Ferrell shares how his parents’ work ethic and celebrating their ancestry shaped his career goals and mission to help others during Black History Month and beyond.
02/23/2022 10:00 A.M.
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 Khari Ferrell, an associate at Malone Frost Martin PLLC in Dallas, Texas, Black History Month is a time to recognize his ancestry and make progress in helping others and increasing diversity and inclusion in the workplace.
“History is made every day,” Ferrell said. “What we’re doing today will one day be considered history. Because of that, it is important to continue building on the tradition already established by those who have come before us.”
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.
In this member spotlight, Ferrell, who started his career at Malone Frost Martin in 2019, reflects on the work ethic of his parents and how he can help share that knowledge with others while growing the diversity and inclusion goals embraced by his firm
Q. What is your ethnic background and how do you celebrate it?
A. Ethnicity and race are both extremely nuanced topics. With that being said, at the risk of over-simplifying both classifications, I generally self-identity as African-American. Specifically, I have ancestry connected to Africa as well as the indigenous population of North America. I celebrate my ethnic background by working to honor my ancestors through my career and with my community. I also celebrate my ethnic background by acknowledging that I exist at a unique intersection of culture between a deep-rooted African ancestry and a complex and impactful lineage of Blackness in America.
Q. What is the importance of Black History Month and what does it represent to you?
A. For me, Black History Month represents not only the resilience, strength, and perseverance displayed by my ancestors, but also the promise and hope for both myself and future generations. It is a moment for us to pause and acknowledge the cultural and historical impact that Black Americans have made and continue to make to this day.
Q. Who has served as an inspiration in your life?
A. My parents, Arthur and LaVerne Ferrell, have served as my biggest inspiration throughout my life. From an early age, they not only instilled love and guidance in my sister and I, but also a strong sense of pride in ourselves and our ancestry. Watching how hard my parents have worked over the years to provide for our family, while ensuring that we had a strong understanding of our culture and heritage, has shaped me into the person I am today.
Q. What does it mean to you to be part of the ARM industry today and what has been your experience as a Black person in this industry?
A. For me, it’s about striving to be the best I can be each day. As a Black man, I am keenly aware of the obstacles that have existed, and currently exist, in our society for people of color. As an attorney, I am a strong believer in knowing and understanding our history and its impact on law. Because of my experiences, I am able to analyze complex issues through the dual lens of an attorney and a Black American.
Q. How is your company embracing diversity and inclusion among your team and in the industry, both this month and year-round?
A. While diversity remains a largely uphill battle within the legal community, I am fortunate to work for a firm like Malone Frost Martin that actively embraces diversity and inclusion within the workplace. This is something that I value deeply in my work environment, and I will continue to cultivate with my team as I continue in my career.
Q. Do you have any suggestions for other companies working on diversity and inclusiveness programs in the industry?
A. The main suggestion I would offer companies and law firms is to make a more concerted effort to increase the level of diversity within their respective organizations. As simple as it sounds, the only real way to create a more inclusive environment in the workplace is to include a diverse group of individuals within the working environment. Often we tend to think of increased diversity as a “one-way street” in its impact and benefit for minorities. However, increasing racial, cultural, religious, and gender diversity within the workplace also has a positive impact on companies’ work culture and overall productivity.
Q. How do you celebrate and honor Black History Month on a personal level and/or at your company?
A. On a personal level, I celebrate and honor Black History Month by working to extend opportunities to young Black people interested in a career in law by offering mentorship and insight into my career path. I also work to acknowledge Black people who have made historical impacts and who are currently working to make an impact today.
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.