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Career and Education Opportunities for Financial Examiners in Sioux Falls, South Dakota

For those living in the Sioux Falls, South Dakota 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. 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 $30 per hour or $63,270 per year on average in South Dakota and about $34 hourly or $70,930 yearly on average in the U.S. as a whole. Compared with people working in the overall category of Accounting and Auditing, people working as financial examiners in South Dakota earn more. They earn more than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: compliance coordinator, compliance manager, and finance director.

There are six schools within twenty-five miles of Sioux Falls where you can study to be a financial examiner, among ten schools of higher education total in the Sioux Falls area. 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 Sioux Falls 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.
  • 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.
  • 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

Southeast Technical Institute - Sioux Falls, SD

Southeast Technical Institute, 2320 N Career Ave, Sioux Falls, SD 57107-1301. Southeast Technical Institute is a small school located in Sioux Falls, South Dakota. It is a public school with primarily 2-year programs and has 2,138 students. Southeast Technical Institute has an associate's degree program in Accounting which graduated seventeen students in 2008.

Colorado Technical University of Sioux Falls - Sioux Falls, SD

Colorado Technical University of Sioux Falls, 3901 W 59th St, Sioux Falls, SD 57108-2272. Colorado Technical University of Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 1,080 students. Colorado Technical University of Sioux Falls has an associate's degree and a bachelor's degree program in Accounting which graduated fifteen and eight students respectively in 2008.

National American University-Sioux Falls - Sioux Falls, SD

National American University-Sioux Falls, Vista Park Office Building Suite 100, 2801 South Kiwanis Ave, Sioux Falls, SD 57105-4293. National American University-Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 391 students. National American University-Sioux Falls has an associate's degree and a bachelor's degree program in Accounting which graduated one and zero students respectively in 2008.

Kilian Community College - Sioux Falls, SD

Kilian Community College, 300 E. 6th Street, Sioux Falls, SD 57103-7020. Kilian Community College is a small college located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 2-year programs and has 330 students. Kilian Community College has an associate's degree program in Accounting.

University of Sioux Falls - Sioux Falls, SD

University of Sioux Falls, 1101 W 22nd St, Sioux Falls, SD 57105-1699. University of Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,564 students and an admission rate of 97%. University of Sioux Falls has a bachelor's degree program in Accounting which graduated eleven students in 2008.

Augustana College - Sioux Falls, SD

Augustana College, 2001 S Summit Ave, Sioux Falls, SD 57197-0001. Augustana College is a small college located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,754 students and an admission rate of 81%. Augustana College has a bachelor's degree program in Accounting which graduated two 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.

LOCATION INFORMATION: Sioux Falls, South Dakota

Sioux Falls, South Dakota
Sioux Falls, South Dakota photo by AlexiusHoratius

Sioux Falls is located in Minnehaha County, South Dakota. It has a population of over 154,997, which has grown by 25.0% over the last ten years. The cost of living index in Sioux Falls, 81, is well below the national average. New single-family homes in Sioux Falls cost $149,700 on average, which is above the state average. In 2008, five hundred eighty-six new homes were built in Sioux Falls, down from 1,000 the previous year.

The three big industries for women in Sioux Falls are health care, finance and insurance, and educational services. For men, it is construction, finance and insurance, and accommodation and food services. The average commute to work is about 16 minutes. More than 27.8% of Sioux Falls residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.6%, is lower than the state average.

The unemployment rate in Sioux Falls is 5.1%, which is greater than South Dakota's average of 4.5%.

The percentage of Sioux Falls residents that are affiliated with a religious congregation, 66.8%, is more than both the national and state average. Messiah Church, Sunnycrest Church and First Convenant Church are some of the churches located in Sioux Falls. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Sioux Falls is home to the Elmwood Golf Course and the Cactus Hills Country Club as well as Pioneers of Minnehaha County Monument and Picasso Park. Visitors to Sioux Falls can choose from Kelly Inn, Fairfield Inn Sioux Falls and Albert House for temporary stays in the area.