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Career and Education Opportunities for Financial Examiners in Albuquerque, New Mexico

For those living in the Albuquerque, New Mexico area, there are many career and education opportunities for financial examiners. The national trend for financial examiners 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.

Income for financial examiners is about $41 per hour or $86,800 annually on average in New Mexico. Nationally, their income is about $34 per hour or $70,930 yearly. Earnings for financial examiners are better than earnings in the general category of Accounting and Auditing in New Mexico and better than general Accounting and Auditing category earnings nationally. People working as financial examiners can fill a number of jobs, such as: auditor, regulatory analyst, and treasury analyst.

The Albuquerque area is home to seventeen schools of higher education, including six within twenty-five miles of Albuquerque 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 Albuquerque 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.
  • 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.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Financial Examiner Training

Central New Mexico Community College - Albuquerque, NM

Central New Mexico Community College, 525 Buena Vista SE, Albuquerque, NM 87106. Central New Mexico Community College is a large college located in Albuquerque, New Mexico. It is a public school with primarily 2-year programs and has 24,690 students. Central New Mexico Community College has one to two year, associate's degree, and two to four year programs in Accounting which graduated four, fifty-nine, and twenty-two students respectively in 2008.

University of Phoenix-New Mexico Campus - Albuquerque, NM

University of Phoenix-New Mexico Campus, 5700 Pasadena NE, Albuquerque, NM 87113-1570. University of Phoenix-New Mexico Campus is a small university located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 3,303 students. University of Phoenix-New Mexico Campus has associate's degree, bachelor's degree, and master's degree programs in Accounting which graduated three, forty, and five students respectively in 2008.

University of New Mexico-Main Campus - Albuquerque, NM

University of New Mexico-Main Campus, , Albuquerque, NM 87131-0001. University of New Mexico-Main Campus is a large university located in Albuquerque, New Mexico. It is a public school with primarily 4-year or above programs. It has 24,105 students and an admission rate of 71%. University of New Mexico-Main Campus has a master's degree program in Accounting which graduated thirty-four students in 2008.

National American University-Albuquerque - Albuequerque, NM

National American University-Albuquerque, 4775 Indian School Road NE, Suite 200, Albuequerque, NM 87110-3976. National American University-Albuquerque is a small university located in Albuequerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 360 students. National American University-Albuquerque has an associate's degree and a bachelor's degree program in Accounting which graduated zero and five students respectively in 2008.

IIA College - Albuquerque, NM

IIA College, 4201 Central Ave Nw-Ste J, Albuquerque, NM 87105. IIA College is a small college located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 315 students. IIA College has an associate's degree program in Accounting which graduated one student in 2008.

College of Santa Fe at Albuquerque - Albuquerque, NM

College of Santa Fe at Albuquerque, 4501 Indian School Rd NE, Albuquerque, NM 87110. College of Santa Fe at Albuquerque is a small college located in Albuquerque, New Mexico. It is a private not-for-profit school with primarily 4-year or above programs. It has 761 students and an admission rate of 100%. College of Santa Fe at Albuquerque has a bachelor's degree program in Accounting which graduated nineteen students 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.

LICENSES

Broker/Dearler Representative

Licensing agency: New Mexico Securities Division
Address: 2550 Cerrillos Road, Third Floor, Santa Fe, NM 87505

Phone: (505) 476-4580
Website: New Mexico Securities Division

LOCATION INFORMATION: Albuquerque, New Mexico

Albuquerque, New Mexico
Albuquerque, New Mexico photo by Debernardi

Albuquerque is situated in Bernalillo County, New Mexico. It has a population of over 521,999, which has grown by 16.4% in the past ten years. The cost of living index in Albuquerque, 89, is well below the national average. New single-family homes in Albuquerque cost $176,100 on average, which is above the state average. In 2008, 1,067 new homes were built in Albuquerque, down from 2,096 the previous year.

The three big industries for women in Albuquerque are health care, educational services, and accommodation and food services. For men, it is construction, professional, scientific, and technical services, and educational services. The average commute to work is about 20 minutes. More than 31.8% of Albuquerque 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 Albuquerque is 6.9%, which is less than New Mexico's average of 7.5%.

The percentage of Albuquerque residents that are affiliated with a religious congregation, 54.7%, is more than the national average but less than the state average. Heights Seventh Day Adventist Church, Hope Church and Baptist Student Union are some of the churches located in Albuquerque. The most common religious groups are the Catholic Church, the Southern Baptist Convention and the Non-Charismatic Churches Independent.

Albuquerque is home to the Menaul School Historic District and the Volcano Ranch as well as Cutler Park and Eunice Kaloch Park. Shopping centers in the area include Del Norte Parkade Shopping Center, Westway Shopping Center and Winrock Shopping Center. Visitors to Albuquerque can choose from Winrock Inn-Best Western, New Mexico State Government - Health Department- Behavioral Health Services Divi and Motel 6 for temporary stays in the area.