Financial Examiner

Also called: Bank Compliance Officer, Bank Examiner, Bank Secrecy Act Anti-Money Laundering Officer (BSA/AML Officer), Community Reinvestment Act Officer (CRA Officer), Compliance Analyst

Varies

estimated salary

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.

 

  • 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.
  • Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
  • Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
  • 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.
  • Examine the minutes of meetings of directors, stockholders, and committees to investigate the specific authority extended at various levels of management.
  • Train other examiners in the financial examination process.
  • Establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation.
  • Review and analyze new, proposed, or revised laws, regulations, policies, and procedures to interpret their meaning and determine their impact.
  • Provide regulatory compliance training to employees.
  • Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures.
  • 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.
  • Verify and inspect cash reserves, assigned collateral, and bank-owned securities to check internal control procedures.
  • Confer with officials of real estate, securities, or financial institution industries to exchange views and discuss issues or pending cases.
Work Context
  • Electronic Mail — 96% responded "Every day".
  • Spend Time Sitting — 79% responded "Continually or almost continually".
  • Face-to-Face Discussions — 79% responded "Every day".
  • Work With Work Group or Team — 74% responded "Extremely important".
  • Contact With Others — 66% responded "Constant contact with others".
  • Indoors, Environmentally Controlled — 87% responded "Every day".
  • Telephone — 48% responded "Every day".
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Work Activities
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • 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.
  • 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.
  • 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.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
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Detailed Work Activities
  • 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.
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Knowledge

English Language
  • Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Economics and Accounting
  • Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Law and Government
  • Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
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Skills

Reading Comprehension
  • Understanding written sentences and paragraphs in work related documents.
Critical Thinking
  • Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Writing
  • Communicating effectively in writing as appropriate for the needs of the audience.
Speaking
  • Talking to others to convey information effectively.
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Abilities

Written Comprehension
  • The ability to read and understand information and ideas presented in writing.
Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
Inductive Reasoning
  • The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Deductive Reasoning
  • The ability to apply general rules to specific problems to produce answers that make sense.
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Personality

People interested in this work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
  • Achievement/Effort
  • Persistence
  • Initiative
  • Leadership
  • Cooperation
  • Concern for Others
  • Social Orientation
  • Self Control
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Technology

You might use software like this on the job:

Graphics or photo imaging software
  • Microsoft Visio Hot Technology
Word processing software
  • Microsoft Word Hot Technology
  • Word processing software
Operating system software
  • Microsoft Windows Hot Technology
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