Unclaimed Property Analyst - Toronto, Canada - Foresters Financial Services, Inc.

Foresters Financial Services, Inc.

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Career Opportunity

Role Title

Unclaimed Property Analyst

Purpose of role

The Unclaimed Property Analyst will work on behalf of Insurance Operations to establish and maintain procedures consistent with applicable US and Canadian Unclaimed Property laws, investigate and help resolve unclaimed property issues.

The Unclaimed Property Analyst will assist in creating and maintaining adequate reporting, as well as adhere to compliance related deadlines.

The Unclaimed Property Analyst will work with other departments to investigate, help locate and contact payees who have funds owed to them, ensure accuracy in escheatment and reporting, conduct lost policy searches, and interact with examiners as required for audit purposes.

Job Description:

Key Responsibilities

Ensure all unclaimed property for Foresters Financial Insurance Operations is handled, reported and escheated in compliance with state and provincial unclaimed property regulations. This includes any companies managed by Foresters Financial, such as Foresters US and Canadian branches, Foresters Life Insurance Company, and Canada Protection Plan, and others as needed.
Maintain strict timelines according to state due dates
Cleanse and validate payment data and prepare report filings
Request and prepare files for all stages of escheatment cycles
Responsible for working with state/provincial government and vendors to identify inforce certificates and any resulting claims
Assist Operations departments in the identification of unclaimed property and movement of unclaimed property funds to unclaimed property accounts
Update and maintain systems tracking and document unclaimed property activities, prepare due diligence letters in accordance with regulations and manage outstanding cheques.
Responsible for producing reports and metrics on unclaimed properties to leadership and Finance on a recurring basis
Assist with external unclaimed property/escheatment audits and internal department audits
Ensure all journal entries are entered timely and are appropriately supported and accurate
Assist in identification, creation, and implementation of process improvements
Reconciliation of unclaimed property account(s)
Oversee Operational unclaimed property process and be the contact for all state and province inquiries and member/policyholder inquiries related to unclaimed property
Identify discrepancies in escheatment and accounts and resolve
Ensure processes are in compliance with state Lost Policy Finder programs
Inform and educate other Operations Departments about unclaimed property
Create and update procedural documentation on new state/provincial regulations
Performs other duties as assigned

Key Qualifications

Postsecondary degree or diploma in business, finance or related field and equivalent working experience
3+ years of progressive knowledge in unclaimed property, operations principles, insurance industry and fundamental accounting
Knowledge of Microsoft Office suite of products. Strong Excel and Word skills required.
Excellent organizational and attention to detail.
Ability to work with and communicate to thirdparty vendors, operational teams, Finance and Finance Management Operations department
Team oriented. Effective selfstarter with excellent interpersonal skills.
Strong operational decision making, research, and data analysis skills.
Excellent communications skills, both verbal and written. Facilitates factbased decision making.
Approachable, passionate, solutions finder with proven ability to identify and implement business process improvements.
Ability to initiate and drive projects/initiatives from conception to completion with mínimal guidance or follow ups.
Experience working with multiple stakeholders at all levels of the organization.
Ability to handle situations where information is difficult to obtain, complex or ambiguous.
Demonstrated independent ability to prioritize, multitask and work to tight timelines.
Strong sense of personal accountability, teamwork, professional discretion and adaptability to changing business needs.

LI-Hybrid

Equal Opportunity Employment and Inclusion - _at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants.

We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves.

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- in advance of your appointment._