Reply to: Offer withdrawn and looking for feedback

[LondonManc]

I am sure I am being dense but why do they care? Also I am not looking for work between jobs often. I am traveling or sitting in the garden or you know... having a life...

I don't document these events, can I never work for a bank (shame!)

Just talk tulip a bit - had a break for a couple of weeks to sort out things that I couldn't while I was at work then started looking for work.
It could simply be the case that they don't want people who might suddenly not renew and f.o. to "find themselves" or something.

[fragglerock]

I am sure I am being dense but why do they care? Also I am not looking for work between jobs often. I am traveling or sitting in the garden or you know... having a life...

I don't document these events, can I never work for a bank (shame!)

[uk contractor]

Easier just to not have any gaps in the CV. Even if you aren't working for a client, you are working for YourCo

This does not work when you have to produce your contracts though they can see any gaps by the start/end date that's where the fun begins they want to know even 1 month gaps & absolute proof as well!

[fidot]

Easier just to not have any gaps in the CV. Even if you aren't working for a client, you are working for YourCo

[uk contractor]

Fair enough, guess I have been lucky thus far .

Perhaps lucky but I also think they sometimes cough cough nudge nudge wink wink do not bother to do all the checks every single time................

[MrMarkyMark]

4 weeks is only the average if you have passed it all before it also depends on who they use for the checks there are a only a few companies who do this so at various times they get silly busy & it takes way longer than it should!


Took me 5 weeks then my friend went back to the same bank took him 6 weeks even though he had been onsite for 9 months there is no logic to it all!!

Fair enough, guess I have been lucky thus far .

[uk contractor]

My experience is if you have everything in order, it is around 4 weeks for most places.
If you have gaps etc. or if they have to follow up, with regards to missing documentation, it takes longer.



Perfectly doable, depends on your relationship with the client, also, it can help further if you have a true specialist skill set.

4 weeks is only the average if you have passed it all before it also depends on who they use for the checks there are a only a few companies who do this so at various times they get silly busy & it takes way longer than it should!


Took me 5 weeks then my friend went back to the same bank took him 6 weeks even though he had been onsite for 9 months there is no logic to it all!!

[billybiro]

must be really easy to invoke your substitution clause in these places

[MrMarkyMark]

RBS (5-6 week average onboarding process)
RBC (2 month average onboarding process)
Credit Suisse (2 month average onboarding process)
Morgan Stanley (2 month average onboarding process)
Lloyds (5-6 week average onboarding process)
Citigroup (5-6 week average onboarding process)
UBS
Goldman Sachs
JP Morgan

My experience is if you have everything in order, it is around 4 weeks for most places.
If you have gaps etc. or if they have to follow up, with regards to missing documentation, it takes longer.

must be really easy to invoke your substitution clause in these places

Perfectly doable, depends on your relationship with the client, also, it can help further if you have a true specialist skill set.

[pr1]

must be really easy to invoke your substitution clause in these places

[darrylmg]

... its more likely an existing staff member will cause issues & be above suspicion until the financial damage is done

It's always a disgruntled employee, never a contractor.
Probably because we're already disgruntled by the processes before we even get the contract. We're effectively numb to disgruntlement.

[stek]

My recent experience is Coop Bank zero weeks, Bank of Ireland zero weeks.

[LondonManc]

Credit Suisse 4 weeks - know someone who has started there recently.

[uk contractor]

Is this a norm for permanent roles as well ?

Unsure but I know they usually do check all references provided either with HR or the head of HR as well as the police & credit vetting checks.

You can take all that as a given & in addition for some contracts you need the extra documentation I mentioned everytime even on renewals where nothing else has changed some insist on the whole onboarding process (which is slightly quicker the 2nd time).

RBS (5-6 week average onboarding process)
RBC (2 month average onboarding process)
Credit Suisse (2 month average onboarding process)
Morgan Stanley (2 month average onboarding process)
Lloyds (5-6 week average onboarding process)
Citigroup (5-6 week average onboarding process)
UBS
Goldman Sachs
JP Morgan

All require the full monty checks & documentation. Some financial services companies have such undeveloped compliance departments the checks are not mandatory but most of the Tier 1+2 Inv Banks want it all for contractors & most of it for perm roles. There are always exceptions of course I know of one chap who was hired as the head of IT for a well known bank then when they checked him out he failed some of the tests (undischarged bankrupt was one ) & got booted from site a few days after starting!

The requirements are getting way harder but still these same banks do not necessarily check their existing staff which is even worse as its more likely an existing staff member will cause issues & be above suspicion until the financial damage is done

[czakky]

Agents hate it as they lose roles all the time when contractors fail these tests & the client fills it elsewhere but agents also fail to mention in the job ad as they know they will get a smaller response due to many candidates CBAing to go through all of this again & again.

This is so, so true. Early in my career, I had the "privilege" of recruiting in this sector, and it was nothing short of torturous. Add to this my North East accent - very fun in London banking!

From what I can gather on the recruitment grapevine as well, it has got a lot harder the last few years, with the amount of checks getting totally out of hand - which I think this thread shows quite well.