6231-NOC

Financial sales representatives

(NOC 6235)
Annual Earnings
$58,835
Typical Education Background
Degree
Job Openings
(2022-2032)
2,450

Career Overview

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

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

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

$58,835

Provincial Hourly Rate

High$44.62/hr
Median$28.21/hr
Low$19.00/hr
Source: B.C. Labour Market Information Office, derived from 2022 Job Bank Wage data

Work Environment

# Workers Employed

8,100

% Employed Full Time

62%
Source: 2016 Census

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

Career Pathways

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.

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

Account - personal / commercial
Banker, personal
Consumer credit / personal loans
Counsellor, debt / loans
Credit analyst / officer / investigator
Financial sales and service
Loan inspector / officer / supervisor
Merchant services specialist - financial
Mortgage consultant / officer
Sales - financial

Education, Training and Skills

  • 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.

Education programs in B.C.

The following program areas are related to this occupation:

  • Business Administration/Management/Commerce
  • Economics (Arts)
  • Economics (Science)
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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!

Speaking

Talking to others to share information effectively.

74%
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.

74%
Reading Comprehension

Understanding written sentences and paragraphs in work-related documents.

72%
Critical Thinking

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

70%
Judgment and Decision-Making

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

67%
Writing

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

63%
Service Orientation

Actively looking for ways to help people.

62%
Active Learning

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

59%
Social Perceptiveness

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

59%
Complex Problem Solving

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

55%

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

8,100
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 220 2.3%
Kootenay 140 2.0%
Mainland/Southwest 6,730 71.4%
North Coast and Nechako 120 1.3%
Northeast 50 0.7%
Thompson-Okanagan 1,300 10.1%
Vancouver Island/Coast 1,100 12.0%
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)

2,450
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 10 0.0%
Kootenay 20 2.0%
Mainland/Southwest 1,800 0.7%
North Coast and Nechako 80 2.9%
Northeast 0 0.0%
Thompson-Okanagan 190 0.2%
Vancouver Island/Coast 280 0.4%
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
Wholesale Trade33,100
Retail Trade115,500
Professional, Scientific and Technical Services148,000
Public Administration49,200
For additional industry information, visit the Industry Profiles page.
Source: 2016 Census and B.C. Labour Market Outlook

Resources

Resource information is currently not available.