What is the value of being a member of an association?
In the case of the Investment Recovery Association, the
answer is simple: SIGNIFICANT!
We are all pressed personally and professionally for two
(rarely surplus) assets: time and money. So when you consider
the ‘cost’ of membership in the Association,
it’s important to weigh the value received.
One way to determine the potential value of an association
is to take a look at its charter and determine if its approach,
programs and potential are of interest to you.
If they are, and the association is fulfilling its charter,
it’s probably a good fit. To paraphrase the Investment
Recovery Association’s Charter, we strive to:
1) Promote the study, development and implementation
of methods to improve the disposition of
2) Facilitate an interchange of investment recovery
(IR) ideas among its members.
3) Improve the skills of its members.
4) Develop IR-specific educational courses.
5) Promote the IR profession.
Over more than a quarter century, the Investment Recovery
Association has done an excellent job of establishing
and improving programs that fulfill its Charter. At least
once per year, the Association sponsors the Seminar and
Trade Show. This provides a forum for members to study,
develop and implement methods to better serve their
employer’s or customers’ needs for professional asset disposition.
The topics raised here are followed up six times
a year with online and printed versions of ASSET 2.0:
The Investment Recovery Business Journal. (There are
now more than 80 such articles archived on the Association
The issues covered in the seminars and on the website
are topical to those encountered daily by IR professionals
within many disciplines. The education is geared toward
the achievement of an accredited certification in the profession
(Certified Manager of Investment Recovery), the
only education and certification specifically developed for
investment recovery professionals.
The Association also provides an invaluable tool through
a biannual benchmarking program that provides the most
current data on trends and practices within the industry.
No other entity provides the serious practitioner with
data from peer IR groups to determine best practices and
establish benchmarks for your investment recovery operations.
Whether you use internal methods or a consultancy
to determine the effectiveness of your program, the best
way to improve your program’s effectiveness is to benchmark
against peer organizations. The benchmark data is
a significant benefit provided by your membership in the
Investment Recovery Association. Additionally, benchmarking
helps to promote the profession and provide a
vehicle to foster an interchange of ideas.
Lastly—and perhaps most significantly—the Association
offers a collegial environment for IR professionals
to meet with like-minded people. This is a difficult and
complex business, so the opportunity to find support from
others who truly understand the industry is immensely
helpful—particularly to those new to investment recovery.
Oftentimes, Regular Members, Associates and the many
vendors critical to the profession note that the networking
opportunities alone have more than paid for the annual
So reach out to a Board Member of the Association, or
our Executive Director, Jane Male, and find out how to
become a member (or a more active one!). Start harvesting
the value of membership in the Investment Recovery