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Suitability and Background Investigations

All You Need to Know

Pinnacle Consulting & Advisors' background and suitability team consists of seasoned investigators who have the skills, experience and resources from years of work involving investigations and suitability reviews from government to fortune 500 companies.

 

Why you should care about suitability reviews.

Part of any good compliance program is the background investigation and the suitability reviews you either are conducting or should be conducting on key employees and your business partners.

Knowing what you need and how the completed investigation is delivered to you are key components of finding the “who” related to the company you select to conduct the investigations.  But understanding the “What, where. how and why” of the investigative process is even more important.

What is different about Pinnacle Consulting & Advisors backgrounds?

The mistake most make is that they assume background checks are a one-size-fits-all, but they are not. It is not hard to run a name, see what comes back and then copy and paste that information into a report, but what about the issues that might arise?

  • People frequently use different names

  • People often use different addresses

  • People use various phone numbers

  • People omit critical information, sometimes by accident and other times deliberately

  • People are victims of identity theft

  • Credit reporting agencies or public records often have typographical errors

Pinnacle Consulting & Advisors checks such things as criminal history, litigation history, watch-lists, OFAC, numerous other relevant databases and sources of information on persons and businesses.  It is what Pinnacle Consulting & Advisors does after the boxes are checked that matters and makes us unique.

Background checks, just like a due diligence review or a suitability review, need care and focused attention. Investigators need to be trained and experienced in reviewing search returns and validating the information. Sometimes that requires interviews of the subject of the review. Is that something built into the pricing with your vendor? It is with Pinnacle Consulting & Advisors.

Pinnacle Consulting & Advisors’ background investigators are not automated machines. We do not cut corners, and we take pride in the fact that we customize our programs for each client so we can focus on what matters most to our clients.

To better understand the proper investigative process we need to understand how due diligence and suitability reviews factor into an investigation.

You have heard the term “Suitability Review,” but what is a suitability review and why does your company need them now?

Today, most people know and understand what a background investigation is and that backgrounds can be legally required for certain types of employment or be role-specific. Backgrounds can also become very expensive and are often not performed to a standard most companies require. Communication and ongoing feedback with your background vendor is key to building the custom process you need to get quality investigations. If done correctly, backgrounds can help companies avoid claims related to negligent hiring and, thereby, save organizations hundreds of thousands of dollars in defending litigation.

In addition to background investigations, a lot of companies also know of, or have heard of, suitability reviews. Few, however, have the manpower or experience to conduct such investigations. As a part of any company’s code of conduct and ethics plans, having a standardized suitability review program makes sense; overall, the cost of suitability reviews is lower than background investigations and can help prevent labor-related claims, like negligent retention.

It is critical to your company’s success that you understand what suitability reviews can do for you.

Suitability reviews help guide your company into making better business decisions by giving you information. Consider such questions you may have - should you promote someone into a position where they have more access or control over company funds? Should someone be moved into a section that has more access to your intellectual property? Suitability reviews help shed light on someone having a history of questionable financial behavior or if they have had civil actions or public allegations of abusing a company’s intellectual property. Suitability reviews can help mitigate your risks and improve the success rate of your business decisions.

Suitability reviews are not just for persons but should also be conducted on entities. Suitability reviews on your business partners, vendors and contractors help inform you of possible negative past behavior that could affect whether you want to engage in a business agreement with someone and also help guide how a contract is constructed to better shield your company from risk. As an example, you may have a vendor that supplies your company with the majority of product for you to conduct business. This vendor is shut down overnight by the Department of Justice during an investigation into their foreign ownership related to owners on a sanction list, watch list or foreign government connections.  A suitability review could have identified such risks if it had been conducted, and now your company has lost its prime vendor.

A suitability review can help identify such things as company ownership, past litigation histories, conflict of interest situations and regulatory histories. Suitability reviews on entities you are conducting business with, or considering conducting business with, help you avoid issues surrounding concerns such as money laundering, violations of the Foreign Corrupt Practices Act or other regulations. Consider, for a moment, the risk of damage to you or your company’s reputation or the worst-case scenario in which a criminal investigation or civil action on a business partner or vendor flows down to you and your company.

Suitability reviews help educate you as to the past business history of a potential partner or vendor which help you understand such things as reliability, histories of breach of contract claims, questionable financial behavior or possible integrity issues.  It is easy to think that all you have to do is look, but where and how? Do you have the personnel? Do you have the experience and know what you are looking for?

The bulk of the information related to suitability exists in public databases spread around the country and the world. What most companies lack is the ability to, in a timely manner, access all of the information and correlate it into a cohesive set of facts and data to be easily digested by you and your business partners in order to reduce risk and avoid damage to your reputation. 

Pinnacle Consulting & Advisors utilizes years of experience in conducting such reviews, both in government investigations and with Fortune 500 companies, to sift through information and present a timely, concise and easy to understand report for your company to be able to make better business decisions. 

Pinnacle Consulting & Advisors leverages seasoned investigators coupled with the one-on-one conversations needed to build a quality process to specifically address your concerns.

Having an ongoing and open line of communication with our clients allows us to adjust, in near real-time, the scope and focus of an investigation to get what is needed for our client.

Our investigators are specialists in investigation and are reliable, experienced and trained in seeking validation of information, as well as uncovering issues that are relevant to our clients. 

Take a critical look at your background check provider and ask yourself if they are merely checking boxes or are they engaged with your company to provide quality over quantity?

Contact us to learn more about our process and to discuss the possibilities of a cost-efficient and workable solution so your company can reduce risk and gain valuable information to be confident with your business decisions. 

Pinnacle Consulting & Advisors is licensed by the Nevada Private Investigators Licensing Board. 
NV PILB License # 2916