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How to Become a Financial Examiner

Career News August 26, 2013

Accounting would be a good place to start for most who want to be a financial examiner. Charities, banks, credit unions, the government and anyone else who moves a lot of money around will need a financial examiner. Government is the most obvious employer, but these professionals are needed in South Dakota, as well as Washington D.C. The only limitation to the need for a financial examiner is that there must be a company and financial ledgers, and those can be found anywhere from Tonga to Topeka.

You may want to become a financial examiner if you like figuring out discrepancies, or perhaps even if you enjoy acting as a lawyer incognito. A financial adviser tries to see where money can be made, an analyst sees where trends are, and a forensic accountant tries to find where money may be hidden. The difference here is that the financial examiner has to see not only if the numbers add up, but must ensure all existing laws are complied with. You could describe it as macro accounting.

What Do You Need To Become A Financial Examiner?

First, you must hold a bachelor’s degree in accounting, economics, financial or related degrees, and you must be extremely good with math and analytics. Next you will need to seek certification, which entails understanding loans, balance sheets, and bank management, as well as three years experience and various classes and tests.

Then, you get your degree and get hired with a rising company. The analogy is not perfect, but you can see your new job as akin to a first year lawyer. They do the base work that sets the table for more experienced people to come in and do their job. It made by seen as trivial to an entry-level worker, but is essential in the overall function of the operation. From this job, you may join a certification group and will get oversight from a certified member. Continuing education classes follow and then you sit and take the exam.

What Can You Expect as a Financial Examiner?

Median income is just shy of $80,000 annually. It is growing and will reach 27% over the next 10 years. This data actually came before the new laws and restrictions of the Affordable Care Act in Washington. The new laws will create an even greater need for examiners at business, state and federal levels. It is a mentally rigorous job, but can be rewarding personally and financially.

It may be ironic that one of the most intensive of the financial jobs has the easiest description: everything. You look at a company to see if it is obeying the laws and is giving an honest accounting of its business activities. You also look to see if it is spending money wisely and if the company is sound financially. If you work for a bank or the government, you may look to see if the company can withstand a downturn. There are numerous areas you can look into as it meets your interests.

The greatest part of this job is that it’s not time limited. You can work significantly into your 70’s and even 80’s, as long as your mental abilities remain. Most of the companies or governments that would use your talents have excellent benefits packages. In many ways, it would be a perfect job; if you like puzzles, numbers, and can understand and apply the law.

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5 Program(s) Found
  • Online degrees offered include BA in Accounting, BA in Business Administration, MBA, and more.
  • Business students may be eligible for scholarships such as the Entrepreneurship Scholarship.
  • Courses help students develop knowledge of marketing, accounting, economic principles, and financial management.
  • Business Administration students can specialize in areas such as Entrepreneurship, Finance, and Project Management.
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
  • Online bachelor's and master's level Business programs are available.
  • Courses are designed to teach practical business solutions, with a career-focused curriculum.
  • Students can study in areas such as business, applied management, and business administration.
  • Experienced professionals equip students with a working knowledge of marketing, financing, accounting, and sales.
  • Students who have graduated high school in or before 2015 are eligible to apply.
  • Online Courses
5 Program(s) Found
  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
Show more [+]
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
Show more [+]
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits

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