Summary Report for:
13-2061.00 - Financial Examiners
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.
Sample of reported job titles: Bank Secrecy Act Anti-Money Laundering Officer (BSA/AML Officer), Community Reinvestment Act Officer (CRA Officer), Credit Union Examiner, Credit Union Field Examiner, Examining Officer, Home Mortgage Disclosure Act Specialist (HMDA Specialist), Principal Examiner, Senior Capital Markets Specialist, Senior Examiner, Supervisory Examiner
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Detailed Work Activities | Work Context | Job Zone | Education | Credentials | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment | Job Openings | Additional Information
- Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
- 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.
- Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
- Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
- 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.
- Review balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities.
- Plan, supervise, and review work of assigned subordinates.
- Review audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines.
- Train other examiners in the financial examination process.
- Review and analyze new, proposed, or revised laws, regulations, policies, and procedures to interpret their meaning and determine their impact.
- Examine the minutes of meetings of directors, stockholders and committees to investigate the specific authority extended at various levels of management.
- Confer with officials of real estate, securities, or financial institution industries to exchange views and discuss issues or pending cases.
- Establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation.
- Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures.
- Verify and inspect cash reserves, assigned collateral, and bank-owned securities to check internal control procedures.
- Provide regulatory compliance training to employees.
- Review applications for mergers, acquisitions, establishment of new institutions, acceptance in Federal Reserve System, or registration of securities sales to determine their public interest value and conformance to regulations, and recommend acceptance or rejection.
Tools & Technology
Tools used in this occupation:
Technology used in this occupation:
- Compliance software — NILS INSource; ODEN Insurance Services State Rules & Regulations; Oversight Systems software; System for Electronic Rate and Form Filing SERFF (see all 5 examples)
- Data base user interface and query software — Microsoft Access; Structured query language SQL
- Enterprise resource planning ERP software — SAP software
- Financial analysis software — ACL Business Assurance Analytics software; Financial transaction analysis software; General Examination System GENESYS; PricewaterhouseCoopers TeamMate (see all 5 examples)
- Graphics or photo imaging software — Microsoft Visio
- Information retrieval or search software — LexisNexis software; Westlaw
- Internet browser software — Web browser software
- Office suite software — Microsoft Office software
- Presentation software — Microsoft PowerPoint
- Project management software — Investigation management software; Microsoft Project; Microsoft SharePoint; Scrum software
- Spreadsheet software — Microsoft Excel
- Word processing software — Microsoft Word
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Law and Government — Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- 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.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Management of Personnel Resources — Motivating, developing, and directing people as they work, identifying the best people for the job.
- Speaking — Talking to others to convey information effectively.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Coordination — Adjusting actions in relation to others' actions.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Instructing — Teaching others how to do something.
- Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Mathematics — Using mathematics to solve problems.
- Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
- Time Management — Managing one's own time and the time of others.
- 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.
- Negotiation — Bringing others together and trying to reconcile differences.
- Operations Analysis — Analyzing needs and product requirements to create a design.
- Persuasion — Persuading others to change their minds or behavior.
- Service Orientation — Actively looking for ways to help people.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- 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 there is a problem.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Speech Clarity — The ability to speak clearly so others can understand you.
- Speech Recognition — The ability to identify and understand the speech of another person.
- 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).
- Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
- Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
- 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.
- Originality — The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
- Fluency of Ideas — The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Perceptual Speed — The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.
- Selective Attention — The ability to concentrate on a task over a period of time without being distracted.
- Speed of Closure — The ability to quickly make sense of, combine, and organize information into meaningful patterns.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- 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.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Communicating with Persons Outside 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.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
- Coordinating the Work and Activities of Others — Getting members of a group to work together to accomplish tasks.
- Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
- Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
- Training and Teaching Others — Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
- Coaching and Developing Others — Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
- Estimating the Quantifiable Characteristics of Products, Events, or Information — Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
- Provide Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
- Guiding, Directing, and Motivating Subordinates — Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
- Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
- Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
Detailed Work Activities
- Supervise employees.
- Examine financial records or processes.
- Prepare operational reports.
- Examine financial records.
- Advise others on legal or regulatory compliance matters.
- Implement financial decisions.
- Review license or permit applications.
- Train personnel to enhance job skills.
- Verify accuracy of financial information.
- Confer with others about financial matters.
- Monitor financial indicators.
- Evaluate applicable laws and regulations to determine impact on organizational activities.
- Establish organizational guidelines or policies.
- Monitor organizational processes.
- Train personnel in organizational or compliance procedures.
- Electronic Mail — 96% responded “Every day.”
- Face-to-Face Discussions — 92% responded “Every day.”
- Spend Time Sitting — 68% responded “Continually or almost continually.”
- Indoors, Environmentally Controlled — 80% responded “Every day.”
- Freedom to Make Decisions — 52% responded “A lot of freedom.”
- Structured versus Unstructured Work — 48% responded “A lot of freedom.”
- Telephone — 52% responded “Every day.”
- Work With Work Group or Team — 52% responded “Extremely important.”
- Contact With Others — 60% responded “Contact with others most of the time.”
- Duration of Typical Work Week — 60% responded “More than 40 hours.”
- Impact of Decisions on Co-workers or Company Results — 44% responded “Very important results.”
- Importance of Being Exact or Accurate — 44% responded “Very important.”
- Letters and Memos — 52% responded “Once a week or more but not every day.”
- Frequency of Decision Making — 36% responded “Every day.”
- Time Pressure — 64% responded “Once a week or more but not every day.”
- Responsibility for Outcomes and Results — 48% responded “High responsibility.”
- Coordinate or Lead Others — 56% responded “Very important.”
- Deal With External Customers — 36% responded “Very important.”
- Physical Proximity — 54% responded “Slightly close (e.g., shared office).”
- Importance of Repeating Same Tasks — 24% responded “Extremely important.”
- Level of Competition — 56% responded “Moderately competitive.”
|Title||Job Zone Four: Considerable Preparation Needed|
|Education||Most of these occupations require a four-year bachelor's degree, but some do not.|
|Related Experience||A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.|
|Job Training||Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.|
|Job Zone Examples||Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, art directors, and cost estimators.|
|SVP Range||(7.0 to < 8.0)|
Percentage of Respondents
|Education Level Required|
Interest code: EC
- Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Integrity — Job requires being honest and ethical.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- 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.
- Persistence — Job requires persistence in the face of obstacles.
- Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
- Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
- Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
- Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- 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.
- 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.
Wages & Employment Trends
|Median wages (2014)||$36.69 hourly, $76,310 annual|
|Employment (2014)||38,000 employees|
|Projected growth (2014-2024)||Faster than average (9% to 13%)|
|Projected job openings (2014-2024)||13,100|
|Top industries (2014)|
Source: Bureau of Labor Statistics 2014 wage data and 2014-2024 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.
Job Openings on the Web
Sources of Additional Information
Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.
- Financial examiners . Bureau of Labor Statistics, U.S. Department of Labor. Occupational Outlook Handbook, 2016-17 Edition.