The Necessity of Executive Due Diligence and Executive Asset Identification
Private Investigative Asset Searches for Executive Hires are Critical
In today’s age, knowing and verifying facts about a candidate’s background is of dire importance—this is not only an objective fact, but something that we see often overlooked in the executive screening process. Asset searches for executive hires and executive due diligence are the only sure ways to provide a thorough picture of your executive candidate is, and how effective they will be as they take on a major role in your corporation. If you want a true indication of how trustworthy or capable your potential executive hire is, don’t just take someone’s word for it—we caution all to do the research, or work with professionals who can find out the truth.
Get a Clear Picture of Executive Hire Candidates
The news stories of financial misconduct and criminal activity at the highest level of major corporations are, unfortunately, commonplace. With the changes brought into our world throughout the last year, fraud has evolved, yet again. At the lowest level, individual unemployment fraud has been on the rise, but executive level exploitation of government funding has seen its increase as well. Small businesses and are no strangers to underhanded dealings either. What all companies have in common is the need to have high-level employees who are truly an asset to the business, not a detriment.
If you are interviewing candidates for chief financial officer, chief operating officer, or other chief executive positions, their prominent role directly affects the success or failure of your organization. The lack of executive due diligence can and does lead to hiring the wrong person who has access to the inner workings of your company, proprietary information, and resources can be fatal to your business. Knowing about how potential candidates treat their own assets, how they were attained, and most importantly how they appear is not only necessary, but can become a mistake if not done properly.
Some companies offer asset searches for executive hires in the same way they offer all asset searches: through a simple database search format. In these automated searches, one might uncover things like:
- Business ownership
- Criminal history
- Vehicles, watercraft, and aircraft
- Outstanding judgments against
- Verification of professional licenses
Simpler Asset Searches for Executive Hires like these have their place, but do not entail all parts of the executive due diligence you need to safeguard your organization. To put it in the simplest terms possible, it’s important to be aware of the background check scams out there—which can save you an extra step in the long run, As part of our services, you can expect all of the above searches and more. Our private intelligence experts will provide a detailed dossier of an executive’s past financial behaviors, asset allocation, and personal life, so you have the full picture of what goes on behind the scenes. The best part? We can design investigations to specifically fit your needs or answer your specific questions.
The greater authority a person has in your company, the greater the need for an incredibly thorough asset search. How they have handled their personal dealings directly influences how they will handle the workings of your company. Where an executive’s personal finances currently stand could lead them to make choices that they think they can get away with at a high level, but which could lead your enterprise to ruin.
The Blowback of Executive Crimes
A person’s level of authority in an organization directly affects the financial reach and impact of a business crime. Committing fraud at a high level means it’s easier to override elements that it would be nearly impossible for other employees to evade. Managers and lower-level employees can do damage in cases of fraud, but executives can cause an even greater monetary blow. Executive due diligence can not only shed light onto the obvious instances of crimes like these, but can also save you the trouble of a lengthy hiring process before it begins.
Executives with access to financial assets of an organization or the financial performance of a company have a fiduciary responsibility. If you are going to trust someone with your company’s money, their credibility, qualifications, and past performance are relevant, and their financial past and present are significant. Word of mouth or a solid reputation may precede an exec, but settling for the proof of others rather than commissioning the details yourself is a misstep. Asset searches for executive hires conducted by professional investigators will truly demonstrate the fitness of a candidate and can also entail how well they manage their own expenses—not only the expenses of past companies they’ve worked for.
Hiring the wrong executive not only has the potential to be a financial impact, but the reputation of your company is at stake, both internally and externally.
Why Hire ASG to Conduct Asset Searches for Executive Hires?
It would be nice to think that you can take your job candidates at their word, but that isn’t the culture in which we live. Even relying on references alone to vouch for a person’s character isn’t enough. Outsourcing asset searches for executive hires to the experts at ASG ensures that you will receive an impartial, thorough report about your job candidate. The hope, of course, is that all the information found about the candidate is on the up-and-up and you can work successfully with this professional.
You may be friendly with an executive job candidate, or consider them ideal for the position based on how you’ve clicked with each other in interviews and meetings, but don’t slack on due diligence. The success of your company, staff, shareholders, customers, brand, and more depend upon hiring the right executives, and that begins with thorough vetting. Contact us today to discuss asset searches for executive hires or to design a full executive due diligence plan. This will ensure that you have the time to maintain your enterprise in addition to keeping it safe, thriving, and in good hands.