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Career and Education Opportunities for Financial Examiners in Little Rock, Arkansas

Little Rock, Arkansas provides a wide variety of opportunities, both career and educational, for financial examiners. Currently, 180 people work as financial examiners in Arkansas. This is expected to grow 12% to 210 people by 2016. This is not quite as good as the nation as a whole, where employment opportunities for financial examiners are expected to grow by about 41.2%. In general, financial examiners enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions.

A person working as a financial examiner can expect to earn about $26 hourly or $55,150 yearly on average in Arkansas and about $34 hourly or $70,930 annually on average in the U.S. as a whole. Earnings for financial examiners are better than earnings in the general category of Accounting and Auditing in Arkansas and better than general Accounting and Auditing category earnings nationally. Jobs in this field include: bank compliance officer, accountant, and home mortgage disclosure act specialist .

The Little Rock area is home to twenty-five schools of higher education, including five within twenty-five miles of Little Rock where you can get a degree as a financial examiner. Financial examiners usually hold a Bachelor's degree, so you can expect to spend about four years studying to be a financial examiner if you already have a high school diploma.

CAREER DESCRIPTION: Financial Examiner

Financial Examiner video from the State of New Jersey Dept. of Labor and Workforce Development

In general, financial examiners enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. They also may examine, verify correctness of, or establish authenticity of records.

Every day, financial examiners are expected to be able to think through problems and come up with general rules. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.

It is important for financial examiners to formulate and review work of assigned subordinates. They are often called upon to investigate efforts of institutions to enforce laws and regulations and to insure legality of transactions and operations or financial solvency. They also inspect balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities. They are sometimes expected to recommend actions to insure adherence to laws and regulations, or to safeguard solvency of institutions. Somewhat less frequently, financial examiners are also expected to evaluate data processing applications for institutions under examination to evolve recommendations for coordinating existing systems with examination procedures.

Financial examiners sometimes are asked to train other examiners in the financial examination process. They also have to be able to inspect audit reports of internal and external auditors to track adequacy of scope of reports or to discover specific weaknesses in internal routines and inspect and analyze new, proposed, or revised laws, regulations and procedures to interpret their meaning and decide on their impact. And finally, they sometimes have to establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation.

Like many other jobs, financial examiners must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Little Rock include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Financial Examiner Training

University of Central Arkansas - Conway, AR

University of Central Arkansas, 201 Donaghey Ave, Conway, AR 72035-0001. University of Central Arkansas is a large university located in Conway, Arkansas. It is a public school with primarily 4-year or above programs. It has 12,961 students and an admission rate of 49%. University of Central Arkansas has a bachelor's degree and a master's degree program in Accounting which graduated sixty-three and twenty students respectively in 2008.

Hendrix College - Conway, AR

Hendrix College, 1600 Washington Ave, Conway, AR 72032-3080. Hendrix College is a small college located in Conway, Arkansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,350 students and an admission rate of 94%. Hendrix College has a bachelor's degree and a master's degree program in Accounting which graduated three and four students respectively in 2008.

Pulaski Technical College - North Little Rock, AR

Pulaski Technical College, 3000 W Scenic Dr, North Little Rock, AR 72118-3347. Pulaski Technical College is a medium sized college located in North Little Rock, Arkansas. It is a public school with primarily 2-year programs and has 9,092 students. Pulaski Technical College has a one to two year program in Accounting which graduated eleven students in 2008.

University of Arkansas at Little Rock - Little Rock, AR

University of Arkansas at Little Rock, 2801 S University Ave, Little Rock, AR 72204. University of Arkansas at Little Rock is a large university located in Little Rock, Arkansas. It is a public school with primarily 4-year or above programs and has 11,694 students. University of Arkansas at Little Rock has 2 areas of study related to Financial Examiner. They are:

  • Accounting, bachelor's degree and postbaccalaureate certificate which graduated forty-four and five students respectively in 2008.
  • Taxation, postbaccalaureate certificate which graduated 7 students in 2008.

Ouachita Technical College - Malvern, AR

Ouachita Technical College, One College Cir, Malvern, AR 72104-0816. Ouachita Technical College is a small college located in Malvern, Arkansas. It is a public school with primarily 2-year programs and has 1,600 students. Ouachita Technical College has a one to two year and an associate's degree program in Accounting which graduated four and one students respectively in 2008.

CERTIFICATIONS

Certified Forensic Accountant: Forensic accountants are professionals who use a unique blend of education and experience to apply accounting, auditing, and investigative skills to uncover truth, form legal opinions, and assist in investigations.

For more information, see the American College of Forensic Examiners website.

Associate in Premium Auditing: The Associate in Premium Auditing program provides a sold foundation in essential auditing, accounting, and insurance principles.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Risk Management for Public Entities: Understand the unique nature of the public sector.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Certified Treasury Professional Associate: We recognize the accomplishments of these full-time students who successfully completed the Corporate Treasury Management program at their college/university and passed the CTP exam to earn the Certified Treasury Professional Associate credential.

For more information, see the Association for Financial Professionals website.

Certified Fraud Examiner: The ACFE established and administers the Certified Fraud Examiner (CFE) designation.

For more information, see the Association of Certified Fraud Examiners website.

Certified Bank Auditor: The purpose of BAI Center for Certification - Certified Bank Auditor® (CBA) Continuing Professional Education (CPE) Program is to promote professional development and to provide a means for recognizing CBAs to keep current with industry changes or furthering their own development in banking, technology, auditing, or other disciplines that contribute to a CBA?s growth and development.

For more information, see the BAI Center for Certification website.

International Certificate in Banking Risk and Regulation: The role of risk management is becoming more important as both banks and supervisors around the world increasingly recognize that sound risk management practices are vital, not only for the success of individual banks, but also for the banking system as a whole.

For more information, see the Global Association of Risk Professionals website.

Certified IRA Services Professional: Applicable to financial services professionals who have dedicated IRA operational and technical experience.

For more information, see the Institute of Certified Bankers website.

Accredited Insurance Examiner: An Accredited Insurance Examiner (AIE) is awarded to insurance regulatory professionals who have been extensively trained in one of two primary fields of insurance regulation, Property and Casualty or Life and Health.

For more information, see the Insurance Regulatory Examiners Society website.

Certified Investment Management Analyst: The CIMA offers an intense educational experience focusing on asset allocation, manager search and selection, investment policy and performance measurement.

For more information, see the Investment Management Consultants Association website.

Economic Development Finance Professional: In NDC's EDFP Certification Program you will build the capacity to translate development opportunities into results for their communities.

For more information, see the The National Development Council website.

LOCATION INFORMATION: Little Rock, Arkansas

Little Rock, Arkansas
Little Rock, Arkansas photo by Broooooooce

Little Rock is located in Pulaski County, Arkansas. It has a population of over 189,515, which has grown by 3.5% in the past ten years. The cost of living index in Little Rock, 87, is well below the national average. New single-family homes in Little Rock cost $236,400 on average, which is far greater than the state average. In 2008, three hundred sixty-one new homes were built in Little Rock, down from seven hundred thirty-one the previous year.

The top three industries for women in Little Rock are health care, educational services, and public administration. For men, it is health care, professional, scientific, and technical services, and construction. The average commute to work is about 20 minutes. More than 35.5% of Little Rock residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.4%, is higher than the state average.

The unemployment rate in Little Rock is 6.1%, which is less than Arkansas's average of 6.9%.

The percentage of Little Rock residents that are affiliated with a religious congregation, 59.1%, is more than both the national and state average. Macedonia Spiritual Church, Baseline Christian Church and Baseline Missionary Baptist Church are all churches located in Little Rock. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.

Little Rock is home to the Rock Creek Golf Course and the Barton Coliseum as well as McArthur Park Historic District and Meriwether Park. Shopping malls in the area include Mainstreet Market Shopping Center, Market Street Plaza Shopping Center and Markham Plaza Shopping Center. Visitors to Little Rock can choose from LA Quinta - Inns- Medical Center Area, Hampton Inn & Suites and Acme Motel for temporary stays in the area.