Q:

What does a bank examiner do?

A:

Quick Answer

Bank examiners monitor and evaluate the operations and accounts of banks and credit unions to ensure that the institutions abide by the laws and regulations imposed on them by financial regulatory agencies. They help to ensure the stability of the financial system and prevent banking crises by monitoring the financial health of financial institutions and the performance of institutions’ managers.

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Full Answer

Most bank examiners work for the federal government, state governments or financial institutions. Their job involves examining physical and electronic records and accounts, including balance sheets, loan documents and income and expense accounts. They use these records to determine the financial condition of financial institutions and ascertain their assets, liabilities and liquidity. Bank examiners also evaluate whether institutions' internal procedures are in line with relevant regulations and whether the staff understands and adheres to these procedures. In addition, they review the minutes of management meetings to gain insight into how institutions’ managers are performing.

On completing the assessment, bank examiners prepare reports on their findings, including evidence and analyses. The reports detailing the safety and soundness of the examined institutions are then presented to financial regulatory agencies and the respective management of the institutions. Bank examiners do most of their work on site in banks.

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