Do I Require a DBS Check to Work in Finance?
Most places of employment nowadays require DBS Checks and working in the Financial Sector is no different. You may wonder what type of DBS Check you will require, and may wonder why you need one? This article will help to answer these questions.
If you want to work in finance, the DBS Check will be vastly different compared to a person who wants to work with children or vulnerable adults.
How Do I Apply for a DBS Check?
One of the best ways to apply for a DBS Check is online. By applying online, you are prompted to complete all sections of the form, so you will hopefully not miss any sections that could result in an invalid form. You will not experience your form getting lost in the post or experience postal delays. If you have any queries, it is much quicker and efficient for DBS to respond online, rather than manually searching through paper copies. It can be a good idea to collect all the documents you need prior to filling out the form. If you are applying for a Standard or Enhanced Check it will be your employer that needs to request this on your behalf. Individuals can only apply for Basic DBS Checks.
What Checks are Required to Work in Finance?
- A DBS Check – Typically for roles such as a director, partner, Chief Executive, Chartered Accountant and Certified Accountant you will need a Standard DBS Check. It may be that as part of your job you will be conducting a controlled function of the Financial Conduct Authority. You may be a senior member of a regulated firm; you may be responsible for the company’s systems and controls; or you may be required to ensure compliance with the Financial Conduct Authority’s rules and regulations.
- An Adverse Credit Check – this will check your credit history for late or non-payments. You credit history may show as a severe adverse credit history if you have an Individual Voluntary Arrangement (IVA); a County Court Judgement (CCJ) or Bankruptcy. This can be important for employers to check if you are going into a position with other people’s accounts and valuables. This is a different check to a Credit Report that lenders request, as this is not relevant to the position.
- An Identity Check – You will need to use proofs of ID that are government sanctioned to confirm your identity. Your identity check may search for information held by credit agencies, the electoral roll, and the telephone database. Checking ID can prevent people avoiding authority detection, people hoping for dishonest gain, people escaping financial liabilities, and people hoping to access sensitive documents.
When people work in a bank, building society, or for an accountants, they are dealing with other people’s finances, investments, assets, and taxes. It is therefore necessary to check people who want to work in finance, as thoroughly as possible to safeguard clients, the business and its reputation, and other members of staff.
