Apr 9, 2024
Dormant accounts often take a backseat to more pressing compliance matters until that one time each year comes when you are required to report this inactivity and transfer any assets to your state through the escheatment process. However, dormant accounts can present a significant risk to your institution and require increased monitoring and scrutiny.
In this informative session, we will provide best practices for managing your unclaimed funds compliance program, including tips for dormant account due diligence. We will discuss procedures for communicating with your accountholders through multiple methods to avoid their frustration and reputational risk to your institution and provide the steps to take to ensure funds are properly escheated to your state. You will also receive tips for proactively educating your accountholders to avoid dormancy status.
Tuesday April 9th, 2024
11:00 am - 1:00 pm EST
What You'll Learn
Understanding your institution’s responsibilities under the Uniform Unclaimed Property Act
Defining key terms of dormancy, unclaimed property, abandoned property and escheatment.
Obtaining filing information from your state
Documenting communication efforts with dormant accountholders
Managing your dormant/unclaimed funds compliance program to avoid or prepare for a state audit
Who Should Attend
This informative session is designed for deposit operations staff, safe deposit box personnel, Compliance Officers, Internal Auditors, and anyone responsible for handling the dormant account and escheatment process.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 years of experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized the implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits, and exams, and presented for numerous state associations.
Available Upgrades
$120.00
AyZha Hazelwood, Education Meeting Coordinator
Ahazelwood@indiana.bank
317-387-9380