Peck shares the lessons he took from childhood to give back and motivate others and how to understand the needs of diverse perspectives in the workforce.
02/10/2022 10:45 A.M.
5.5 minute read
ACA International’s membership and the accounts receivable management (ARM) industry are becoming increasingly diverse. In recognition of that growth and Black History Month, ACA is highlighting Black leaders’ voices in the ARM industry.
“It’s great to celebrate Black History Month, and especially to better get to know several of our outstanding ACA members, their societal impact, and more of their personal stories,” said ACA CEO Scott Purcell. “One of Martin Luther King Jr.’s quotes speaks about the basics of honoring and respecting a person’s true identity: ‘People fail to get along because they fear each other; they fear each other because they don’t know each other; they don’t know each other because they’re not communicating with each other.’ To me it’s a rich life when we take the time to get to know people and understand their stories, their struggles, and their triumphs. It’s great to intentionally pause this time of year to celebrate Black History month, and to get to know our outstanding members even better.”
The U.S. has recognized Black History Month in February since 1976, according to the Association for the Study of African American Life and History.
Black workers have much higher rates of representation at collection agencies than they do in the general workforce, making up 24% of total bill collectors in 2020, according to research from ACA in partnership with Kaulkin Ginsberg.
Bill collectors work with consumers to recover overdue payments and make up roughly 73% of total collections industry employment.
For Ken Peck, senior vice president of Valor Intelligent Processing, Black History Month is a time to recognize the legacy of Black history and the stories and circumstances accumulated from it.
The debt collection industry is diverse in terms of racial demographics. Overall, racial and ethnic minorities make up around 42% of total bill collectors. By comparison, those groups comprise 36% of the total workforce. Black workers made up 12.1% of the total workforce in 2020.
Peck says taking the time to listen and hear from diverse members of staff and understand their needs is an important step in increasing diversity and inclusion.
In this member spotlight, Peck, who has over 20 years of experience in management, collections, and financial services, reflects on his active approach at facilitating feedback to see progress and change in the ARM industry; in addition to the examples his parents set to give back and motivate others.
Q. What is your ethnic background and how do you celebrate it?
A. I am African American. I do not celebrate my ethnic background through active intention, but by simply continuing many of the traditions that I was brought up with on a daily basis, one of those things being a role model to the youth.
Q. What is the importance of Black History Month and what does it represent to you?
A. I am in awe of the many circumstances and stories that have accumulated over time to contribute to the legacy of Black history. I view Black History Month as an opportunity for acknowledgment of the historical progress achieved by people of color. There is so much knowledge and inspiration that can be gained by taking time to reflect on and celebrate the successes relevant to Black history.
Q. Who has served as an inspiration in your life?
A. Both of my parents have been incredibly inspirational. My mom worked in public schools for over 20 years and was active in local underserved communities. She took children from underserved communities on field trips to the airport where my father worked, which gave me insight into the lifestyles of those less fortunate. She provided opportunities for these children to not only see airplanes, but to also stimulate visions and dreams of actually boarding one. My dad would always tell me to let my name be my business card. Both of my parents set great examples that ultimately inspired me to give back and help motivate individuals.
Q. What does it mean to you to be part of the ARM industry today?
A, I take great pride in being a part of the current workforce. If you love helping people, this is the perfect industry to develop your skills by helping consumers in need. Throughout the years, I have always made a point to learn about the collection industry’s many facets, which has been instrumental in building the effectiveness of my work with consumers, coworkers and clients. Somebody once gave me an opportunity, which continues to fuel my desire to return the favor through coaching, training and other forms of good will.
Q. Do you have any suggestions for other companies working on educational and inclusiveness programs in the industry
A. Honest and selfless progress requires an open mind and a willingness to hear the perspective of a diverse staff. Having been in management for over two decades, I now reflect on the many things that I learned through taking an active approach at facilitating agent feedback. There is a lot that we can gain through having open and willing minds regarding diversity and inclusivity. I would encourage companies to take a focused and genuine approach toward trying to connect with and understand the needs and perspectives of their staff.
Q. How do you celebrate and honor Black History Month on a personal level and/or at your company?
A. I find that having the ability to take regular moments of appreciative reflection on how far we have come as a society is a concept worth celebrating. Our staff at Valor is a close group with a diverse set of acknowledged voices. Each voice is a reflection and reminder of the pride I have in representing this organization.
Q. Is there anything else you would like to add?
A. I would end with this amazing quote from Martin Luther King Jr.: “Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.”
Read more about Ken Peck and how he got started in the ARM industry in Collector magazine’s Origin Story.
Do you know a member you would like to see featured in ACA Daily’s Member Spotlight or Collector magazine’s Origin Story? Would you like to share your story? We are also looking to highlight our international members and new members of ACA. Reach out to our communications team at [email protected] with your ideas. We’d love to hear from you!
If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.