A bank examiner is a professional who is a Federal Reserve Bank employee. They are detail-oriented individuals who must ensure that chartered banks are operating in a correct and legal manner and that they are ethical with all monetary transactions. They must also verify that banks are operating in compliance with the requirements and guidelines set by the Federal Reserve Bank.
Bank examiners analyze banks' records both with on-site visits and via computer access to determine the bank's financial status and whether the bank is complying with the required operating and accounting procedures. They verify the banks' books checking both cash on hand and cash liabilities to insure that banks have the required level of assets. They also review the bank's lending policies to make sure they meet federal guidelines.
Bank examiners put the bank on notice if anything is not up to federal standards and then follow up to make sure any needed changes are implemented. They report to the bank board of directors or management when there is a need for such notice. Bank examiners are associated with a regional Federal Reserve Bank and they are charged with monitoring the activities of that reserve bank to insure it is in compliance with federal regulations.
To qualify for a position as a bank examiner a person must have strong educational credentials as well as extensive experience in finance and accounting including familiarity with spread sheets accounting programs and word processing. Many bank examiners have worked in jobs as bank managers so they are familiar with bank operations. Because it carries such great responsibility the standards are high to qualify for bank examiner jobs.
According to Cbsalary.com in the United States bank examiners earn a median annual salary of approximately $74000 per year.