Senior Manager, Unclaimed Property & Escheatment (Remote)

First Citizens Bank•Raleigh, NC

10h•Remote

About The Position

This is a remote role that may only be hired in the following locations: Phoenix, AZ or Raleigh, NC. We are looking for candidates who live within a commutable drivable distance to our Phoenix, AZ or Raleigh, NC office. The Senior Manager of Unclaimed Property & Escheatment will lead the bank’s enterprise-wide unclaimed property compliance program, ensuring adherence to complex multi-state regulatory requirements governing abandoned financial assets (e.g., deposit accounts, cashier’s checks, official checks, gift cards, and safe deposit box contents). This role is critical in managing regulatory risk, audit exposure, and financial liability while partnering across Operations, Finance, Legal, Compliance, and Consumer/Commercial Banking teams. The position requires deep expertise in banking products, escheatment lifecycle management, and regulatory expectations from agencies such as state unclaimed property divisions and regulatory agencies.

Requirements

Bachelor's Degree and 8 years of experience in Bank Operations including management OR High School Diploma or GED and 12 years of experience in Bank Operations including management
Understanding of accounting, accounting practices, and banking regulations
Knowledge of Windows and various applications such as Access and Visio

Nice To Haves

Leadership experience in Unclaimed Property & Escheatment.
Large financial institution experience.
Proven experience managing a team in multiple locations. Ability to motivate, mentor, and coach staff. Ability to lead through change.
Experience with work transformation and leading change management.
Experience in leading process improvements. Ability to manage timelines, resources, and deliverables.
Excellent verbal, written, and interpersonal communication skills.
Strong organizational and time management skills.
Strong analytical and problem-solving skills, demonstrate success in managing by metrics, be detail oriented, able to multitask and function in a fast-paced environment.

Responsibilities

Own and lead the bank’s unclaimed property compliance framework, governance model, and policy administration.
Define risk-based strategies for identifying, tracking, and reporting dormant and abandoned property across all lines of business.
Provide executive-level insight on unclaimed property liability, financial exposure, and reserve adequacy.
Oversee compliance with all state unclaimed property laws across deposit products, payments, lending, trust, and wealth management accounts.
Lead timely and accurate filing of multi-state reports, including dormancy tracking, due diligence mailings, and remittance.
Ensure proper handling of safe deposit box escheatment, including inventory, transport, and state delivery requirements.
Maintain compliance with record retention and documentation standards required for regulatory review.
Interpret dormancy rules for different product types, including: Demand deposit accounts (DDA), savings, and time deposits; Official checks, cashier’s checks, and money orders; General ledger, loan-related credit balances and overpayments; Trust, custody, and wealth management accounts.
Partner with product owners to ensure proper classification and tracking of reportable property.
Serve as primary liaison for state unclaimed property audits and third-party contract auditors.
Support regulatory exams where unclaimed property is in scope.
Lead audit defense strategies, including data validation, documentation readiness, and settlement negotiation.
Identify historical exposure and lead voluntary disclosure agreements (VDAs) and remediation initiatives.
Collaborate with Operations, Finance/Accounting, Compliance & Legal, IT/Data, and Consumer & Commercial Banking teams.
Provide guidance on escheatment implications for new products, mergers/acquisitions, and system conversions.
Enhance automation and controls within core banking systems and UP platforms.
Improve data quality, audit trails, and reporting capabilities.
Implement tools (e.g., Tracker, UPEnterprise) for scalability and compliance efficiency.
Develop dashboards and KPIs for executive reporting and regulatory readiness.
Oversee compliant due diligence outreach to customers prior to escheatment.
Ensure customer communications meet regulatory requirements while maintaining positive customer experience.
Coordinate reactivation processes for accounts reclaimed prior to reporting deadlines.
Build and lead a high-performing unclaimed property team.
Provide coaching, regulatory training, and career development opportunities.
Establish performance metrics aligned with compliance, accuracy and timeliness.