Director/Administrator of Unclaimed Property

State of Oklahoma • Oklahoma City, OK

18d • Onsite

About The Position

This is a full-time in office position located at our Unclaimed Property Division, 4841 N Sewell Ave, OKC, OK. The annual salary for this position is based on education and experience. Basic Purpose Each year, hundreds of millions of dollars and hundreds of safe-deposit boxes are turned over to the Office of the Oklahoma State Treasurer Unclaimed Property Division (Unclaimed Property). It's the mission of Unclaimed Property to assist in the return of funds and safe-deposit boxes to their legal and rightful owners and/or heirs. Unclaimed property consists of intangible assets and safe-deposit boxes for which a business (Holder) has had no contact with the listed owner of the unclaimed property and/ or there has been no owner activity by its listed owner for an extended period of time known as the “abandonment period”. Unclaimed property includes: Cash Dormant bank accounts Uncashed checks Stocks or bonds, dividends, and bond interest Insurance proceeds Utility refunds Safe-deposit box contents Royalties Role Overview/Position Summary: An Unclaimed Property Director manages the department and weighs in heavily on the legal aspects of abandoned assets, ensuring compliance with state laws and administrative rules. The key duties include reviewing and advising the State Treasurer and Deputy Treasurer for Unclaimed Property on all aspects of complex claims, internal and external audits, holder compliance, administrative appeals/hearings, promulgation of statutes and rules, and assisting legal counsel in aspects of litigation as it relates to gathering and reviewing related data and information.

Requirements

• Demonstrated knowledge of applicable Oklahoma law.
• Advanced critical thinking, decision-making, and problems-solving skills
• Ability to convey unclaimed property-related terminology and information in non-technical terms
• Ability to understand and solve problems by applying subject-matter knowledge and analytical skills
• Project coordination abilities including the ability to meet deadlines and prioritize tasks
• Ability to manage and triage between projects and shifting priorities
• Excellent interpersonal skills
• Strong organizational and time management skills
• Computer proficiency including MS Excel, Word and data entry
• Must become familiar with the Oklahoma Uniform Unclaimed Property Act, Oklahoma Statutes, Title 60, Chapter 13 (60 O.S. §§ 651 et. Seq) and Unclaimed Property, Oklahoma Administrative Code, Title 735, Chapter 80 (OAC 735:80) and make recommendations regarding Unclaimed Property policies and legislative initiatives as needed
• Ability to work independently
• Excellent writing, research, and statutory interpretation skills
• Experience with the Oklahoma Administrative Procedures Act hearing process.

Responsibilities

• Examine high dollar and complex claims identified for review by analyzing and evaluating records and legal documentation (foreign and domestic), from a variety of sources such as claims from individuals, estates, corporations, trusts, government agencies, law firms, and court documents.
• Collaborate with the Deputy of Unclaimed Property and Claims Auditors to ensure claims are correctly and legally paid or denied
• Provide guidance and advice to Unclaimed Property staff regarding questions from Holders, Heirfinders, Claimants, Public Officials, etc.
• Provide advice to the Deputy of Unclaimed Property regarding internal and external audit questions and ensure contracted auditors comply with unclaimed property laws and administrative rules
• Serve as the point of contact for all commercial and public requests for information contained in the Unclaimed Property database.
• Collaborate with the Deputy of Unclaimed Property to review and track Unclaimed Property Vendor contracts, agreements, renewals, etc.
• Serve as an Oklahoma Unclaimed Property representative to the National Association of Unclaimed Property Administrators (NAUPA) Legal Committee and virtually attend all Legal Committee calls
• Assist the Deputy of Unclaimed Property regarding Unclaimed Property long-term planning, annual goals, proposed statutes and administrative rules and track outcomes
• Make recommendations regarding Unclaimed Property policies and legislative initiatives
• Propose and implement new projects to help modernize and improve the Unclaimed Property Division
• Monitor and investigate best practices in other states' Unclaimed Property divisions for potential implementation in Oklahoma
• Oversee updates to forms, letters, instructions, and forward-facing information to ensure legal compliance
• Represent Unclaimed Property outreach events as needed.
• Perform other duties as assigned or required which are reasonably related to the duties enumerated above
• Monitor bankruptcy filings and prepare claims on behalf of the State Treasurer
• Process garnishment orders from the Department of Justice and other creditors and file the answer with the court (send copy of answer to the Creditor and Garnishee)
• Run and review the annual stock report from KAPS (unclaimed property software) to obtain data needed for the State Treasurer’s Accounting Division to compile the yearly Trend Data Report for Unclaimed Property’s fiscal year-end portfolio valuation.
• Run and review the Unclaimed Property Stock Aging Report to validate the shares that have been claimed by legal owners and/or heirs have been properly transferred.
• Management of Operations Manager and provide appropriate performance reviews and approvals.

Benefits

• State employees enjoy a comprehensive Benefits Package with a generous monthly benefit allowance to offset the cost of insurance premiums for employees and their eligible dependents, a retirement savings plan, 11 paid holidays, and longevity payments.
• Employees earn 15 days of vacation and 15 days of sick leave in the first year of employment.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed