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Career and Education Opportunities for Financial Examiners in Cedar Rapids, Iowa

There are many career and education opportunities for financial examiners in the Cedar Rapids, Iowa area. There are currently 390 working financial examiners in Iowa; this should grow by 10% to about 420 working financial examiners in the state 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. Financial examiners generally 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 $33 per hour or $70,310 yearly on average in Iowa. 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 Iowa and more than people in the Accounting and Auditing category nationally. Jobs in this field include: compliance officer, compliance specialist, and compliance director.

There are thirteen schools of higher education in the Cedar Rapids area, including five within twenty-five miles of Cedar Rapids where you can get a degree to start your career 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 Cedar Rapids 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.
  • Farm Product Purchasing Agent. Purchase farm products either for further processing or resale.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • 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

Coe College - Cedar Rapids, IA

Coe College, 1220 First Ave NE, Cedar Rapids, IA 52402-5092. Coe College is a small college located in Cedar Rapids, Iowa. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,326 students and an admission rate of 63%. Coe College has a bachelor's degree program in Accounting which graduated three students in 2008.

Kirkwood Community College - Cedar Rapids, IA

Kirkwood Community College, 6301 Kirkwood Blvd SW, Cedar Rapids, IA 52406-2068. Kirkwood Community College is a large college located in Cedar Rapids, Iowa. It is a public school with primarily 2-year programs and has 15,241 students. Kirkwood Community College has an associate's degree program in Accounting which graduated forty-nine students in 2008.

Kaplan University-Cedar Rapids Campus - Cedar Rapids, IA

Kaplan University-Cedar Rapids Campus, 3165 Edgewood Parkway SW, Cedar Rapids, IA 52404. Kaplan University-Cedar Rapids Campus is a small university located in Cedar Rapids, Iowa. It is a private for-profit school with primarily 4-year or above programs and has 594 students. Kaplan University-Cedar Rapids Campus has an associate's degree program in Accounting which graduated ten students in 2008.

University of Iowa - Iowa City, IA

University of Iowa, 101 Jessup Hall, Iowa City, IA 52242-1316. University of Iowa is a large university located in Iowa City, Iowa. It is a public school with primarily 4-year or above programs. It has 29,475 students and an admission rate of 82%. University of Iowa has bachelor's degree, master's degree, and doctor's degree programs in Accounting which graduated four, twenty-eight, and zero students respectively in 2008.

Mount Mercy College - Cedar Rapids, IA

Mount Mercy College, 1330 Elmhurst Dr NE, Cedar Rapids, IA 52402-4797. Mount Mercy College is a small college located in Cedar Rapids, Iowa. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,555 students and an admission rate of 80%. Mount Mercy College has a bachelor's degree program in Accounting which graduated five students in 2008.


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.


Cedar Rapids, Iowa
Cedar Rapids, Iowa photo by Davumaya

Cedar Rapids is located in Linn County, Iowa. It has a population of over 128,056, which has grown by 6.0% over the last ten years. The cost of living index in Cedar Rapids, 78, is well below the national average. New single-family homes in Cedar Rapids are valued at $103,900 on average, which is far less than the state average. In 2008, two hundred ninety-nine new homes were built in Cedar Rapids, up from two hundred ninety-eight the previous year.

The three big industries for women in Cedar Rapids are health care, educational services, and finance and insurance. For men, it is construction, professional, scientific, and technical services, and accommodation and food services. The average commute to work is about 17 minutes. More than 28.4% of Cedar Rapids residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.4%, is lower than the state average.

The unemployment rate in Cedar Rapids is 6.0%, which is less than Iowa's average of 6.1%.

The percentage of Cedar Rapids residents that are affiliated with a religious congregation, 57.0%, is more than the national average but less than the state average. Seventh Day Church of God, Sevanth-Day Adventist Church and Hope Lutheran Church are some of the churches located in Cedar Rapids. The largest religious groups are the Catholic Church, the United Methodist Church and the Evangelical Lutheran Church in America.

Cedar Rapids is home to the Brucemore and the Admissions Office as well as Tomahawk Park and Noelridge Park. Shopping centers in the area include Mays Shopping Center, Lindale Plaza Shopping Center and Town and Country Shopping Center. Visitors to Cedar Rapids can choose from Howard Johnson, Marriott Cedar Rapids and Clarion Hotel & Convention Center for temporary stays in the area.