CACEIS is assured of honest personnel by screening

‘Employment screening is an important part of our hiring process, which is why we work with Validata.’

CACEIS is an financial institution with more than 4,600 employees internationally and 4.2 trillion euros in custody. ‘CACEIS helps professional investors in pension funds and the security industry to reduce costs and improve services,’ says Karin Krijl, HR Staff Administration Officer at CACEIS Netherlands. CACEIS started employment screening with Validata in 2015, when they were still known as KAS BANK.

‘Employment screening is an important part of our hiring process,’ shares Karin. As the HR Staff Administration Officer for CACEIS in the Netherlands, her responsibilities include all onboarding, transfers, and outflows of employees in the local branch. She oversees every new employee starting at the organisation.

Screening checks tailor-made for the financial sector

‘Most of our screenings are managed by Validata. Among other things, we ask them to check work experience and diplomas, as well as the candidate’s BKR (Credit Registration Office) registration and VOG (Certificate of Good Conduct). CACEIS has five different screening profiles, some more elaborate than others. We also have an international profile for our foreign employees,’ Karin says about the services provided by Validata.

‘We want to be sure that the people we hire are reliable and have integrity. That’s why we also do a BKR check , for example. If we see that someone is or has been in great debt or still has a large loan, that can be a risk factor,’ explains Karin.

‘We also perform checks ourselves, namely the EVA check and checking the international sanctions list. Since KAS BANK was taken over by the French company CACEIS, we are now largely subject to French regulation. As a result, certain checks are carried out internally,’ Karin explains. That’s why we now carry out a sanctions check ourselves. It’s a time-consuming task, so we are very happy to outsource other checks to Validata.

Customisation of Validata’s screening solutions

‘Six years ago we decided to outsource employment screening. This choice was made at the time because it proved to be much more efficient than in-house screening,’ says Karin.

‘I’m very satisfied with our partnership with Validata and the services they provide. Previously, our candidates and employees needed to sign and approve the screenings we conducted ourselves , but our Compliance Officer realised that this needed to change. Since the Financial Supervision Act (FSA) requires us to screen in the financial sector, legally we do not need to ask for permission. However, we do need to inform the candidate about the screening process. Validata solved this issue nicely for us by adding a new checkbox in their application for us. It allows the candidate to indicate that they have been informed about the screening. To add, Validata handled this requested customisation very quickly. The change of company name in the system from KAS BANK to CACEIS also went exceptionally smooth.’

Easily assess screenings with a comprehensive screening report

‘Validata itself does not asses the screening reports. They only verify the candidates’ supplied data. The assessment of the screening is then up to us. Using a colour code in the screening report, it’s easy to see when a screening reveals something unusual.’

New functions in Validata’s new application, Valluga

‘Last year, we participated in the pilot of Validata’s new Valluga application,’ says Karin. ‘This gave CACEIS insight into the app’s new functionality. One advantage is that it allows you to also check the screening’s interim status. Validata takes feedback on the new application very seriously.

‘Whenever I would call to say something was missing, they would solve it immediately. Our contact with Validata is excellent.’

Karin Krijl, CACEIS