Financial sales representatives (NOC 6235)

About this job

Financial sales representatives:

  • sell basic deposit, investment and loan products and services to individuals and businesses
  • work for banks, trust companies, credit unions and similar financial institutions
Common job titles
  • account- personal / commercial
  • banker, personal
  • consumer credit / personal loans
  • financial sales and service
  • loan inspector / officer / supervisor
  • merchant services specialist - financial
  • account- personal / commercial
  • banker, personal
  • consumer credit / personal loans
  • counsellor, debt / loans
  • credit analyst / officer / investigator
  • financial sales and service

Earnings

Annual provincial median salary

$45,883

Source: 2016 Job Bank Wage data

Note:Estimated median employment income based on 2016 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))

Provincial hourly rate

  • High
  • Median
  • Low

Source: 2016 Job Bank Wage Report

Duties

Financial sales representatives:

  • Open new personal and non-personal accounts, and provide access to automated banking machine, telephone banking and online banking services
  • Interview applicants for personal, mortgage, student and business loans
  • Promote the sale of deposit, investment, credit and loan products and services
  • Assist clients by proposing solutions to address financial objectives such as business expansion, debt management, investment and other financial goals
  • Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan
  • Complete credit and loan documentation
  • Submit credit and loan applications to branch or credit manager with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected
  • Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action
  • Review and update credit and loan files
  • Act as joint custodian for cash and securities

Work environment

Work in this occupation is typically performed in a structured environment, such as an office.

Job requirements

Education, training & qualifications

  • completion of secondary school and extensive general banking experience is usually required
  • a bachelor's degree or college diploma related to commerce or economics may be required
  • a mutual funds license is usually required
  • registration with the securities regulatory authority in the province or territory of employment is usually required
  • completion of a loan or credit training program, ranging from six to twelve months, is usually required.
  • Financial services officers who sell regulated financial products and investments are required to be licensed by the appropriate governing body
Various training programs and courses are offered by the Institute of Canadian Bankers and may be required by employers.
 

Skills

  • Clerical Ability
  • Numerical Ability
  • Detail-Oriented
  • Social
View skills definitions

Education programs in B.C.

The following program areas are related to this occupation:
  • Business Administration/Management/Commerce
  • Economics (Arts)
  • Economics (Science)

For more information about programs offered specifically for this career, visit EducationPlannerBC.

Select a region to view regional outlook
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
Cariboo
Employment in 2016:
260
Average annual employment growth:
0.3%
Expected number of job openings:
50
Kootenay
Employment in 2016:
130
Average annual employment growth:
0.8%
Expected number of job openings:
40
Mainland / Southwest
Employment in 2016:
4,340
Average annual employment growth:
1.2%
Expected number of job openings:
1,280
North Coast & Nechako
Employment in 2016:
80
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Northeast
Employment in 2016:
40
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Thompson-Okanagan
Employment in 2016:
630
Average annual employment growth:
0.0%
Expected number of job openings:
130
Vancouver Island / Coast
Employment in 2016:
800
Average annual employment growth:
2.0%
Expected number of job openings:
340

N/A - Data not available

Source: B.C. Labour Market Outlook

Career paths and resources

Career paths

Promotion to credit and loan management positions is possible with experience.

Progression to higher levels of financial planning and wealth management is possible with experience.

Additional resources

Additional resources are not currently available for this career.