More help is at hand for screening candidates
A NEW publication to assist employers in the financial services sector to screen potential job candidates has been launched by Standards Australia.
The Handbook for Reference Checking in the Financial Services Industry, together with a new accompanying Employment Screening Handbook has been developed in close collaboration with the Australian Securities andInvestments Commission (ASIC).
Together, the handbooks can assist the financial services industry to implement tighter controls on recruitment processes, according to Standards Australia chief executive John Tucker.
“They will help industry to put in place measures that will reduce the risk of individuals using fraudulent and deceptive means to gain employment, advancement or other benefits to which they may not be entitled or suitably qualified.”
They are also intended to assist employers “reduce the risk of potential security breaches and ensure the identity, credentials and integrity of staff and contractors”.
“The illegal, unethical or negligent actions of a single staff member or contractor can result in major financial, performance or safety-related damage to the reputation of any organisation,” he said.
“Consumer confidence is critical to the ongoing growth of industry, and an important part of this confidence is trustworthiness and honesty of an organisation’s employees.
“The Handbook for Reference Checking in the Financial Services Industry provides guidance on obtaining relevant, factual, accurate and balanced information through rigorous reference checks.
“The handbooks will provide a framework for significantly reducing the recruitment and/or movement of unsuitable candidates both between and within organisations.”
— Liam Egan
Recommended for you
Two commentators have shared why cultural alignment can be the biggest deal breaker when it comes to advice M&A and how to ensure a successful fit.
With an abundance of private market options coming to market, due diligence becomes increasingly important as advisers separate the wheat from the chaff, adviser Charlie Viola has said.
The Treasury has launched a consultation into how the $47 million special levy for the Compensation Scheme of Last Resort will be funded.
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
