Employee Recheck Policy
1. Purpose
The purpose of this policy is to ensure that all employees undergo an annual recheck to maintain compliance with the Financial Conduct Authority (FCA) OR Prudential Regulation Authority (PRA) regulations, uphold the highest standards of conduct, and ensure the integrity of our financial services.
2. Scope
This policy applies to all employees of [Company Name], including permanent, temporary, part-time, and contracted staff.
3. Recheck Components
The annual recheck process will include, but is not limited to, the following components:
- Disclosure and Barring Service (DBS) Check: A renewed DBS check will be conducted to ensure there are no new criminal records or concerns.
- Right to Work Verification: Verification of documents proving the employee's right to work in the UK.
- Qualifications and Certifications: Review and verification of qualifications and certifications to ensure they are up to date and relevant.
- Professional Registration: For roles requiring professional registration, confirmation that the registration is current and in good standing.
- Financial Soundness Check: An assessment to ensure there are no financial issues that could affect the employee's ability to perform their role (e.g., credit checks).
4. Recheck Schedule
- Rechecks will be conducted annually, with each employee's recheck scheduled based on their date of hire.
- Employees will receive a notification at least 60 days in advance of their recheck due date.
5. Employee Responsibilities
- Employees are required to provide any necessary documentation promptly to facilitate the recheck process.
- Employees must notify HR of any changes that may affect their employment status, such as changes in criminal record status or professional registration.
- Employees are required to disclose any financial difficulties that could impact their role.
6. HR Responsibilities
- HR will maintain a schedule of all upcoming rechecks and ensure that notifications are sent to employees in a timely manner.
- HR will coordinate the recheck process, including scheduling DBS checks, verifying documentation, and conducting performance reviews.
- HR will maintain accurate and up-to-date records of all rechecks.
7. Confidentiality
- All information obtained during the recheck process will be treated with the utmost confidentiality and will be stored securely in accordance with GDPR regulations.
8. Non-Compliance
- Failure to comply with the recheck process may result in disciplinary action, up to and including termination of employment.
9. Review of Policy
- This policy will be reviewed annually to ensure it remains compliant with FCA and PRA regulations and reflects best practices.
10. Contact Information
For any questions or further information regarding this policy, employees should contact the HR department at [Contact Information].