Alabama Department of Labor

Labor Market Information Division
SOC: 13-2061 Financial Examiners
Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
Education: Most of these occupations require a four-year bachelor's degree, but some do not.
OJT: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Tasks: Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency. Prepare reports, exhibits and other supporting schedules that detail an institution's safety and soundness, compliance with laws and regulations, and recommended solutions to questionable financial conditions. Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions. Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts. Direct and participate in formal and informal meetings with bank directors, trustees, senior management, counsels, outside accountants and consultants to gather information and discuss findings. Review balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities. Plan, supervise, and review work of assigned subordinates. Review audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines. Train other examiners in the financial examination process. Review and analyze new, proposed, or revised laws, regulations, policies, and procedures to interpret their meaning and determine their impact. Examine the minutes of meetings of directors, stockholders and committees to investigate the specific authority extended at various levels of management. Confer with officials of real estate, securities, or financial institution industries to exchange views and discuss issues or pending cases. Establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation. Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures. Verify and inspect cash reserves, assigned collateral, and bank-owned securities to check internal control procedures. Provide regulatory compliance training to employees.
License: License not required.
Outlook: Good
Alabama Employment Outlook
Alabama Wage Data
Hourly Wage   Annual Wage
Entry $22.17   Entry $46,120.00
Mean $34.92   Mean $72,632.00
Experience $41.29 Experience $85,898.00

The data is based on the May 2017 Occupation Employment Survey employment and wage estimate file. The wages have been aged using the most current ECI factors reflecting wages as of June 2018.

Alabama Projections
Estimated Employment 2016Projected Employment 2026Annual Average OpeningsAnnual Growth Rate
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Occupational Videos
13-2061.00 Financial Examiners