How good do you have to be at Microsoft Excel to get your own nickname, like you’re a Marvel superhero? I’m sure that Meghan Jean, aka “The Great Excelor” could teach us all a thing or two about spreadsheets, but there is a lot more to her than that. Read on to learn more about Meghan, her strong views on what she’d like to change about the ARM industry, and why she would make a great detective.
Name: Meghan Jean
Current Role/Job Title: Chief Compliance Officer / General Counsel
Company: Sequium Asset Solutions
Length of time at current company: 1.5 years
Length of time in industry: 14 years
How did you get your start in the industry?
During summer and winter breaks in college, plus for two years after graduating, I worked as a medical biller/collector where I communicated with patients regarding outstanding anesthesia bills. Somehow, I managed to fall back into this field after I graduated from law school when Jaffe & Asher contacted me. I went on the interview unclear of which department I was interviewing with. When they told me it was debt collections, I perked right up as I recounted my experience in the field. The rest is history.
What is your career highlight so far?
I’d have to say the continuous trajectory of my career. When I look back on all that I have done and learned, I am incredibly proud.
When or how are you most productive?
In my office, with the door closed, and with my AirPods in my ears shutting the world out!
Which industry professional do you admire most?
My outside counsel team at Frost Echols: Cooper Walker, Mike Frost, and Chad Echols. They are phenomenal partners who act as advisers, cheerleaders, and our dream team.
What is one thing you do better than everyone else?
Hmm… Microsoft Excel and I are pretty good friends. My team refers to me as “The Great Excelor”… do with that as you will.
What do you like most about this industry?
Although this industry is often looked down upon, it is a necessary “evil”. Back when I was in Operations, I enjoyed teaching collection agents how to communicate effectively, respectfully, and courteously to consumers who were undoubtedly going through very tough financial circumstances not of their own making. I enjoyed hearing consumers express so much gratitude in not being made to feel like a scumbag or feel worse about their situation, and being provided with an opportunity, without stress, to at least pay off one of their debts. Working in Compliance, I get to do the same thing, but on another level. This field can be rewarding.
What is one thing you wish you could change about this industry?
There is a lot I would change about this industry. The number one thing that comes to mind is the lack of protection of debt collectors from frivolous and meritless litigation claims. While I understand protecting consumers in the efforts to collect upon debt, there are many consumer attorneys who act in bad faith, looking only to enrich themselves, by filing frivolous claims and refusing to file dismissals despite receipt of proof that the matter is meritless. These attorneys rely on the fact that the FDCPA “allows” for the recovery reasonable of attorney’s fees… as determined by the court, and include exorbitant, unreasonable settlements for their own purpose. Because the law essentially forces the debt collector to prove their compliance, rather than the plaintiff-consumer to prove their case or the consumer attorney to do their due diligence prior to filing suit, the debt collector is forced to weigh the cost of defending these frivolous matters versus simply settling and unjustly paying the consumer and their attorney for frivolous matters. Imagine pocketing $4,000 of a $5,000 settlement just for filling in your client’s name to your standard complaint! I’m obviously playing on the wrong side of the field… It truly is unethical and an abuse of a law that needs to be changed.
I say all that to say that the FDCPA needs to either remove the award of attorneys fees, place a percentage cap on it, and allow the debt collector to demand attorneys fees where the court rules in their favor.
If you weren’t in this industry, what would you be doing?
I’d be on a plane traveling the world. But since one needs money to do that, I’d probably be doing something in IT, writing code or designing consumer-facing web portals.
Describe a typical work day
My typical work day involves pulling reports and auditing specific regulatory processes to ensure they’re working properly, overseeing ongoing process improvement projects for compliance with state and federal laws, and reviewing contracts. I’m also providing support to my team with anything they need.
What is your guilty pleasure?
I read a lot… a lot… of crime novels. Like, serial killer vs protagonist books. Karin Slaughter and Lisa Gardner are my favorite. I’m fairly certain I’ve ready every single one of their books.
What is the best advice you’ve ever received?
Everything you do is a reflection of who you are. Your name is your most valuable asset.
What are you currently reading?
“The Armor of Light” – Ken Follett
What is one fact you’d like everyone in the industry to know about you?
I’m serious and passionate about the work and all that my team and I produce.