Financial Services Background Checks
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Regulatory Compliance is Key
Background checks for employees and applicants in any industry are important in understanding if the person is the right fit for the position available. These checks must adhere to various federal, state, and local laws. But for those who work in the financial industry, there are additional rules and regulations. In fact, background checks for those in the financial services industry are overseen by several governmental agencies, such as the Federal Deposit Insurance Corporation, each of whom have their own rules and regulations for both employers and employees.
Financial institutions are faced with increasing pressure, heightened security measures, and “know your customer” legislation. Compliance with these strict regulations is required or institutions may face severe sanctions. Employees working in the insurance, banking, or other financial services industries help their clients with their financial futures. And with the level of confidential information shared, they are understandably held to even higher levels of scrutiny to reduce exposure to money laundering, embezzlement, accounting fraud, terrorist activities, identity theft, and more.
Financial institutions must protect not only their employees and clients, but also the sensitive data with which they have been entrusted. Hire Image works with financial institutions to create the best program, focusing on criminal background checks, credit checks, credit history, drug testing, watch lists, and other searches to help combat the various threats particular to the industry. Our recommended background screening services for the financial industry include:
Financial Professional Search
- Address and Social Security Number Trace
- Bankruptcy Search
- Credit Report
- County and/or Statewide Criminal Searches
- County and Federal Civil Searches
- Education, Employment & Professional License Verifications
– Verification of the highest degree (or diploma) attained by the applicant.
– Verification of the last 10 years employment history.
- Federal Criminal Search
- Financial Industry Regulatory Authority (FINRA) Search
- Liens and Judgments
- Nationwide Criminal Database & Sex Offender Registry Search
Additional Suggested Items:
- Continuous Criminal Monitoring
- Drug Screening
- Due Diligence Investigations to identify risks in potential business relationships
- FINRA Compliance Search/Monitoring packages available to verify accuracy of Form U4 information
- Motor Vehicle Records
- News & Publications Search
- Social Media
- Verification of Professional License
- Verification of Professional Associations & Memberships