EmployeeScreenIQ

Any job seeker applying for a financial services position, or any employer looking to fill an opening in that industry, should be aware of the importance of background checks.

During the past 10 years, no other industry has been affected more by employment screening regulations than the financial services industry. The US Patriot Act, Sarbanes Oxley requirements and FDIC guidelines are just some of the government directives that require the attention of those in the industry.

Here are some sample background checks candidates for positions in the financial services industry may undergo. Visit http://www.employeescreen.com to learn more.

• Social Security number trace - This procedure, which also includes an address history search, authenticates that the Social Security number an applicant provides is associated with an individual of the same name and birth date. The Social Security number trace reveals addresses that are used to select court jurisdictions in which to check for criminal records, and also will reveal any aliases.
• Employment verifications - This verifies information on an applicant's resume, including dates of employment, starting and ending positions and salaries, reason for termination, and eligibility for rehire. It also may include interviews with former supervisors.
• Education verifications - This confirms the schools the candidate attended, diplomas they received, degrees and certificates they were awarded and any additional information available.
• County criminal record search - This consists of an on-site manual search for the superior, upper, lower and municipal court records available in each county. These records will indicate whether or not a candidate has had a felony, misdemeanor or infraction within the last seven years or longer. The end result includes date of arrest, date of filing, charges, level of charges, disposition date, final disposition of charges and any sentence or penalty.
• Federal criminal record search - Cases found through these searches typically involve violations of the Constitution or federal law, including things such as tax evasion, embezzlement, bank robbery, kidnapping and mail fraud. Federal criminal convictions will not appear in state or county felony and misdemeanor court record searches.
• National criminal record database search - These aggregate databases are comprised of millions of records from various sources, including county court houses, state departments of incarcerations, state record repositories, probation departments, townships and sex offender registries.
• Pre-employment credit report - These reports, which are provided by one of the three nationwide credit bureaus, offer insight into an applicant's reliability and a sense of their personal responsibility. Reports will include derogatory credit information; public filings, including bankruptcies, liens and judgments; account standing with creditors; and previous address history.
• Homeland Security Check - This cross references an applicant's name against more than 90 worldwide known terrorist and fugitive databases that include individuals, organizations and companies considered to be a threat to global and national security. The Homeland Security database is updated daily as various lists are modified.
• Substance abuse screening - This can include physical exams and urine, hair or saliva testing for various substances.

Applicants for positions in the financial services industry also may undergo background checks relating to professional license verification, financial sanctions searches and the Office of Foreign Assets Control.

Labels: Sample background checks