Financial Regulatory Check
Verify if a candidate has experience being in charge of financially regulated operations.
By requesting Financial Regulatory checks on all applicants who will have direct access to a company’s or client’s finances or who will be able to authorise payments using our automated online financial related checks, you can reduce the risk of fraud and guarantee compliance.
What is Financial Regulatory Check?
In order to determine whether a candidate satisfies the regulatory requirements to work in specific areas, such as financial services, banking, and insurance, a financial regulatory check looks into their financial history. To assure the highest levels of professionalism and competence and to safeguard the general public, these industries are subject to a number of compliance requirements that must be followed.
Our Financial Regulatory Checks use publicly accessible financial documents and court/legal records to look into people’s past financial behaviour. We can also check to see if your candidate is listed on the register of the relevant regulator or has ever been disqualified from it, as well as see if they have the right licence for the job. This thorough evaluation determines whether the applicant is qualified for the position you are hiring for, and it is especially crucial for positions in the financial services sector.
When to Conduct Financial Regulatory Check?
We suggest conducting Financial Regulatory Checks:
- When appointing and luring new employees into pertinent areas.
- Whenever a current employee is elevated to an executive or managerial position in a related industry.
- As part of ongoing monitoring to maintain compliance with your mandates.
Why to Conduct Financial Regulatory Check?
There are many benefits to conducting Financial Regulatory Checks as part of a screening process:
- Meet your compliance obligations by thoroughly vetting your candidates to make sure they abide by the rules governing your sector. This will shield you from any penalties or fines that might be imposed if it is discovered that staff have broken the rules or are working without a licence.
- Reduce the danger to your company’s finances and workforce by getting a thorough background check on the potential hire.
- By performing due research on all potential candidates, you can guard against dishonest and unreliable candidates or businesses.
Who should conduct Financial Regulatory Check?
We think that as part of a thorough hiring procedure, every company should perform Financial Regulatory checks. Verify the financial condition of your candidates to ensure the security of your company.
When should you conduct Financial Regulatory Check?
Verifying Financial Regulatory records is something we strongly advise doing when interviewing new applicants. This indicates that you have complete faith in their identification and that only the right individuals move on to become employees.
Would you like to find out more about how we identify risk?
You can connect with us through email.