Bank Examiner Salary
Job Description for Bank Examiner
Bank examiners are a type of financial auditor that functions as part of a control system in the financial market. Their main responsibility is to ensure that banks and similar financial institutions are operating in a way that is appropriately ethical and legal at all times. They do this using a set of standards and rules set by the government and by their company. Daily duties and responsibilities include various forms of monitoring and assessing bank performance, which often includes going through records to ensure compliance, communicating with employees of all ranks about various protocol and procedural questions, and conducting physical inspections. Records may come either in physical form or electronic form, so basic computer skills are often required.Read More...
Many individuals in these positions work in teams, but some are more independent depending on the area and job specifics. These individuals may focus on a limited area or a large area requiring substantial travel. However, aside from traveling between institutions, the work is largely done in an indoor environment with minimal physical requirements.
Requirements for bank examiner jobs vary by position and company, but a bachelor's or master's degree in business, accounting, finance, or a related field is generally the minimum education required. Certifications such as a Certified Information Systems Auditor (CISA) or Certified Information Systems Security Professional (CISSP) designations are highly recommended. Work experience requirements usually start around three years in regulatory-related position, but some jobs have higher requirements based on pay or status.
Bank Examiner Tasks
- Offer improvements and recommendations to the bank.
- Inspect and evaluate records and reports to ensure compliance with regulations and laws and to determine the financial health and status of the bank.
- Audit financial institutions including payroll records, hiring practices, handling of client requests, and the amount of cash in facility.
- Prepare finding reports for managers, directors or board members.
Bank Examiner Job Listings
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Popular Employer Salaries for Bank Examiner
Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration (NCUA), Federal Reserve Bank, and FDIC are some prominent firms with considerable interest in employing a large team of Bank Examiners. Those at Federal Reserve Bank of New York can expect to make the most, with the company offering a median salary of $182K.
Popular Skills for Bank Examiner
Bank Examiners report a narrow range of specific skills. Most notably, skills in Risk Management / Risk Control, Banking, Regulatory Compliance, and Financial Analysis are correlated to pay that is above average. Skills that pay less than market rate include Financial Analysis. Those educated in Financial Analysis tend to be well versed in Regulatory Compliance and Banking.
Pay by Experience Level for Bank Examiner
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Although individuals who have less than five years' experience earn $56K on average, people with five to 10 years benefit from a notably larger average of $85K. Professionals who spend a good 10 to 20 years in the workforce haul in an average of $104K. Old hands who claim more than two decades on the job enjoy average earnings of $131K.
Pay Difference by Location
Home to some of the best pay for Bank Examiners, Charlotte offers exceptional salaries, 77 percent above the national average. Bank Examiners can also look forward to large paychecks in cities like New York (+51 percent), Atlanta (+45 percent), Washington (+26 percent), and San Francisco (+23 percent). Location is a huge contributor to overall pay, with Bank Examiners in Kansas City earning a whopping 31 percent below the national average. Employers also pay below the national average in Denver (25 percent lower) and Cleveland (13 percent lower).