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How Do I Become a Compliance Examiner?

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  • Written By: K. Kinsella
  • Edited By: Shereen Skola
  • Last Modified Date: 23 November 2016
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Compliance examiners conduct audits on organizations and businesses to ensure that employees are complying with company policies as well as regional and national compliance laws. While compliance jobs are found in various industries, many of these roles are primarily focused on accounting and finance related issues. Therefore, aside from gaining some industry specific experience, someone wishing to become a compliance examiner may have to complete a finance related degree.

In many nations, banking regulatory agencies employ compliance examiners; these individuals are tasked with ensuring that banks have sufficient cash assets on hand to cover outstanding liabilities. Additionally, examiners are responsible for ensuring that loan officers and underwriters gather the appropriate documentation before extending credit to consumers and businesses. Someone wishing to become a compliance examiner for a banking regulatory authority must have prior banking experience. Generally, senior bank officers who have worked as lenders or bank managers are able to apply for these roles. Many regulatory agencies prefer to hire experienced bankers who have college degrees in finance, accounting or similar topics.

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Aside from banks, compliance examiners are often employed by securities regulators. These individuals ensure that brokers and stock traders do not conduct unauthorized transactions. Additionally, examiners review the financial records of publicly traded firms to ensure that the public are aware of any underlying issues that may impact the value of securities issued by these companies. Someone wishing to become a compliance examiner for a securities regulatory agency must have prior experience working in the investment arena as a broker or investment representative. Due to the complex nature of securities many agencies require job applicants to have advanced degrees in economics or related subjects.

While many examiners are concerned with financial regulations, some examiners are tasked with ensuring that firms comply with other types of laws. A licensed attorney may be able to become a compliance examiner for an agency that ensures that firms comply with regional or national statutes governing contract laws, advertising disclosures and other types of information. Aside from being an attorney, regulatory agencies normally prefer to hire people who have industry relevant experience in which case lawyer employed by a mortgage firm may be able to gain employment as a mortgage industry compliance examiner.

Some companies employ in-house compliance examiners who ensure that staff follow company procedures as well as local and national laws. These individuals often conduct monthly or quarterly audits of company departments. The salaries of departmental managers can be impacted by the examiner's findings. Typically, in-house examiners are experienced company employees who have prior managerial experience and in many instances, firms also require these individuals to have college degrees in business or finance related topics.

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