Pre-employment checks for expats joining investment banks

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  1. #1

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    Question Pre-employment checks for expats joining investment banks

    Hi guys, do any of you have any idea how long the pre-employment checking takes roughly for jobs with investments banks in HK, and what the checks consist of for expats (rather than locals)?

    I'm getting towards the latter stages of the interview process and I'm just wondering what will happen next if I get as far as offer stage. I'm UK based and the UK pre-employment checks are pretty stringent (reference and qualification checks, criminal record check, credit check) and can take 1-2 weeks, sometimes longer. My prospective future employer is a global bank so I'm wondering if they will still insist on doing all this and if this means the whole process will take forever given it will be HK checking back to the UK??

    I already feel pretty bad that I'm considering leaving my current employer, particularly as they are trying to get me started on some interesting and long term work with them so the longer the process goes on, the worse I feel not being honest with them. I just want to get to the stage where if I get an offer, I only have to hang on another week or two before I can resign and stop feeling like I'm leading my current employer on. Are the HK pre-employment checks for investment banks as stringent (and time-consuming) as the UK or are things a bit more relaxed?

    Really appreciate the input of anyone who has been through the process of moving from another country to a role in an IB in HK, thanks!


  2. #2

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    Had the same thing done when I started with my U.S bank here. Never worked in the U.S before only U.K so they used a U.S agency to do my U.K background check.

    It took 6 weeks! So don't hold your breath and expecting 1-2 weeks might not be possible.


  3. #3

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    Quote Originally Posted by bibbju:
    Hi guys, do any of you have any idea how long the pre-employment checking takes roughly for jobs with investments banks in HK, and what the checks consist of for expats (rather than locals)?

    I'm getting towards the latter stages of the interview process and I'm just wondering what will happen next if I get as far as offer stage. I'm UK based and the UK pre-employment checks are pretty stringent (reference and qualification checks, criminal record check, credit check) and can take 1-2 weeks, sometimes longer. My prospective future employer is a global bank so I'm wondering if they will still insist on doing all this and if this means the whole process will take forever given it will be HK checking back to the UK??

    I already feel pretty bad that I'm considering leaving my current employer, particularly as they are trying to get me started on some interesting and long term work with them so the longer the process goes on, the worse I feel not being honest with them. I just want to get to the stage where if I get an offer, I only have to hang on another week or two before I can resign and stop feeling like I'm leading my current employer on. Are the HK pre-employment checks for investment banks as stringent (and time-consuming) as the UK or are things a bit more relaxed?

    Really appreciate the input of anyone who has been through the process of moving from another country to a role in an IB in HK, thanks!
    You should NOT resign until your visa for HK is approved (and that takes about 6 weeks on average) so in any case you will bot be able to resign within one week

    Don't feel bad. it's business. think reverse, if the company was doing so so do you think they would think twice before letting you go?

  4. #4

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    Thanks! I definitely wouldn't resign until I know all the checks (except reference with my existing employer) are done and the visa has been agreed, or I'll shoot myself in the foot and lose my current job and have no job to go to!

    I'm a bit worried as my UK credit history is a bit dodgy...things are fine now but a few years ago I had some problems so its still on my record for another couple of years. Some UK banks have been fine about it as long as I've been able to explain what happened and show that I acted responsibly to sort it all out and its all resolved now, but one UK bank was HORRENDOUS and withdrew the job offer....apparently if anyone has a default of GBP 500+ in the last 6 years, they won't entertain giving them a job regardless of circumstances, role applied for etc. I know its the way the markets are going these days so it worries me. Its taken me a long time to dig myself out of a hole and I'm in a strong position financially now but I'm worried it may cost me the job offer (if I get that far). My plan was to stay with my current employer (who know my circumstances and are quite satisfied that its all in the past) until it all drops off my UK credit record but I was approached about the HK job and its my dream job!! I never thought I'd get through the interview process but suddenly here we are, last stages and I'm scared stiff that I get the offer, I may lose it on the credit check. Aargh! No point asking the recruitment agent as this is a new client for them so they have no idea what to expect either. :-(


  5. #5

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    Why not just ask the potential employer what the process is and what the expected timelines are - because you are keen to work for them and want to manage the process professionally with your existing employer. Doesn't sound bad, sounds professional and sensible and they should know the answers better than us.


  6. #6

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    Quote Originally Posted by MovingIn07:
    Why not just ask the potential employer what the process is and what the expected timelines are - because you are keen to work for them and want to manage the process professionally with your existing employer. Doesn't sound bad, sounds professional and sensible and they should know the answers better than us.
    Once I get the last (hopefully!) interview out of the way, if we get to offer stage, I'll ask them about the next steps but I don't want to complicate things -or seem presumptuous - until I have an offer. They've actually been really good - have already discussed salary, benefits etc with their HR - so I'm sure they'll be really helpful. I just feel dishonest hiding what's going on from my current employer...I know that sounds silly and business is business but all the sneaking about is getting to me!!!

    I was just hoping to get some kind of indication of what's the norm in HK. In London its easier as I know the market and which banks do what but its a whole new set of rules for HK Don't want to get my hopes up about moving to HK and then it all goes horribly wrong.

  7. #7

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    bibju - It takes more than 2 weeks. My 2 weeks are over, and I am still waiting.


  8. #8

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    I think if its a global bank they usually hire an international agency to do a background check on everything on your resume. Since there is so much fabrication being discovered nowadays, these checks are done by professionals with international offices - so it isn't a hassle if you are from the UK as many banking recruits come from the top unis there.

    As for companies, they usually use a company like Krolls.