How do banks in Canada conduct background check for SA?
- Are there drug tests (would they test for something like cannabis although it’s legal)?
- Do I need to send a transcript before I start? What if I slip my gpa in a year? How can they even verify that?
- Do they care about incorrect dates on previous jobs? (3 months longer than what I wrote in the original resume) I was laid off due to Covid but still put I worked there.
- Do they call your references? Will they call off the list ones?
Based on the most helpful WSO content, here's what you need to know about background checks for summer analyst (SA) roles at banks, including some specific points:
Drug Tests:
Transcripts and GPA Verification:
Incorrect Dates on Previous Jobs:
Calling References:
For more detailed information, you can refer to the WSO thread on background checks: https://www.wallstreetoasis.com/forum/investment-banking/everything-you…</a">Everything You Need To Know About Background Checks and Lying on your Resume.
Sources: Want to get me on the phone? Here's how - a networking overview., Summer analyst background check & employment verification, Being Fired and being upfront about it, I need your advice, Everything You Need To Know About Background Checks and Lying on your Resume
Canada isn’t really like the US where there isn’t like public information for these things like FINRA. However, there’s a lot of under the table reference checking that happens without you knowing it because the street is so small. You may get dinged and you may not even know why, but the real reason could be that they called your past employer that’s why you really gotta be super careful and if you’re gonna do something like this make sure everybody’s story lines up with yours.
The street is really small in Toronto. I’ve heard stories about people pretending to be employed still after getting fired and teams, call their team to verify and it would obviously lead to embarrassment. Just about things the way, and if you’re gonna lie, make sure other people are gonna lie for you.
If you didn’t get a return off for a big five , just be honest, don’t make up a bullshit story. If they know somebody at your team, they will call them. Everyone does it and I’ve been burned as well.
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