Achieving Unclaimed Property Compliance – Best Practices for the Banking Industry
Reduce the risk of audits, fines and penalties. This program provides an overview of unclaimed property issues, best practices and tips for filing reports, tracking accounts, preparing for an audit, retaining your customers/accounts and more.
The normal, everyday operation of your institution results in the generation of unclaimed financial obligations that, if not cashed or remain outstanding, may become known as “unclaimed property.” When unclaimed property is not correctly managed and reported, the risk of state audits, subsequent fines and penalties becomes a distinct reality. Unclaimed property compliance is especially critical for banks because it typically involves their number one asset: customer relationships. There are more than 100 types of unclaimed property.
Though it might initially seem overly complex and overwhelming, there are some simpler ways you can help your institution become more compliant with the laws. This webinar provides an overview of unclaimed property issues for banks, best practices and tips for filing reports, tracking accounts, preparing for an audit, retaining your customers/accounts and more. The program is being presented at the national level and does not reflect state law.
- History and Background of the Law
- Where and How to File Your Reports
- Property Types Applicable to the Law
- Determining and Tracking “Dormant” Accounts
- Service Charges and Fees
- Safe Deposit Box Contents
- New Reporting Deadlines
- Recent State Enforcement Efforts
- How to Prepare for/Avoid an Audit
- Fines & Penalties
- Best Practices & Tips for Retaining Your Customers/Accounts
Anyone charged with managing and reporting unclaimed property including operations officers, compliance officers and auditors.
Valerie Jundt, is Managing Director of Keane’s Consulting & Advisory Services Group. She brings over 27 years of diverse and extensive unclaimed property experience. She has worked extensively with clients from all industries and the various states in resolving compliance issues arising from state audits, voluntary compliance initiatives, enforcement actions and law changes.
Maureen Ferrari brings 18 years of experience in unclaimed property to Keane where she now serves as Vice President of Operations. Her expertise in unclaimed property encompasses compliance and education, claims processing, customer service and call center operations, newspaper advertising, and media relations.
Institute of Certified Bankers: Visit aba.com/icb/membercereview for instructions regarding self-reporting. Estimated credits: 2.5 hours CRCM/CCSR/CPB.
Member price: $265.00 | Non member price $530.00
Member price: $280.00 | Non member price $560.00
Online: Visit the CBA Webinar Catalog
Mail: Click here and mail completed form with check payable to ConferenceEdge to: (Mail at least 10 days prior to event)
4434 W. 29th St., Denver, CO 80212
Phone: Call ConferenceEdge at (877) 988-7526 (credit card payments only)
- Preferred Payment Method: Online
- Please register online or by phone when paying with a credit card
- Payment Must Accompany Registration – Invoices are Not Provided
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.