a story, authored a story and/or was on the masthead. It’s at that point, I considered myself being part of this industry.
What is your career highlight so far?
Not to lessen the significance of things that happened along my way that included a number of significant events and people, but as it relates to a career highlight, I’d have to say it’s been the nearly two years I’ve been at Harvest. When I was afforded with the chance to seek my next opportunity a few years ago, I took my time and leaned heavily on my network. My requirements were very narrow. I wanted a place that felt like family because this was going to be the last stop on my train. Brad McCurnin and Dave Ravin hired me to one day fill the very large shoes worn by Rob Yarmo. To say he’s been instrumental in helping me be the professional I’ve become since I joined would be an understatement. His mentorship has been humbling and I know whatever meeting he’s in, cruise he’s on or concert he’s attending, he’s always a phone call away and without question has my back. But we still have a lot of wood to chop in ’21 before he sets sail.
When or how are you most productive?
I tend to be most productive when there’s goals and my primary goal is always working to maintain balance. For me, the timing doesn’t necessarily determine when I’m productive. Though once the kids are off to school, that first hour in the morning is key. In my career, it’s been important to keep good habits especially when you’ve prospected for two straight weeks with little more than an out of office reply being your only interaction. It’s during these times when the grind can be disheartening that I try to remember the balance that’s necessary to stay positive, motivated, and maintain those good habits.
Which industry professional do you admire most?
I’ve been so fortunate to be around a lot of impactful people in my career and whether they know it or not, they’ve had such an impact on who I am today. The list of people, or even specific characteristics of people in this industry that I admire is long. Though I’ve told this story to a handful of people, I’m fairly certain this person has no clue what an impact he has had on me in my career just by giving me his time on a cold call a very long time ago. That person is Tim Bauer. One of my first, very nervous phone calls in 2000 was to the EVP of Risk Management Alternatives and my reason for calling was one directional … can you help me explain things? He was gracious enough to answer his phone, give me a lot of his time, and an open invitation to call whenever I had a question. Tim spoke at many of my events and helped me develop relevant content for what became the two largest collections conferences at the time. And to this day, he will always get back to me when I call or make time in any hallway at any conference. This experience taught me that we are all playing the same game, regardless of what team we are on. And there’s always time to help someone or lend a hand. Thanks, Tim.
What is one thing you do better than everyone else?
According to my wife and kids, I’m a pretty good dad, and I get it, they’re biased, but I’ll take it. Seriously, we all respectively have things we’re good at. I don’t know how you grade it, but I consider myself a very good, loyal friend. And with that comes a lot of responsibility and accountability. I believe respecting and valuing the people you engage with is a foundational characteristic that applies itself in anything and everything you do. So, I think I’m pretty good at doing that. But that’s for someone else to keep score of.
What do you like most about this industry?
It’s an easy answer, but the people. For an industry much maligned and completely misunderstood by the general public, I’ve managed to be around and actively engage with some tremendous human beings. Many of whom I consider very good friends and are or were competitors at some point in time.
What is one thing you wish you could change about this industry?
I think the easy answer is the perception of our industry. The ARM industry has always been an easy target and political punching bag for anyone looking to associate a public perception with being consumer friendly. COVID has unfortunately turned into a polarizing topic for people to use and define who they are. But a story that isn’t beneficial to either side of the political aisle is the sound, responsible decisions many Americans are making when it comes to personal debt obligations during this global pandemic. And it’s been the ARM industry and our peers in the lending community that have been flexible and done everything possible to help consumers during these times. Unfortunately, that doesn’t sell papers or result in clicks.
Describe a typical work day.
Describing any day as “typical” would be doing a disservice to the word “typical.” The day starts with getting two five-year-olds fed, dressed, teeth brushed and out the door. This series of events typically determines the general direction of the day. Once at my desk, Mike Gibb’s newsletter typically starts it (shameless plug). From that point forward, it’s about balance and rhythm. In my role, each day’s direction is often dictated by the previous day/days output. Regardless, each day I try to maintain a balance of education, prospecting, research, and networking (which is good because you can almost guarantee a friendly voice on the other end of the phone).
If you weren’t in this industry, what would you be doing?
Not having put too much thought into this, at my age, I guess professional baseball player is out. If I wasn’t in this industry, I’d presumably be retired. If that was the case, I’d be hanging with my family, on or near the beach, seeing live music and in my workshop building something.
What is your guilty pleasure?
Baseball, specifically Yankee baseball & live music.
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What is the best advice you’ve ever received?
Always BE ready so you don’t have to GET ready.
What are you currently reading?
Dragons Love Tacos (1&2), Spy School, Isadora Moon Goes to School, and DC Comics Backstories. Did I mention I have five-year-old twins? But assuming the question was meant to ask what I personally was reading, when time permits, I’ve been working on “Sapiens: A Brief History of Humankind by Yuval Noah Harari.
What is one fact you’d like everyone in the industry to know about you
I grew up in a bar. It wasn’t literally where my mail was going, but close. My family has owned a bar in the town of Kearny, N.J. called Welsh’s Snug Harbor since 1984. My grandparents lived in one of the apartments above it and my aunt the other, so I spent a considerable amount of time in and around the business. Family is a big part of my life.
Who else would you like to see answer these questions?
Dave Schaar … because he dislikes talking about himself perhaps more than I do.
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. Partner with a company who understands your business challenges and evolves to provide cutting edge technology to overcome those challenges and achieve success.