How to Become a Financial Examiner

December 14, 2021

Demand for financial examiners is projected to skyrocket, with the Bureau of Labor Statistics reporting that their employment will rise 21% between 2021 and 2031, a rate that’s much faster than the average for all occupations.
Financial examiners play an essential role in modern organizations, as they’re responsible for ensuring the organization complies with all the laws regulating how an institution can handle monetary transactions. They’re literally in charge of self-regulation, which is incredibly important to both short-term and long-term organizational success.
This is a well-paid role, with the BLS reporting that financial examiners earned an average median annual salary of $81,430 as of May 2021.

Providing your organization with clear information, detailed reviews, and advice regarding financial laws, rules, and regulations.
Recommending corrective actions and policy changes to ensure the organization’s behavior complies with existing regulations.
Reviewing new regulations and rules to determine how they will impact the operations of your organization.
Designing guidelines to ensure the organization complies with new regulations and regulatory changes.
Monitoring the financial condition of banks and other financial institutions by reviewing balance sheets, operating income, and expenses, etc.
Building and delivering reports outlining an institution’s economic solvency.

Financial Literacy Skills – First, you’ll need to understand finances in detail, including financial situations, financial behavior of organizations, and financial activities. Without a solid grasp of financial literacy, you’d be lost as a financial examiner, since your role requires understanding what’s happening, reviewing the behavior to ensure it complies and suggesting strategic changes where they’re needed.
Traditional Accounting Skills – To understand whether or not your organization is following financial regulations, you’ll need traditional accounting skills so you can figure out what exactly the organization is doing. You’ll have to develop key accounting skills like knowledge of accounting principles and best practices, cost analyses and reductions, cash flow management, and general ledgers, etc., to be successful in this role.
Analytical Skills – Successful financial examiners must be capable of reviewing and analyzing data to determine the health of an organization, while also using the data to help understand how that organization has been behaving, and whether or not it’s in line with financial regulations governing its activities.
Problem-Solving Skills – Anytime that you uncover an issue where the organization is NOT following financial regulations, you’re going to need to develop a recommendation for solving that problem by reigning in its activities and ensuring it gets back into compliance, so creative problem-solving skills will be critical to your success.
Communications Skills – Financial examiners can’t just be number crunchers, as they’re responsible for understanding how numbers are arrived at, including ensuring that everything is happening in line with financial regulations. You’ll need to be able to clearly communicate why the economic activity is in line with, or violating, the rules regulating it, and you’ll have to be capable of presenting your findings and suggestions to senior leadership at the organization. In short, communications skills will be critical to your success in this industry.

Organizing, maintaining, reviewing, and interpreting financial records, statements, and activities.
Preparing, analyzing, and confirming the accuracy of financial records.
Understanding tax regulations and tax policies so you can ensure that taxes are paid properly and on time.
Identifying ways to increase revenue and value, reduce costs, and improve the bottom line.

Business intelligence
Economics
Finance
Leadership
Legal compliance and ethics
Marketing.
Qualitative decision making

Certified Financial Examiner (CFE Designation).
Certified Fraud Examiner.
Certified Regulatory Compliance Manager (CRCM).

No requirements to show up at set times or in physical locations.
Monthly class starts.
Accelerated courses.

A #2 ranking for Best Online Bachelor’s in Accounting Degrees by Great Business Schools.
A #2 ranking for Best Online Accounting Degrees from College Choice.

A #1 ranking for Best Online Colleges in Colorado from Best Colleges.
A #1 ranking for Best Online Colleges & Schools in Colorado from Best Accredited Colleges.
A #10 ranking for Best Online Colleges for ROI from OnlineU.

Return to All Posts

Colorado State University Global

555 17th St., Ste. 1000

Denver, CO 80202

enroll@csuglobal.edu

(800) 462-7845

Apply Now Request Info

For Students

Helpful Links

Stay Connected