CEO's Message—Fourth Quarter 2021 | Remembrances: A NACVA Icon
Remembrances—A NACVA Icon
Parnell Black, MBA, CPA, CVA
This has been a sad month, first with the passing of Shannon Pratt (see tribute in here) and more recently, Rosemarie (RO) Smith. Many of NACVA’s newer members and HQ staff would not remember her, but those of us who were around in the 90’s and early 2000’s will never forget her. I hired RO on February 27, 1996. NACVA was a fledgling organization at that time, but I had so much on my plate, I was drowning and desperately needed help.I was quite surprised RO even applied for the position, Education and Research Manager, because not only did she have a PhD in Finance, but she also had 35 years of high-flying experience in corporate America and teaching at a university. You see I was not offering much pay; I simply could not afford it. The first question I asked her was, “Why do you want to work here, the pay is not what you are accustomed to and your experience is way beyond my needs?” Her answer was the answer to my dreams. She responded, “I have had a rewarding and fulfilling career. I don’t need money but am not ready to retire and want a job that is fun and a place where I think I can make a difference. And I think I can make a difference here.” Needless to say, I hired her on the spot.
RO and I became fast friends in a relationship of mutual respect, but one too, where she wanted to impart her wisdom and experience upon me. I listened intently because she always came from a place, not of emotion, but of knowledge and experience. We would end nearly every day in my office talking about the business of the day, and plans for tomorrow and the future. RO was endearing to whom all she met. Our employees loved her, our members loved her, and our instructors loved her.
She, however, was not a pushover and would call anyone on the carpet who needed to be set straight, including me. But she had a very kind heart and wanted only the best for everyone. I know many staff at NACVA also considered her their mentor. NACVA was so lucky to have her and especially in our formative years. I can unequivocally say we would not be what and where we are today had it not been for RO. We may not even exist.
RO was admired by all those in our industry who knew her, and it did not take long for that to come about. She was bold and outgoing in reaching out to practitioners and leaders in the community, who quickly came to respect her because she showed respect to all she met and her knowledge oozed out of her, but not in an arrogant way. It was just who she was. RO was so smart and so capable, before I knew it, her fingers were in all our pies. She oversaw all aspects of our training—course development, editing, and quality control. In this role, she oversaw tremendous expansion of our curriculum and the establishment of our training arm, now known as the Consultant’s Training Institute. She oversaw all topics development for all of our conferences, which included reviewing and editing, and writing portions of presentations and courses. When it came to NACVA’s curriculum, RO was a machine, always amazing me with how much and how fast she could do it.
RO was admired by all those in our industry who knew her, and it did not take long for that to come about. She was bold and outgoing in reaching out to practitioners and leaders in the community, who quickly came to respect her because she showed respect to all she met and her knowledge oozed out of her, but not in an arrogant way. It was just who she was. RO was so smart and so capable, before I knew it, her fingers were in all our pies. She oversaw all aspects of our training—course development, editing, and quality control. In this role, she oversaw tremendous expansion of our curriculum and the establishment of our training arm, now known as the Consultant’s Training Institute. She oversaw all topics development for all of our conferences, which included reviewing and editing, and writing portions of presentations and courses. When it came to NACVA’s curriculum, RO was a machine, always amazing me with how much and how fast she could do it.
Realizing what an incredible mind I had working for me, I decided to leverage her knowledge to improve mine and began giving her books, articles, and technical writings to read (she read everything anyway) and report back to me with a written and verbal summary of what I needed to know to be conversant on the topic. Our end of day meetings often entailed her briefing me on what she had learned. If I gave her an article/white paper, she would get back to me the next day. If it was a book, her turnaround was usually three days. One of the last assignments I gave her right before she fully retired from NACVA, was to help me determine which of the 85 hardbound books NACVA carried for resale in its inventory I should continue to stock, and which ones we should liquidate. She, of course, had read many along the way, but most had not yet been read. So, we loaded four boxes of books in her car and sent her home with an assignment that would have taken even the most diligent reader one to two years to complete. I thought it would take RO six months, but six weeks later she called me to say she was finished and ready to meet. She had scored every book on a number of points and we spent a day going over every one of them.
Once RO had retired (really before she retired), I knew I would never again have someone in my sphere like her. Her influence on NACVA was immeasurable and carries forward to this day. She raised the bar on everything we do and bred into our mindset and culture the importance of quality and the pursuit thereof. She took our eight-page newsletter, The Valuation Examiner, and turned it into a 50-page award winning professional journal, now The Value Examiner. She spearheaded the development of our first published Body of Knowledge. She oversaw the evolution of NACVA’s Professional Standards. She was integral in establishing our first international alliance and the International Association of Certified Valuation Analysts, now known as the Global Association of Certified Valuators and Analysts. She also blazed inroads into academia establishing our first relationship with Westminster College in Salt Lake City, Utah. She established and grew a new division known as the Center for Economic and Industry Research, now known as KeyValueData (KVD), into a viable enterprise.
But of all the things she did for us, it was her strategic mind that I most valued and trusted, and it was RO who convinced me that if we wanted NACVA to truly own the valuation space, we needed to get NACVA’s CVA credential accredited by an independent body like the National Commission of Certifying Agencies (NCCA), a division of the Institute of Credentialing Excellence (ICE). RO got the ball started and, as you all know, we did get our CVA accredited by the NCCA and eventually followed that up by obtaining the accreditation of the American National Standards Institute (ANSI). And we owe it all to Rosemarie Smith.
RO passed away at the age of 83 on November 21, 2021. She left behind a legacy—that being NACVA and likely many other legacies because she was a positive influence with everything and everyone she touched. She was a brilliant, caring, and wonderful woman who certainly ranks as one of the most influential in my life. She was loved by all who knew her, including me.
RO passed away at the age of 83 on November 21, 2021. She left behind a legacy—that being NACVA and likely many other legacies because she was a positive influence with everything and everyone she touched. She was a brilliant, caring, and wonderful woman who certainly ranks as one of the most influential in my life. She was loved by all who knew her, including me.
Parnell Black, MBA, CPA, CVA
Chief Executive Officer, NACVA
Chief Executive Officer, NACVA
