Learn the updated best practices for dealing with unclaimed property laws and due diligence requirements.
Financial institutions are all too familiar with unclaimed property compliance and the challenges it presents to those who manage the process. Reporting unclaimed property annually to the states does not necessarily mean that the financial institution is in compliance. In fact, underreporting, misinterpretation of the rules of customer contact, and untimely reporting can present a great risk to the organization. An effective and efficient unclaimed property process should begin with inactive and dormant accounts to help mitigate reaching unclaimed property status. This material will examine how financial institutions can proactively utilize people, processes, and technology to streamline their unclaimed property management, mitigate undue risk, and implement best practices to create a best-in-class unclaimed property process.
Agenda
Faculty
Maureen Ferrari Grollman
Dunbar Group
- National Practice Leader Consulting and Reporting, Dunbar Group
- Was the National Practice Leader for Reporting and Consulting for Unclaimed Property Advocates when they joined forces with Dunbar to become a full-service unclaimed property service provider
- Previously worked at Keane as Managing Director of outsourced reporting; she managed a team of 20 staff members servicing over 350 clients in the financial services, life insurance, mutual fund, transfer agent, utility, manufacturing, and retail industries
- Started her unclaimed property career at the Pennsylvania Treasury, Bureau of Unclaimed Property, where among other duties, she managed the State’s voluntary disclosure program (VDA), counseling and assisting companies with Pennsylvania’s statutory compliance obligations
- Her work earned her national recognition from the industry’s leading trade association, which recognized her for leading the most efficient claims processing program among all state unclaimed property programs.
- Distinguished faculty member of Lorman Education Services and presents webinars on unclaimed property related topics
- Member of the Unclaimed Property Professionals Organization (UPPO)
Charlotte Anderson
Transformation Keys LLC
- Founder and Principal of Transformation Keys LLC – A coaching and consulting firm specializing in the financial industry
- More than 35 years of bank operations and leadership experience
- Successfully completed the acquisition and operational due diligence and integration for twenty-two bank mergers
- Oversight experience for escheat and abandoned property processes within the banking industry
- Operations improvement and excellence consultant within the banking industry
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