Adam Parks (00:07)
Hello everybody, Adam Parks here with another episode of Receivables Podcast. Today I'm here with the RMAI, Receivables Management Association International Executive Director, Mr. Mike Becker. How you doing today, Mike?
Mike Becker (00:08)
Hey.
I'm doing wonderful, how about yourself?
Adam Parks (00:24)
I cannot complain it's another day in paradise getting ready for the RMAI Executive Summit, which is going to be our primary topic today. But Mike, for anyone who hasn't had an opportunity to meet you in person yet at one of these industry events, could you tell everyone a little about yourself and how you got to the seat that you're in today?
Mike Becker (00:42)
Sure. I'm Mike Becker. I've been with RMAI for just over a year now. I actually started in May of 2024. I have an association background. spent the last almost 20 years in associations, primarily in insurance, a little bit in pharmaceutical, always in Washington, DC, and always doing legislative matters other than some management, overall association management stuff. But made the move over to RMAI a year ago. It's one of the better moves I've made in my career.
It's been a fantastic entry into the association world in the receivable side and I forward to continuing to meet the incredible group of individuals that make up this industry.
Adam Parks (01:23)
Well, we greatly
appreciate all the hard work that you're putting in and your knowledge. It's been really a lot of fun for me to spend time with you over the last year getting to know you and your approach to association management. RMAI is clearly in good hands. and RMAI Executive Summit.
has always been my favorite event of the year for a couple of different reasons. for people that have heard me on stage through the years, I always like to say, I go to the RMAI Annual Conference every year to do deals. And I go to the Executive Summit to deepen my relationships. And that's really been my experience over the last, I want to say 10 years or so since I missed an event. So this year, we're up in Vermont.
Tell us about what is happening at the event this year.
Mike Becker (02:08)
Well, for those of you that have not been, let me maybe just give you a lay of the land of why this event is really different and far more unique than a lot of the conferences that you see throughout the year. This one is, it's far more of an intimate event. It's off the beaten path like they are every single year. This year we're in beautiful Woodstock, Vermont, but we've been in really amazing locations for many, many years during the Executive Summit and.
unlike these very large conferences that you may attend, this one in particular, it's really comprised largely of attendees that are C-suite executives or senior leaders. But I think the one thing that brings all of our attendees that they all have in common is everybody's a decision maker. And when you couple that quality of attendee at these intimate settings, to your point, yeah, it gives you a really great opportunity.
to network, to develop these relationships because we aren't in downtown urban setting where loads of restaurants and activities and nighttime, people really tend to stay on site. And it's a great opportunity, be it to have some of the education that we provide or some of the extracurricular activities that are available. It's just a great opportunity to network, to develop these relationships. And I think ultimately, you know,
increase the level of education for your business and increase your profitability, your efficiency, your compliance and so forth. So you can check a lot of boxes by attending the Executive Summit this year. And we have really great education this year that we, one of the strengths of the organizations are peer to peer education. We bring in experts that are members of the association ⁓ or experts in the industry that are able to deliver really high quality education. And you,
Mike Becker (03:52)
No one can speak more to that than probably yourself who's been to so many of these over the years.
Adam Parks (03:55)
You know,
you cover a lot of different things there. So I'm going to try and unpack them one at a time. The first one is the setting. and RMAI Executive Summit, in my experience, has been an hour to two hours outside of the airport that you're flying into. Part of the value of that is that we are actually together breakfast through dinner, and it provides a lot more opportunities.
When you are at a show that's really busy, we tend to go and visit our clique. And we tend to visit our friends, those people that we've known for 20 years, and we stay in these small little circles. At the Executive Summit, we're together so much time that you have that time with your kind of group, but then you also find yourself creating new groups and new places by the fire, making new relationships by the fire pit, eating s'mores and having a beer when the day is done.
But having those types of facilities, and I think RMAI has done a fantastic job of selecting locations through the years, and specifically like the characteristics of the property itself, providing an opportunity or identifying those places to where there's food on site, right? There's generally gonna be a bar there that's open pretty late, and it just gives us those opportunities to come together as a group in a more social setting.
I think you still find yourself having a lot of late night business discussions, but a lot of that is driven based on what was happening during that day, the challenges that we're facing as an industry. And I always found that we got a lot more personal as well, that we created these personal connections.
Mike Becker (05:29)
Well, I think, I mean, that's important to a lot of folks, including myself, is the personal side of the relationship and really getting to know people. And you'll actually see, at Executive Summit, you'll see there's folks that bring their families up to the event. And there's all sorts of activities, more formal activities that we're doing that we always do golf. Well, golf at the Executive Summit this year. Also this year, it's new to us. We're gonna do a pickleball tournament as well, for those of you that play pickleball.
So lots of activities you mentioned sitting on the fire pit. Yeah, we have fire pits at night and everybody comes down after dinner. You get a drink and sit around a fire pit and it's just ample opportunity and real relaxed settings to develop those relationships. And I don't think I can emphasize that a lot too much is, that relationship development. We provide, like I said, educational ethics this year. have really interesting topics, which I'm sure we'll spend a few minutes on today.
But really central to this Executive Summit is the relationship side. And whether you've been in the industry for decades or not, if you're brand new to the industry, this is a great place for you to come and meet those decision makers inside the industry and develop those relationships that you need to be successful.
Adam Parks (06:44)
It strengthens
those relationships that you need to structure your deal meetings at the annual conference. And I love that these are generally about six months apart and it feels like it's become an annual cycle. I'm able to build these new relationships at the Executive Summit and then turn those into business meetings after I followed up and continued conversations. But once those relationships start to develop, it becomes a lot easier to broach those other types of
meetings and discussions that are going to be a little bit more formal and starting the RFI process either with a debt buyer, creditor, etc. So I do really appreciate that portion of it. Now from an education standpoint, I love the peer to peer education here and that there's always a variety of topics that we're trying to cover, but it's very focused on those top layer executives. So I think I find that the content
is very focused on the C-suite, which is really the type of content ultimately that I'm looking for and that I find myself truly engaging with. What type of content or sessions do we have planned for this year? What kind of topics are we approaching as an industry?
Mike Becker (07:49)
We have great topics to share. want to also mention because this is more of an intimate conference, if you will, it's interactive sessions. You're listening to a panel or fireside chat. If you got a question, ask it. We really encourage that sort of environment so you can be more part of the education session than not to make sure that we're addressing really your needs.
But just a couple of 12 this year, 12 education sessions across three days from August 5th to the 7th. But we have one on valuation and &A. And every business, particularly the privately owned, but really all of them, you're privately owned or not, you have some sort of perpetuation plan. And how do you get the valuation for your business? What are your options for merger and acquisition or any sort of perpetuation? So I have a session on the valuation and &A, which we're focused on.
Adam Parks (08:20)
love that.
Mike Becker (08:39)
maximizing the evaluation.
Adam Parks (08:39)
It's a it's such a big focus across the industry, regardless of the type of organization, right? No matter where you fall into the disciplines of debt collection, you could be a buyer, an agency or a law firm, and everybody needs to have these succession plans in place. I've done, believe it or not a lot of content this year, starting to talk about these and going into those valuations, and not waiting until you're in the process to start the process. So I think going to a session like this helps you start
getting your wheels spinning in your mind about how you're gonna start to approach that type of a challenge. But what an important challenge as we go into the new challenges of 2025 and 2026 from a consumer standpoint.
Mike Becker (09:18)
Yeah, it's, yeah, it's essentially planning so easy to, you know, put on your bookshelf and a dusty binder and forget about. this, this is a great starting point for you, but to your point about the variety of education, I mean, that's, that's kind of a business leader type, education session, right? But then we're going right into consent management. It's, you know, consent management has become incredibly costly. It's challenging.
It's confusing and it affects everybody, whether you are a small buyer, large buyer, you're an agency, you're a law firm. The management of consent revocation is probably right behind that. So we're going to have a great session on consent management. What are the federal laws? are the state laws? What are the new regulatory requirements ranging from everything from online terms and conditions to privacy acknowledgments?
There has been so much information out there, so many changes too. So what this session has done in the preparation for it is we've really been able to see the information that's been out there and what's been clear, what hasn't been clear, who are the experts on it, and we've been able to pull them together. So we're really excited about that session to provide a little bit of clarity and set our member businesses out on the right path. We'll also have market trends.
and their impact on 2025. So you'll be able to come in and join us on a session where we talk about the recent trends in originations and balances and risk distributions, delinquencies, charge operations, and so forth, really to have a thorough understanding of what is really going on around the world in which we live and operate. So I think there's a kind of level setting foundational sessions that are going to be great for all attendees.
And one of the things that we've done this for years now and got great feedback on it, but we all collectively, if you're listening to this, you likely live in this receivables world, right? But we are just a sliver in the overall financial services pie. So we will have some other financial services associations joining us. We'll have CDIA joining us.
Adam Parks (11:18)
You
Mike Becker (11:19)
some
bankers joining us, really to find out what's going on in your world. What else is going on in the overall ecosystem and what keeps you, know, the associations, what keeps their members up at night and online lenders will be there. So that's a really neat session too, to find out what is going on in the world, you know, outside of our windows, so to speak. So that's a great session too, that's always well received.
Adam Parks (11:42)
I love that. It's one of my favorites. The part of the reason I really enjoy that type of a session is, and I think it was actually Manny Plasencia that said this in a session a couple of years ago, what we do at the creditor level directly impacts what happens to you and the quality of the accounts that you see. And the better we get better, the better we get at digital collections, the more difficult it is for you to execute on digital collection.
So I think identifying and understanding what's happening at that creditor level before it starts coming into post-charge off, how have things changed from a first party perspective? How have things changed for early out from a third party perspective? And what does that start to look like? That sounds like a really good session.
Mike Becker (12:25)
Yeah. And again, they're all the panelists are experts in their space. So there's no one else better to ask your questions to than the experts on these various topics. We'll also have some forward thinking sessions like on AI and technology, privacy, you know, probably a conversation for another podcast. But RMAI just created a AI committee and it's been fantastic. It's been comprised of
The initial membership is comprised of representatives from RMAI's other committees. So we're able to find out, you know, what committees are working on or what AI related topics are coming up. Be it, you know, the federal committee, what definitions are we talking about when it comes to federal law or on FinTech or any other component of the receivables industry. then the committee is comprised of really great experts. We're also able to kind of downstream their information into the committees. So we will have
Mike Becker (13:20)
This isn't specific to the AI committee, but it is related to our overall focus on AI and technology and being, from an organizational standpoint, being really forward thinking and making sure that we're as an organization, as an industry, evolving with the times. And so we'll have the session on regulation, privacy, and artificial intelligence. Navigating the future of compliance will be the focus of this particular session. So again,
Some of these sessions that you're going to see are kind of thought provoking. They're thinking ahead. Some of them are little pragmatic, like the consent or the hey, how can I get the valuation of my business now? So we'll cover the spectrum, but I'm really excited about the AI work that the association's undertaken. And this will be navigating the future of compliance as it relates to that is going to be a really exciting session as well.
Adam Parks (14:07)
Sounds like all these topics are very focused on the C-suite executive, which is exactly why I'm flying to Vermont. I will definitely be there at the event this year. Wouldn't miss an Executive Summit. Definitely not the same year that I missed an annual conference, but you know, hey, things happen. So.
Mike Becker (14:25)
We
want to let you go for 0 for 2, so.
Adam Parks (14:28)
Yeah,
there's no way there's no way I was going to accept 0 for 2 on RMAI conferences this year. But I do have one other question for you. As we talk about summit, there's always something fun happening on Wednesday night. There's always a taste of the town. There's always some sort of an event. What do we got cooking for if you can even talk about it? Yeah, like what have we got cooking for Wednesday nights?
Mike Becker (14:49)
So we will have a Wednesday night event. We have some surprises that we are planning right now. I'll tease it a little bit by telling you that being up in Vermont is kind of a nature-esque area. So we'll have some fun, think I'm gonna use the word exciting elements is what we're planning for the Wednesday night event. The Wednesday night event typically is we take advantage of the theme of the environment.
in which we are in, be it in this last year in the Southwest, we're in the Northeast this time, and really try to lace in that local culture, that local feel, the local town into a really fun, casual Wednesday night event. This is not your old Black Tie Conference ball, know, last night dinners. This is casual, very nice, very fun, and it's very unique that we will lace in the local.
Adam Parks (15:31)
Yeah.
Mike Becker (15:40)
local field, you will, of the town in which we're in. So we have some really cool things planned. There's some outdoor elements in Vermont that we're trying to maximize and involve in that dinner.
Adam Parks (15:51)
That's always one of my favorites. And I think it's always an event and I prefer to sitting at a table the whole time with you know, a couple of people like having that interaction and our ability to really intermingle and spend time with a variety of different people instead of just the person to your right and the person to your left. So I always really do enjoy these. think last year's event was fantastic. I the weather was a little, you know, was
not optimal, but that happens when we're throwing events all over the country. And there's been some really great ones, everything from Tahoe to Maine to Sedona. mean, it's really been all over the country. this for me has always been definitely a family oriented type of event. Unfortunately, daughter is way too young to be traveling to a conference yet, but I look forward to bringing them out to whatever the location is for next year.
The first of the first registrations, 100%. We're coming back just for that. But very much looking forward to everybody getting out there and seeing everybody because it really is such a casual and family oriented type of social activities. And if you're just coming out for the content and you're coming out for the networking, right, just.
walk up to people and say hi is the best way. It's such an open and honest group and the conversations really start to flow from breakfast and we're all, it really just takes some really natural paths. And that I think is why I find this to be one of the, even outside of the education sessions, this is one of the most educational conferences that I attend each year.
Mike Becker (17:19)
Well, and you know, you're right now, I'll say, if you're new and you're able to join us, ask us, ask the RMAI staff, hey, this is who I need to be in front of. And we will help you with that. You know, one of the breakfasts that we do, a really important component of RMAI membership is our affiliate members. And these are folks that are part of a business that really supports the industry and by default supports our members.
Adam Parks (17:26)
Yeah, yes.
Mike Becker (17:43)
and our affiliate councils puts together a breakfast. They're doing it again this year that is really engaging and focused on tabletop discussions. And I'll tell you, last year we had, it sold out essentially. I mean, it was, it's included in the registration, but in terms of those that attended, we were bringing down tables and bringing down extra breakfast because it was so wildly popular, but it's popular because it's effective and it's value rich. And the dialogues at this affiliate,
council driven and led breakfast. But what I love about it is it's not just another presentation where you're sitting at breakfast or any other meal for that matter. is discussions at a table. And that table that you're sitting at at breakfast is it you could be with buyers, you could be with agencies, you could be with our affiliate membership, service providers or law firms. Folks, know, folks you don't know, you'll you'll you know, you may sit down, you know, at a table.
without anyone, know, but you'll leave with a group of eight or 10 friends. But it's just something else, you know, really unique to the conference that we do. you know, thank you to our affiliate members for rolling up their sleeves and doing the planning on this. But another great networking opportunity for our attendees.
Adam Parks (18:56)
I'm glad you brought
that one up as co-chair of that particular council and one of the hosts of one of the tables. I didn't know I specifically chose a table where I didn't know anybody last year and I
did exactly that. walked out with eight new friends, people that I had never really had an interaction with. And we had a couple of structured questions and the conversations just kind of flowed from there. I think RMAI has done a fantastic job of refining that session over the years to where now it really adds a lot of value to the discussion. I enjoyed it. not, you never feel like you're
you're waiting, there's always part of the conversation that's continuing and you do have an opportunity to break bread with some new people. And I always say that relationships are built through a shared experience and the RMAI Executive Summit and this breakfast provide those types of shared experiences that allow us to start to build organic relationships, which is why we go to conferences. We go for the education, but a lot of this stuff.
we go for that networking opportunity. We go for that opportunity for the face-to-face discussions and to start engaging with new and interesting people around the industry. We realize that we don't live on an island, we're not all alone, and that there are other people that have the same problems as us that are just as open as we are to have those discussions and to actually share best practices and to participate in making the whole industry stronger. And that is...
That specifically is the reason I've been so proud to have served on the RMAI board for 10 years and to have served as president because I feel like there's just such an incredible opportunity for the entire industry to have these really open discussions and to learn from each other. I'm here for the people. I'm flying the RMAI annual conference this year from Sao Paulo, Brazil, and then flying straight back to Brazil. But I couldn't miss that opportunity.
to do that FaceTime with my friends. I'm still in this business because I love the people. that's really a lot of those relationships started by attending the RMAI Executive Summit.
Mike Becker (20:59)
Yeah, organizations like, you know, associations are really, I mean, the greatest value really of any organization, but certainly associations as its people. And it starts with folks like you, Adam, our members. But we're fortunate as an association because we have a tremendous membership base of really strong organizations and strong people. It's led by an incredibly effective, really diligent, engaged board. And the staff team is
a group of just highly focused, really dedicated folks, laser-like on the success of our members. It's a pretty strong recipe. And you can see it all come together at Executive Summit. So we hope you do.
Adam Parks (21:39)
Well, I very much
look forward to being there. Mike, is there anything that I'm forgetting to talk about as it relates to the RMAI Summit this year?
Mike Becker (21:47)
I think that's it. We can go right to our website and look for more information. It's rmaintl.org. Right under Events, you'll see the Executive Summit information. But like anything, whether it's Summit or any other question you have about RMAI, you can go right to that website and contact myself or anyone else on the team. We'd be more than happy to hear from you. And we hope we do it for you. We'd love to help you with anything you need.
Adam Parks (22:11)
I think the RMAI
staff is second to none. I will put some information below with the links to go register, learn more about this particular event. I do hope to see you all there for anybody that wants to connect at the event, shoot me a message on LinkedIn. I'm happy to provide any assistance that I can for newcomers to start engaging with the association and to start building your own personal relationships. But Mike, I'm really looking forward to seeing you in Vermont. I guess it's really not that far away, right? Like we're not too far out.
But very excited to get out there and spend some time with your with you and your team
Mike Becker (22:44)
We're looking forward to seeing you too. Thanks, Adam.
Adam Parks (22:47)
Absolutely.
For those of you that are watching, if you have additional questions you'd like to ask Mike or myself, you can leave those in the comments on LinkedIn or YouTube or shoot me a direct message on LinkedIn and I'll be responding to those. Or if you have additional topics you'd like to see us discuss, you can leave those in the comments below as well. And I'm to bet I can get Mike back at least one more time to help me continue to create great content for a great industry. But until next time, Mike, thank you so much. I really do appreciate you. And thank you everybody for watching.
Mike Becker (23:11)
Thank you.
Adam Parks (23:14)
We appreciate your time and attention. We'll see you all again soon. Bye everyone.
