Financial Examiner

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.

Important Qualities

Analytical skills. Financial examiners need to evaluate how well the managers of financial institutions are handling risk and whether the individual loans the institution makes are safe.

Detail oriented. Financial examiners must pay close attention to minutiae when reviewing balance sheets in order to identify risky assets.

Math skills. Financial examiners must do calculations and monitor balance sheets to ensure that a financial institution has available cash.

Writing skills. Financial examiners regularly write reports on the safety and soundness of financial institutions. They must be able to explain technical information clearly.

Personality

A3	Your Strengths	Importance	Characteristics of this Career
		93%	Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
		92%	Integrity - Job requires being honest and ethical.
		86%	Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
		85%	Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
		85%	Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
		78%	Self-Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
		73%	Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
		72%	Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
		71%	Initiative - Job requires a willingness to take on responsibilities and challenges.
		70%	Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
		69%	Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
		68%	Persistence - Job requires persistence in the face of obstacles.
		60%	Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
		56%	Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
		51%	Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.

A3	Your Strengths	Importance	Strengths
		95%	Enterprising - Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
		78%	Conventional - Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.

A3	Your Strengths	Importance	Values of the Work Environment
		78%	Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
		67%	Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
		61%	Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
		56%	Working Conditions - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
		56%	Recognition - Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.

Aptitude

A3	Your Strengths	Importance	Abilities \| Cognitive, Physical, Personality
		81%	Written Comprehension - The ability to read and understand information and ideas presented in writing.
		78%	Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
		78%	Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
		78%	Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
		75%	Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
		75%	Near Vision - The ability to see details at close range (within a few feet of the observer).
		75%	Written Expression - The ability to communicate information and ideas in writing so others will understand.
		75%	Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
		72%	Speech Clarity - The ability to speak clearly so others can understand you.
		72%	Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
		72%	Speech Recognition - The ability to identify and understand the speech of another person.
		69%	Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
		63%	Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
		53%	Flexibility of Closure - The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
		53%	Selective Attention - The ability to concentrate on a task over a period of time without being distracted.
		53%	Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.

A3	Your Strengths	Importance	Skills \| Cognitive, Physical, Personality
		64%	Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
		61%	Reading Comprehension - Understanding written sentences and paragraphs in work-related documents.
		61%	Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
		59%	Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
		59%	Speaking - Talking to others to convey information effectively.
		59%	Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
		59%	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.
		57%	Writing - Communicating effectively in writing as appropriate for the needs of the audience.
		57%	Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
		57%	Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
		55%	Learning Strategies - Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
		55%	Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
		55%	Mathematics - Using mathematics to solve problems.
		54%	Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.
		54%	Instructing - Teaching others how to do something.
		54%	Time Management - Managing one's own time and the time of others.
		52%	Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
		52%	Coordination - Adjusting actions in relation to others' actions.

Job Details

Responsibilities

Train personnel in organizational or compliance procedures.

Examine financial records or processes.

Evaluate applicable laws and regulations to determine impact on organizational activities.

Supervise employees.

Advise others on legal or regulatory compliance matters.

Monitor organizational processes.

Prepare operational reports.

Monitor financial indicators.

Monitor organizational processes.

Train personnel to enhance job skills.

Establish organizational guidelines or policies.

Coordinate with external parties to exchange information.

Confer with others about financial matters.

Verify accuracy of financial information.

Examine financial records.

Review license or permit applications.

Implement financial decisions.

Examine financial records or processes.

Confer with others about financial matters.

A3	Your Strengths	Importance	Attributes & Percentage of Time Spent
		99%	Electronic Mail - How often do you use electronic mail in this job?
		95%	Spend Time Sitting - How much does this job require sitting?
		95%	Face-to-Face Discussions - How often do you have to have face-to-face discussions with individuals or teams in this job?
		93%	Work With Work Group or Team - How important is it to work with others in a group or team in this job?
		90%	Contact With Others - How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
		87%	Indoors, Environmentally Controlled - How often does this job require working indoors in environmentally controlled conditions?
		84%	Telephone - How often do you have telephone conversations in this job?
		78%	Impact of Decisions on Co-workers or Company Results - What results do your decisions usually have on other people or the image or reputation or financial resources of your employer?
		76%	Coordinate or Lead Others - How important is it to coordinate or lead others in accomplishing work activities in this job?
		75%	Importance of Being Exact or Accurate - How important is being very exact or highly accurate in performing this job?
		69%	Responsibility for Outcomes and Results - How responsible is the worker for work outcomes and results of other workers?
		65%	Time Pressure - How often does this job require the worker to meet strict deadlines?
		65%	Letters and Memos - How often does the job require written letters and memos?
		65%	Structured versus Unstructured Work - To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?
		63%	Freedom to Make Decisions - How much decision making freedom, without supervision, does the job offer?
		61%	Physical Proximity - To what extent does this job require the worker to perform job tasks in close physical proximity to other people?
		60%	Frequency of Decision Making - How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
		56%	Deal With External Customers - How important is it to work with external customers or the public in this job?
		52%	Level of Competition - To what extent does this job require the worker to compete or to be aware of competitive pressures?
		59%	Duration of Typical Work Week - Number of hours typically worked in one week.

A3	Your Strengths	Importance	Tasks & Values
		93%	Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
		91%	Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
		88%	Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
		87%	Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
		81%	Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
		78%	Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
		77%	Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
		77%	Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
		77%	Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
		76%	Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
		76%	Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
		75%	Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
		74%	Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
		68%	Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.
		67%	Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
		66%	Judging the Qualities of Objects, Services, or People - Assessing the value, importance, or quality of things or people.
		65%	Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.
		64%	Monitoring Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
		60%	Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
		56%	Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
		56%	Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
		54%	Providing Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
		54%	Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
		54%	Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

What Financial Examiners Do

Financial examiners working in consumer compliance monitor lending activity to ensure that borrowers are treated fairly.

Financial examiners ensure compliance with laws that govern institutions handling monetary transactions. They review balance sheets, evaluate the risk level of loans, and assess bank management.

Duties

Financial examiners typically do the following:

Monitor the condition of banks and other financial institutions
Review balance sheets, operating income and expense accounts, and loan documentation to confirm an institution's assets and liabilities
Prepare reports that detail an institution’s safety and soundness
Examine the minutes of meetings of managers and directors
Train other examiners in the financial examination process
Review and analyze new regulations and policies to determine their impact on an institution
Establish guidelines for procedures and policies that comply with new and revised regulations

Financial examiners typically work in one of two main areas: risk assessment or consumer compliance.

Those working in risk assessment evaluate the health of financial institutions. Their role is to ensure that banks and other financial institutions offer safe loans and that they have enough cash on hand to manage unexpected losses. These procedures help ensure that the financial system as a whole remains stable. These examiners also evaluate the performance of bank managers.

Financial examiners working in consumer compliance monitor lending activity to ensure that borrowers are treated fairly. They ensure that banks extend loans that borrowers are likely to be able to pay back. They help borrowers avoid “predatory loans”—loans that may generate profit for banks through high interest payments but may be costly to borrowers and damage their credit scores. Examiners also ensure that banks do not discriminate against borrowers based on race, ethnicity, or other characteristics.

Work Environment

Financial examiners held about 65,600 jobs in 2022. The largest employers of financial examiners were as follows:

Credit intermediation and related activities	42%
Securities, commodity contracts, and other financial investments and related activities	15
Federal government	10
Management of companies and enterprises	9
State government, excluding education and hospitals	8

Financial examiners typically work in offices. They frequently have to travel to inspect a bank onsite.

Work Schedules

Most financial examiners work full time.

Getting Started

Education:

87%

Bachelor's Degree

Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.

How to Become a Financial Examiner

Professional certification, although not required, indicates competency for financial examiners who have it.

Financial examiners typically need a bachelor’s degree that includes some coursework in accounting. Entry-level examiners are trained on the job by senior examiners.

Education

Financial examiners typically need a bachelor’s degree to enter the occupation. A degree in business or a related field is common. Coursework should include accounting, finance, or related subjects.

Licenses, Certifications, and Registrations

Although it is not required, professional certification indicates competencies for financial examiners who have it. The Society of Financial Examiners (SOFE) offers the Accredited Financial Examiner (AFE) and the Certified Financial Examiner (CFE) designations. Both may be earned after completing extensive requirements and passing a series of examinations. Continuing education is required to maintain these designations.

Some financial examiners become Certified Public Accountants (CPAs). CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements.

Training

Once hired, financial examiners receive on-the-job training. Entry-level workers learn their job duties while supervised by senior examiners. The length of training varies but typically lasts more than 1 year.

Advancement

After a few years of experience, financial examiners may advance to a senior examiner position. Senior examiners handle more complex cases and may lead examination teams. Requirements for these positions vary, but employers often prefer candidates who have a master’s degree in either accounting or business administration or who are Certified Public Accountants (CPAs).

Job Outlook

Employment of financial examiners is projected to grow 20 percent from 2022 to 2032, much faster than the average for all occupations.

About 6,300 openings for financial examiners are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Employment

Demand for these workers has risen, particularly in the financial industry, because of the need for banking institutions to comply with federal regulation. More of these institutions are hiring financial examiners to help navigate the regulatory environment and reduce the cost of compliance. Financial examiners also will continue to be needed at the federal level to enforce regulations.

Contacts for More Information

For more information about financial examiners, visit

Federal Deposit Insurance Corporation

Consumer Financial Protection Bureau

For more information about the certification, visit

Society of Financial Examiners

For more information about the Certified Public Accountant (CPA) license, the Chartered Global Management Accountant (CGMA), and other designations, visit

American Institute of Certified Public Accountants (AICPA)

Similar Occupations

This table shows a list of occupations with job duties that are similar to those of financial examiners.

Occupation	Job Duties	Entry-Level Education	Median Annual Pay, May 2022
Accountants and Auditors	Accountants and auditors prepare and examine financial records.	Bachelor's degree	$78,000
Budget Analysts	Budget analysts help public and private organizations plan their finances.	Bachelor's degree	$82,260
Financial Analysts	Financial analysts guide businesses and individuals in decisions about expending money to attain profit.	Bachelor's degree	$96,220
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Tax Examiners and Collectors, and Revenue Agents	Tax examiners and collectors, and revenue agents determine how much is owed in taxes and collect tax from individuals and businesses on behalf of the government.	Bachelor's degree	$57,950
Management Analysts	Management analysts recommend ways to improve an organization’s efficiency.	Bachelor's degree	$95,290
Personal Financial Advisors	Personal financial advisors provide advice to help individuals manage their money and plan for their financial future.	Bachelor's degree	$95,390
Private Detectives and Investigators	Private detectives and investigators search for information about legal, financial, and personal matters.	High school diploma or equivalent	$52,120