Mitigate the Risk: Best Practices for Employee, Client and Third Party Due Diligence in the Financial Services Industry

Sterling Check

Hiring the right talent, maintaining accountability for those you hire and managing through the complex regulatory landscape has never been more important – and more challenging for financial institutions. Sterling Talent Solutions partnered with Compliance Risk Concepts (CRC) , a business-focused team of senior compliance consultants and executives, to publish the White Paper, “Employee, Client and Third Party Due Diligence: The Cost of Ineffective Monitoring Procedures.”

Best Practices for Employee Due Diligence in the Financial Services Industry

Sterling Check

Vetting new hires is important for any position, especially within the financial services industry. The Undercover Recruiter broke down the cost of a bad hire (earning $62,000 a year and terminated after 2.5 years), in a recent infographic, The Outrageous Costs of a Bad Hire. A bad hire can happen because the candidate gets away with misdirection or even outright lying during the hiring process. FINRA fines will vary depending on the type of violation.