Bob Deter SVP, Portfolio Acquisitions at Crown Asset Management

Bob Deter with Crown Asset Management featured on Executive Spotlight

In his role at Crown Asset Management, Bob Deter oversees portfolio acquisitions for the organization. This includes assessing current marketplace conditions, identifying new markets and new clients, developing client relationships, brand building and collaborating with internal partners to complete due diligence on purchase opportunities (and other items). 

Name: Bob Deter

Company: Crown Asset Management

Title: SVP, Portfolio Acquisitions

(Said when there’s a simple task you’re told can’t be done:) “Ya know, more than 50 years ago we put a man on the moon.”

Name: Bob Deter

Company: Crown Asset Management

Title: SVP, Portfolio Acquisitions

(Said when there’s a simple task you’re told can’t be done:) “Ya know, more than 50 years ago we put a man on the moon.”

What is your favorite part of working at Crown Asset Management?

I get to work in a great industry, doing a job I love, surrounded by fabulous people at a company that is the best. 

In the receivables industry, what emerging trend has your attention?

The swing of the pendulum from low write-offs and consumers who are flush with cash to increasing write-offs and consumers who are facing the challenges of inflation and rising interest rates. Also grabbing my attention is the increasing need for documentation associated with portfolio purchases.

What industry change do you predict over the next 5 years?

I hope it’s the ability to gain more accurate general economic predictions. The last couple of years have made that a difficult task. In all seriousness, it is a tough thing to make predictions in an industry that has constant change. I would say it is likely that we will continue to see increased regulations, especially in the state arena. Yeh, I know, not a tough prediction. 

How do you define success?

Success can take many forms. Generally, in the workplace I would say it takes the form of accomplishing respectable goals and objectives with a win/win outcome.

What is the best piece of advice you have ever received in life?

Outside of the great advice we all receive from our parents such as do the right thing, follow the golden rule, learn from your mistakes, etc., one item that jumps out to me is: Some things in life are beyond your control. You can “if” yourself to death by continuously overthinking if only this, if only that….don’t do it. 

What advice would you give someone entering the receivables management industry?

For someone without a background in receivables management—be patient. This is a fascinating and tremendously beneficial industry. It is built on the needs of both lenders and consumers and is heavily regulated. You’ll soon realize how this combination makes for a complex industry. But it is manageable. Focus on doing the right thing and you’ll be successful. Also, there is a great network of reputable companies and industry associations. Take the time to get to know them.  

What are you most proud of or what is your biggest accomplishment?

At work – successfully managing my way up the ranks and into several executive positions. At home – as cliché as it sounds, helping my wife raise a family and watching two boys become men. 

If you could do any other non-industry job for just one day, what would it be?

Nature Photographer

People would be surprised if they knew…

It may be surprising to know that I met with Jay Leno, and it was work-related.

About Crown Asset Management

Founded in 2004, Crown Asset Management, LLC, is a professional receivables management firm that outsources purchased accounts to a nationwide, proprietary network of collection agencies and law firms. Utilizing a cutting-edge predictive analytical model during pre-purchase portfolio due diligence, our team focuses on achieving appropriate financial returns while ensuring the best possible experience for consumers. Crown Asset Management is an RMAI Certified Receivables Business headquartered in Duluth, GA.

Published On: August 7th, 2023|Categories: Executive Spotlight|Tags: , , |

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