Failed Background Check-help
Got a job offer with a boutique firm, and just learned that I failed the background check.
Situation:
Did an unpaid IB summer internship at a large BB four years ago. The firm didn't recruit at my school, but I was able to get the position from a business contact who was willing to do me a favor. I was fine with the job being unpaid because of the experience, and likelyhood that it would lead to a full-time offer. I didn't have to go through HR processes at all. It lead to a veral offer, but I decided to take a different offer after graduation, and had no problems getting through the background check. I'm not sure if they even checked the internship listed on my application.
I quit my current job two weeks ago after accepting this new position, and listed the BB internship on my employment history. I received notification that the background check could not verify that I worked for the company, and need to provide W2/pay stub evidence. I do not have that information since it was unpaid. The BB HR deparment confirmed to me that they have no record of my employment. I called the managing director that I worked most closely with to ask if he would verify that I worked with the group for 3 months. He said he couldn't do that because I had significant knowledge of the deals the group was working on without going through the necessary FINRA processes. If he acknowledged that I worked with him on deals, it could cost him his job.
What could I possibly do to satisfy HR that I did an unpaid internship 4 yrs ago? I have inside knowledge that only someone who actually worked at the firm would know, but don't want to burn serious bridges by disclosing that information and put people who did me favors in jeopardy.
Anyone have advice? Similar situations?
you should have described it on your resume as informal/unpaid
burn bridges if they can't throw a bone fuck them
Could this MD really not send your new employer an email saying that you worked for them in some capacity without disclosing your specific position? It seems like he could tell them something satisfactory.
Ummm... this smells REALLY fishy to me.
I find it highly unlikely that the MD would give you this reason... namely because having knowledge of an investment banking deal doesn't require FINRA registration... its the act of actually advising (i.e. facing) clients that requires FINRA registration. You also don't have to be registered if you're a short-term intern. If this were the case, all summer-analysts would spend 6 weeks out of their 10 week internship getting licensed.
I think you're fudging the facts here and its actually more egregious that you're describing.
There are so many different ways for you to prove your employment... I find it completely impossible that you worked at a BB bank without HR knowing about it. How did you get in and out of the building if you were working off the record? What ID badge did you use? What e-mail did you use? What network login did you use? Where did you sit? Every piece of equipment, furniture, etc... is inventoried and tagged to an employee of the firm. Thats why everything has some sort of barcode or RFID on it.
This is a bogus story... you probably just lied out right and are now trying to find a way to somehow sell it home.
Agreed. Tell us the real story
Sucks, can you have someone else verify? I would exhaust all options until this thing get resolved. Goodluck and Godspeed
Even though I personally think there is much more too this story and I recommend you divulge, but I do have an idea where all parties can win.
Have the MD who got you the job call up the HR department (vice-versa works).
HR Department: What are your opinions on monsterST? Managing Director: I cannot disclose, but let's just say if I were to rate the weather tomorrow I would give it a 10/10. HR Department: Thank you MD.
Everyone wins!
Large corporations, such as the bulge brackets, don't let MDs hire people "off-the-record," even if it is unpaid. Furthermore, Marcus is right, you certainly don't need to be licensed to work on transactions. Banks get around your lack of license by mandating that you CC a licensed individual on all external emails, though you likely didn't have any. If what you're saying is true and HR indeed has no record of your being an employee, that is a pretty messed up situation. Surely you worked with more than just an MD during your entire internship -- you ought to start reaching out to the ex-analysts that worked with you.
I definitely did not divulge all information in this case, so I guess its understandable that people questioned the validitiy of my situation.
I did not have a personal access badge to the building. I used one of the MD's guest/backup badge. I had no contact with HR, but did have an email account setup, and was privy to deal info. I was able to contact IT to confirm that I did have an username/password, and subsequently got a confirmation letter from HR. I did not have to give up the MD or VP who had worked with me.
For those doubters: BB MD's do offer off the record interships. Not everyone went to a target school where firms recruit, so relationships/networking often times produce such positions. HR records are not always concrete and bulletproof. I also had a dates of employment disupte, because one of my previous employers listed me as actively employed with them six months later than I actually left.
I know that there are plenty of trolls and ficticious posts on these boards, but in my instance I appreciate the comments from those who had useful thoughts.
x
Nyctola-
If your father will verify that you work for him, there should be no problem. No reason to produce IRS forms.
I ran into the issue, because HR at the bank I interned for could not produce verification.(I-9/W2/SSN) I had filled out no paperwork with HR. I had to dig through the IT department and asked them to search for my name and accounts.
If someone at the firm will verbally confirm your employment, you will have no issues. Feel free to ask more questions if necessary. Was a nerve racking 36hrs thinking my offer was exploding because of a 3month intership I did four years ago.
Yea that's total BS regarding the MD and FINRA.
Same kind of thing happened to me so I just gave them my boss's number and that solved it.
How long ago were you with the firm...could IT dept prove that you had an email address?
Also, what was your relationship with analysts/associates? even if they were not your managers, I'm sure that if 3-4 people confirmed they saw you every day, it would help with new firm's doubts. Maybe they could write a letter.
DId you sign a NDA?
Do you still have his ID badge?
I think you need to push this MD a little harder...being employed is more important then being polite (not burning bridges)
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