@paninid I don't think we need specifically this institution, but we do need mechanisms with far lower burden of proof than criminal or even civil trial to determine "this person is unfit to hold any position of great power in public or private sphere".
The harms from denying a particular person life or liberty without a high bar of evidence are great, but the harms of denying a particular person powerful office are basically zilch. There's always someone else who can do it.