How Do I Become a Financial Examiner?

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Have you ever thought of the financial field when searching for a career? A financial examiner belongs to a category of professionals who serve as the state, major corporation and federal government’s watchdogs. A financial examiner monitors every single thing from financial and security companies to real estate firms in order to ensure that their dealings are in conformance with the law. A financial examiner works in virtually any industry, but a large number of financial examiners work with the local, state, and federal government agencies. Others fill positions in commodity contracts, securities, banks, healthcare, and insurance services.

A financial examiner usually works 40 hours a week; however, a top-level examiner may work for longer hours when he or she researches and analyzes the information received from large companies. For a lot of financial examiners, the long hours are all worth it. These professionals enjoy superb health insurance benefits and comfortable work environment.

According to the United States Bureau of Labor Statistics (BLS), as of May 2012, the median annual salary for financial examiners was $75,800 (at $36.44 per hour). Higher-level financial examiners may earn over $134,000 per year.

Educational Requirements of Becoming a Financial Examiner

Financial examiners will need to obtain a Bachelor’s degree in finance, accounting, or any other related field. Although there are no specialized financial examiner institutions, most 4-year colleges and universities provide students with the opportunity to major in accounting and other financial courses. More than ten percent of financial examiners obtain a Master’s degree. In 2010, just three percent of financial examiners were not college degree holders.

A large number of financial examiners start their careers carrying out clerical tasks like inputting financial and tax information into computer databases. As they climb up the career ladder, they take on more duties analyzing data, supervising others and heading their own investigations.

In addition to experience and education, obtaining certification can set a financial examiner apart from others in the same profession. The following list of certifications and accreditation are available according to the Society of Financial Examiners:

•Certified Financial Examiner
•Accredited Financial Examiner
•Automated Examination Specialist
•Certified Financial Examiner-financial/Ratings Analyst
•Accredited Financial Examiner-Financial/Ratings Analyst

In order to obtain any of the aforementioned certification or accreditation, a financial examiner must ensure that they pass the test and fulfill the continuing education obligations. Getting financial examiner training on the internet can assist you in preparing for certification examinations.

Career Outlook of Financial Examiner

According to the United States Bureau of Labor Statistics, hiring of financial examiners is predicted to grow by twenty percent (20%) from the year 2008 to the year 2018. There is no doubt that this growth is considered to be a little faster than average, and this should result in about sixteen thousand job vacancies through 2018.

If you are a person who simply enjoys number crunching, and you also have a strong interest in finance law, then being a financial examiner will definitely be a truly great and financially rewarding career choice for you.