1111-NOC

Other financial officers

(NOC 1114)
High opportunity occupation High opportunity occupation
Annual Earnings
$77,209
Typical Education Background
Degree
Job Openings
(2022-2032)
5,660

Career Overview

This group includes professional occupations in finance not elsewhere classified such as financial planners, financial examiners and inspectors, financial investigators, financial underwriters, mortgage brokers and trust officers.

People in this occupation:

  • Are employed by banks, trust companies, investment firms and governments, or they may be self-employed

 

Duties

Financial Planners:

  • Develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters; analyze clients' financial records, set goals and develop a financial strategy
  • Advise clients on creating an financial plan to help them achieve their goals
  • May also arrange for the sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability
  • Help to expand business and attract new clients

Financial Examiners and inspectors:

  • Review and examine banks, trust companies, credit unions, caisses populaires, credit companies, real estate companies, insurance companies, pension funds, securities brokers and other financial services and institutions to ensure compliance with governing legislation and regulations

Financial investigators:

  • Investigate possible unethical conduct or breaches of securities or commodity futures laws by persons or companies that trade in securities and commodity futures or that provide related financial services

Financial underwriters:

  • Underwrite new issues of stocks and bonds, negotiate with corporations and governments to determine the type and terms of new securities issued and prepare offering prospectuses

Trust Officers:

  • Administer estate, personal, charitable, corporate and other types of trusts, direct trust account investments, receive and record investment income and disburse trust funds

Mortgage Brokers:

  • Meet with clients to obtain information about income, liabilities and assets, and type, price and condition of property to be mortgaged, and negotiate mortgage loans with lenders or lending institutions on behalf of clients

 

Earnings

Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.

Annual Earnings

$77,209

Provincial Hourly Rate

High$62.50/hr
Median$37.02/hr
Low$22.15/hr
Source: B.C. Labour Market Information Office, derived from 2022 Job Bank Wage data

Work Environment

# Workers Employed

15,500

% Employed Full Time

63%
Source: 2016 Census

A conventional controlled environment such as an office, hospital or school

Career Pathways

Progression to financial management positions is possible with experience. While these kinds of positions require a high degree of training and qualifications, workers must continually update their skills and pursue professional development.

Occupational Interests

It’s important to understand what kinds of occupations align with your interests.

For more about occupational interests visit Skills for the Future Workforce > Characteristics.

Here are the top occupational interest(s) for this career profile:

Enterprising
Enterprising
Conventional
Conventional

Job Titles

Adjudicator, credit
Administrator, international banking
Adviser, investment - personal finances
Broker, mortgage broker
Consultant, financial services
Controller, estimates and programs
Counsellor, investment / securities
Examiner, bank and credit union
Financial management
Foreign interbanking
Inspector, bank / credit agency
Investigator, financial
Manager, account / lending solutions
Planner, financial - personal finances
Securities analyst - personal finances

Education, Training and Skills

  • A bachelor's degree in business administration, commerce, economics or a related field is usually required
  • The designation Personal Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required
  • Financial planners who sell regulated financial products and investments, such as annuities, RRSPs and life insurance, are required to be licensed by the appropriate governing body
  • Financial examiners and inspectors may require a recognized accounting designation.
  • Mortgage brokers require a real estate licence in Quebec and a mortgage broker licence in Newfoundland and Labrador, Nova Scotia, Ontario, Manitoba, Saskatchewan, Alberta and British Columbia.

Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, Institute of Chartered Financial Analysts, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.

Mortgage brokers and security underwriters who are certified for that occupation by a regulator elsewhere in Canada can apply for the same certification from the regulator in B.C. Under the terms of the Canadian Free Trade Agreement (CFTA), most applicants who are transferring their credentials from elsewhere in Canada will not be required to complete additional training or testing. However, the B.C. regulator may ask applicants to provide further information such as a letter of good standing, references, or criminal record check.

For those who trained outside of Canada and never received certification from any Canadian jurisdiction, a full assessment is likely needed. Most occupational regulators have a process for assessment and recognize internationally trained applicants.

Contact the BC Financial Services Authority and/or the British Columbia Securities Commission for details on how to apply for certification in B.C.

For information about labour mobility in Canada, visit www.workersmobility.ca.

View a list of Professional Regulatory Authorities in B.C.

Education programs in B.C.

The following program areas are related to this occupation:

  • Finance
  • Economics (Arts)
  • Economics (Science)
  • Economics
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Find out more information about programs offered specifically for this career.

Skills

Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.

Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.

See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

74%
Reading Comprehension

Understanding written sentences and paragraphs in work-related documents.

73%
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.

73%
Speaking

Talking to others to share information effectively.

72%
Judgment and Decision-Making

Considering the relative costs and benefits of potential actions to choose the most appropriate one.

68%
Writing

Communicating effectively in writing as appropriate for the needs of the audience.

64%
Active Learning

Understanding how new information could be used to solve current and future problems in making decisions.

61%
Numeracy

Using mathematics to solve problems.

60%
Complex Problem Solving

Being able to solve novel, ill-defined problems in complex, real-world settings.

60%
Social Perceptiveness

Being aware of others’ reactions and understanding why they react as they do.

58%

Labour Market Statistics

Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.

Employment

Find out about employment types and trends by region and industry.

Employment

15,500
Source: 2016 Census

Employment by Region

Map of BC Map of Cariboo region Map of Kootenay region Map of Mainland/Southwest region Map of North Coast and Nechako region Map of Northeast region Map of Thompson-Okanagan region Map of Vancouver Island/Coast region
Cariboo
Kootenay
Mainland/Southwest
North Coast and Nechako
Northeast
Thompson-Okanagan
Vancouver Island/Coast
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Region Employment (2022) % Employment of this Occupation
Cariboo 250 1.4%
Kootenay 220 1.6%
Mainland/Southwest 13,090 72.6%
North Coast and Nechako 90 0.5%
Northeast 80 0.7%
Thompson-Okanagan 2,260 9.4%
Vancouver Island/Coast 2,440 13.8%
Source: 2016 Census and B.C. Labour Market Outlook

Labour Market Outlook

The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.

Forecasted Job Openings (2022-2032)

5,660
Source: B.C. Labour Market Outlook

Forecasted Job Openings

Forecasted Employment Growth Rate

Composition of Job Openings

Source: B.C. Labour Market Outlook

Job Openings by Region (2022-2032)

Map of BC Map of Cariboo region Map of Kootenay region Map of Mainland/Southwest region Map of North Coast and Nechako region Map of Northeast region Map of Thompson-Okanagan region Map of Vancouver Island/Coast region
Cariboo
Kootenay
Mainland/Southwest
North Coast and Nechako
Northeast
Thompson-Okanagan
Vancouver Island/Coast
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Region Job Openings Avg. Annual Employment Growth
Cariboo 70 0.4%
Kootenay 90 0.9%
Mainland/Southwest 4,220 0.8%
North Coast and Nechako 60 2.0%
Northeast 0 1.2%
Thompson-Okanagan 450 0.4%
Vancouver Island/Coast 770 0.5%
Source: B.C. Labour Market Outlook

Industry Highlights

Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.

Forecasted Job Openings by Industry

IndustryJob Openings (2022-2032)
Finance, insurance and real estate50,900
Professional, Scientific and Technical Services148,000
Public Administration49,200
Construction72,700
Manufacturing49,200
For additional industry information, visit the Industry Profiles page.
Source: 2016 Census and B.C. Labour Market Outlook

Resources