Financial Institution Examiners

State of Michigan; Lansing (MI); On-site; USD 60,000 - 90,000; Full time

Benefits offered by this job

Retirement benefits

Health, vision, and dental coverage

Job summary

State of Michigan's Department of Insurance and Financial Services seeks Financial Institution Examiners to regulate and examine a wide range of financial service providers. You will travel, conduct examinations, and partner with leaders to uphold safety and compliance across the industry.

Ideal candidates range from entry-level to senior, with the ability to work independently and in teams, maintain professional judgment, and grow with the organization in a fast-paced, high-tech environment.

Qualifications

• Bachelor's degree with business major and core curriculum (finance, law, management)
• Two years of professional experience in financial institution or insurance industry recommended
• Ability to travel to diverse locations for exams, investigations, and meetings
• Strong written and oral communication and sound professional judgment

Responsibilities

• Regulate and examine financial institutions and related entities across Michigan and beyond
• Conduct examinations to ensure compliance with state/federal regulations
• Interact with industry leaders and officials to assess risk and compliance
• Travel regularly to perform compliance reviews and examinations at various sites

Skills

Communication

Analytical thinking

Teamwork

Travel willingness

Education

Bachelor's degree in business (finance, law, management core)

Job description

The Department of Insurance and Financial Services (DIFS) is seeking two individuals to work in public service as Financial Institution Examiners in the Office of Consumer Finance. These positions are opportunities to build a lifelong career doing work that truly matters - helping to protect consumers and maintain public confidence in Michigan’s insurance and financial services industries.

As Financial Institution Examiners in the Office of Consumer Finance, you will regulate companies that millions of Michiganders rely on every day, including motor vehicle finance companies, money transfer services, mortgage companies, payday lenders, and other consumer financial services companies. Examiners work directly with many financial institution leaders to conduct examinations and ensure companies comply with state and federal regulations.

These Financial Institution Examiner positions offer the incumbents an opportunity to grow and advance in their careers as they gain experience and expertise. These positions are open to both entry-level candidates with no related professional experience and senior-level candidates with relevant experience in the financial industry.

Ideal candidates will have:

• The drive to serve the people of the State of Michigan and make a difference in an important economic sector that supports the financial needs of individuals and small businesses.
• The educational background required below or anticipated completion of these requirements within the next 3 months.
• The desire to travel to diverse work locations for examinations, investigations, training opportunities, and conferences.
• The ability to thrive in a dynamic, collaborative, and high-tech environment while demonstrating sound professional judgment and decision-making.
• A curious and analytical mind capable of analyzing financial performance, identifying and assessing risks, developing solutions, and supporting conclusions.
• The ability to communicate clearly, concisely, and effectively both orally and in writing.
• The desire to work closely with colleagues and senior leaders to solve problems.
• The ability to work well independently and within a team.

Personnel in these positions routinely advance to higher pay and become eligible for management opportunities. These positions provide competitive pay, retirement, health, vision, and dental benefits.

The "Salary" listed above is a range that reflects the minimum rate at the entry 9level through the maximum rate at the experienced 12level. Based on education and experience, candidates will be reviewed to determine the level for which they qualify.

Work Location: Significant in-state and out-of-state (including overnight) travel is required. You will perform compliance reviews and examinations at the offices of licensed entities located throughout the United States and complete assignments at your home office. DIFS is seeking team members who are willing to reside within a 2-hour drive of Lansing, have an interest in helping others, desire to learn and grow as professionals and enjoy the exciting aspects of life in Michigan.

Licenses: If you hold an active license issued by the Department of Insurance and Financial Services (DIFS), please note that it is considered a conflict of interest for DIFS employees to hold active licenses in the industries we regulate. If an offer of employment is made and accepted, it is required that DIFS issued license(s) held by the candidate will be surrendered.

Attachment Requirements

Please submit a cover letter, describing how your education or experience will make you a successful examiner and addressing your understanding and interest in this position. Also include a resume and a copy of official college transcripts.

An "official college transcript" must contain the college/university name and address, the degree conferred and date granted, coursework completed, and the Registrar's signature and/or seal. A scanned or electronic copy is acceptable, as long as it contains the elements listed above. The college/university does not have to send the transcripts directly to DIFS.

Failure to attach the requested documents may result in your application being screened out.

The use of artificial intelligence (AI) software of any kind is prohibited in all areas of the selection process; including, but not limited to, responses to application questions, and responses to interview questions or exercises. Any applicant that is suspected of using AI software for any portion of the selection process may be screened out.

DIFS is a Gold-Level Veteran-Friendly Employer, committed to recruiting, training, and retaining veterans and their spouses.

Education

Possession of a bachelor's degree with a business major including completion of a business core curriculum consisting of one course each in finance, law, and management, one course in either marketing or economics, and 6 semester (9 term) credits in accounting.

Experience

Financial Institution Examiner 9

No specific type or amount is required.

Financial Institution Examiner 10

One year of professional experience evaluating and determining safe and sound operating practices through examinations, visitations or investigations of state chartered depository or state licensed non-depository financial institutions or financial examinations of state licensed insurance companies in accordance with state and federal statutes equivalent to a Financial Institution Examiner 9.

Financial Institution Examiner 11

Two years of professional experience evaluating and determining safe and sound operating practices through examinations, visitations or investigations of state chartered depository or state licensed non-depository financial institutions or financial examinations of state licensed insurance companies in accordance with state and federal statutes equivalent to a Financial Institution Examiner, including one year equivalent to a Financial Institution Examiner 10.

Financial Institution Examiner 12

Three years of professional experience evaluating and determining safe and sound operating practices through examinations, visitations or investigations of state chartered depository or state licensed non-depository financial institutions or financial examinations of state licensed insurance companies in accordance with state and federal statutes equivalent to a Financial Institution Examiner, including one year equivalent to a Financial Institution Examiner P11.

Financial Institution Examiner 9

Possession of a bachelor's degree in any major

AND

Two years of an equivalent type of professional financial institution or insurance industry experience.Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwriting, commercial lending, loan review, audit, compliance, and risk management; or insurance accounting, internal/external audit, actuarial and risk management; as well as oversight of such functions.

Financial Institution Examiner 10

Possession of a bachelor's degree in any major

AND

One year of professional experience as a financial institution examiner or specialist for a federal financial regulatory agency, FDIC, a Federal Reserve Bank, NCUA, Comptroller of the Currency, other federal or out-of-state financial or insurance regulatory agencies;

OR

Three years of an equivalent type of professional financial institution industry experience. Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwriting, commercial lending, loan review, audit, compliance, and risk management; or insurance accounting, internal/external audit, actuarial and risk management; as well as oversight of such functions.

Financial Institution Examiner P11

Possession of a bachelor's degree in any major

AND

Two years of experience as a professional financial institution examiner or specialist for a federal financial regulatory agency, FDIC, a Federal Reserve Bank, NCUA, Comptroller of the Currency, other federal or out-of-state financial or insurance regulatory agencies;

OR

Four years of an equivalent type of professional financial institution industry experience. Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwriting, commercial lending, loan review, audit, compliance, and risk management; or insurance accounting, internal/external audit, actuarial and risk management; as well as oversight of such functions.

Financial Institution Examiner 12

Possession of a bachelor's degree in any major

AND

Three years of experience as a professional financial institution examiner or specialist for a federal financial regulatory agency, FDIC, a Federal Reserve Bank, NCUA, Comptroller of the Currency, other federal or out-of-state financial or insurance regulatory agencies;

OR

Five years of an equivalent type of professional financial institution industry experience. Relevant industry experience varies by position and may include: financial institution commercial credit analysis/underwriting, commercial lending, loan review, audit, compliance, and risk management; or insurance accounting, internal/external audit, actuarial and risk management; as well as oversight of such functions.

View the entire job specification at: https://www.michigan.gov/mdcs/-/media/Project/Websites/mdcs/JOBSPECS/F/FinancialInstitutionsExaminer.pdf