Criminal background checks in Canada are a very common requirement for jobs in finance or insurance. That makes sense, given the fact that you could be dealing with substantial amounts of money. Whether you’re a mortgage broker, an investment broker, or an insurance broker, you are probably looking at a background check as documentation needed for your job.

In some cases, these checks are a mandatory requirement asked for by the company. Other times, they are required by law. Provincial licensing bodies, such as the British Columbia Financial Services Authority, the Financial Services Regulatory Authority of Ontario, and the Financial and Consumer Services Commission all have requirements in place regarding this.

What do Criminal Background Checks in Canada Cover?

A criminal background check is the process of gathering information about an employment candidate’s criminal and judicial history. They cover:

  • Conviction history
  • Outstanding charges
  • Sentencing

According to provincial laws, in all provinces, insurance brokers, mortgage brokers, and investment brokers need criminal background checks to be licensed.

Why are the Checks Necessary?

There are two very important reasons for this increased security.

The first is to protect the public and build confidence. For example, if you’re going to a mortgage broker to buy a new home, you want to be able to trust them with perhaps the largest purchase of your life. Not only will they have access to all of your personal and financial information, they are in a position to play a role in some very important financial decisions. By requiring mortgage brokers and other financial professionals to have a criminal record check done as part of their licensing, companies provide a vital level of security to the public.

The second is to help protect companies from employees who may be dishonest and damage their reputations. Companies that deal directly in things like insurance and investments have a lot to lose if their reputation is tarnished. An employee’s negligent or criminal behaviour can achieve this easily, potentially destroying a company’s professional standing, as well as their investors’ trust, etc. This can have long-lasting, far-reaching impacts. By identifying potentially problematic employees beforehand through the appropriate background checks, companies can add that extra level of security and protection within their own firms.

If you’re in the process of becoming a mortgage, insurance, or investment professional, and have yet to obtain a criminal background check, you can do so easily and securely online through Triton Canada. Triton has access to all the same documentation used for background checks completed by the RCMP, and they’re relied upon by some of the largest finance companies in Canada. Fast, easy, online access, 24/7, with reports available in as little as 15 minutes. Visit tritoncanada.ca today.