What is an Equifax PERSONA Plus Report?

The information provided in an Equifax Employment Screening Report, known as a PERSONA PLUS report, can assist with addressing one of the challenges faced by the securities industry: to hire the right person for the right job. Often the most important and difficult decision for an employer is to select a new employee. As the cost to hire a new employee escalates each year, it is critical for managers to quickly receive complete and usable information on which to base their hiring decisions. In addition to new hires, employers may find this report useful to assist with evaluating employees being considered for promotions, relocation or reassignment.

By partnering with Equifax, NASD is providing member firms with the ability to access the Equifax site through Web CRD to request PERSONA PLUS reports. Used as a stand-alone screening tool or as a cost-effective supplement to more extensive background investigations, a PERSONA PLUS report can assist with evaluating an individual by offering the following benefits and features:

Benefits:

  • Validate information that was entered on an applicant's employment application; view information that may have been omitted from a job application or resume (e.g., former names or addresses); and/or, verify information provided on an individual's Form U4.
  • Provide valuable insight to how an applicant handles his/her financial obligations which is very important when a prospective employee will handle money, certificates, etc.
  • Pay a competitive report fee of $3.00* when requested via the Equifax Employment Screening Report link available in Web CRD.
  • Supplement Web CRD's pre-association functionality.
  • Add a layer of control for the firm to track via Web CRD entitlement, which individuals in their firm have access to requesting PERSONA PLUS reports.

Features:

  • Instant online access to Equifax's database of 200+ million records.
  • Ability to search employment records online and save them offline.
  • Ability to request individual or batched reports.
  • Concise, easy-to-read report formats. Each report contains contact, employment and credit history information including:
  1. The credit reporting agency address and telephone number for consumer contact.

  2. The individual's full name plus former names and known aliases (when available).

  3. Up to three addresses (with dates reported) and telephone numbers.

  4. The individual's Social Security Number, which is verified for assured accuracy with three or more major Equifax customers. (Note: The SSN is not verified with the Social Security Administration.)

  5. Up to three last-reported employers along with verification of employment dates (when available).

  6. File content (e.g., public records, collections, account statuses and other information) summarized for evaluation at a glance.

  7. An inquiry alert which appears if three or more inquiries occurred within the past 90 days.

  8. A public records/other information section containing courthouse records with dates, amounts and outstanding balances.
     
  9. Collection items provided with dates, amounts and payment status in a separate section.

  10. A complete listing of credit account activity which discloses the scope of an applicant's debt obligations, current account statuses and historical payment performance. Accounts are grouped by type and totaled for quick, precise review. An easy-to-read 24-month payment history allows for efficient evaluation.

  11. A two-year record of inquiries identifying creditors who have reviewed the applicant's credit file, along with review dates.

  12. Notification of employer responsibilities regarding consumer rights related to the use of credit information for employment purposes.

* An additional surcharge may apply for report requests for individuals residing in Colorado.