Life As a Financial Examiner
Job Description: Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify, or authenticate records.
Life As a Financial Examiner: What Do They Do?
- Plan, supervise, and review work of assigned subordinates.
- Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
- Confer with officials of real estate, securities, or financial institution industries to exchange views and discuss issues or pending cases.
- Direct and participate in formal and informal meetings with bank directors, trustees, senior management, counsels, outside accountants and consultants to gather information and discuss findings.
- Establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation.
- Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
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Qualities of a Financial Examiner
When polled, Financial Examiners say the following skills are most frequently used in their jobs:
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Speaking: Talking to others to convey information effectively.
Other Financial Examiner Job Titles
- Internal Auditor
- Escrow Officer
- Community Reinvestment Act Officer (CRA Officer)
- Credit Union Examiner
- Home Mortgage Disclosure Act Specialist (HMDA Specialist)
Job Outlook for Financial Examiners
In 2016, there was an estimated number of 52,500 jobs in the United States for Financial Examiner. New jobs are being produced at a rate of 9.7% which is above the national average. The Bureau of Labor Statistics predicts 5,100 new jobs for Financial Examiner by 2026. The BLS estimates 4,600 yearly job openings in this field.
The states with the most job growth for Financial Examiner are Arizona, Florida, and Idaho. Watch out if you plan on working in Wyoming, Mississippi, or Maryland. These states have the worst job growth for this type of profession.
Financial Examiner Average Salary
The average yearly salary of a Financial Examiner ranges between $42,150 and $154,590.
Financial Examiners who work in District of Columbia, Connecticut, or New York, make the highest salaries.
Below is a list of the median annual salaries for Financial Examiners in different U.S. states.
| State | Annual Mean Salary |
|---|---|
| Alabama | $59,910 |
| Alaska | $71,830 |
| Arizona | $61,710 |
| Arkansas | $70,640 |
| California | $108,740 |
| Colorado | $82,380 |
| Connecticut | $108,520 |
| Delaware | $85,610 |
| District of Columbia | $157,860 |
| Florida | $85,580 |
| Georgia | $106,870 |
| Hawaii | $64,380 |
| Idaho | $74,390 |
| Illinois | $102,690 |
| Indiana | $74,140 |
| Iowa | $65,410 |
| Kansas | $74,360 |
| Kentucky | $64,400 |
| Louisiana | $100,420 |
| Maine | $66,720 |
| Maryland | $77,440 |
| Massachusetts | $107,840 |
| Michigan | $81,270 |
| Minnesota | $91,530 |
| Mississippi | $81,800 |
| Missouri | $73,870 |
| Montana | $70,180 |
| Nebraska | $71,790 |
| Nevada | $67,820 |
| New Hampshire | $91,330 |
| New Jersey | $109,100 |
| New Mexico | $84,370 |
| New York | $115,980 |
| North Carolina | $71,310 |
| North Dakota | $75,770 |
| Ohio | $78,540 |
| Oklahoma | $70,250 |
| Oregon | $67,980 |
| Pennsylvania | $91,850 |
| Rhode Island | $89,470 |
| South Carolina | $65,720 |
| South Dakota | $86,920 |
| Tennessee | $83,170 |
| Texas | $84,350 |
| Utah | $71,220 |
| Vermont | $76,670 |
| Virginia | $80,700 |
| Washington | $95,910 |
| West Virginia | $68,940 |
| Wisconsin | $76,680 |
Tools & Technologies Used by Financial Examiners
Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Examiners:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Word processing software
- SAP
- Microsoft Windows
- Microsoft Project
- Spreadsheet software
- Microsoft Visio
- Microsoft SharePoint
- Structured query language SQL
- LexisNexis
- Presentation software
- Westlaw
- Financial compliance software
- Auditing software
How do I Become a Financial Examiner?
Education needed to be a Financial Examiner:
How Long Does it Take to Become a Financial Examiner?
Where Financial Examiners Are Employed
Below are examples of industries where Financial Examiners work:
Similar Careers
Those thinking about becoming a Financial Examiner might also be interested in the following careers:
- Administrative Law Judges, Adjudicators, and Hearing Officers
- Claims Examiners, Property and Casualty Insurance
Those who work as a Financial Examiner sometimes switch careers to one of these choices:
References:
Image Credit: Pixabay via CC0 License
More about our data sources and methodologies.
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