Employment of financial examiners is projected to grow 10 percent from 2014 to 2024, faster than the average for all occupations. Employment growth for financial examiners will vary by industry group. Implementation of new financial regulations is expected to create a need for more examiners among financial institutions. However, declining overall employment in the federal government will slow growth for these workers.
Demand for these workers has risen in the financial industry because of an increasing number of new regulations. More financial institutions are hiring financial examiners to help navigate the new regulatory environment, and reduce the cost of compliance. Financial examiners' employment is projected to grow 16 percent from 2014 to 2024 in the finance and insurance industry.
At the federal level, the creation of the Consumer Financial Protection Bureau (CFPB) has increased employment of financial examiners in recent years. As this agency continues to grow, more financial examiner positions will be added. However, overall budget constraints in the federal government may limit employment growth. Employment of financial examiners in the federal government is projected to grow 1 percent from 2014 to 2024.
Employment of financial examiners tends to increase during periods of financial instability. As bank losses and failures become more prevalent during economic downturns, more examiners are needed to enforce regulation. However, during normal economic times, employment tends to be steady.
Financial examiners should face strong competition for jobs. Those with previous work experience in banking should have the best prospects.
Percent change in employment, projected 2014-24
Total, all occupations
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Employment Projections program