What does a Bank Examiner do?
Published 3 min read
A bank examiner is an employee of a financial institution who audits the accounts of the bank and its customers to ensure compliance with banking regulations. The examiner also investigates potential fraud and makes recommendations to the bank's management on how to improve its operations.
Bank Examiner job duties include:
- Examine financial records to ensure compliance with laws and regulations
- Investigate the affairs of a bank or banking institution
- Conduct on-site inspections of banks and banking institutions
- Evaluate the adequacy of a bank's or banking institution's internal controls
- Review loan portfolios to assess risk
- Analyze a bank's or banking institution's financial statements
- Determine whether a bank or banking institution is operating in a safe and sound manner
- Identify and report any violations of laws or regulations
- Recommend corrective action to address any deficiencies identified
Bank Examiner Job Requirements
A Bank Examiner is responsible for ensuring the safety and soundness of banks and credit unions. They conduct on-site examinations of financial institutions and analyze their financial condition. Bank Examiners must have a bachelor's degree in business, economics, finance, or a related field. Some employers may require certification, such as the Certified Regulatory Compliance Manager designation from the Institute of Certified Bankers. Bank Examiners typically have several years of experience working in the banking industry before becoming an examiner.
Bank Examiner Skills
- Banking regulations
- Financial analysis
- Auditing
- Fraud detection
- Asset valuation
- Loan underwriting
- Credit analysis
- Risk management
- Financial statement analysis
- Cash flow analysis
- Budgeting
- Forecasting
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How to become a Bank Examiner
There are a few steps one must take in order to become a bank examiner. The first is to obtain a bachelor’s degree, although a master’s degree may be preferred by some employers. The second step is to complete on-the-job training, which is typically provided by the Federal Reserve Bank or the Comptroller of the Currency. After completing training, bank examiners must pass a written examination administered by their chosen regulatory agency. Finally, bank examiners must maintain their knowledge and skills by completing continuing education courses on a regular basis.
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