Financial Examiner Careers
If you enjoy working with numbers, understand how to communicate complex information in simple terms, have strong analytical skills and enjoy writing, it is advantageous to look into a career as a financial examiner. As this field offers entry-level positions, this is a good starting point for those looking to work with financial information or analyze government regulations.
As a financial examiner, you will work with senior-level analysts and receive valuable on-the-job training, which will help you progress in this field. Daily tasks may involve reviewing balance sheets, assessing risk levels and learning overall assessment management strategies.
Financial Examiner Career Snapshot
Opportunities for employment exist within financial intuitions, insurance companies and federal and state governments. Most analysts work full time and receive a base salary. Some travel may be involved if you work with banks and lending institutions.
Further details on a career as a financial examiner are listed below (statistics from the May 2015 Bureau of Labor Statistics and Onet Online):
is the average salary for financial examiners.
increase in employment between 2014 and 2024.
have a Bachelor’s degree while 12% have a Master’s degree.
Financial Examiner Education
While requirements vary between federal and state levels, financial examiners are not required to have advanced degrees. However, a Bachelor of Science in accounting, economics or finance is often desired. Those who work for the Federal Deposit Insurance Corporation (FDIC) must successfully complete six semester hours of accounting coursework.
Financial Examiner Job Duties
Working in risk management involves evaluating and analyzing the overall health of a company. You ensure banks, credit unions or other institutions provide fair loans and maintain cash levels in case of loss.
Those who take the compliance path monitor lenders to ensure borrowers receive fair treatment. You work with borrowers to help them choose loans they have the best chance of paying off, and you work in tandem with banks to enforce those non-discriminatory loan practices.
Financial Examiner Salaries
As of May 2015, according to the BLS.gov, the median salary for financial examiners equaled $78,010, which broke down to $37.50 per hour. New financial examiners earn around $45,540, with seasoned ones having the ability to earn a salary around $149,390. Those looking to move into the area with the most opportunity for pay advancement should keep in mind the federal government provides the highest salaries.
Financial Examiner Job Outlook
Financial regulations require the need for ongoing analysis, so stability exists in this field. With a projected growth rate of 10 percent in the coming years, that rate ranks higher than other career options.
Financial Examiner Skills & Traits
| Financial Examiner Skill Set: | Required Abilities: | Tools Used by Financial Examiners: | Typical Work Activities: |
|---|---|---|---|
| • Reading Comprehension • Active Listening • Critical Thinking • Active Learning • Management of Personnel Resources | • Written Comprehension • Deductive Reasoning • Near Vision • Oral Expression • Problem Sensitivity | • 10-key calculators • Desktop/notebook computers • Compliance software • Financial analysis software • Project management software | • Getting Information • Analyzing Data • Communicating with Others • Evaluating Information • Decision Making |
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