Financial Examiners
Financial examiners enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. They examine, verify, or authenticate records.
The financial examiner's job description includes conferring with others about financial matters, coordinating with external parties to exchange information, advising others on legal or regulatory compliance matters and preparing operational reports.
To be eligible to become a financial fraud examiner, candidates should earn a bachelors degree in accounting, business, finance, or a related field. Entry-level examiners are trained on the job by senior examiners.
Financial fraud examiners need strong analytical skills to evaluate how well the managers of financial institutions are handling risk and whether the individual loans the institution makes are safe. They should pay close attention to details when reviewing balance sheets to identify risky assets. Along with good maths skills, a financial examiner should be an expert in writing technical information.
The certified fraud exam credential is recognized and accepted worldwide as the standard of professional excellence. A certified fraud examiners’ salary has a significant earning advantage compared to a non-certified fraud examiner's salary. Other factors considered to determine salary are expertise, experience, location and education.
Financial fraud examiners mostly work for commercial banks, credit unions, mortgage companies, financial institutions, the insurance industry, and the state or federal government.
A financial examiner protects people and their finance to feel more confident about who is handling their money. To be a successful financial examiner and technical skills, one must be efficient at organizing, communicating, researching, and critical thinking.
Qualifications
Every career requires an element of study and academic qualification, and there can be several study routes and pathways you can take. In following any academic pathway you will study subjects that contribute to the specialised knowledge required to achieve your career goals. These qualifications provide a future employer with the evidence that you have the desired knowledge, understanding and experience of their industry, so it’s important to consider the various types of qualifications available to you and to understand how they can boost your career and create opportunities for you.
- MBA Banking and Finance
- PGDM Banking and Financial Services
- Bachelor's Any Subject
Tasks
- Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
- Review and analyze new, proposed, or revised laws, regulations, policies, and procedures to interpret their meaning and determine their impact.
- Plan, supervise, and review work of assigned subordinates.
- Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
- Examine the minutes of meetings of directors, stockholders, and committees to investigate the specific authority extended at various levels of management.
- 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.
- Review balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities.
- 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.
- Establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation.
Progression Routes
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