Also called: Bank Examiner, Compliance Officer, Credit Union Examiner, Examining Officer
Produced by CareerOneStop
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Financial examiners work hard to prevent financial crises from occurring. They make sure that banks and other financial institutions follow laws and regulations that keep institutions operating securely and protect consumers’ interests. Financial examiners review balance sheets, evaluate the risk level of loans, and assess bank management. Typically, they specialize in either risk assessment or consumer compliance. Those working in risk assessment evaluate financial institutions’ health. Examiners evaluate bank managers’ performance… ensuring that banks and other financial institutions offer safe loans and that they have enough cash on hand to manage unexpected losses. This helps ensure the financial system remains stable. Financial examiners working in consumer compliance ensure that borrowers are treated fairly. They help borrowers avoid “predatory loans” that generate profit for banks through high interest payments and are risky for borrowers. Examiners also ensure that banks do not discriminate against borrowers. Most financial examiners work full time, in offices, and frequently travel to inspect banks. Typically financial examiners need a bachelor’s degree with some coursework in accounting, finance, economics, or a related field. Examiners who work for the Federal Deposit Insurance Corporation typically need at least six semester hours in accounting. Once hired, financial examiners typically receive at least one year of on-the-job training… entry-level workers learn under the supervision of senior examiners.
What they do: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.
On the job, you would:
- 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.
Arts and Humanities
- English language
- accounting and economics
Safety and Government
- law and government
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
- reading work related information
- thinking about the pros and cons of different ways to solve a problem
- noticing a problem and figuring out the best way to solve it
People and Technology Systems
- thinking about the pros and cons of different options and picking the best one
- figuring out how a system should work and how changes in the future will affect it
- read and understand what is written
- communicate by speaking
Ideas and Logic
- make general rules or come up with answers from lots of detailed information
- use rules to solve problems
- choose the right type of math to solve a problem
- add, subtract, multiply, or divide
- see hidden patterns
People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
- Analytical Thinking
- Attention to Detail
- Self Control
You might use software like this on the job:
Project management software
Financial analysis software
- General Examination System GENESYS
- PricewaterhouseCoopers TeamMate