working in FS

[julian]

Re: working in FS

It is not worthwhile avoiding a direct question, as they will accuse you not only of the issue, but of lies. The trouble is that you could start and the vetting may come later. The vetting may also be repeated at regular intervals, and it could be in your contract to report any debt issues when they arise, as they may want to limit access or even 'retire' you.

As said above, some financial institutions always check and so do companies who subcontract to the institutions. Many other non FS companies also check, just in case they send somebody to do a job and the client refuses to let them do it as they may have access to valuable information and being in debt makes you open to bribery and corruption. Oh no it doesn't. Being in debt probably occurs because you are not corrupt.

Good luck. I hope it works out.

[DEBTFREE1DAY]

Re: working in FS

niddy, I guess you get told directly, but I have sent u a pm

Thanks

[mgfboy]

Re: working in FS

From a FSA perspective, they are only concerned if your a IFA and then only if you have CCJ's or bankruptcy's. This also applies to consumer credit licenses, but any employer does have to take a view on your fit and proper status and they are normally harsher than the FSA.

[julian]

Re: working in FS

From a FSA perspective, they are only concerned if your a IFA and then only if you have CCJ's or bankruptcy's. This also applies to consumer credit licenses, but any employer does have to take a view on your fit and proper status and they are normally harsher than the FSA.

...unless you are trying to get a job with the FSA itself, when they are super strict, and even want to know relatives and associates indiscretions.

[CleverClogs (RIP)]

Re: working in FS

...unless you are trying to get a job with the Fundamentally Supine Authority itself, when they are super strict, and even want to know relatives and associates indiscretions.

On the basis that someone who could be bribed or blackmailed could not be relied upon to remain sufficiently supine?

[SA Gold]

Re: working in FS

Julian raises a good point about the possibility of the vetting process starting after you have been in the job for a while - something which is flawed in my opinion.
I don't see why an employer can't do all the checks before making an offer. I appreciate the bit about keeping them informed but if you employ someone there should be no more checks per se in my opinion.

Oscar - Agreed. Many people have defaults as a result of being made redundant and then when a chance of a job comes along it's held back because of one the effects of the last one. Nightmare!

[julian]

Re: working in FS

Vetting can take many months, and financial vetting may be just one part of it. Some jobs repeat every vetting every 5 years or they could decide to introduce vetting for incumbent and new staff.

If you are in a job that requires vetting, and for whatever reason you have money problems - could be because they don't pay enough - you can be placing your job on the line.

That is why the 'Attachment of Earnings' threat is powerful, and why it is a real problem when people write to, phone or leave messages at work.

[DEBTFREE1DAY]

Re: working in FS

I agree Julian, although for me personally I am not really in the place where I am being pursued. one of the debts is unenforceable, 1 has gone away and is nearly 5 yrs since I have paid anything, and 1 have offered me a full n final which I think I will take

cheers

[mgfboy]

Re: working in FS

[QUOTE=julian;287707]...unless you are trying to get a job with the FSA itself, when they are super strict, and even want to know relatives and associates indiscretions.[/QUOTE

So they reject you on the basis of credit history and how can they ask you to disclose other peoples history without their authority?

Saying that I hate to say this if a guy wanted to work for me , when I had the brokerage and had my current credit history I probably wouldn't employee them

[SA Gold]

Re: working in FS

If you are in a job that requires vetting, and for whatever reason you have money problems - could be because they don't pay enough - you can be placing your job on the line.

Sure, its an area to tread carefully although government vetting is all about honesty - are you who you say you are? I know people with pasts far from perfect and have been passed by the relevant authorities. Why? Because they have been open and honest about them. Miss something out, or lie and you've got no chance.

[julian]

Re: working in FS

"government vetting is all about honesty - are you who you say you are?"

Depending on the level and the dept, it stretches further than that. It is more of the case, you appear to be honest, but can we trust you to stay honest. What will happen to the country if we are wrong?

If you have a mortgage and debt and are finding it hard to keep up with payments, can we trust you not to trade what you learn on the job for financial benefit or influence?

Is it dishonest to use credit cards/loans and then fail to pay them back in accordance with the imposed schedule? If so many of us fail. Or are there different shades of grey? 50 perhaps?

[The Tech Clerk]

Re: working in FS

old military vetting was 2 types

1. Negative

2. Positive

depended on the area of military and equipment you were on.

maybe they still do that in civil departments?

[julian]

Re: working in FS

Both of these require you to answer with specific financial information required if you are having difficulties. After that there is a Spanish Inquisition.

There are also other checks against the references you give and with the Positive not only you, but anybody you know may be questioned about you.

Then you get a job that pays the minimum wage, but you may get an extra allowance of £1200 pa, if you are lucky enough to work on really important work. Unfortunately you can never tell anyone what you do, so your cv looks pretty bland.

[DEBTFREE1DAY]

Re: working in FS

started......nobody has frog marched me off the premises yet

tahnks for all your help

[julian]

Re: working in FS

Glad to hear you are settling in. Good luck.