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Career and Education Opportunities for Financial Examiners in Ontario, California

Many educational and employment opportunities exist for financial examiners in the Ontario, California area. There are currently 2,200 jobs for financial examiners in California and this is projected to grow by 9% to about 2,400 jobs by 2016. This is not quite as good as the national trend for financial examiners, which sees this job pool growing by about 41.2% over the next eight years. In general, financial examiners enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions.

The income of a financial examiner is about $37 per hour or $77,300 yearly on average in California. In the U.S. as a whole, their income is about $34 per hour or $70,930 annually on average. Financial examiners earn more than people working in the category of Accounting and Auditing generally in California and more than people in the Accounting and Auditing category nationally. Financial examiners work in a variety of jobs, including: bank compliance officer, compliance coordinator, and director of securities and real estate.

The Ontario area is home to twenty-two schools of higher education, including two within twenty-five miles of Ontario where you can get a degree as a financial examiner. The most common level of education for financial examiners is a Bachelor's degree. You can expect to spend about four years training to become 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 Ontario 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.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • 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.
  • 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.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Financial Examiner Training

Chaffey College - Rancho Cucamonga, CA

Chaffey College, 5885 Haven Ave, Rancho Cucamonga, CA 91737-3002. Chaffey College is a large college located in Rancho Cucamonga, California. It is a public school with primarily 2-year programs and has 20,486 students. Chaffey College has 2 areas of study related to Financial Examiner. They are:

  • Accounting, less than one year, one to two year, associate's degree, and two to four year which graduated six, four, eighteen, and zero students respectively in 2008.
  • Taxation, less than one year and two to four year which graduated eight and zero students respectively in 2008.

Barstow Community College - Barstow, CA

Barstow Community College, 2700 Barstow Road, Barstow, CA 92311. Barstow Community College is a small college located in Barstow, California. It is a public school with primarily 2-year programs and has 2,318 students. Barstow Community College has a less than one year and an associate's degree program in Accounting which graduated two and three 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: Ontario, California

Ontario, California
Ontario, California photo by Sfan00_IMG

Ontario is situated in San Bernardino County, California. It has a population of over 171,691, which has grown by 8.7% over the last ten years. The cost of living index in Ontario, 127, is far greater than the national average. New single-family homes in Ontario are priced at $164,100 on average, which is far less than the state average. In 2008, eight new homes were constructed in Ontario, down from three hundred seven the previous year.

The three most popular industries for women in Ontario are health care, educational services, and accommodation and food services. For men, it is construction, administrative and support and waste management services, and accommodation and food services. The average commute to work is about 31 minutes. More than 10.5% of Ontario residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 2.7%, is lower than the state average.

The unemployment rate in Ontario is 14.9%, which is greater than California's average of 12.3%.

The percentage of Ontario residents that are affiliated with a religious congregation, 42.0%, is less than both the national and state average. Kingdom Hall of Jehovahs Witnesses, Country Church of Ontario and Grace Missionary Baptist Church are all churches located in Ontario. The most prominent religious groups are the Catholic Church, the Southern Baptist Convention and the LDS (Mormon) Church.

Ontario is home to the Ontario Motor Speedway and the West End Multi-Service Center as well as Del Rancho Park and Unity Park. Shopping malls in the area include Galvin Park Shopping Center, Vineyard Freeway Shopping Center and Ontario Vineyard Marketplace Shopping Center. Visitors to Ontario can choose from Best Western Ontario, Best Western Ontario Airport and Amerisuites Ontario Mills for temporary stays in the area.