I got here because one of my customers needs this feature because she works in the financial planning industry. In researching this a little bit, I have found this feature in different places on my Samsung Galaxy S5 and on my Samsung Tablet with v.7.1.1 (which are both on Verizon), but I can't find it on my older Samsung tablet running 4.2.2 or on her new AT&T tablet which appears to me to be a Nexus, but I won't swear on that.
It seems to me that this feature is like a video game where you have to dig around to figure out how to get to the next level. Go thru every menu, turn off the password or pin, turn on the swipe, look for Auto Factory Reset or something like that. Make one change, then back out, lock the screen and test. If you still can't find it, call your carrier tech support, stay on hold while you read a book and have a cup of tea, but above all, be polite.