Other financial officers

Other financial officers

NOC
1114

Professionals in this group include financial planners, financial examiners and inspectors, financial investigators, financial underwriters, mortgage brokers and trust officers.

Quick facts

3 Year Outlook

Fair
Fair

3 Year Job Openings

167
 

Median Hourly Wage

$25.96
$16.83
Low
$43.27
High

Median Salary

$49,938
 

Typically Required

University

Employed

1,832
 

% Working Full Time

94%
 

% Working Full Year

72%
 
Job details

Full NOC Description

This unit 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. They are employed by banks, trust companies, investment firms and governments, or they may be self-employed.

Main Duties

Financial planners perform some or all of the following duties:

  • 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 implementing the financial plan to help them achieve their goals
  • May also arrange for the purchase and sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability
  • May help to expand business and attract new clients.

Financial examiners and inspectors perform some or all of the following duties:

  • 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 perform some or all of the following duties:

  • 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 perform some or all of the following duties:

  • 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 perform some or all of the following duties:

  • 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 perform some or all of the following duties:

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

Also Known As

  • account manager
  • credit adjudicator
  • credit unions examiner
  • estate and trust administrator
  • financial institutions inspector
  • financial investigator
  • financial planner
  • financial underwriter
  • mortgage broker
  • trust officer
Requirements

Employment Requirements

  • A bachelor's degree in business administration, commerce, economics or a related field is usually required.
  • 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.
  • The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required.
  • Certification as a Financial Planner is required in Quebec.
  • 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.

Provincial Regulation

  • Provincially Regulated: Yes
  • Compulsory: Yes
  • Certified Interprovincial Mobility: Yes
Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

49.6%
Female
50.4%
Male
Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

4.1%
15-24
22.2%
25-34
28.4%
35-44
23.4%
45-54
15.8%
55-64
6.1%
65+
Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

0.6%
No Certificate, Diploma or Degree
18.3%
High School, Diploma or Equivalent
3.2%
Apprenticeship or Trades Certificate or Diploma
33.4%
College or University Below Bachelor Level
44.5%
University - Bachelor Level or Above
Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

84.3%
Finance and insurance
5.0%
Professional, scientific and technical services
3.3%
Public administration
7.4%
All Other Industries
Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

10.80%
Northeast
45.90%
Southeast
22.80%
Southwest
12.90%
Central
7.60%
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Median Salary by Economic Regions

The following graph shows the median salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

$53,062
Northeast
$51,787
Southeast
$52,046
Southwest
$47,635
Central
$44,056
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Northeast

$25.96
$16.83
Low
$43.27
High

Southeast

$26.00
$15.80
Low
$43.41
High

Southwest

$23.59
$14.00
Low
$48.08
High

Central

$23.33
$20.41
Low
$40.91
High
No Data Available
Salary

This following represents the median salary of all persons employed in this occupation compared to the median salary of workers employed in this occupation that work full-time year-round.

All Workers Employed in this Occupation

$49,938

Workers Employed Full-time, Full-year

$54,274

This following represents the median salary of persons employed in this occupation across each of the Atlantic Provinces and nationally.

New Brunswick

$49,938

Newfoundland

$56,603

Prince Edward Island

$44,154

Nova Scotia

$54,541

Canada

$57,469
Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Three Year Outlook

Total Openings: 3 Year

167
 

New Jobs: 3 Year

-2
 

Retirements/Deaths: 3 Year

169
 

Ten Year Outlook

Total Openings: 10 Year

542
 

New Jobs: 10 Year

-14
 

Retirements/Deaths: 10 Year

558