Financial Examiners: 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.
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The Daily Work of Financial Examiners Perform?
The core tasks performed by financial examiners span:
- 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.
- Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
- 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.
- Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
- Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
- Review balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities.
- Plan, supervise, and review work of assigned subordinates.
- Review audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines.
Key Skills and Knowledge
Effective financial examiners rely on a mix of skills and domain knowledge.
Top Skills
The competencies most central to this role, rated on an importance scale of 0 to 5:
Knowledge Areas
Related Job Titles
Common job titles for this role include:
- AML Director (Anti-Money Laundering Director)
- Anti Money Laundering Investigator (AML Investigator)
- BSA Analyst (Business Systems Analyst)
- BSA Officer (Bank Secrecy Act Officer)
- BSA Specialist (Bank Secrecy Act Specialist)
- Bank Compliance Officer
- Bank Examiner
- Bank Secrecy Act Anti-Money Laundering Officer (BSA/AML Officer)
Job Outlook
The U.S. employs around 120,674 financial examiners working in the United States today. Employment is projected to grow by +13.1% over the projection horizon.
How Much Do Financial Examiners Make?
| Statistic | Value |
|---|---|
| Annual median | $117,139 |
| Hourly median | $56.32 |
| 10th percentile | $82,004 |
| 25th percentile | $99,572 |
| 75th percentile | $134,706 |
| 90th percentile | $152,273 |
Pay can vary substantially based on experience, location, and industry.
Financial Examiners Salary by State
| State | Annual median salary |
|---|---|
| District of Columbia | $177,550 |
| Connecticut | $132,320 |
| New York | $127,190 |
| Washington | $110,340 |
| New Hampshire | $109,010 |
| California | $105,790 |
| New Jersey | $103,300 |
| Colorado | $99,740 |
| Illinois | $99,680 |
| Minnesota | $95,720 |
| Delaware | $95,350 |
| North Carolina | $93,900 |
| Oregon | $92,670 |
| Mississippi | $92,590 |
| Virginia | $89,950 |
| Rhode Island | $86,940 |
| Massachusetts | $85,110 |
| Pennsylvania | $84,910 |
| Wisconsin | $84,430 |
| Nevada | $84,390 |
| Maryland | $84,250 |
| Louisiana | $83,180 |
| Montana | $82,880 |
| Missouri | $82,640 |
| Tennessee | $82,630 |
| Iowa | $81,360 |
| South Dakota | $81,100 |
| North Dakota | $81,020 |
| Alabama | $80,870 |
| Kansas | $80,100 |
| Utah | $80,030 |
| Oklahoma | $79,460 |
| Indiana | $78,440 |
| Nebraska | $78,110 |
| Texas | $77,990 |
| Arizona | $77,570 |
| Kentucky | $77,140 |
| Vermont | $76,190 |
| Georgia | $76,130 |
| Florida | $75,730 |
| Idaho | $75,090 |
| New Mexico | $73,260 |
| Arkansas | $72,530 |
| South Carolina | $72,030 |
| Alaska | $70,460 |
| Maine | $69,650 |
| Michigan | $66,160 |
| Ohio | $66,090 |
| Hawaii | $63,080 |
| West Virginia | $60,440 |
| Puerto Rico | $37,100 |
Where Financial Examiners Earn the Most
Compensation for financial examiners differ across the country. The following regions pay the most:
| Region | Median annual wage | Share of U.S. jobs | Location quotient |
|---|---|---|---|
| Middle Atlantic | $117,820 | 26.6% | 2.23 |
| Far Western US | $100,708 | 8.7% | 0.61 |
| New England | $92,973 | 3.5% | 0.87 |
| Rocky Mountains | $91,922 | 4.0% | 1.12 |
| Plains States | $83,990 | 9.2% | 1.50 |
| Southeast | $81,736 | 21.0% | 0.97 |
| Great Lakes | $80,449 | 12.8% | 1.19 |
| Southwest | $77,894 | 12.7% | 1.06 |
Top Metro Areas
| Metro area | State | Median annual wage | Employment |
|---|---|---|---|
| Bridgeport-Stamford-Danbury, CT | CT | $194,810 | 180 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | DC | $139,790 | 1,130 |
| San Francisco-Oakland-Fremont, CA | CA | $132,190 | 900 |
| New York-Newark-Jersey City, NY-NJ | NY | $131,670 | 11,310 |
| Baton Rouge, LA | LA | $117,230 | 40 |
| Seattle-Tacoma-Bellevue, WA | WA | $111,780 | 210 |
| San Jose-Sunnyvale-Santa Clara, CA | CA | $109,450 | 170 |
| Hartford-West Hartford-East Hartford, CT | CT | $108,130 | 140 |
Top Industries Employing Financial Examiners
Most financial examiners are concentrated in the following sectors:
| Industry | Employment | Median annual wage |
|---|---|---|
| Finance and Insurance | 40,260 | $86,490 |
| Management of Companies and Enterprises | 5,960 | $84,120 |
| Professional, Scientific, and Technical Services | 2,560 | $66,910 |
| Administrative and Support and Waste Management and Remediation Services | 840 | $79,910 |
| Other Services (except Public Administration) | 340 | $111,540 |
| Information | 140 | $82,870 |
| Educational Services | 70 | $59,700 |
| Health Care and Social Assistance | 50 | $60,540 |
Below are examples of industries where financial examiners work:
Software Financial Examiners Use
- Data base user interface and query software: Microsoft Access (hot technology)
- Spreadsheet software: Microsoft Excel (hot technology)
- Office suite software: Microsoft Office software (hot technology)
- Electronic mail software: Microsoft Outlook (hot technology)
- Presentation software: Microsoft PowerPoint (hot technology)
- Project management software: Microsoft Project (hot technology)
- Document management software: Microsoft SharePoint (hot technology)
- Process mapping and design software: Microsoft Visio (hot technology)
- Operating system software: Microsoft Windows (hot technology)
- Word processing software: Microsoft Word (hot technology)
- Object or component oriented development software: R (hot technology)
- Enterprise resource planning ERP software: SAP software (hot technology)
What the Workplace Is Like
The on-the-job environment of financial examiners is shaped by the following characteristics:
- Face-to-Face Discussions with Individuals and Within Teams
- Spend Time Sitting
- Work With or Contribute to a Work Group or Team
- Contact With Others
How to Become Financial Examiners
Typical financial examiners positions require a bachelor’s degree as the typical entry-level education. This career aligns with Considerable Preparation Needed (Job Zone 4), indicating the level of preparation typically expected.
Other Careers to Consider
Similar Occupations
- Security Managers (Supplemental)
- Financial Managers (Primary-Long)
- Treasurers and Controllers (Primary-Short)
- Investment Fund Managers (Supplemental)
- Compliance Managers (Primary-Short)
- Management Analysts (Supplemental)
- Compensation, Benefits, and Job Analysis Specialists (Supplemental)
- Accountants and Auditors (Primary-Short)
Where to Study
Aspiring financial examiners typically earn programs in:
Business, Management, Marketing, and Related Support Services
3 programs across 2 majors
Sources
Statistics shown above are sourced from the following authoritative sources:
- U.S. Bureau of Labor Statistics — Occupational Employment and Wage Statistics (OEWS) for employment and wage data by state and industry.
- BLS Employment Projections for total employment and growth forecasts.
- O*NET (Occupational Information Network) for skills, knowledge, tasks, work activities, work context, technology, and education-zone data.
SOC code: 13-2061.00 (Financial Examiners).
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