Background checks have become standard practice for many companies before hiring new employees. As one of the largest financial services firms, Fidelity Investments also conducts background checks on job candidates. There are several key things to know about Fidelity’s background check policy and process.
This article will explain what kind of information Fidelity background checks cover, how long the checks take, what disqualifies candidates, and how to prepare for the process. Understanding Fidelity’s background screening will help job seekers better navigate the hiring process at this major investment firm.
With trillions in assets under management and tens of thousands of employees, maintaining high ethical standards is critical for Fidelity. Thorough background checks help ensure the company brings on people of integrity. As a job applicant, being upfront and honest during the hiring process is essential.
The background check is just one step in onboarding with Fidelity, but it’s an important one. Knowing what to expect can lead to a smooth transition into a career with an industry-leading investment firm.
Fidelity background checks cover criminal, education, employment history
Fidelity Investments conducts fairly extensive background screenings of new hires that covers several aspects of a candidate’s history and credentials. Areas commonly examined include:
– Criminal record – Felonies, misdemeanors and related information surfaced through court database searches.
– Employment history – Confirmation of prior job titles, duties, employment dates, salaries and eligibility for rehire.
– Education – Confirmation of degrees obtained, fields of study, dates attended.
– Professional licenses – Verification of current licenses required for position. Checks disciplinary records.
– Credit history – Evaluation of candidate’s financial responsibility. May include civil judgments, bankruptcies and late payments.
– Sex offender registry – Check of national database for inclusion on registry.
– Global watchlists – Check for inclusion on lists of sanctioned individuals.
The depth of the background screening often varies based on the level of the position. Those in higher risk or sensitive roles can expect more extensive checks.
While Fidelity does conduct drug tests and medical exams for some positions, those are normally separate from the background screening process.
Fidelity background check process usually takes 5-7 days
Fidelity Investments aims to conduct background checks in a timely manner so as not to slow down the recruitment process. Once a conditional offer has been extended, Fidelity’s background check partner will begin the screening process.
Most background checks take between 5-7 business days to complete. Some can take up to two weeks if additional information needs to be gathered or validated.
The process is primarily conducted online. Candidates will receive a link to provide information and authorize the background check. This includes consenting to contact current and former employers, schools, licensing agencies and other entities as needed.
For criminal history, the screening firm will search court records in jurisdictions where the candidate has lived, worked or gone to school. Multiple national databases are also checked.
Fidelity aims to complete the background check before a new employee’s start date. But in rare cases where results are still pending, new hires may need to begin working pending completion.
Issues like criminal convictions could disqualify candidates
While most candidates pass Fidelity’s background screening process, some issues uncovered during the check could lead to disqualification. Common reasons for rescinding a job offer include:
– Criminal convictions – Felonies or relevant misdemeanors, especially crimes involving dishonesty.
– False credentials – Fake or embellished degrees, professional licenses, prior titles.
– Employment history issues – Job hopping, terminations, gaps.
– Credit problems – Bankruptcies, tax liens, judgements.
– Failed drug test.
– Disciplinary actions – Suspensions of professional licenses.
– Acts of workplace violence or harassment.
– Inclusion on sanctions lists.
For past minor offenses, Fidelity will often take a holistic look at a candidate’s situation to determine employability. Positions involving financial transactions or fiduciary responsibility generally require a higher degree of scrutiny.
If a conditional offer is rescinded, candidates will receive a copy of the background check report and a pre-adverse action notice under the Fair Credit Reporting Act. This allows individuals the opportunity to dispute any incorrect information.
Disclosing issues upfront is recommended
Since Fidelity will likely uncover all relevant background information anyway, it is best for candidates to be upfront about any potential issues early in the hiring process.
Trying to hide past problems almost always backfires during the background check process. It’s better to explain the situation and emphasize how you’ve learned from mistakes.
For example, briefly mention to your recruiter or during interviews:
– If you have a past criminal conviction.
– Why you left certain previous jobs.
– Any circumstances that caused credit problems.
– Past discipline of a professional license.
This gives Fidelity’s hiring team context to evaluate your unique situation. Being transparent can demonstrate maturity, personal growth and integrity.
Of course, gather evidence you would use to dispute any inaccurate findings by the background check firm. This protects your rights under the FCRA.
Fidelity Investments conducts background checks on new hires covering criminal, employment, education and other records. The process usually takes a week and aims to complete before start date. Major red flags like convictions or false credentials lead to rescinded offers. Disclosing issues upfront provides helpful context. Understanding Fidelity’s policy prepares candidates and eases onboarding.