The career I am researching is that of a financial examiner. Basically, a financial examiner goes over balance sheets and other financial statements to ensure that all laws governing financial institutions and transactions are being followed. They also asses the level of risk versus reward in loans, as well as the management of banks(Bureau of Labor Statistics). I chose this career because it is in the field of finance, which is just about the only major I know I want to pursue. Financial examiners typically work in either risk scoping or consumer compliance. The major duties for an examiner working in consumer compliance would be to monitor lending activity to make sure that there is no discrimination, and that the lenders are treating all
…show more content…
Most of their work keeps them working in an office, but they must frequently travel onsite to inspect a bank(Bureau of Labor Statistics). The most rigorous physical activity that a financial will be expected to do is that they may occasionally need to carry files by hand. So pretty much no physical requirements. They also rarely get injured, save the occasional coffee-spill or paper cut. No special equipment is required, only a computer and a brain. In 2012, there were approximately 29,200 financial examiners. Key industries for financial examiners were the finance and insurance industry, as well as the government. From 2012-2022, employment is expected to grow by about 11% in the finance and insurance field, but is expected to decline by 3% in the government. Generally, employment increases during times of financial unrest, when more examiners are required to enforce regulation (Bureau of Labor …show more content…
There is no prior work experience required. Once hired, examiners will receive on-the-job training, and entry-level employees are supervised by senior examiners as they learn their job duties. There are 4 major qualities that a financial examiner needs to succeed. They must have excellent analytical skills, basic math skills, good writing skills, and must be very detail oriented (Bureau of Labor Statistics). Obviously, analytical and math skills are required, as the job is about looking at balance sheets to make sure everything adds up legally. Writing skills are required because examiners must write reports and explain technical details to judge a company’s worth or stability. There is little room for advancement. Depending on the company, it usually requires a master’s degree or becoming a CPA after a few years to become a senior examiner (Bureau of Labor
Most of their work keeps them working in an office, but they must frequently travel onsite to inspect a bank(Bureau of Labor Statistics). The most rigorous physical activity that a financial will be expected to do is that they may occasionally need to carry files by hand. So pretty much no physical requirements. They also rarely get injured, save the occasional coffee-spill or paper cut. No special equipment is required, only a computer and a brain. In 2012, there were approximately 29,200 financial examiners. Key industries for financial examiners were the finance and insurance industry, as well as the government. From 2012-2022, employment is expected to grow by about 11% in the finance and insurance field, but is expected to decline by 3% in the government. Generally, employment increases during times of financial unrest, when more examiners are required to enforce regulation (Bureau of Labor …show more content…
There is no prior work experience required. Once hired, examiners will receive on-the-job training, and entry-level employees are supervised by senior examiners as they learn their job duties. There are 4 major qualities that a financial examiner needs to succeed. They must have excellent analytical skills, basic math skills, good writing skills, and must be very detail oriented (Bureau of Labor Statistics). Obviously, analytical and math skills are required, as the job is about looking at balance sheets to make sure everything adds up legally. Writing skills are required because examiners must write reports and explain technical details to judge a company’s worth or stability. There is little room for advancement. Depending on the company, it usually requires a master’s degree or becoming a CPA after a few years to become a senior examiner (Bureau of Labor