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Jim was born and raised in Cheyenne, Wyoming. After graduating from the University of Wyoming in 1963, he joined the company in August of that year as the first member of the third generation of the Wallick and Volk family. At that time, the company had six employees and three real estate agents. In the ensuing decades, the company substantially expanded its loan origination, mortgage servicing, real estate, and insurance divisions. The insurance and mortgage servicing divisions were sold in the 1990's and the real estate division in 2005. Jim became president in 1980 after the untimely death of his father, Roy Volk. Part of his activities have included numerous real estate developments, including both residential and commercial projects. He continues to maintain his Real Estate Brokers license.

Today, Jim has the title of CEO/Chairman after Michael Groff's promotion to President in November, 2005. Jim continues to be active in the management of Wallick & Volk.