Escheatment Specialist

The Deposit Services Escheatment Specialist is responsible for the annual filing to all state entities as regulated by law for all Desert Financial Credit Union accounts. This will include cashier's checks, money orders and safe deposit boxes using escheatment software. They are accountable for complying with all federal and local regulations and practice this by, sending due diligence notifications, preparing reports, obtaining and preparing state specific forms, transferring data to media selections, processing payments, tracking incoming responses from due diligence notification, gathering all required executive signatures and ensuring the information is received by the states. The Escheatment Specialist maintains and organizes records related to the annual filing process including electronic backup, general ledger reconciliation and handling returned items relating to unclaimed property.

What you will do here:

Identify unclaimed property or assets within the organization through rigorous research. Analyze financial records, databases, and other sources of information to determine if and what property is subject to Escheatment. Prepare and maintain accurate records of unclaimed property, including details such as owner information, property type, value, and dates of abandonment. Establish, maintain, and routinely provide reports for management and regulatory compliance.

Contact potential owners of unclaimed property through various means, such as written notices, emails, and phone calls. Communicate with internal stakeholders, including Legal, Finance, Lending, Business Services, Credit Assistance and Member Engagement, to gather relevant information and ensure coordinated approach. Conduct due diligence efforts to locate and reunite owners with their property, to minimize amount of funds remitted to the states. Collaborate with external agencies as necessary.

Maintain compliance with state escheatment laws and regulations. In partnership with Leadership, stay updated with relevant legislations and guidelines. Maintain record retention policies for escheatment-related documents and ensure compliance with data privacy and security regulations. Communicate with state agencies to submit required reports, respond to inquiries, and address any issues related to the escheatment process.

Participate in internal audits and reviews to assess compliance with escheatment procedures. Communicate any recommendations for process improvement.

Provide cross-departmental coverage as necessary; responding to operations inquiries via phone calls; conducting research for better process alignment; support on fraud prevention efforts.

Perform all other job duties as assigned.

What you will need:

High School Diploma or GED required.

3+ years working in escheatment or related field such as compliance, auditing, or financial operations required.

3+ years working in a Financial Institution required.

1+ year working with escheatment software (Tracker Pro preferred) and Knowledge of relevant laws and regulations in relation to state reporting; compliance auditing; required.

Ability to prioritize multiple tasks in a deadline-driven environment; possess strong sense of urgency and responsiveness required.

Excellent verbal and written communication skills required.

Excellent problem-solving skills, Organizational skills and attention to detail including critical thinking and decision making ability required.

Strong analytical skills, attention to detail required.

Ability to process high volumes of work efficiently with minimal errors required.

Strong team commitment and strives to promote a team environment required.

Microsoft Outlook Contact Management systems; Microsoft Excel Spreadsheet software and Microsoft Word Processing software required.

We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.

For additional information about our organization, careers, and benefits visit: http://www.desertfinancial.com/careers

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