Reply to: Resonable / legal Requirement?

[BlasterBates]

"They were checking I wasn't taking a long holiday at her majesties pleasure or on a sight seeing trip in Afghanistan." - my SC clearance covers this sort of thing.

The consultancies are liable if you turn out to be a "wrong un" therefore they do due diligence. These will be internal formal procedures. You can always refuse but you risk losing the contract.

[ladymuck]

I have worked for many banks and have been checked/asked about the following:

Full check for unspent convictions. Some roles may require you to declare spent convictions.
Credit check
Academic qualification check.
Work references for past 3-5 years.
Details of any directorships held.
Details of any investments held.
Explain any gaps in your CV longer than 3 months.

The investments one is good one to make people aware of.

I know people who had significant shareholdings and because their client didn't like the platform / broker / whatever they were using, they were expected to sell hundreds of thousands of pounds worth of investments built up over decades and switch to an approved provider. The cost of selling / rebuying with all the CGT and fees made the contract untenable.

Dunno why some financial institutions don't like certain platforms and think that you're quite happy to wipe out your retirement nest egg to work with them.

[TheDude]

Interesting, thanks northernladuk. I've never contracted in the financial sector so not heard of that level of scrutiny before. Well, if its the norm in some industries then I've learnt something new and will bear that in mind in future.

I have worked for many banks and have been checked/asked about the following:

Full check for unspent convictions. Some roles may require you to declare spent convictions.
Credit check
Academic qualification check.
Work references for past 3-5 years.
Details of any directorships held.
Details of any investments held.
Explain any gaps in your CV longer than 3 months.

[northernladuk]

Interesting, thanks northernladuk. I've never contracted in the financial sector so not heard of that level of scrutiny before. Well, if its the norm in some industries then I've learnt something new and will bear that in mind in future.

Brief article on it here. It's very a very general overview and there are other different steps involved depending on who's screening you, what they throw up i.e. the gap in employment and so on but should give you an idea what the process might look like.

https://www.contractorcalculator.co....screening.aspx

[Grant Holman]

and you'll keep it if you don't comply??
yeh, - right.

I didn't comply and I have kept the job, got an email from them this morning saying compliance is passed. Refused to send 8 months worth of bank statements so they accepted a declaration from my wife simply confirming that I was unemployed for the period and living at home with her.

Given what nothernladuk has said about his experiences in finance I'll bear this in mind it future and (grudgingly) accept that I may have to give detailed financial data in future.

[Grant Holman]

No because it wasn't employment. Have I had it for a gig. Yes, every financial gig I've been in. They want to see your statements and the like to make sure you don't have gambling debts and won't be tempted to pilfer their coffers. It happens a lot.

https://www.cheshire-live.co.uk/news...e-20k-25669138

If it happens why wouldn't they check it? They are legally obliged to do certain checks by their insurance company let alone their own risk people.

Interesting, thanks northernladuk. I've never contracted in the financial sector so not heard of that level of scrutiny before. Well, if its the norm in some industries then I've learnt something new and will bear that in mind in future.

[northernladuk]

Are you saying you've personally been subjected to demands to forensically analyse your personal spending habits as a condition of employment?

No because it wasn't employment. Have I had it for a gig. Yes, every financial gig I've been in. They want to see your statements and the like to make sure you don't have gambling debts and won't be tempted to pilfer their coffers. It happens a lot.

https://www.cheshire-live.co.uk/news...e-20k-25669138

If it happens why wouldn't they check it? They are legally obliged to do certain checks by their insurance company let alone their own risk people.

[hobnob]

"hth bidi"?

That's short for "Hope this helps, but I doubt it".

[sadkingbilly]

Easy, tiger. I already have the 'gig'. Simple.

"hth bidi"?

and you'll keep it if you don't comply??
yeh, - right.

[Grant Holman]

Oh FFS> it's no big deal. you either:
do it, if you want the gig, or,
don't do it if you don't want the gig.
simple.

hth bidi.

Easy, tiger. I already have the 'gig'. Simple.

"hth bidi"?

[sadkingbilly]

Are you saying you've personally been subjected to demands to forensically analyse your personal spending habits as a condition of employment?

Oh FFS> it's no big deal. you either:
do it, if you want the gig, or,
don't do it if you don't want the gig.
simple.

hth bidi.

[Grant Holman]

... did you suddenly start spending a fortune at the local wine merchant, losing thousands in casinos, who knows. They have a risk profile to meet ...

Are you saying you've personally been subjected to demands to forensically analyse your personal spending habits as a condition of employment?

[SussexSeagull]

Makes me laugh when someone thinks of this stuff four months into a contract!

I once had a similar request and ended up having some vouch for me. Slightly farcical, TBH

[northernladuk]

"They were checking I wasn't taking a long holiday at her majesties pleasure or on a sight seeing trip in Afghanistan." - my SC clearance covers this sort of thing.

It might for one groups requirement but another group have a risk profile to meet for different reasons. You might be SC cleared for the MoD but you have to go through the whole process again for police clearance is one strange example. Doesn't make sense but that's the way it is. They are two examples but there will be other elements, did you suddenly start spending a fortune at the local wine merchant, losing thousands in casinos, who knows. They have a risk profile to meet and they need to do their diligence.

[Grant Holman]

"They were checking I wasn't taking a long holiday at her majesties pleasure or on a sight seeing trip in Afghanistan." - my SC clearance covers this sort of thing.