Other financial officers

About this job

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

Common 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

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

Earnings

Annual provincial median salary

$67,386

Source: 2017 Job Bank Wage data

Note:Estimated median employment income based on 2017 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: 2017 Job Bank Wage Report

B.C. Labour Market Outlook (2018-2028)

Provincial outlook

Forecasted average employment growth rate

2018 - 2023
2023 - 2028

Source: B.C. Labour Market Outlook

Job openings

10 year expected job openings: 6,630

2018
2023
2028

Source: B.C. Labour Market Outlook

Composition of job openings

New jobs due to economic growth:
35.7%
2,370 openings

Replacement of retiring workers:
64.3%
4,260 openings

Source: B.C. Labour Market Outlook

Regional outlook

Cariboo

Employment in 2018:

220

Average annual employment growth:

0.8%

Expected number of job openings:

60

Kootenay

Employment in 2018:

230

Average annual employment growth:

0.5%

Expected number of job openings:

70

Mainland / Southwest

Employment in 2018:

12,420

Average annual employment growth:

1.3%

Expected number of job openings:

4,810

North Coast & Nechako

Employment in 2018:

70

Average annual employment growth:

1.1%

Expected number of job openings:

20

Northeast

Employment in 2018:

90

Average annual employment growth:

3.6%

Expected number of job openings:

60

Thompson-Okanagan

Employment in 2018:

1,610

Average annual employment growth:

1.2%

Expected number of job openings:

630

Vancouver Island / Coast

Employment in 2018:

2,210

Average annual employment growth:

1.2%

Expected number of job openings:

970

Source: B.C. Labour Market Outlook

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

Work environment

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

Workforce and employment statistics

Workforce characteristics

15,500 workers are employed

63% of workers are working mostly full time

Source: 2016 Census

Employment by gender

Men

Women

Source: 2016 Census

Employment by age group

15 - 24 years

25 - 44 years

45 - 64 years

65+ years

Source: 2016 Census

Labour force by industry

Finance, Insurance and Real Estate:

86%

Professional, Scientific, and Technical Services:

5%

Public Administration:

3%

Construction:

1%

Manufacturing:

1%

View more industry data

Source: 2016 Census

Employment by region

% employment of this occupation

% employment of all occupations

Cariboo

Kootenay

Mainland / Southwest

North Coast & Nechako

Northeast

Thompson-Okanagan

Vancouver Island / Coast

Source: 2016 Census

Job requirements

Education, training & qualifications

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.

As of July 1, 2017 when the Canadian Free Trade Agreement (CFTA) came into force, you will not need significant additional training, experience, testing or assessment if your qualifications or certificates are recognized by a Canadian regulatory authority. This applies whether you were trained in Canada or internationally. Learn about labour mobility at www.workersmobility.ca. For information about labour mobility and foreign qualifications recognition, contact the B.C. regulator for your occupation.

Skills

Clerical Ability
Numerical Ability
Detail-Oriented
Finger Dexterity

View skills definitions

Education programs in B.C.

The following program areas are related to this occupation:

Economics
Economics (Arts)

Economics (Science)
Finance

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

Related careers

Career paths and resources

Career paths

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.

Additional resources

Advocis: The Financial Advisors Association of Canada
www.advocis.ca/raisethebar/index.html
Association of Women in Finance (AWF)
www.womeninfinance.ca
Financial Planning Standards Council (FPSC)
www.fpsc.ca
Mutual Fund Dealers Association of Canada (MFDA) – Career Opportunities
www.mfda.ca/about/positions.html

Other financial officers (NOC 1114)

About this job

Earnings

Annual provincial median salary

Provincial hourly rate

B.C. Labour Market Outlook (2018-2028)

Provincial outlook

Forecasted average employment growth rate

Job openings

Composition of job openings

Regional outlook

Duties

Work environment

Workforce and employment statistics

Workforce characteristics

Employment by gender

Employment by age group

Labour force by industry

Employment by region

Job requirements

Education, training & qualifications

Skills

Education programs in B.C.

Related careers

Career paths and resources

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