In this Q&A, we’re featuring Jacob Oennerfors, a seasoned professional with 17 years of experience in the niche field of unclaimed property consulting. Jacob’s expertise spans various industries, and he’s known for his deep knowledge of audit defense, voluntary disclosure programs, and specialized consulting areas.
Q: Tell us about your background and how you got started in the tax industry.
A: Yeah, so originally, I’m from Sweden. I started working in audits for a law firm there, and after I moved to the U.S., I continued in the field. I’ve been in this industry for about 17 years now, specifically focusing on unclaimed property, which is often referred to as an indirect tax—though technically, it’s not really a tax. Ryan is the biggest player in unclaimed property consulting in the U.S., and most of my clients are market leaders in their respective industries. We have a diverse client base, including some of the largest companies in the world, and it continues to grow. Over the years, I’ve developed specialty skills and brought a lot of clients to the Firm.
Q: What specific areas of tax do you specialize in and what led you to focus on these areas?
A: I specialize in unclaimed property, where I focus on audit defense, voluntary disclosure programs (which are like amnesty programs for unclaimed property), and specialized consulting. Some of the more complex areas I handle include gift cards, which can be quite complicated, and unclaimed property in bankruptcy situations. I also leverage my international experience to assist clients with global issues in unclaimed property, which sets us apart from competitors. Our knowledge in these areas is unmatched, allowing us to offer more value to clients than our competitors can.
Q: What is the proudest moment in your career?
A: The proudest moment for me was when I brought in a major client to the Firm for the first time. Ryan has been around for a long time and has worked with many large companies, but I set a personal goal to bring in a big client myself while I was still a manager. It took two years, but I eventually signed a large mining company as a client.
Q: What advice would you give to someone considering a career in tax?
A: I always focus on quality. If something takes longer to do right, then that’s just how it must be. I’m probably not known for being the fastest, but I believe in doing things correctly the first time. Quality is key. Learn the craft and understand the relationship between numbers and the law. It’s not just about knowing the law; it’s also about understanding how changes in the law affect the numbers. Mastering Excel and other technical skills is also essential. In my 17 years of experience, focusing on quality has always been a winning strategy.
Q: What do you find most rewarding about working in this industry?
A: It never gets boring because you’re constantly learning about different industries. One day I’m working with healthcare clients, and the next day it’s auto or fashion. Each client and industry is different, which keeps things exciting. At Ryan, there’s also a lot of intellectual freedom. While some firms may rely on rigid templates for every project, here you’re encouraged to come up with creative solutions, and clients appreciate that. I’ve been able to achieve my goals in new ways, and at Ryan, innovation is encouraged, which is very rewarding.
