What is a Financial Examiner?
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.
A Day in the Life of a Financial Examiner
- Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures.
- Examine the minutes of meetings of directors, stockholders and committees to investigate the specific authority extended at various levels of management.
- Review applications for mergers, acquisitions, establishment of new institutions, acceptance in Federal Reserve System, or registration of securities sales to determine their public interest value and conformance to regulations, and recommend acceptance or rejection.
- 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.
- Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
- Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
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What Skills Do You Need to Work as a Financial Examiner?
Financial Examiners state the following job skills are important in their day-to-day work.
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
- Pension Examiner
- Compliance Specialist
- Payroll Examiner
- Home Mortgage Disclosure Act Specialist (HMDA Specialist)
- Supervisory Examiner
Financial Examiner Employment Estimates
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. There will be an estimated 4,600 positions for Financial Examiner per 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.
Financial Examiner Average Salary
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 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 |
What Tools do Financial Examiners Use?
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?
Individuals working as a Financial Examiner have obtained the following education levels:
What work experience do I need to become a Financial Examiner?
Financial Examiners Sector
The table below shows the approximate number of Financial Examiners employed by various industries.
Other Jobs You May be Interested In
Those interested in being a Financial Examiner may also be interested in:
- 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:
Image Credit: Pixabay via CC0 License
More about our data sources and methodologies.
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