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Leave it to Ari Derman to be efficient — finding his wife and his entry into the credit and collections industry — at the same place. While he believes he would have ended up in regulatory compliance regardless of the serendipitous stint at summer camp, this industry is a lot better off with is insight and ability to not only break down important and complex topics, but to explain them so that even the most neophyte among us can understand them. Read on to learn more about Ari, what’s keeping him from a career as a fisherman, and why he prefers working late at night.
Name: Ari Derman
Job Title: Partner, Financial Services Regulatory & Compliance
Company: Clark Hill
Length of time at current company: Since 2023. I joined Joann Needleman’s team at Clark Hill after spending the majority of my career in-house, including serving as General Counsel for Harris & Harris, Ltd. in Chicago.
Length of time in industry: 15+ years in the ARM and financial services space, with a consistent focus on regulatory compliance, enforcement, and operational risk.
How did you get your start in the industry?
Funny story. I met my wife at summer camp. We were there together as campers from 1996 to 2001 and later came back on staff. During my college summers as a counselor, I got to know Harris & Harris CEO, now Executive Chairman, Arnie Harris, who would spend time up at camp with his wife, Nina, a longtime volunteer and social worker. I had the chance to pick his brain on law, business, and even baseball. After I graduated in 2009, Harris & Harris brought me in to interview. The rest is history.
What is your career highlight so far?
Helping companies navigate complex M&A transactions from a compliance and regulatory standpoint, both in-house and now in private practice. On the internal side, I helped oversee institutional investment into Harris & Harris, and at Clark Hill, I have worked with a number of clients to restructure and position themselves for strategic investment or acquisition as the industry continues to evolve. It has been especially rewarding to see people get recognized for the work they have put in.
When or how are you most productive?
Later in the evening, when the meetings have wound down and the kids are asleep. That is when I can focus on strategy and writing without interruptions.
Which industry professional do you admire most?
Easy, Joann Needleman. She always seems to have the right answer, even to a client’s toughest questions. Her approach to sensitive regulatory matters is second to none, and she consistently puts both her clients and her team first. I have had the benefit of seeing that up close.
What is one thing you do better than everyone else?
Bridging the gap between legal theory and operational reality. I try to give advice that actually works in the business, not just on paper.
What do you like most about this industry?
The people and the diversity of thought and backgrounds. It is still an industry where hard work and strong thinking are rewarded, often without needing the most traditional credentials. That is rare these days.
What is one thing you wish you could change about this industry?
There is still a lot of misunderstanding about how the business actually operates from those outside the industry, and we do not always do enough to explain it. A more consistent and informed regulatory and advocacy approach would benefit both companies and consumers.
If you weren’t in this industry, what would you be doing?
I wish I could say something cool like a bass fishing tour guide, but it would probably still be regulatory compliance and defense work, just in a different corner of financial services.
Describe a typical work day.
No two days are the same. It is usually a mix of client calls, reviewing regulatory developments, drafting guidance or agreements, and helping clients think through risk in real time. One constant is connecting multiple times throughout the day with Joann and our trusted associate Khari Griffin.
What is your guilty pleasure?
Collecting sports cards with my son. We recently submitted our first batch, some Cooper Flagg and Shohei Ohtani inserts, to PSA (Professional Sports Authenticator) for grading. Hoping for a few Gem Mint returns.
What is the best advice you have ever received?
Do not just issue-spot, solve the problem and take a position. Clients value clear, practical answers more than theoretical analysis.
What are you currently reading?
A mix of industry updates, regulatory developments, and fantasy sports primers.
What is one fact you’d like everyone in the industry to know about you?
I spent most of my career in-house, so I approach issues from the client’s perspective first. I understand the operational and business pressures behind the legal questions.
Who else would you like to see answer these questions?
Xerxes Martin and Jeff Endebak, assuming they have not already participated.
