As the demand for financial services grows, so does the demand for financial examiners. These professionals work long hours to review balance sheets and report errors. Their jobs require strict deadlines and must be able to find mistakes that could cost an institution money. As a result, the demand for these professionals is slated to increase over the next decade.
Financial examiners conduct investigations and enforce laws that govern financial institutions. These professionals examine financial records, operating documents, and workforce structure. They also review and verify the balance sheets, expense accounts, and loan documents of institutions. They may also prepare reports, exhibits, and supporting schedules. They may also supervise other examiners.
Financial examiners should possess a bachelor’s degree or an equivalent degree in accounting or finance. Candidates should be able to pass four exams administered by the SOFE in order to earn the CFE credential. The exams are designed to test a person’s knowledge and abilities of financial analysis. If the position requires special training, earning a master’s degree may be beneficial.
A financial examiner’s job requires math skills and the ability to explain complex technical information clearly. A financial examiner earns a median annual salary of $81,410. The lowest-paid 10 percent make $48,830 while the highest-paid 10 percent earn over $160,850. However, educational requirements for this position vary by location and company.
To become a financial examiner, you need a bachelor’s degree and at least six credit hours of accounting coursework. An internship at a financial institution can increase your chances of employment. While you’re in training, you’ll typically work alongside experienced examiners. To advance your career, you can also earn a master’s degree in accounting or a related field. Some employers prefer candidates who hold a Master of Science in Finance or a Master of Accountancy.
A financial examiner works to protect the public from financial crises. They ensure that banks adhere to regulations and laws. They also create reports about their findings to help financial institutions remain compliant. To be a successful financial examiner, you must be up-to-date with new regulations and study the effects they will have on the industry. The job of a financial examiner is an exciting and fulfilling one. The right candidate will be able to excel in the field and make a valuable contribution to society.
Financial examiners monitor lending activity to ensure compliance with the law. They also ensure that borrowers are not harmed by predatory lending practices. In addition, they ensure that financial institutions have adequate cash reserves to cover any unexpected losses. These are just a few of the many important responsibilities of a financial examiner. The more you know about finance, the easier it will be to get ahead in your career. So go ahead and apply for a financial examiner job!
If you are interested in becoming a financial examiner, you may consider pursuing a master’s degree in accounting. The MS in accounting program will help you to master the principles and practice of accounting. The curriculum includes several courses related to accounting. Students can choose a Fundamentals track if they have no prior accounting education.