Financial Services
business process services

SECTOR
Management Consulting - Commercial Sector

SECTOR
Management Consulting - Commercial Sector

financial risk consulting financial risk consulting

SOLUTION
Risk, Controls & Compliance

Unclaimed Property

Guidehouse leverages years of unclaimed property expertise to help our clients with every stage of the escheatment life cycle. We partner with our clients to enhance, design, develop, and deploy a solution that meets the needs of the organization and to help attain regulatory compliance. Guidehouse is the only unclaimed property provider that can support our clients either at specific points in the lifecycle or with end-to-end solutions that encompass the entire life cycle—from data management to tracking, reporting, and outreach—and help drive audit readiness and operational efficiencies across the organization.

 Unclaimed Property 

Data Management and Decedent Identification (Death Audit Services)

Incomplete and erroneous data continues to adversely impact the decedent identification process and expose organizations to fraud, waste, and abuse. Guidehouse maintains an industry-leading decedent identification solution. We are one of only a few service providers certified to obtain decedent data from federal and state government databases, and further enrich these datasets with proprietary data from thousands of additional data sources to capture more than 90% of nationwide deaths. Our advanced machine-learning capabilities also enable us to interpret and extract valuable information from obituaries and death notices that can help to identify lost or dormant beneficiaries.

 

Compliance and Audit Support

Maintaining compliance with Unclaimed Property regulations and navigating third-party audits to reduce potential risk and financial penalties is complex and can present ongoing obstacles. Guidehouse partners with clients to enhance, build, or remediate (e.g., Voluntary Disclosure Agreements) unclaimed property compliance programs. Guidehouse leverages vetted frameworks to perform an end-to-end assessment of an organization’s unclaimed property infrastructure, ensuring adherence to applicable state and federal regulations and industry best practices and identifying gaps and opportunities to improve program effectiveness and efficiency. 

 

Escheatment Services

Gaps in customer data can foster unclaimed property exposure, ineffective compliance, and missed opportunities to know and better serve customers. Guidehouse empowers organizations to centralize data and leverage a holistic view of their customers across the organization to track relevant owner-generated activities. In addition to providing a complete customer view, we track and manage all state regulations and requirements for property classification, due diligence, report filing, and escheatment. Guidehouse can assist organizations with establishing a future-state process that includes evaluation and implementation of a software and reporting process or offer an end-to-end managed service solution to maintain ongoing escheatment compliance. 

 

Location and Outreach Services

Financial institutions often struggle with ineffective and inefficient customer and beneficiary outreach programs, leveraging manual processes to mitigate customer data gaps. Guidehouse combines sophisticated data-driven processes, intelligent automation, and a comprehensive location and outreach solution to streamline workflows and maximize outreach success. Our award-winning contact center can facilitate both customer and beneficiary outreach by mail and phone on behalf of our clients.

Find out how Guidehouse can partner with your company. Contact us at ucp@guidehouse.com

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