SOUTH AFRICA · SALARY IN RANDS

Financial Examiners

What the work involves, the skills employers want, and how to get started in South Africa.

  • Bank Examiner
  • Bank Secrecy Act Anti-Money Laundering Officer (BSA/AML Officer)
  • Community Reinvestment Act Officer (CRA Officer)
  • Compliance Analyst
  • Compliance Specialist
  • Credit Union Examiner
  • Credit Union Field Examiner
  • Examining Officer

What do Financial Examiners do?

Financial Examiners in South Africa: pay, the work, and how to get started.

What the work actually is

  • Direct and participate in formal and informal meetings with bank directors, trustees, senior management, counsels, outside accountants, and consultants to gather information and discuss findings.
  • Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
  • Prepare reports, exhibits, and other supporting schedules that detail an institution's safety and soundness, compliance with laws and regulations, and recommended solutions to questionable financial conditions.
  • Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
  • Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.

Skills employers expect

Skills

  • Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Reading Comprehension Understanding written sentences and paragraphs in work-related documents.
  • Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking Talking to others to convey information effectively.
  • Writing Communicating effectively in writing as appropriate for the needs of the audience.

Abilities

  • Written Comprehension The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning The ability to apply general rules to specific problems to produce answers that make sense.
  • Inductive Reasoning The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Oral Expression The ability to communicate information and ideas in speaking so others will understand.
  • Near Vision The ability to see details at close range (within a few feet of the observer).

Knowledge

  • English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Mathematics Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Administration and Management Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

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How people get into it

Education of new hires

Bachelor's degree
Post-baccalaureate certificate
Awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree, but do not meet the requirements of academic degrees carrying the title of Master
Master's degree

A normal week

  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Analyzing Data or Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Making Decisions and Solving Problems

Tools used on the job

Technology

  • Data base user interface and query software Microsoft Access · Structured query language SQL
  • Presentation software Microsoft PowerPoint
  • Financial analysis software ACL Analytics · Financial transaction analysis software · General Examination System GENESYS · PricewaterhouseCoopers TeamMate
  • Compliance software NILS INSource · ODEN Insurance Services State Rules & Regulations · Oversight Insights On Demand · System for Electronic Rate and Form Filing SERFF
  • Project management software Investigation management software · Microsoft Project

Tools

  • Notebook computers
  • Desktop calculator 10-key calculators
  • Desktop computers
  • Personal computers

Who it suits

Conventional

Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.

Enterprising

Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.

Investigative

Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.

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Questions people ask

How much do Financial Examiners earn in South Africa?

Financial Examiners salaries in South Africa vary by experience, province and employer.

What do Financial Examiners do?

Direct and participate in formal and informal meetings with bank directors, trustees, senior management, counsels, outside accountants, and consultants to gather information and discuss findings, Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions and Prepare reports, exhibits, and other supporting schedules that detail an institution's safety and soundness, compliance with laws and regulations, and recommended solutions to questionable financial conditions.

How do I know if this career fits me?

Take the free Assessify career assessment. It matches your answers to careers and shows the South African salary next to each one.