I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology decisions. Learn more at ww.tecsg.com.
Michael Cassidy is being too hard on himself. While he makes it seem like being known for sending extra long and detailed emails might not be a good thing, his detailed answers below paint a picture of someone who is thoughtful and comprehensive. And that probably explains why though he may have happened into this industry by chance, he’s consistently moved up the ladder during his two decades as an ARM professional. Read on to learn more about Michael, and you can wonder, too, whether he enjoys both of his guilty pleasures at the same time.
Name: Michael Cassidy
Job Title: Chief Operating Officer
Company: Velocity Portfolio Group
Length of time at current company: 1 Month+
Length of time in industry: 21 years
How did you get your start in the industry?
I, like many, stumbled my way into the industry. Shortly after graduating from college, I felt the urge to leave bartending and find my “career” role. As was typical for the time, I found an article in the local newspaper, yes the classified section, looking for paralegals. I was so excited to get an “office job” that I didn’t realize it was collections until I arrived! That accidental role as a collector (not a paralegal) ultimately lead me to where I am today.
What is your career highlight so far?
I have been so fortunate in my career, having worked at great companies with great people. I was afforded the opportunity with a former card issuer employer to work with their lines of business in Sweden and Germany amongst other cool opportunities. As far as the highlight, I think the opportunity to build a consulting company from the ground up (with my former business partners) and work with so many great fintech issuers was a real highlight that ultimately lead me to where I am today with Velocity.
When or how are you most productive?
I am an early morning person, both from an exercise and work standpoint. I find I am most productive in the first couple of hours of the day and then late in the evening, when the 5-year old and ~2 month-old have gone to bed!
Which industry professional do you admire most?
The opportunity to work with Jim Mastriani was a major driver in my joining Velocity, I think few are as liked and trusted by both peers and sellers. Dave Pauken is the other. He has been a trusted personal and professional sounding board on top of his being an outstanding executive.
What is one thing you do better than everyone else?
I wouldn’t say “better than everyone else” but I have become known for some really detailed and extra-long e-mails.
What do you like most about this industry?
I love the people but also the fact that it plays such an overlooked but critical role in the credit life-cycle, both on the consumer and lending side of the equation.
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What is one thing you wish you could change about this industry?
I would love to see regulation catch-up with the evolving technology and new asset / loan products out there for the benefit of consumers. I think we are heading in the right direction but a little “shove” to speed it up wouldn’t hurt.
If you weren’t in this industry, what would you be doing?
Pursuing my long desire to be an owner of my own “dive bar”
Describe a typical work day.
I work both from my home office and our physical office in New Jersey. My calendar is jam packed meeting with internal team members, partner Agencies or Law Firms, and existing or potential selling partners. I love to be in the weeds of the Operation so find myself in performance reports and inserting myself anywhere I think we can extract value from our business! My “real job” however, is toggling between “mute on” and “mute off” at my home office when either my 16-year old dog is having a coughing attack or 2-month old is crying.
What is your guilty pleasure?
Peloton, On Patrol: Live, and a bourbon
What is the best advice you’ve ever received?
Never undervalue your own time and expertise, it’s a truly limited resource
What are you currently reading?
“The Daily Stoic: 365 Meditations on Wisdom, Perseverance, ad The Art of Living” and “Make Me” by Lee Child
What is one fact you’d like everyone in the industry to know about you?
I am generally bad at calendar management, I promise it isn’t personal to just “you”
Who else would you like to see answer these questions?
My former business partner and friend, Brad Bone
The Getting to Know series is sponsored by TEC Services Group. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology decisions. Learn more at ww.tecsg.com
