All About Financial Examiners
Job Description & Duties 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.
Daily Life Of a Financial Examiner
- Review balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities.
- Verify and inspect cash reserves, assigned collateral, and bank-owned securities to check internal control procedures.
- Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
- Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures.
- Review audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines.
- Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
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Financial Examiner Needed Skills
These are the skills Financial Examiners say are the most useful in their careers:
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.
Related Job Titles
- Securities Compliance Examiner
- Payroll Examiner
- Escrow Officer
- Supervisory Examiner
- Credit Union Examiner
What Kind of Financial Examiner Job Opportunities Are There?
There were about 52,500 jobs for Financial Examiner in 2016 (in the United States). 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. Due to new job openings and attrition, there will be an average of 4,600 job openings in this field each year.
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.
How Much Does a Financial Examiner Make?
Financial Examiners make between $42,150 and $154,590 a year.
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
Becoming a Financial Examiner
Are there Financial Examiners education requirements?
What work experience do I need to become a Financial Examiner?
Where do Financial Examiners Work?
Financial Examiners work in the following industries:
Related 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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