Background check at hedge fund
Hey all. I'm going to be interviewing for quant positions at some hedge funds in the next few months. I have some questions regarding the background check process. Is the background check conducted after an employment offer has been made or before? What background check company is typically used? I've had some inaccuracies reported in my background that I would like to resolve.
Thanks!
Honestly your question sounds very sketchy.
No one will be able to tell you what background company “hedge funds” use as it will be different fund by fund (similar to benefits or your 401k provider).
Also, I don’t understand what inaccuracies can pop up, a background check should just be reporting facts.
What inconsistencies or inaccuracies are you worried about? The way you ask this seems much more like you are trying to hide information or even straight up lie.
I have a prior criminal record (Charges filed but were dismissed) that has been sealed, but last summer a background check company failed to update their system and reported the record, and also reported it incorrectly (they reported me as having pending charges when they were dismissed over a year ago), causing me a lot of issues with the company requesting the background check. I don’t want to run into this situation again, so I wanted to correct this information with a background check company before it’s requested.
you’re a criminal
Checks are usually done after an offer has been made but before you join.
Check companies vary, don't remember their names, but Kroll comes to mind.
Some funds will informally start conducting reference checks before an offer is made.
Ah I see.
I have a prior criminal record (Charges filed but were dismissed) that has been sealed, but last summer a background check company failed to update their system and reported the record, and also reported it incorrectly (they reported me as having pending charges when they were dismissed over a year ago), causing me a lot of issues with the company requesting the background check. I don't want to run into this situation again, so I wanted to correct this information with a background check company before it's requested.
The state law in NYC forbids employers from inquiring about or using dismissed charges or expunged records in making a hiring decision, but I'm still concerned about how a background check company might misrepresent information based on my previous experience.
Assuming you had counsel to seal those records, I'd reach to them and make sure you're not in a position where this is coming up. Same thing happened to me but I didn't even have charges filed - just press them or get written records from the court system you were charged in saying nothing happened.
After offer is made but before you actually begin. Having a record sealed isn't actually meaningful in the modern internet age. These background check operators maintain independent databases of criminal arrest records.
I am not sure if there is any legal remedy for this. Best option is you background check yourself using various services and talk with a lawyer about options if your record remains in their database.
I sued a background check company for reporting my sealed record and received some compensation. This particular background check wasn't for an employment situation. If I was denied a job because of a background check report reporting a sealed record, then according to the NYC employment lawyer I spoke with, the background check company would have violated federal and state laws, and would be liable for damages, and the hiring company themself may also be liable depending on how they handle the situation.
super sketch but usually post offer but pre start date
Idk why people think it's sketchy (I think implying that I'm trying to do something fradulent?). What kind of fraud could I possibly commit by knowing what external background check companies are used?
By the same logic, what does it matter if you know which company will do it? Do you plan on calling them and pleading your case? What you should realistically be prepared to do is be upfront about the charges and explain, in detail, the events that led to their dismissal. If the company(s) still elect to not move forward on an offer it's because, despite being dismissed, they believe you are a liability to the reputation or image of the firm. You can claim state/federal law protection but that's between you and the background check companies.
And honestly, the fact that you are so adamant about it means you likely did something very serious and barely got off on a technicality. And something tells me it's not going to be a clear explaination on why the charges were dismissed.
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