Financial Examiner Salary
The average pay for a Financial Examiner is $62,555 per year. A skill in Regulatory Compliance is associated with high pay for this job.
|Salary||$44,991 - $90,741|
|Bonus||$1,014 - $11,836|
|Total Pay (||$45,323 - $95,541|
Job Description for Financial Examiner
Financial examiners review financial transactions to determine whether activities of companies are in compliance with rules and regulations set by governing financial institutions. Examples of such transactions include tax records, expense accounts, balance sheets, and loan documents. These professionals work in a variety of settings within the finance industry, including federal and state governments. Some examiners are also employed by banks, healthcare providers, and insurance companies.Read More...
These examiners assess organizations’ internal abilities to manage risk and conduct meetings with executives to review findings of violations and how to mitigate them. They are responsible for preparing examination reports that cover findings of their risk assessments and recommended corrective actions. Financial examiners also evaluate proposed or revised finance laws to identify their effects on the organizations they serve. Due to the nature of this work, strong mathematical aptitude and computer skills are necessary. Working in a team environment is required as well. Financial examiners collaborate regularly with firm personnel to ensure prepared business records meet specific financial standards. They may supervise and provide guidance to less experienced or entry-level financial examiners.
Education requirements for financial examiners typically include a minimum of a bachelor’s degree in finance, accounting, business administration, or a related subject. At least some coursework in accounting is often preferred. Smaller companies may accept an associate’s degree in accounting with relevant experience. Examiners work full time in office settings. Positions may require occasional extended work hours to evaluate documents from large organizations and travel to meet with representatives from financial institutions.
Financial Examiner Tasks
- Establish and implement company guidelines for procedures and policies that are in compliance with new and revised regulations.
- Review, determine impact of, and accept or reject applications for mergers, acquisitions, and establishment of new institutions.
- Review audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines.
- Recommend solutions if financial transactions are not in compliance with laws and regulations.
- Confirm financial institutions' assets and liabilities and the legality of their operations and transactions.
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Rated 5 out of 5
based on 12 votes.