What Do Financial Examiner Do?
Financial Examiner Definition 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.
What Do Financial Examiners Do On a Daily Basis?
- 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.
- Prepare reports, exhibits and other supporting schedules that detail an institution’s safety and soundness, compliance with laws and regulations, and recommended solutions to questionable financial conditions.
- Verify and inspect cash reserves, assigned collateral, and bank-owned securities to check internal control procedures.
- Plan, supervise, and review work of assigned subordinates.
- Examine the minutes of meetings of directors, stockholders and committees to investigate the specific authority extended at various levels of management.
- Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
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Financial Examiner 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.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Speaking: Talking to others to convey information effectively.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
Types of Financial Examiner Jobs
- Regulatory Analyst
- Escrow Officer
- Director of Securities and Real Estate
- Community Reinvestment Act Officer (CRA Officer)
- Financial Investigator
Job Outlook for Financial Examiners
In the United States, there were 52,500 jobs for Financial Examiner in 2016. 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.
How much do Financial Examiners make in each U.S. state?
| 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
Below is a list of the types of tools and technologies that Financial Examiners may use on a daily basis:
- 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 SharePoint
- Microsoft Visio
- Structured query language SQL
- LexisNexis
- Presentation software
- Westlaw
- Auditing software
- PricewaterhouseCoopers TeamMate
Becoming a Financial Examiner
Education needed to be a Financial Examiner:
What work experience do I need to become a Financial Examiner?
Where Financial Examiners Work
The table below shows some of the most common industries where those employed in this career field 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
Are you already one of the many Financial Examiner in the United States? If you’re thinking about changing careers, these fields are worth exploring:
References:
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