Financial Examiners

Financial examiners enforce or ensure compliance with laws and regulations that govern securities and financial institutions as well as real estate and financial transactions. Financial examiners evaluate and verify that records are correct and also establish the authenticity of records. They also examine a company's or an individual's tax return for accuracy and to verify that credits and deductions are legitimate.

Financial examiners employed by private companies examine the company's tax documents prior to filing in order to avoid errors. Some examiners create internal audit procedures and execute internal audits and risk assessments. Some of the common job titles are internal auditor, compliance analyst, compliance officer and compliance specialist.

A financial examiner is sometimes asked to design and manage accounting procedures for automated PC or large computer accounting and auditing systems. Entry-level financial examiners often perform a variety of clerical tasks such as placing tax information into computer databases for processing.

Responsibilities

  • Verify and examine cash reserves, bank owned securities and assigned collateral
  • Offer recommendations for coordinating existing systems with examination procedures
  • Create guidelines for procedures and policies that comply with new and revised regulations
  • Analyze the minutes of meetings of stockholders, directors and committees in order to examine the specific authority extended at the various management levels
  • Ensure legality of transactions and operations and financial solvency
  • Recommend actions in order to ensure compliance with laws and regulations and to protect the solvency of institutions
  • Examine proposed, new and revised laws, policies, regulations and procedures in order to understand their meaning and their impact
  • Analyze a variety of financial activities in order to determine their conformance to regulations, their public interest value and to recommend acceptance or rejection
  • Investigate the activities of institutions in order to enforce laws and regulations
  • Resolve problems regarding the overall financial integrity of banking institutions

Job Characteristics

Financial examiners sometimes are involved in meetings with trustees, bank directors, outside accountants, senior management, counsels and consultants.

Financial examiners need skills in analyzing, investigating and communicating. They should also be detail oriented.

Employment Outlook

The Bureau of Labor Statistics forecasts that the job growth rate for financial examiners will be slower than average, which is primarily due to the streamlining of the Internal Revenue Agency. The job market for tax examiners is somewhat based on the health of the economy, particularly with state and local tax agencies. However, the employment prospects with private companies is likely to improve as businesses seek to avoid external audits and to keep accurate tax records.

The median annual wage in 2008 was $70,930. The median salary for financial examiners varies by employment sector. The top paying industries in descending order are federal executive branch (OES designation), electric power generation, transmission and distribution; investment pools and funds; monetary authorities-Central Bank, and the securities and commodity industry. Those working on the federal level typically make a higher salary than local tax examiners.

Education, Certification, and Licensing

A bachelor's degree in accounting is often required for entry-level financial examiner jobs with private and public organizations. Financial examiners need skills in computer databases and other relevant types of software. Some employers may require credentials such as CPA, CISA and CISSP.

Resources

Major Employers

The major employers for financial examiners are state agencies, the federal government and private corporations. Companies involved with securities and commodity contracts, financial investment activities and deposit credit intermediation are also major employers.

Schools for Financial Examiners are listed in the Browse Schools Section.

Financial Examiners Skills

Below are the skills needed to be financial examiners according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Skill NameImportanceCompetence
Reading Comprehension4.254.25
Active Listening4.124
Critical Thinking4.124.5
Active Learning3.884
Management of Personnel Resources3.883.88

Financial Examiners Abilities

Below are the abilities needed to be financial examiners according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Ability NameImportanceCompetence
Written Comprehension4.254.5
Deductive Reasoning4.124.62
Near Vision4.124.12
Oral Expression4.124.75
Problem Sensitivity4.124.25

Financial Examiners Knowledge

Below are the knowledge areas needed to be financial examiners according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Knowledge AreaImportanceCompetence
Economics and Accounting4.245
English Language4.244.68
Law and Government3.63.83
Mathematics3.564.36
Administration and Management3.524.44

Financial Examiners Work activities

Below are the work activities involved in being financial examiners according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 5 being highest).

   
Work ActivityImportanceCompetence
Getting Information4.885.48
Analyzing Data or Information4.525.56
Communicating with Supervisors, Peers, or Subordinates4.525.44
Evaluating Information to Determine Compliance with Standards4.485
Making Decisions and Solving Problems4.45.48

Financial Examiners Work styles

Below are the work styles involved in being financial examiners according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest).

   
Work StyleImportance
Integrity4.88
Analytical Thinking4.64
Attention to Detail4.48
Dependability4.48
Self Control4.32

Metro Areas Sorted by Total Employment for
Financial Examiners

Listed below are the 10 largest metro areas based on the total number of people employed in Financial Examiners jobs , as of 2019

   
Metro AreaTotal EmploymentAnnual Mean Salary
Los Angeles-Long Beach-Anaheim1,970 $103,540
San Francisco-Oakland-Hayward1,710 $122,770
Dallas-Fort Worth-Arlington1,620 $100,920
Phoenix-Mesa-Scottsdale1,360 $61,540
Denver-Aurora-Lakewood1,140 $82,780
Des Moines-West Des Moines1,110 $62,850
Columbus800 $75,260
San Juan-Carolina-Caguas790 $43,070
Miami-Fort Lauderdale-West Palm Beach760 $85,980
Austin-Round Rock680 $75,130

Compare Total Employment & Salaries for Financial Examiners

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Employment
Salary

Total employment and salary for professions similar to financial examiners

Source : 2018 Occupational Employment Statistics and 2016-26 Employment Projections, Bureau of Labor Statistics, BLS.gov; O*NET® 24.1 Database, O*NET OnLine, National Center for O*NET Development, Employment & Training Administration, U.S. Department of Labor, onetonline.org

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We have some additional detailed pages at the state level for Financial Examiners.

Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.